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The latest report by IMARC Group, titled “Refrigerated Transport Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global refrigerated transport market size reached a value of US$ 16,820 Million in 2021 . Looking forward, the market is expected to reach a value of US$ 23,317 Million by 2027, exhibiting a CAGR of 5.51% during the forecast period (2022-2027). Refrigerated transport, or reefer freight, refers to temperature-controlled vehicles equipped with a built-in cooling system that maintains the desired temperature throughout the transportation process. They help transport perishable food items such as fresh fruits, vegetables, meat, fish, dairy product, confectionery, and bakery products. These vehicles also offer appropriate temperature settings that help preserve the quality of the products, even in harsh conditions. They also ensure year-round availability of seasonal goods. Moreover, refrigerated transport is utilized to transfer chemical and pharmaceutical products as they increase safety and prevent economic losses due to spoilage.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Refrigerated Transport Market Trends:
The market is primarily driven by the increasing demand for perishable commodities across the globe. For instance, the rapid manufacturing of temperature-sensitive pharmaceutical drugs and frozen food products has increased the need for refrigerated transport. In addition to this, governing authorities across various countries are implementing stringent regulations regarding the production, processing, transportation, and quality of food products, which is creating a favorable market outlook. Besides this, the rising prevalence of foodborne diseases and growing health-consciousness among consumers have resulted in the utilization of refrigerated transport as it increases the shelf life, maintains optimal quality, and inhibits bacterial growth in food products. Furthermore, the development of efficient modes of cold chain logistics and technological innovations are also anticipated to drive the market further.
View Full Report with TOC & List of Figure:
Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been examined with some of the key players include:
- 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.
Breakup by Mode of Transportation:
- Refrigerated Road Transport
- Refrigerated Sea Transport
- Refrigerated Rail Transport
- Refrigerated Air Transport
Breakup by Technology:
- Vapor Compression Systems
- Air-Blown Evaporators
- Eutectic Devices
- Cryogenic Systems
Breakup by Temperature:
- Single-Temperature
- Multi-Temperature
Breakup by Application:
- Chilled Food Products
- Dairy Products
- Bakery and Confectionery Products
- Fresh Fruits and Vegetables
- Others
- Frozen Food Products
- Frozen Dairy Products
- Processed Meat Products
- Fish and Seafood Products
- Others
- Others
Breakup by Region:
- North America
- Europe
- Asia pacific
- Latin America
- Middle East and Africa
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter's Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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