Refrigerated Transport Market, by Transport Type (Refrigerated Road Transport (Refrigerated Light Commercial Vehicles (LCV), Refrigerated Medium & Heavy Commercial Vehicles (MHCV), and Refrigerated Heavy Commercial Vehicles (HCV)), Refrigerated Sea Transport, Refrigerated Rail Transport, and Refrigerated Air Transport), by Technology (Vapor Compression Systems, Air Blown Evaporators, and Eutectic Devices), by Temperature (Single Temperature and Multi-temperature), by Application (Chilled Food Products (Milk, Bakery & Confectionery Products, Dairy Products, Beverages, and Fresh Fruits & Vegetables) and Frozen Food Products (Ice Cream, Frozen Dairy Products, Processed Meat, Fish & Sea Food, and Bakery Products)), and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

  • Published On : Dec 2019 |
  • Pages : 180 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Refrigerated Transport Market - Insights

Refrigerated transportation also called as reefer freight. It is a method for shipping freight that requires temperature-controlled vehicles. The vehicle is used for refrigerated transportation that stores the products at the desired temperature during the transportation process.

Global refrigerated transport market was valued at US$ 15.8 billion in 2018 and is expected to exhibit a CAGR of 6.32% over the forecast period (2019-2027), and expected to reach US$ 27.21 billion by 2027. Growing demand for efficient distribution of perishable goods such as dairy products, beverages, processed meat, poultry products, ice cream, fruits, and other edible products, which may perish in the normal environmental conditions is expected to be one of the major factors that is expected to fuel growth of the refrigerated transport market over the forecast period.

Increasing demand for high quality and safety of food from customers across the globe is expected to drive growth of the market

Increasing prevalence of foodborne diseases is expected to boost growth of the market, as refrigerators are used to increase shelf life of food and maintains optimal quality of food, in order to reduce the possibilities of bacterial growth. High prevalence of various foodborne diseases and disorders such as abdominal pain, vomiting, and diarrhea are expected to propel demand of refrigerated transport for food distribution, globally, in order to maintain safety of food products. For instance, according to the World Health Organization (WHO), consumption of contaminated food items can cause over 200 diseases ranging from diarrhea to cancer. Moreover, foodborne diseases is one of the leading cause of deaths at the global level. Furthermore, according to the World Health Organization (WHO) in December 2015, globally, around 1 out of 10 people suffered from various diseases post-consumption of contaminated food, leading to around 420,000 deaths, annually.

This factor is expected to propel the demand for refrigerators in various stages such as food manufacturing, distribution or supply over the forecast period, which in turn is expected to drive growth of the refrigerated transport market globally. Hence, increasing need to preserve food, in order to meet customer demand is expected to drive growth for the refrigerated transportation market over the forecast period.

Figure 1. Global Refrigerated Transport Market Value Share (%), by Technology, 2018

Refrigerated Transport  | Coherent Market Insights

Source: Coherent Market Insights Analysis, 2018

Air blown evaporators held dominant position in 2018 in the global refrigerated transport market.

On the basis of technology, the market is segmented into vapor compression systems, air blown evaporators, and eutectic devices. Amongst technology, air blown evaporators segment accounted for the largest share of 46% in 2018, and it is expected to reach to 46.5% by 2027.

Moreover, the eutectic devices refrigerated transport segment accounted for second largest market share of around 29.6% in 2018, and it is expected to reach 31.8% market share in 2027.

Figure 2. Global Refrigerated Transport Market Value Share (%), by Region, (2018)

Refrigerated Transport  | Coherent Market Insights

Source: Coherent Market Insights Analysis, 2018

Among region, Europe refrigerated transport market size accounted for the largest share with around 35.2% in 2018, and is expected to retain its dominance over the forecast period. This is attributed to increasing demand for frozen foods in Europe, which is expected to drive growth of the market. Moreover, Germany, the U.K., and France have the highest demand for frozen foods. For instance, according to Coherent Market Insights’ analysis, Germany, the U.K., and France together accounted for a share of 54% in the Europe frozen food market in 2015. Moreover, according to the same source in 2015, around 5.8 million tons of frozen fruit and vegetables, 3.3 tons of ice cream and frozen desserts, 1.1 million tons of processed meat, 1 million tons of ready meals, and other frozen products were sold in Europe.

Therefore, increasing demand for frozen foods is expected to rise demand for cold supply chain, which in turn is expected to boost growth of the market for refrigerated transport in Europe over the forecast period.           

Some of the major players operating in the refrigerated transport market include China International Marine Containers (Group) Ltd., Daikin Industries, Ltd., Great Dane Trailers, Inc., HYUNDAI Translead, Ingersoll-Rand PLC (Thermo King), Lamberet SAS, Mitsubishi Heavy Industries, Ltd., Schmitz Cargobull AG, Singamas Container Holdings Limited, United Technologies Corporation (Carrier Corporation), Utility Trailer Manufacturing Company, Wabash National Corporation, and Vehicle Works Bernard Krone Gmbh & Co. KG.

The global refrigerated transport market was valued at 15.8 billion in 2018 and is expected to exhibit a CAGR of 6.32% over the forecast period, reaching US$ 27.21 billion by 2027. Refrigerated transport refers to the automotive systems designed for transportation of perishable shipment at specific temperatures to retain its quality. These automotive are integrated with cooling apparatus, powered by small displacement diesel engines and utilize dry ice as cooling agent to maintain specific temperatures. Requirement to maintain the edible quality of the products and compliance to the regional food quality regulations are expected to drive refrigerated transport market growth over the forecast period.

Market Dynamics

Increasing demand for multi temperature refrigerated units in vehicles is one the key factors propelling demand for mid and heavy commercial refrigerated vehicles, as multi temperature refrigerator have large space, which transports variety of goods such as fresh and frozen products such as beverages, fish, meat, fruits and vegetables, dairy products, and ice creams. Furthermore, increasing development of multi temperature based heavy vehicles is expected to drive growth of the segment. For instance, in 2018, Carrier Transicold at the Distribution Solutions Conference of the International Foodservice Distributors Association, introduced Vector 8611MT a multi-temperature trailer refrigeration unit, which holds two refrigerated compartments.

However, high installation cost of refrigeration is expected to restrain growth of the refrigerated transport market over the forecast period.

Key features of the study:

  • This report provides in-depth analysis of global refrigerated transport, market size (US$ Billion), and cumulative annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or product approvals, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global refrigerated transport market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, refrigerated transport market capital, key developments, strategies, and future plans
  • Key companies covered as a part of this study include China International Marine Containers (Group) Ltd., Daikin Industries, Ltd., Great Dane Trailers, Inc., HYUNDAI Translead, Ingersoll-Rand PLC (Thermo King), Lamberet SAS, Mitsubishi Heavy Industries, Ltd., Schmitz Cargobull AG, Singamas Container Holdings Limited, United Technologies Corporation (Carrier Corporation), Utility Trailer Manufacturing Company, Wabash National Corporation, and Vehicle Works Bernard Krone Gmbh & Co. KG
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, product upgradation, market expansion, and marketing tactics
  • The global refrigerated transport market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the global refrigerated transport market

Detailed Segmentation:

  • Market Viewpoint:
    • The Deployment Strategy of Fuel Cells
    • Roadmap for Hydrogen and Fuel Cells
    • Technological Trends
    • Technology Transition Analysis
    • R&D Spending Analysis
    • Key Collaborations & Funding
    • Assessment on the Developments of fuel cells in LCV & HCV Vehicles
  • Global Refrigerated Transport Market, By Transport Type –Qualitative Insights
    • Refrigerated Road Transport
      • Refrigerated Light Commercial Vehicles (LCV)
      • Refrigerated Medium & Heavy Commercial Vehicles (MHCV)
      • Refrigerated Heavy Commercial Vehicles (HCV)
    • Refrigerated Sea Transport
    • Refrigerated Rail Transport
    • Refrigerated Air Transport
  • Global Refrigerated Transport Market, By Technology:
    • Vapor Compression Systems
    • Air Blown Evaporators
    • Eutectic Devices
  • Global Refrigerated Transport Market, By Temperature:
    • Single Temperature
    • Multi-temperature
  • Global Refrigerated Transport Market, By Application:
    • Chilled Food Products
      • Milk
      • Bakery & Confectionery Products
      • Dairy Products
      • Beverages
      • Fresh Fruits & Vegetables
    • Frozen Food Products
      • Ice Cream
      • Frozen Dairy Products
      • Processed Meat
      • Fish & Sea Food
      • Bakery Products
  • Global Refrigerated Transport Market, By Region:
    • North America
      • By Technology:
        • Vapor Compression Systems
        • Air Blown Evaporators
        • Eutectic Devices
      • By Temperature:
        • Single Temperature
        • Multi-temperature
      • By Application:
        • Chilled Food products
          • Milk
          • Bakery & Confectionery Products
          • Dairy Products
          • Beverages
          • Fresh Fruits & Vegetables
        • Frozen Food Products
          • Ice Cream
          • Frozen Dairy Products
          • Processed Meat
          • Fish & Sea Food
          • Bakery Products
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Technology:
        • Vapor Compression Systems
        • Air Blown Evaporators
        • Eutectic Devices
      • By Temperature:
        • Single Temperature
        • Multi-temperature
      • By Application:
        • Chilled Food products
          • Milk
          • Bakery & Confectionery Products
          • Dairy Products
          • Beverages
          • Fresh Fruits & Vegetables
        • Frozen Food Products
          • Ice Cream
          • Frozen Dairy Products
          • Processed Meat
          • Fish & Sea Food
          • Bakery Products
      • By Country:
        • UK
        • Germany
        • France
        • Italy
        • Rest of Europe
    • Asia Pacific
      • By Technology:
        • Vapor Compression Systems
        • Air Blown Evaporators
        • Eutectic Devices
      • By Temperature:
        • Single Temperature
        • Multi-temperature
      • By Application:
        • Chilled Food products
          • Milk
          • Bakery & Confectionery Products
          • Dairy Products
          • Beverages
          • Fresh Fruits & Vegetables
        • Frozen Food Products
          • Ice Cream
          • Frozen Dairy Products
          • Processed Meat
          • Fish & Sea Food
          • Bakery Products
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Technology:
        • Vapor Compression Systems
        • Air Blown Evaporators
        • Eutectic Devices
      • By Temperature:
        • Single Temperature
        • Multi-temperature
      • By Application:
        • Chilled Food products
          • Milk
          • Bakery & Confectionery Products
          • Dairy Products
          • Beverages
          • Fresh Fruits & Vegetables
        • Frozen Food Products
          • Ice Cream
          • Frozen Dairy Products
          • Processed Meat
          • Fish & Sea Food
          • Bakery Products
      • By Country:
        • Brazil
        • Argentina
        • Rest of Latin America
    • Middle East & Africa
      • By Technology:
        • Vapor Compression Systems
        • Air Blown Evaporators
        • Eutectic Devices
      • By Temperature:
        • Single Temperature
        • Multi-temperature
      • By Application:
        • Chilled Food products
          • Milk
          • Bakery & Confectionery Products
          • Dairy Products
          • Beverages
          • Fresh Fruits & Vegetables
        • Frozen Food Products
          • Ice Cream
          • Frozen Dairy Products
          • Processed Meat
          • Fish & Sea Food
          • Bakery Products
      • By Country:
        • GCC Countries
        • South Africa
        • Rest of Middle East & Africa
  • Company Profiles
    • China International Marine Containers (Group) Ltd.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments/ Updates
    • Daikin Industries, Ltd.
    • Great Dane Trailers, Inc.
    • HYUNDAI Translead
    • Ingersoll-Rand PLC (Thermo King)
    • Lamberet SAS
    • Mitsubishi Heavy Industries, Ltd.
    • Schmitz Cargobull AG
    • Singamas Container Holdings Limited
    • United Technologies Corporation (Carrier Corporation)
    • Utility Trailer Manufacturing Company
    • Wabash National Corporation
    • Vehicle Works Bernard Krone Gmbh & Co. KG

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Top 3 Market Findings
      • Top 2 Market Opportunities
      • Market Snippet, By Transport Type –Qualitative Insights
      • Market Snippet, By Technology
      • Market Snippet, By Temperature
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Mergers and Acquisitions
    • Key Trends
    • Value Chain Analysis
    • New Product Approvals/Launches
    • Porter’s Five Forces Analysis
    • PEST Analysis
  4. Market Viewpoint
    • The Deployment Strategy of Fuel Cells
    • Roadmap for Hydrogen and Fuel Cells
    • Technological Trends
    • Technology Transition Analysis
    • R&D Spending Analysis
    • Key Collaborations & Funding
    • Assessment on the Developments of fuel cells in LCV & HCV Vehicles
  5. Global Refrigerated Transport Market, By Transport Type –Qualitative Insights
    • Introduction
    • Refrigerated Road Transport
      • Refrigerated Light Commercial Vehicles (LCV)
      • Refrigerated Medium & Heavy Commercial Vehicles (MHCV)
      • Refrigerated Heavy Commercial Vehicles (HCV)
    • Refrigerated Sea Transport
    • Refrigerated Rail Transport
    • Refrigerated Air Transport
  6. Global Refrigerated Transport Market, By Technology, 2017 - 2027 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Vapor Compression Systems
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Billion)
    • Air Blown Evaporators
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Billion)
    • Eutectic Devices
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Billion)
  7. Global Refrigerated Transport Market, By Temperature, 2017 - 2027 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Single Temperature
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Billion)
    • Multi-temperature
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Billion)
  8. Global Refrigerated Transport Market, By Application, 2017 - 2027 (US$ Billion)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Chilled Food Products
      • Milk
      • Bakery & Confectionery Products
      • Dairy Products
      • Beverages
      • Fresh Fruits & Vegetables
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Billion)
    • Frozen Food Products
      • Ice Cream
      • Frozen Dairy Products
      • Processed Meat
      • Fish & Sea Food
      • Bakery Products
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Billion)
  9. Global Refrigerated Transport Market, By Region, 2017 - 2027 (US$ Billion)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Billion)
      • Market Size and Forecast, By Temperature, 2019–2027 (US$ Billion)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2017 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Billion)
      • Market Size and Forecast, By Temperature, 2019–2027 (US$ Billion)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2017 and 2027 (%)
        • UK
        • Germany
        • France
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Billion)
      • Market Size and Forecast, By Temperature, 2019–2027 (US$ Billion)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2017 and 2027 (%)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Billion)
      • Market Size and Forecast, By Temperature, 2019–2027 (US$ Billion)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2017 and 2027 (%)
        • Brazil
        • Argentina
        • Rest of Latin America
    • Middle East & Africa
      • Regional Trends
      • Market Size and Forecast, By Technology, 2019–2027 (US$ Billion)
      • Market Size and Forecast, By Temperature, 2019–2027 (US$ Billion)
      • Market Size and Forecast, By Application, 2019–2027 (US$ Billion)
      • Market Share Analysis, By Country, 2017 and 2027 (%)
        • GCC Countries
        • South Africa
        • Rest of Middle East & Africa
  10. Competitive Landscape
    • Company Profiles
      • China International Marine Containers (Group) Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Daikin Industries, Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Great Dane Trailers, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • HYUNDAI Translead
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ingersoll-Rand PLC (Thermo King)
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Lamberet SAS
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Mitsubishi Heavy Industries, Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Schmitz Cargobull AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Singamas Container Holdings Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • United Technologies Corporation (Carrier Corporation)
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Utility Trailer Manufacturing Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Wabash National Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Vehicle Works Bernard Krone Gmbh & Co. KG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  11. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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