refrigerated road

Refrigerated Road Transport Market - Trends, and
Forecast to 2025
Global refrigerated road transport market was valued at US$ 12.81 billion in 2016, is
projected to exhibit a CAGR of 6.11% over the forecast period (2017–2025), to be valued at
US$ 21.78 billion by 2025. Growing demand for efficient distribution of perishable freights
such as dairy products, beverages, processed meat, poultry products, ice cream, fruits and
other edible products, which may perish in the normal environmental conditions are expected
to be the prominent factor fueling growth of the refrigerated road transport market over the
forecast period.
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According to U.S. Census Bureau, the retail and food services market was valued over US$
5.51 trillion in 2016, witnessing Y-o-Y growth of 2.98%. Moreover, online business models
to cater the customer requirements on-demand have gained considerable traction over the last
few years. Proliferation of these businesses and high penetration in the major global
economies of the U.S., UK, China, India, Russia, and Canada, among many others is in turn
projected to fuel the global refrigerated road transport market growth.
High urbanization rates in emerging economies in conjunction with high inclination of
population towards the frozen food products is among the prominent trends that has gained
traction over the last few years. Easy to cook and ready to eat meals are among the prominent
edible products in high demand in these region. Moreover, several economies have developed
stringent regulations to regulate the food quality and distribution standards. For instance,
Food Guidance & Regulation – FDA in U.S., General Food Law Regulation and European
Food Safety Authority (EFSA) in Europe regulate the standards for manufacturing,
processing, industry systems, and import/export activities. Compliance with these quality and
distribution standards are expected to present strong growth prospects to the global
refrigerated road transport market over the forecast period.
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On the basis of transportation modes, light commercial vehicles dominated the global
refrigerated road transport market in terms of volumes. Low ownership and maintenance cost
of vehicles, in addition to low space footprints, ease of handling and maneuverability in urban
locations are among the prominent factors that has led to significantly high adoption.
However, bulk transportation and food manufacturing capabilities limited by the availability
of the required raw material resources in certain locations, which account for the largest end
use industry, has led to significant contribution of heavy commercial vehicles in terms of
value. HCVs dominated the industry size in terms of the revenue generation contributing to
around 45% of the total market size.
Asia Pacific refrigerated road transport market size accounted for 31.16% of the global
industry share, is expected to continue its dominance over the forecast period. Moreover, the
market in the region is also expected to witness highest growth over the near future, primarily
owing to the world’s largest population base that in turn led to high consumption
requirements, and presence of large number of emerging economies that include China, India,
Thailand, Indonesia and other ASEAN economies.
Some of the major players in the refrigerated road transport market are China International
Marine Containers Ltd., Daikin Industries, Ltd., Ingersoll-Rand PLC, Hyundai Motor
Company, Lamberet SAS, Singamas Container Holdings Limited, Schmitz Cargobull AG,
United Technologies Corporation (Carrier Corporation), Utility Trailer Manufacturing
Company, and Wabash National Corporation. Reducing the engine power consumption,
providing efficient and better cooling capacities at competitive costs are among the prominent
strategies adopted by the players to strengthen their industry foothold. For instance, in
December 2017, ABC Transport purchased 6 Maxi-CUBE refrigerated trailers that were
integrated with the Carrier Vector 8600 Multi-Temp (MT) units. On average, these
installations featured 26% less fuel consumption, 20% less engine power consumption and
4% better cooling capacity than the competition.
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The growth of the refrigerated road transport market is fuel by the growing stringency of regulatory bodies towards food quality standards in addition to the high consumer inclination towards packaged and refrigerated foods

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