(MENAFN- EIN Presswire) Cold Storage construction Market..
Cold Storage Construction market Storage type (Production Stores, Bulk Stores, Ports, Warehouse Type Private and semi private warehouse, Public warehouses
PORTLAND, UNITED STATES, April 4, 2023 /einpresswire.com / -- The global cold storage construction market has witnessed significant growth over the past decade, and this trend is expected to continue in the coming years. Cold storage facilities are essential for preserving perishable goods, such as food, pharmaceuticals, and chemicals. These facilities provide a controlled environment that maintains the temperature, humidity, and air quality needed to prevent spoilage and ensure product safety. In this blog, we will discuss the factors driving the growth of the cold storage construction market and the latest trends in this industry.
The global cold storage construction market size was valued at $9.1 billion in 2021, and is projected to reach $26.2 billion by 2031, growing at a CAGR of 10.6% from 2022 to 2031.
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Factors Driving the Growth of the Cold Storage Construction Market
The growth of the cold storage construction market can be attributed to several factors, including:
Rising demand for perishable goods: The growing demand for perishable goods, such as fresh produce, dairy products, and meat, has led to an increase in the number of cold storage facilities. Consumers are increasingly demanding fresh and high-quality products, and this has led to the expansion of the cold storage industry.
Technological advancements: Advances in technology have enabled the construction of more efficient and cost-effective cold storage facilities. The use of automation and artificial intelligence has improved the efficiency of cold storage facilities, reducing energy costs and improving productivity.
Government initiatives: Governments across the world are supporting the growth of the cold storage industry by offering incentives and subsidies to encourage investment in this sector. For instance, the Indian government has launched a scheme to provide financial assistance for the construction of cold storage facilities.
Growing e-commerce industry: The rise of e-commerce has led to an increase in demand for cold storage facilities. E-commerce companies require cold storage facilities to store and distribute perishable goods, such as food and medicines.
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Latest Trends in the Cold Storage Construction Market
The cold storage construction market is undergoing several changes, and there are several emerging trends in this industry. These include:
Use of renewable energy: Cold storage facilities require a significant amount of energy to maintain the required temperature and humidity levels. The use of renewable energy sources, such as solar and wind power, can reduce the carbon footprint of these facilities and make them more sustainable.
Focus on energy efficiency: Energy efficiency is a key concern for cold storage operators, as energy costs account for a significant portion of their operating expenses. The use of energy-efficient equipment and technologies, such as LED lighting and intelligent cooling systems, can reduce energy costs and improve the sustainability of cold storage facilities.
Growth in automation: Automation is becoming increasingly prevalent in cold storage facilities, with the use of robotics and artificial intelligence. Automated storage and retrieval systems (ASRS) are being used to improve the efficiency of cold storage facilities, reducing labor costs and improving productivity.
Increasing demand for multi-temperature storage: Multi-temperature storage is becoming increasingly important in the cold storage industry. This involves storing products at different temperatures within the same facility, enabling the storage of a wider range of products and reducing the need for separate facilities.
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COMPETITION ANALYSIS
The key players that operate in the cold storage construction market are Americold Realty Trust, Burries Logistics, Emergent Cold LatAm Management LLC, Hansen Cold Storage Construction, Lineage Logistics Holdings, LLC, NewCold, Primus Builders, Inc., Tippmann Group, United States Cold Storage, Inc., and VersaCold Logistics Services.
The global cold storage construction market is expected to continue to grow in the coming years, driven by rising demand for perishable goods, technological advancements, government initiatives, and the growth of the e-commerce industry. The latest trends in this industry include the use of renewable energy, a focus on energy efficiency, the growth of automation, and increasing demand for multi-temperature storage. As the cold storage industry continues to evolve, it will be important for companies to stay up-to-date with the latest trends and technologies to remain competitive in this market.
David Correa
Allied Analytics LLP
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