2025 Refrigerated Trailer Market Outlook: Key Indicators Shaping Growth Through 2034

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What Will the Refrigerated Trailer Industry Market Size Be by 2025?
The refrigerated trailer sector has seen robust growth in size lately. It is predicted to increase from $6.52 billion in 2024 to $7 billion in 2025, with a compound annual growth rate (CAGR) of 7.5%. Factors contributing to this growth during the historic period include heightened demand for packaged and frozen seafood and meat, evolving lifestyle and eating habits, the need to transport medicines necessitating the use of refrigerated trailers, and the increased need for frozen seafood and meat.

What's the Long-Term Growth Forecast for the Refrigerated Trailer Market Size Through 2029?
In the coming years, the market size of refrigerated trailers is projected to experience a robust increase, ballooning to a value of $9.2 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 7.1%. Factors contributing to this projected growth stretch across various sectors, including a rise in tourism, the popularization of online grocery shopping applications, a spike in frozen food consumption, greater demand for the transportation of perishable goods, the expansion of the nuclear family concept coupled with an increase in fresh food preparation, and heightened consciousness about food wastage. Noteworthy trends expected in this forecast period encompass investments directed at cold chain technologies, breakthroughs in technology, the evolution of freezing techniques, the incorporation of fuel-efficient strategies in industrial freezing systems, and the conceptualization and implementation of environmentally friendly refrigeration systems.

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What Are the Key Growth Drivers Fueling the Refrigerated Trailer Market Expansion?
As the consumption of seafood escalates, it is anticipated to stimulate the expansion of the refrigerated trailer sector. The term 'seafood' encompasses a wide array of consumable water-dwelling species such as fish, shellfish, and diverse marine life sourced from oceans, rivers, lakes, amongst others. This growing appetite for seafood is spurred on by several aspects including the convenience it offers, evolving lifestyles, its extended storage life, coupled with shifting consumer viewpoints. By facilitating the preservation of seafood items, refrigerated trailers ensure these products retain their freshness while minimizing waste from spoilage, from the point of harvest till their final destination. In an apparent reference, a report by the Food and Agriculture Organization (FAO), a US-specialized agency spearheading global crusade against hunger, titled 'State of World Fisheries and Aquaculture (SOFIA)', disclosed in July 2024 that the worldwide fisheries and aquaculture output touched 223.2 million tons in 2022; this marking a 4.4% surge from 2020. Also, it predicted a rise of 10% in global aquatic animal production to reach 205 million tons by 2032. Hence, with soaring demand for packaged and frozen seafood, the refrigerated trailer sector has seen accelerated growth.

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What Are the Key Trends Driving Refrigerated Trailer Market Growth?
Leading corporations in the refrigerated trailer market are leaning towards the creation of cutting-edge products such as electric refrigerated trailers with the aim to improve energy efficiency, minimize carbon emissions, and offer environment-friendly solutions relevant to the transportation of temperature-sensitive goods. These electric refrigerated trailers, also known as E-refrigerated trailers, utilize electric energy instead of conventional diesel powered engines to operate the refrigeration system. For instance, in February 2023, TIP Group - a company based in Netherland that provides refrigerated trailers, introduced AxlePower and E-reefer. These are driven by battery and solar-powered refrigeration for transport. The E-reefer leverages solar power to fuel its refrigeration units. The solar panels equipped on this advanced refrigerated trailer generate electricity, which can substantially fulfill the energy demands for cooling. Meanwhile, the energy wasted during trailer operation is harnessed by the AxlePower system and transformed into power useful for the refrigeration unit. This method significantly enhances energy efficiency as it recycles otherwise discarded energy, further promoting the sustainability targets of TIP Group and its clientele.

How Is the 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

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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Which Companies Are Leading the Charge in Refrigerated Trailer Market Innovation?
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

Which Regions Are Leading the Global Refrigerated Trailer Market in Revenue?
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.

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