The global refrigerated transport market is currently witnessing strong growth. Refrigerated transport refers to the temperature-controlled freight shipping vehicles, such as refrigerated trucks and shipping containers. These vehicles are equipped with a built-in cooling system that maintains the desired temperature throughout the transportation process. They are commonly used for transporting products such as fruits, meat, seafood, and dairy, along with non-food products such as pharmaceuticals and flowers. These vehicles aid in maximizing the shelf life of the product, while ensuring year-round availability of seasonal products.
The growing food and beverage industry represent as one of the key factors driving the growth of the market. This, along with the growth of the cold chain industry across the globe, is further contributing to the market growth. Furthermore, owing to the growing health-consciousness among consumers, the demand for frozen variants of various fresh products has increased, along with the growing demand for the service from residential as well as foodservice operators, such as quick-service restaurants (QSRs), hotels and other eateries. Since the food products and raw materials require controlled temperatures during transportation for storage and prevention of spoilage, refrigerated transport has become integral to the distribution process. Additionally, the manufacturing of temperature-sensitive pharmaceutical drugs and expanding trade opportunities across the globe, are also providing a thrust to the market growth. Other factors, such as the implementation of favorable government policies and regulations regarding the production, processing, transportation and quality of products, along with the increasing adoption of marine transport vehicles, owing to their cost-effectiveness, are projected to drive the market further. Looking forward, IMARC Group expects the market to expand at a CAGR of around 6% during 2020-2025.
Breakup by Mode of Transportation:
Breakup by Technology:
Breakup by Temperature:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being C. H. Robinson, Daikin Industries, FedEx, DB Schenker, General Mills, Hyundai Motor Company, Ingersoll Rand Inc., Krone Commercial Vehicle Group, LAMBERET SAS, United Technologies, Utility Trailer Manufacturing Company, Schmitz Cargobull, Singamas Container, Wabash National, etc.
Key Questions Answered in This Report:
The global refrigerated transport market was worth around US$ 15.1 Billion in 2019.
Sudden outbreak of the COVID-19 pandemic has led to the implementation of stringent lockdown regulations across several nations resulting in the ban of numerous cross-border trade activities and disrupted food supply chains. Although, refrigerated transport solutions are increasingly being adopted in the pharmaceutical sector for preservation and transportation of potential drugs and chemicals for treating coronavirus infection.
According to the estimates by IMARC Group, the global refrigerated transport market will exhibit moderate growth during the next five years.
The increasing consumption of frozen food products due to sedentary consumer lifestyles and their hectic work schedules, represents one of the key drivers for the global refrigerated transport market.
The introduction of efficient modes of cold chain logistics and continuous improvements in the refrigeration technology are some of the key trends in the global refrigerated transport market.
On the basis of the transportation, the market has been classified into refrigerated road, sea, rail and air transport. Amongst these, refrigerated road transport accounts for the majority of the market share.
On the basis of the technology, the market has been categorized into vapor compression systems, air-blown evaporators, eutectic devices, and cryogenic systems. At present, vapor compression systems hold the largest market share.
On the basis of the temperature, the market has been bifurcated into single and multi-temperature. At present, single temperature-based refrigerated transport is mostly preferred by consumers across the globe.
On the basis of the application, the market has been categorized chilled food products, and frozen food products, where chilled food products currently represent the largest application segment.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
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