Press release
Refrigerated Trailer Market Report, Size, Share, Growth, Trends, Industry Outlook to 2033
Refrigerated Trailer Market
The new report published by The Business Research Company, titled Refrigerated Trailer Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the refrigerated trailer market size has grown strongly in recent years. It will grow from $6.10 billion in 2023 to $6.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The refrigerated trailer market size is expected to see strong growth in the next few years. It will grow to $8.60 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
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What Is Driving The Growth Of The Global Refrigerated Trailer Market?
Rising Demand For Seafood Fuels Growth In The Refrigerated Trailer Market
The increasing demand for seafood is expected to propel the growth of the refrigerated trailer market going forward. Seafood refers to a broad category of edible aquatic organisms, including fish, shellfish, and other marine life, harvested from oceans, rivers, lakes, and other bodies of water for human consumption. The increasing demand for seafood can be attributed to several factors, such as convenience and lifestyle changes, longer shelf life, and changing consumer perceptions. Refrigerated trailers ensure that seafood products remain fresh and safe from harvest to their final destination and help extend their shelf life, reducing the likelihood of waste and spoilage. For instance, in July 2024, according to the State of World Fisheries and Aquaculture (SOFIA) report by The Food and Agriculture Organization (FAO), a US-based specialized agency leading international efforts to defeat hunger, the global fisheries and aquaculture production reached 223.2 million tonnes in 2022, a 4.4% increase from the year 2020. Further, global aquatic animal production is expected to increase by 10% by 2032 to reach 205 million tonnes. Therefore, the high demand for seafood for packaged and frozen meat and seafood has driven the growth of the refrigerated trailer market.
What Is The Key Trend In The Global Refrigerated Trailer Market?
Innovative Refrigerated Trailers With Battery And Solar-Powered Transport Refrigeration Units Revolutionize Cold Chain Sustainability
Major companies operating in the refrigerated trailer market are focused on developing innovative products such as electric refrigerated trailers to enhance energy efficiency, reduce carbon emissions, and provide sustainable solutions for temperature-sensitive cargo transportation. E-refrigerated trailers, or electric refrigerated trailers, are reefer trailers that use electric power to run the refrigeration unit rather than traditional diesel engines. For instance, in February 2023, TIP Group, a Netherland-based company that offers refrigerated trailers, launched E-reefer and AxlePower with battery and solar-powered transport refrigeration. The E-reefer is designed to utilize solar energy to power its refrigeration units. This innovative refrigerated trailer employs solar panels to generate electricity, which can supply a substantial portion of the energy required for cooling. The AxlePower system captures energy lost during the trailer operation, converting it into usable power for the refrigeration unit. This approach maximizes energy efficiency by harnessing otherwise wasted energy, further contributing to the sustainability goals of TIP Group and its clients.
How Is The Global Refrigerated Trailer Market Segmented?
The refrigerated trailer market covered in this report is segmented -
1) By Type: Light Commercial Vehicle (LCV), Medium Commercial Vehicle (MCV), Heavy Commercial Vehicle (HCV)
2) By Tonnage Capacity: Less Than 10 Tons, 10 To 20 Tons, More Than 20 Tons
3) By Application: Food And Beverages, Pharmaceuticals, Chemicals, Other Applications
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How Is The Competitive Landscape Of The Global Refrigerated Trailer Market?
Major companies operating in the refrigerated trailer market are Mitsubishi Heavy Industries Thermal Systems Ltd., Daikin Industries Ltd., Carrier Transicold, Ingersoll Rand, Wabash National Corporation, Schmitz Cargobull AG, Great Dane LLC, Thermo King Corporation, Randon SA Implementos e Participacoes, Manac Inc., Hyundai Translead Inc., Lamberet Refrigerated SAS, Gray & Adams Holdings Ltd., Fontaine Trailer Company, Vanguard National Trailer Corporation, Montracon Ltd., Zanotti S.p.A., Utility Trailer Manufacturing Company, Klinge Corporation, Fahrzeugwerk Bernard KRONE GmbH, Kögel GmbH, Dorsey Intermodal
Contents Of The Global Refrigerated Trailer Market
1. Executive Summary
2. Refrigerated Trailer Market Report Structure
3. Refrigerated Trailer Market Trends And Strategies
4. Refrigerated Trailer Market - Macro Economic Scenario
5. Refrigerated Trailer Market Size And Growth
…..
27. Refrigerated Trailer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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