Global Refrigerated Trailers market was valued at US$ 4,200 Million in 2022, and is projected to reach US$ 6.4 Bn by 2030, exhibiting a CAGR of 5.5% over the forecast period (2023-2030). According to Global Refrigerated Trailers Market Report, "By Product Type (Frozen and Chilled), End-use Industry (Diary, Fruit& Vegetables, Meat & Seafood and Others (Medicines, Bakery, etc.)), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East& Africa).
A refrigerated trailer is a specialized part of a van or truck used to transport perishable goods at specific temperatures. These trailers come in two variations: positive temperature range for chilled products and negative temperature range for frozen food items. They are essential for transporting perishable items like fish, meat, vegetables, fruits, flowers, dairy products, and poultry. Refrigerated trailers help maintain the freshness of products and protect them from damage during transportation. Typically, the most common refrigerated trailers are around 16 meters (53 feet) long, with varying heights depending on single or double-deck designs. The global refrigerated trailer market is expected to witness growth, driven by the increasing demand for efficient transportation of temperature-sensitive goods.
Global Refrigerated Trailer Market- Drivers
Stringent government regulations are projected to drive the growth of the global refrigerated trailer market during the forecast period.
The implementation of strict government laws and regulations is anticipated to be a significant driver propelling the growth of the global refrigerated trailer market during the forecast period. Governments across the world are increasingly focusing on food safety and quality standards, especially concerning the transportation of perishable goods. Stringent regulations are being put in place to ensure that temperature-sensitive products are transported under controlled conditions to maintain their freshness and prevent spoilage. As a result, the demand for refrigerated trailers, equipped with advanced temperature control and monitoring systems, is on the rise. Additionally, environmental concerns and emissions reduction initiatives have led to the introduction of regulations promoting the use of eco-friendly and energy-efficient refrigerated transportation solutions. These factors create opportunities for manufacturers to develop innovative refrigerated trailers that comply with the stringent requirements, driving the market's growth in the coming years.
Global Refrigerated Trailer Market- Restraints
Rising environmental concerns are likely to impede the growth of the global refrigerated trailer market in the forecast period.
Growing environmental concerns are expected to restrain the growth of the global refrigerated trailer market during the forecast period. As the world becomes more conscious of climate change and the impact of greenhouse gas emissions, there is an increasing emphasis on adopting eco-friendly and sustainable practices across industries. Refrigerated trailers, often powered by diesel engines, contribute to carbon emissions and air pollution. As a result, stricter environmental regulations are likely to be implemented, potentially limiting the use of conventional refrigerated trailers. This could drive demand for alternative transportation solutions, such as electric or hybrid-powered refrigerated trailers, which have lower emissions. However, the transition to greener technologies may involve higher upfront costs, which could pose a challenge for some businesses. Manufacturers in the refrigerated trailer market will need to focus on developing environmentally friendly and energy-efficient solutions to address these concerns and ensure continued growth amid increasing environmental scrutiny.
Global Refrigerated Trailer Market- Key Developments
- On March 17, 2023, Girteka, a European transportation and logistics company and Chereau, a company that specializes in manufacturing and designing refrigerated trailers and semi-trailers announced that they are collaborating to develop more sustainable transport with Chereau trailers equipped with VIP technology. These trailers achieve approximately 20% savings in refrigeration unit insulation and fuel consumption during long-haul trips. The high insulation performance of the Chereau Performance series leads to significant benefits, maintaining temperature even in cooling unit issues. Tests showed a record K-factor of 0.27 for the performance trailer compared to 0.37 for the classic Chereau series. The performance trailer took 12 hours to go from 0° to 5°, while the conventional trailer took only 4 hours.
- In May 2022, Solar electric vehicle start-up Sono Motors has announced a purchase agreement with CHEREAU, a manufacturer of refrigerated trailers and semi-trailers, to jointly develop a solar-powered version for fleet trucks and trailers. Together, the two companies hope to use Sono's solar technology to reduce both fuel costs and CO2 emissions. The new solar-powered refrigeration vehicle will be unveiled at IAA Transportation 2022 in September.
Global Refrigerated Trailer Market- Impact of COVID-19
The Covid-19 pandemic had a multifaceted impact on the refrigerated trailer market. Initially, there was a surge in demand for refrigerated trailers as consumers stockpiled essential goods, including perishable items, leading to increased transportation needs. The pandemic also accelerated the demand for temperature-sensitive pharmaceuticals and vaccines, further boosting the requirement for refrigerated trailers to ensure proper storage conditions during distribution.
However, the refrigerated trailer market also faced challenges during the pandemic. Supply chain disruptions, lockdowns, and travel restrictions affected logistics operations, causing delays in the transportation of goods and hindering market growth. Moreover, the closure of restaurants, hotels, and other foodservice establishments led to reduced demand for perishable goods, impacting the utilization of refrigerated trailers in certain sectors.
As the global economy gradually recovers and supply chains stabilize, the refrigerated trailer market is expected to rebound. The continued importance of cold chain logistics for food safety and pharmaceutical distribution, along with the growing demand for online grocery shopping, is likely to drive sustained growth in the market post-pandemic. However, businesses must remain adaptable to potential changes in consumer behavior and supply chain dynamics as the world emerges from the pandemic's impact.
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Key Trends and Analysis of the Global Refrigerated Trailer market:
- Product Type segment held a dominant position in 2022 and is projected to retain its dominance throughout the forecast period. Rising demand for sea food is expected to drive market growth.
- Asia Pacific held a dominant position in the global Refrigerated Trailer market in 2022 and is expected to maintain its dominance during the forecast period, owing to the expansion of e-commerce.
- Europe Refrigerated Trailer market is projected to exhibit the highest CAGR during 2023–2030 owing to the growth of the pharmaceutical industry.
- North America, Middle East, and Africa are also expected to show significant growth during the forecast period, owing to increasing demand for perishable goods.
- Some of the major players in the global Refrigerated Trailer market are Kogel Trailer GmbH & Co. KG, Wabash National Commercial Trailer Products, Randon Implementos, Great Dane Trailers, Inc., Gray & Adams Ltd., Utility Trailer Manufacturing Company, Hyundai Translead, Montracon Ltd., Schmitz Cargobull AG, Lamberet Refrigerated SAAS, and Fahrzeugwerk Bernard KRONE GmbH.
