The Refrigerated Transport Global Market Report 2023 by The Business Research Company, provides refrigerated transport market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032
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According to The Business Research Company’s Refrigerated Transport Global Market Report 2023, the market size is expected to grow from $105.21 billion in 2022 to $114.5 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of refrigerated transport is expected to grow to $155.64 billion in 2027 at a CAGR of 8.0%.
The rise in frozen food products is driving the growth of the refrigerated transport market. Frozen variants refer to pre-treatment and include processes such as blanching, heat treatments, dipping treatments, and cryoprotection, depending on the items being frozen. Widespread usage of frozen variants of various fresh products is increasing as it can increase vegetable intake because they are easily accessible and cheaper.
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The refrigerated transport market is segmented:
1) By Transport Type: Refrigerated Road Transport, Refrigerated Medium & Heavy Commercial Vehicles (MHCV), Refrigerated Light Commercial Vehicles (LCV), Refrigerated Heavy Commercial Vehicles (HCV)), Refrigerated Sea Transport, Refrigerated Rail Transport, Refrigerated Air Transport
2) By Temperature: Single Temperature, Multi-Temperature
3) By Application: Chilled Food, Frozen Food
Technological innovations are the key trends gaining popularity in the refrigerated transport market. Major companies operating in the market are focused on introducing new technologies to sustain their position in the market. For instance, in 2021, Thermo King, a US-based company engaged in transport temperature control systems, launched its innovative product T-80E series units. The unique features of T-80E series units have enhanced temperature control accuracy in the truck’s cold compartment, as well as an engine with lower emissions to the environment, higher performance, lower maintenance cost, longer life, and better cost efficiency, all of which contribute to a lower total cost of ownership.
Top 5 Major Key Players Are:
United Technologies Corporation
Daikin Industries Ltd
Ingersoll Rand
China International Shipping Containers
Utility Trailer Manufacturing Company
Table Of Contents
1. Executive Summary
2. Refrigerated Transport Market Characteristics
3. Refrigerated Transport Market Trends And Strategies
4. Refrigerated Transport Market – Macro Economic Scenario
5. Refrigerated Transport Market Size And Growth
……
26. Africa Refrigerated Transport Market
27. Refrigerated Transport Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Refrigerated Transport Market
29. Refrigerated Transport Market Future Outlook and Potential Analysis
30. Appendix
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