New York (US), May 25, 2023 (GLOBE NEWSWIRE) -- Refrigerated Trucks Market Overview
The MRFR study reports imply that the “Refrigerated Trucks Market Research Report Information by Type, Tonnage Capacity, Region and Application - Forecast Till 2030”, the global Refrigerated Trucks market research predicts that the market is likely to bolster substantially during the review era from 2022 to 2030 at a substantial growth rate of around 6.90%. The reports further predict that the Refrigerated Trucks market size will be nearly USD 5,836.80 million by the end of 2030.
Market Scope:
Refrigerated truck is utilized to transport fresh or frozen goods in a closed van; it is a refrigerated truck outfitted with refrigeration equipment and refrigeration units polyurethane insulated transport box for refrigerated transport truck. The refrigerated truck can be divided by freight box type, chassis carrying capacity, and manufacturer. It is popularly used for the transportation of frozen food (frozen truck), vaccine drugs (vaccine carriers), fruits & vegetables (fresh truck), dairy products (milk transport vehicles), and others.
A reefer or refrigerated truck is a particular freight carrier vehicle engineered to transport temperature-sensitive goods and supplies. It is a storage unit connected to a semi-truck carrying many perishable products. These trucks are widely used across several industry sectors.
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Competitive Analysis
The listing of the prominent leaders across the global market for Refrigerated Trucks includes players such as:
- Schmitz Cargobull AG (Germany)
- Kögel Trailer GmbH & Co.KG (Germany)
- Chereau (France)
- Hyundai Translead. Inc (U.S.)
- Great Dane LLC (U.S.)
- Wabash National (U.S.)
- Lamberet SAS (France)
- Fahrzeugwert Bernard Krone Gmbh & Co. K.G. (Germany)
- GRW Tankers and Trailers (U.S.)
- China International Marine Containers (Group) Ltd. (China)
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size 2032 | USD 5,836.80 million |
| Compound Annual Growth Rate (CAGR) | 6.90% (2023-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2019- 2021 |
| Forecast Units | Value (USD million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing need for the housing and lodging sector with the rapid industrialization |
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Market USP Covered
Market Drivers
The global Refrigerated Trucks industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the growing consumer demand for packaged food. The growing per capita consumer spending on frozen food across several developed countries catalyzes the demand for refrigerated trucks worldwide. Furthermore, the rapid growth in the global pharmaceutical and medical industries is also projected to boost the market's growth over the coming years.
Governments across the globe are investing heavily to build an efficient healthcare infrastructure, which is likely to offer lucrative opportunities to players worldwide. Furthermore, the factors such as an increase in e-commerce portals, an increase in the transportation of life-saving medical drugs, and an increased number of vehicles across the globe may impact the market's performance positively over the assessment timeframe.
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Market Restraints
On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the high costs associated. On the other hand, the factors such as the economic recession in the automobile industry, the COVID-19 pandemic, and strict Government protocols may impede the growth of the refrigerated truck market.
COVID-19 Impact
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Refrigerated Trucks market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
Segment Analysis
Among all the types, the Light Commercial Vehicles (LCV) segment is anticipated to ensure the leading position across the global market for refrigerated trucks over the review era.
Among all the tonnage capacities, the 10-20 tons segment is anticipated to ensure the leading position across the global market for refrigerated trucks over the assessment era.
Among all the application areas, the food and beverages segment is anticipated to ensure the leading position across the global market for refrigerated trucks over the projected era.
Regional Analysis
The global market for Refrigerated Trucks is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.
The research reports by MRFR suggest that the North American Region held the top position across the global Refrigerated Trucks industry in 2022, with the largest contribution of nearly 45.8%. The Region has Canada and the U.S. as the leading growth contributors. The larger expansion of cold chain transportation is the main parameter supporting recent regional market growth. Furthermore, the advent of national and international fast-food chains deploys a large percentage of the trucks, which is also likely to enhance the regional market's growth over the assessment period.
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The refrigerated truck market for the Asia-Pacific region will likely exhibit the highest growth over the assessment timeframe. The countries such as India, China, and Japan are the major growth contributors across the regional market. The major aspect causing an upsurge in the regional market's growth is the increasing need for processed food and beverages across the Region. Furthermore, the expanding pharmaceutical industry across the Region is another crucial parameter boosting the demand for the refrigerated truck market. Moreover, the growing demand for the processed meat and seafood industry will likely catalyze the demand for refrigerated trucks over the coming years.
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