Market Overview

Global refrigerated road transport market was valued at US$ 12.81 billion in 2016, is projected to exhibit a CAGR of 6.11% over the forecast period (2017–2025), to be valued at US$ 21.78 billion by 2025. Growing demand for efficient distribution of perishable freights such as dairy products, beverages, processed meat, poultry products, ice cream, fruits and other edible products, which may perish in the normal environmental conditions are expected to be the prominent factor fueling growth of the refrigerated road transport market over the forecast period.

According to U.S. Census Bureau, the retail and food services market was valued over US$ 5.51 trillion in 2016, witnessing Y-o-Y growth of 2.98%. Moreover, online business models to cater the customer requirements on-demand have gained considerable traction over the last few years. Proliferation of these businesses and high penetration in the major global economies of the U.S., UK, China, India, Russia, and Canada, among many others is in turn projected to fuel the global refrigerated road transport market growth.


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Market Dynamics

Significant growth of multi-chain food and beverage retail industry is anticipated to be among the prominent growth driver of the industry. Food and beverages industry retailing and servicing has witnessed considerable evolution over the last few years. Business models providing online services to cater the consumer appetite requirements, high growth in consumer motivation towards packaged foods are among the prominent trends witnessed across all the major economies of the globe. In conjunction with these factors, development of stringent food quality standards, to safeguard consumer health will present strong growth prospects over the next few years. For instance, Food Guidance & Regulation – FDA in U.S., General Food Law Regulation and European Food Safety Authority (EFSA) in Europe regulate the standards for manufacturing, processing, industry systems, and import/export activities. However, high initial investment and maintenance cost of these systems is expected to be among the major factors that will continue to hamper the overall industry growth over the next few years.

Detailed Segmentation:

Global Refrigerated Road Transport Market, By Transportation Mode:

LCV

MHCV

HCV

Global Refrigerated Road Transport Market, By Cooling Type:

Chilled

Frozen

Global Refrigerated Road Transport Market, By Technology:

Cryogenic systems

Vapor Compression Systems

Global Refrigerated Road Transport Market, By Geography:

North America

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Some of the major players in the refrigerated road transport market are China International Marine Containers Ltd., Daikin Industries, Ltd., Ingersoll-Rand PLC, Hyundai Motor Company, Lamberet SAS, Singamas Container Holdings Limited, Schmitz Cargobull AG, United Technologies Corporation (Carrier Corporation),

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