According to a new market research report published by Credence Research “Refrigerated Trailers Market (by Functionality: Sub-zero Trailers and Chiller Trailers; by Number of Axles: Single Axle and Multi-axle; by End-user: Meat & Fish, Fruits & Vegetables, Dairy Products, Medical & Healthcare and Others (Flora, Baked Goods, Beverages, etc.)) - Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the refrigerated trailers market was valued US$ 5.97 Bn in 2017 and estimated to grow with a CAGR of 4.7% during the forecast period from 2018 to 2026.
Market Insights
Early millennial still prefer fresh and homemade food and consequently restricted the growth of cold chain supply. However, later generations are more inclined towards frozen and refrigerated consumable compared to fresh products owing to the convenience and availability associated with them. This opened new gates for cold chain supply and encouraged companies to procure refrigerated trailers as their main mode of transport through roads. The demand for such food and beverages is not expected to cease anytime soon therefore expected to encourage growth of refrigerated trailers in coming years. The use of refrigerated trailers is not restricted to only food and beverages but extend their services to medical, healthcare and other carriers including flora. Wide range of end-use and unavailability of alternative solution projected to drive the market at a considerable rate during and beyond the forecast period from 2018 to 2026.
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Government and auxiliary organizations constantly monitor activities associated with public health and safety and consequently framed stringent laws and regulation for refrigerated food and transportation. This inspired refrigerated trailer manufacturer to upgrade their products in accordance to the guidelines and encouraged cold chain participants to incorporate such trailers into their fleets. The European Union is quite cautious regarding the quality of food for consumption & wastage and consequently emerged as a leader in overall refrigerated trailers market. The region is closely followed by North America in terms of market value. However, Asia Pacific expected to appear as the most lucrative market owing to changing lifestyles and significant rise in disposable income in developing countries. Predominance of young population and fast-paced lifestyle are few of the most vital factors for the market growth consequently, the Asia Pacific projected to surpass another region beyond forecast period.
Competitive Insights:
Some of the world’s most prominent trailer manufacturers participate in the global refrigerated trailers manufacturers. Few of these players have dedicated on the shelf product line for various end-user. However, several companies provide custom-made solution to cater specific temperature or capacity needs of customers. Continuous upgrading and keeping food products safe from microbes is a vital strategy adopted by almost every contender in this challenging market. Few of the major notable players profiled in this research study include Great Dane LLC, Fahrzeugwerk Bernard KRONE GmbH, Wabash National Commercial Trailer Product, Utility Trailer Manufacturing Company, Kogel Trailer GmbH & Co. KG, Schmitz Cargobull AG., Montracon Ltd., Lamberet Refrigerated SAS, Gray & Adams Ltd., and Randon Implementos among others.
Key Analysis Covered:
• Latest trends in refrigerated trailers market and growth prospects for refrigerated trailer manufacturers
• Stringent government regulations and growing demand for frozen foods creating a positive impact on refrigerated trailers market
• Different type and availability used to provide cooling solution during road transportation and their market estimations
• Largest and fastest growing segments in terms of functionality, number of axles, and end-user
• Most prominent geographical regions/ countries for the refrigerated trailers market
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