(MENAFN- The Express Wire) Road Transport Refrigeration Market 2019: Size, Global Trends, Development Status, Opportunities, Future Plans and Growth Forecast by 2026
Posted on Nov 12 2019 5:53 AM
"Road Transport Refrigeration Market Research report 2019 covers a detailed study of the market size, growth, and share, trends, consumption, segments, application and Forecast 2026."
As per the Fortune Business Insights report, titled 'Road Transport Refrigeration Unit (Equipment) Market Size, Share & Industry Analysis, By Install Vehicle (Van & Light Truck, Heavy Truck, Trailer), By Mode of Operation (Single Temperature, Multi-Temperature), By Power Source (Vehicle Powered, Self-Powered), By Application (Food and Beverage Products, Pharmaceutical and Other Healthcare Products, Floral Products) and Regional Forecast, 2019-2026, the market size in 2018 was 221.3 thousand units. The report also provides a wide spectrum of information regarding factors, drivers, trends, and dynamics that will influence the development of the market during the forecast period.
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The global road transport refrigeration unit market size is slated to touch 339.3 thousand units by 2026, exhibiting a CAGR of 5.5% during the forecast period. Growing need to reduce carbon dioxide emissions from vehicles is likely to be the primary driving force behind the growth of this market. Transport refrigeration units cause large-scale pollution as they emit the harmful chlorofluorocarbons that are responsible for depleting the Ozone Layer. According to a study conducted by a private cold technology company, Dearman, refrigerated vehicles emit close to 49,125 tonnes of CO2, 22 tonnes of particulate matter, and 163 tonnes of NOx in London alone every year. This is expected to open up new avenues of innovation in this market and accelerate its growth during the forecast period.
Increasing Demand for Fresh Food Items to Fuel the Market
Road transport refrigeration unit (equipment) refers to a system of transporting goods that require to be carried and delivered using specialized temperature-controlled vehicles. This equipment is seeing an escalating adoption rate owing to the increasing demand for fresh perishable foodstuffs such as fruits, vegetables, and meat. Such items, when kept in cold storage for prolonged periods, lose their nutritional value and can even turn toxic. Refrigerated transport enables efficient transportation of these goods within the prescribed timeframe. Industries such as pharmaceuticals and life-sciences have also greatly benefitted from innovations in road transport refrigeration unit technology. For example, this equipment facilitates transport of critical medicines and materials such as blood samples across long distances in a safe manner. As a result, the road transport refrigeration equipment market trends indicate that the vans and light trucks segment will be the leading segment with a share of 10.5%.
Fortune Business Insights covers the following companies in the road transport refrigeration equipment market:
- Ingersoll-Rand (Thermo King Corporation & FrigoBlock Grosskopf GmbH)
- Zhengzhou Corun Tech Co., Ltd
- Mitsubishi Heavy Industries Thermal Systems Ltd.
- Subros Ltd.
- Zanotti S.p.A. (Daikin Europe N.V.)
- Carrier Transicold
- Kingtec Group Company Limited (Denso)
- G.A.H. Refrigeration
- Songz Automobile Air Conditioning Co. Ltd.
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Market Segmentation Of Road Transport Refrigeration Equipment Market-
By Install Vehicle
- Vans & Light Trucks
- Heavy Trucks
- Trailers
By Mode of Operation
- Single Temperature
- Multi-Temperature
By Power Source
- Vehicle Powered
- Self-Powered
By Application
- Food and Beverage Products
- Pharmaceutical and Other Healthcare Products
- Floral Products
By Geography
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Poland, Spain, Russia, Turkey and Rest of Europe)
- Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC, Egypt and Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
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