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The refrigerated transport market is projected to grow at a CAGR of 5.8%.
According to MarketsandMarkets, the global refrigerated transport market is estimated to be valued at USD 15.5 billion in 2019 and is projected to reach USD 21.6 billion by 2025, recording a CAGR of 5.8% from 2019 to 2025. Factors such as the rising demand for chilled frozen products, especially particularly in the emerging developing countries of the Asia Pacific region is expected projected to fuel drive the growth of the refrigerated transport market.
By application, the chilled food product segment is accounted for the largest share in 2019.
The chilled food segment accounted for a major share in the global refrigerated transport market, on the basis of application, in 20198. The chilled food products segment covers a wide variety of products such as milk, dairy products, which include such as butter, yogurt, and cheese, bakery confectionery products, beverages, and fruits vegetables. The Cchilled food products segment s are is expected projected to witness high growth prospects in the emerging economies of Asia Pacific, South America, and the Middle East amidst due to the growing consumption of convenience foods in these regions. Apart from thisIn addition, the expansion of fastfood chains and supermarkets is expected projected to create lucrative opportunities for chilled food product manufacturers and refrigerated transport service providers in the coming years.
By temperature, the singletemperatures segment in the refrigerated transport market has accounted for the a larger share in 2019.
Based on temperature, the refrigerated transport market is segmented into single temperatures and multi temperature. Singletemperature refrigerated vehicles maintain a a single temperature while transporting perishable goods. On the other hand, in multitemperature refrigerated vehicles maintain , two or more temperatures that can be maintained. Although, the use of multi temperatures transport remains high in refrigerated transportsing that deliver more than one type of product on a trip, refrigerated transport in many countries. The refrigerated transport market is underdeveloped and now gaining momentum and manufacturers due to the increasing need to to cater to the increasing demand for perishable commodities. In such various countries, singletemperature refrigerated vehicles are widely used. Hence, the market share of the singletemperature vehicles segment is estimated to be larger in the market.
Asia Pacific is projected to be the fastestgrowing refrigerated transport market during the forecast period.
Asia Pacific dominated the global refrigerated transport market for chilled food products, as well as frozen products, in 2019. AlsoIn addition, it is projected to be the fastest growing market during the forecast period. Infrastructure development, along with and the increased demand for chilled and frozen foods, is are expected projected to create a lucrative opportunitiesy for both the service providers of refrigerated transport, service providers as well as for frozen and chilled food manufacturers in the coming years. India and China have been are witnessing a change in the eating habits of their people. Consumers seek fast food and convenience foods, which have fueled driven the growth of supermarkets and quickservice restaurants. This has led to an increase in the sales of consumerready frozen foods such as ice cream frozen desserts;, frozen fruits vegetables;, seafood;, and meats. To maintain the shelf life of perishable commodities, manufacturers and retailers of perishable commodities witness a high demand for refrigerated transport facilities.
The global refrigerated transport market is segmented regionwise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, and RoW South Africa, Brazil, Argentina, and the Middle Eastern countries.
Breakup of Primaries
By Company Type: Tier 1 18%, Tier 2 36%, and Tier 3 46%
By Designation: Clevel 20%, Dlevel 30%, and Others* 50%
By Region: North America 50%, Asia Pacific 20%, Europe 20%, and RoW** 10%
*Others include sales managers, marketing managers, and product managers.
**RoW includes South Africa, Brazil, Argentina, and the Middle East.ern countries
Leading players profiled in this report include:
Rrefrigerated transport service providers
United Technologies US
Daikin Industries Japan
IngersollRand THERMO KING Ireland
China International Marine Containers China
Utility Trailer US
Singamas Container China
Hyundai South Korea
Schmitz Cargobull Germany
Fahrzeugwerk Bernard Krone Germany
Food beverage companies
Tyson Foods US
The Kraft Heinz Company US
General Mills US
Smithfield Foods US
Kellogg Company US
Conagra Brands US
Del Monte Pacific Singapore
This report segments the refrigerated transport market, on the basis of Aapplication chilled and frozen food products, mode of transportation, by temperature, by technology, and region. In terms of insights, this research report focuses on various levels of analysescompetitive landscape, enduse analysis, and company profileswhich together comprise and discuss the basic views on the emerging highgrowth segments of the refrigerated transport market, highgrowth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
Reasons to buy this report
To get a comprehensive overview of the refrigerated transport market
To gain wideranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
To gain insights about the major countries/regions, in which the refrigerated transport market is flourishing
Original Article: Refrigerated Transport Market by Application Chilled food and Frozen food, Mode of Transportation Road, Sea, Rail, and Air, Vehicle Type LCV, MHCV, and HCV, Temperature Single and Multitemperature, Technology, and Region Global Forecast to 2025 [PublisheNEXT ARTICLE
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