Global Refrigerated Transport Market: Industry Analysis and Forecast (2020-2026)
- POSTED ON Thursday, June 10, 2021
Refrigerated Transport market was valued at US$ xx Mn in 2019 is expected to reach US$ xx Mn by the end of 2026 at a CAGR of 6.4% from 2020 to 2026
Refrigerated transportation is also known as reefer freight which is a form of freight transportation that involves the use of special, temperature-controlled vehicles. The vehicle that is carrying the products has a built-in refrigeration device that holds the items at the ideal temperature during the transportation process.Global Refrigerated Transport Market Dynamics:
Development in the food processing companies to drive refrigerated transport marketThe food processing industry is witnessing exponential growth, and the rising demand for home delivery services is increasing the demand for refrigerated transport. In addition, the cold chain sector is the fastest growing industry, also, various end-use industries such as fish, dairy, fruits & vegetables, poultry, confectionery, and pharmaceuticals are critically dependent on it. The food industry is facing significant pressures as the use of refrigerated transportation grows rapidly because of a much wider variety of higher quality demands, home delivery, and transported goods. As a result, the food industry and governments are investing more in the cold chain industry which in turn has created many lucrative opportunities for the key players operating in the refrigerated transport market. However, the market growth is restrained by the change in climate which led to effects on transporting infrastructure.
The report has profiled twenty-two key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analysis and report has come up with recommendations for a future hot spot in the North America. Major country’s policies about manufacturing and their impact on Refrigerated Transport demand are covered in the report.Global Refrigerated Transport Market Segment Analysis
The chilled food products segment is expected to grow at a CAGR of xx% during the forecast period. Based on the application, in 2019, the chilled food products segment holds the largest market share of xx%, and it is expected to reach USD$ XX Mn by 2026. People's hectic lifestyles have resulted in a rise in demand for convenience foods globally. As a result, because chilled food products required quick cooking time, chilled processed food products have become very common among consumers, especially working women who demand healthy and convenient food.Global Refrigerated Transport Market Regional Insights
North America to witness a high market growth rate and is expected to grow at a CAGR of xx% by 2026North America is expected to hold the largest share of the global refrigerated transport market, while Asia Pacific is expected to rise at the fastest CAGR of xx%. The market growth in the Asia Pacific is because of increasing government favorable policies and FDI investment. For instance, in India, the National Centre for Cold-chain Development (NCCD) under the government of India, has waived the levy of Excise Tax on domestic production and customs for the import of ready-to-use reefer equipment which has made a positive impact on the market. In addition, rapid urbanization has provided many lucrative for the cold chain warehouses and trucking companies especially in China India, and Indonesia among others. In India, the last ten years, more than 10 million metric tonnes of cold storage capacity has been built, bringing the total amount of cold storage capacity in the country to about 30.4 million metric tonnes. In 2019, North America held a market share of xx%. Over the forecast period, technical advancements in refrigerated systems and equipment, as well as changing food consumption patterns, are expected to boost demand for refrigerated transportation.
The objective of the report is to present a comprehensive analysis of the global packaging testing market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global packaging testing market dynamics, structure by analyzing the market segments and project the global packaging testing market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global packaging testing market make the report investor’s guide.Global Refrigerated Transport Market, Key Highlights:
• Global Refrigerated Transport Market analysis and forecast, in terms of value.• Comprehensive study and analysis of market drivers, restraints, and opportunities influencing the growth of the Global Refrigerated Transport Market• Global Refrigerated Transport Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.• Global Refrigerated Transport Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.• Global Refrigerated Transport Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA), and Latin America along with country-wise segmentation.• Profiles of key industry players, their strategic perspective, market positioning, and analysis of core competencies are further profiled.• Competitive developments, investments, strategic expansion, and competitive landscape of the key players operating in the Global Refrigerated Transport Market are also profiled.
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Global Refrigerated Transport Market, by Region
• North America• Europe• Middle East & Africa• Asia Pacific• South AmericaGlobal Refrigerated Transport Market Key Players
• Carrier Transicold, Inc.• CMA CGM S.A.• GAH Refrigeration Ltd• Maersk Line A/S Limited• MSC Mediterranean Shipping Company S.A.• Swift Transportation Company• Aryzta Ag• China International Marine Containers (Group) Ltd.• Conagra Brands, Inc.• Daikin Industries, Ltd.• Del Monte Pacific Ltd• General Mills, Inc.• Hyundai Motor Company• Ingersoll-Rand Plc• Kellogg Company• Kerry Group Plc.• Lamberet Sas• Singamas Container Holdings Limited• The Kraft Heinz Company• Utility Trailer Manufacturing Company• Tyson Foods, Inc.• Wabash National Corporation• Other Key Players
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