Global Refrigerated Transport Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing demand for multi temperature refrigerated units, rising usage of transport vehicles, and growing prevalence of foodborne diseases are some of the major factors driving the growth of the Global Market. Global Refrigerated Transport Market is valued at USD 105.72 Billion in 2021 and expected to reach USD 170.87 Billion by 2028 with the CAGR of 7.1% over the forecast period. ScopeRefrigerated transport is a method of freight transportation using specially designed temperature-controlled trucks. Transport trucks have a built-in refrigeration system that cools shipments at a controlled temperature throughout the shipment process. The Covid-19 pandemic has shown a negative impact on the growth of the global refrigerated transport market. Government regulations around the world such as lockdowns and social distancing have greatly affected transportation. Traffic is mainly carried out by ships moored on board, unloading at different places or boarding at different ports and berths, downstream and detained. And because of these Covid-19 regulations, these markets were largely disrupted. The pandemic has caused financial stress to global transportation and logistics companies due to cash flow, staff shortages, fewer contracts, and other issues, which have led to a reduction in employee salaries and a severe decline in global trade volumes. However, after the pandemic market will be expected to grow for the forecast period. Key PlayersSome major key leaders for the global market report cover prominent players like • • • • • • • • •
United Technologies Corporation Daikin Industries Lamberet SAS Ingersoll Rand PLC China International Marine Containers Schmitz Cargobull AG Wabash National Corporation Utility Trailer Manufacturing Company others
Segmentation:By Application: • •
Frozen food Chilled food
By Mode of Transport (Road): • • •
LCV HCV MHCV
By Technology: • • • •
Air-blown Evaporators Fully Electrified Hybrid Eutectic Devices
By Temperature: • •
Multi-temperature Single temperature
By Regional & Country Level: •
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North America o U.S. o Canada Europe o U.K. o France o Germany o Italy Asia Pacific o China o Japan o India o Southeast Asia Latin America o Brazil o Mexico Middle East and Africa o GCC o Africa o Rest of Middle East and Africa
Increasing Demand for Multi Temperature Refrigerated Units, Rising Usage of Transport Vehicles, and Growing Prevalence of Foodborne Diseases are Some of the Major Factors Driving the Market Growth
One of the major factors driving the growth of the refrigerated transport market is the increasing demand for multi-temperature refrigerated units. Growing demand for multi-temperature refrigerated units in vehicles is a major factor driving the demand for medium and heavy commercial refrigerated vehicles, as multi-temperature refrigerators have a large space, which transports a variety of goods such as fresh and frozen products such as beverages, fish, meat, fruits and vegetables, dairy products and ice cream. Furthermore, the increasing development of multi-temperature-based heavy vehicles is expected to supplement the market growth. For instance; on August 3rd, 2020; Carrier Transicold launched three new refrigeration units, delivering significant operational and environmental benefits for truck, trailer, and light commercial vehicle fleets. North America is Expected to Show a Significant Growth in the Global Refrigerated Transport Market North America is Expected to Show a Significant Growth in the Global Refrigerated Transport Market due to increasing technological innovations in refrigerated systems, rising disposable income, and growing retail and e-commerce sector in this region. For instance; on July 23rd, 2020; Lineage Logistics announced the launch of its Canadian platform through the acquisition of Ontario refrigerated services inc. Europe is expected to show a significant growth in the global refrigerated transport market within the forecast period due to the increasing demand for chilled and frozen foods, rising population, and growing demand for refrigerated transport in this region. Increasing demand for chilled and frozen foods is driving the growth of the market. The frozen food market continues to grow in Germany, one of the top consumer countries on this segment in the world. NewsThermo King Launched the T-80E Series for refrigerated truck On August 10th, 2021; Thermo King, the world’s leading transport temperature control solutions provider, and a brand of Trane Technologies, launched its innovative product T-80E series units across the Asia Pacific market. As the next-generation product based on the Thermo King T series, T-80E series features new improved version of the control software, and are equipped with longlife electronic evaporator fans. It represents Thermo King’s innovative technologies and sustainability focus to deliver greater refrigeration capacity with more accurate temperature control ability, exceeding customer expectations. Daimler’s BharatBenz Launched Refrigerated Vaccine Truck On January 25th, 2021; Daimler India Commercial Vehicles unveiled the BharatBenz BSafe Express, a specialized reefer truck designed for the safe transportation of Covid-19 vaccines. The connected truck uses newly developed refrigeration units to accurately monitor and maintain the temperature and stability of vaccines at all stages of distribution.