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Refrigerated Trailer Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Refrigerated Trailer
What Is the Projected Growth of the Refrigerated Trailer Market?
The refrigerated trailer market has experienced strong growth in recent years. It will grow from $6.52 billion in 2024 to $7 billion in 2025 at a CAGR of 7.5%. Contributing factors include high demand for frozen seafood and meat, increasing preference for packaged food, lifestyle and dietary shifts, medical supply transportation needs, and increased frozen food consumption.
The refrigerated trailer market is expected to experience strong growth, reaching $9.2 billion by 2029 with a CAGR of 7.1%. The growth is attributed to rising tourism, the emergence of online grocery shopping apps, a surge in frozen food consumption, increasing demand for perishable goods transportation, the trend of nuclear family setups, and heightened food waste awareness. Key trends include investments in cold chain technologies, fuel-efficient freezing practices, and eco-friendly refrigeration systems.
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What Are the Different Refrigerated Trailer Market Segments?
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
Subsegments:
1) By Light Commercial Vehicle (LCV): Small Refrigerated Vans, Pickup-Based Refrigerated Units
2) By Medium Commercial Vehicle (MCV): Medium-Sized Refrigerated Trucks, Box Trucks with Refrigeration
3) By Heavy Commercial Vehicle (HCV): Semi-Trailer Refrigerated Units, Full-Sized Refrigerated Trucks, Multi-Temperature Zone Trailers
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What Are the Primary Drivers Shaping the Refrigerated Trailer Market?
The growing seafood demand is anticipated to bolster the refrigerated trailer market. Seafood, which includes edible aquatic species, requires refrigeration for safe transport. These trailers extend seafood's shelf life and maintain its freshness. According to the July 2024 SOFIA report by the FAO, global fisheries and aquaculture output reached 223.2 million tons in 2022, a 4.4% increase from 2020, and is projected to grow by another 10% by 2032. Therefore, increased seafood consumption drives the refrigerated trailer market.
Which Companies Are Leading in the 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
What Are the Major Trends Shaping the Refrigerated Trailer Market?
Companies in the refrigerated trailer market are innovating with electric refrigerated trailers to reduce carbon emissions and enhance energy efficiency in transporting temperature-sensitive cargo. TIP Group, a Netherlands-based company, launched the E-reefer and AxlePower in February 2023, which utilize solar and battery-powered systems to run refrigeration units, improving energy efficiency and supporting sustainability.
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What Are the Top Revenue-Generating Geographies in the Refrigerated Trailer Market?
North America was the largest region in the refrigerated trailer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the refrigerated trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Refrigerated Trailer Market?
2. What is the CAGR expected in the Refrigerated Trailer Market?
3. What Are the Key Innovations Transforming the Refrigerated Trailer Industry?
4. Which Region Is Leading the Refrigerated Trailer Market?
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