Dublin, Sept. 20, 2023 (GLOBE NEWSWIRE) -- The "Road Transport Refrigeration Equipment: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Road Transport Refrigeration Equipment Market to Reach $5.5 Billion by 2030
The global market for Road Transport Refrigeration Equipment estimated at US$3.9 Billion in the year 2022, is projected to reach a revised size of US$5.5 Billion by 2030, growing at a CAGR of 4.5% over the analysis period 2022-2030. Trailers, one of the segments analyzed in the report, is projected to record a 4.1% CAGR and reach US$3.2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Heavy Trucks segment is readjusted to a revised 4.7% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.7 Billion, While China is Forecast to Grow at 5.8% CAGR
The Road Transport Refrigeration Equipment market in the U.S. is estimated at US$1.7 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$390.1 Million by the year 2030 trailing a CAGR of 5.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 3.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.4% CAGR.
Market Scope
This data provides a comprehensive analysis of the Road Transport Refrigeration Equipment market, covering various aspects such as historical data, current market trends, and future forecasts.
It includes insights into annual sales in US dollars for Road Transport Refrigeration Equipment from 2022 to 2030, allowing for an understanding of expected market growth and trends.
Additionally, historical market data from 2014 to 2021 is provided, giving context to the market's evolution over the years.
The analysis also presents a breakdown of market share across key geographic regions in 2014, 2022, and 2030, highlighting changes in market dynamics and regional dominance.
Furthermore, the data includes a perspective on the market for different applications, such as trailers, heavy trucks, vans & light trucks, food & beverage, pharmaceutical & healthcare, and other applications.
Lastly, the annual sales of Road Transport Refrigeration Equipment in US dollars for the years 2014 through 2030 are summarized, offering a complete overview of market performance, growth patterns, and potential opportunities or challenges within the Road Transport Refrigeration Equipment market.
Market Trends & Drivers
- Development of Cross Continent & Cross Country Highway Network: Highlighting the positive impact of a growing cross-continent and cross-country highway network on road freight transportation.
- Continuous Development of World's Highways: Providing data on the length of road networks in the top 15 countries worldwide in 2020, emphasizing the expansion of market opportunities.
- Strong Freight Trucking Industry: Discussing the optimism surrounding the road freight transportation sector due to the rise in global trade and retail.
- Trade & Transport Logistics: Demonstrating the interdependence between trade and transport logistics through the global value of export trade figures for various years.
- Outlook for the Freight Trucking Industry: Exploring the future prospects of the freight trucking industry.
- Global Freight Trucking Revenues: Presenting revenue projections for global freight trucking in 2020, 2022, 2024, and 2026, categorized by geographic region.
- Rise of Digital Grocery: Discussing the increased demand for refrigerated transportation services driven by the growth of digital grocery during the COVID-19 pandemic.
- Global e-Commerce Market Reset & Trajectory: Analyzing the growth outlook of the global e-commerce market for several years.
- Rise in Online Grocery and Food Ordering: Examining the impact of rising online grocery and food ordering on the need for refrigerated transportation services.
- Strong Demand for Frozen Foods: Highlighting the importance of refrigerated transportation due to the growing demand for frozen foods.
- Growing Biopharmaceutical Sales: Discussing the role of robust cold chain infrastructure and last-mile refrigerated transportation in the biopharmaceutical industry's growth.
- Growing Investments in Bo-Pharma Cold Chain Infrastructure: Identifying the impact of increased investments in cold chain technologies for biopharmaceuticals on the road transport refrigeration systems market.
- COVID-19 Vaccines & Scaling Up of Biopharmaceutical Cold Chain: Exploring how the distribution of COVID-19 vaccines has contributed to the growth of biopharmaceutical cold chain infrastructure.
- Innovations to Battle Cost & Energy Efficiency Challenges: Discussing the role of innovation in addressing cost and energy efficiency challenges in the market.
- Insulation Strategies in the Refrigerated Transportation Industry: Providing insights into various insulation strategies within the refrigerated transportation industry.
- Polyurethane Foam: Highlighting polyurethane foam as a widely used cold insulation material.
- Polystyrene Foam: Discussing the emergence of polystyrene foam as a rapidly adopted type of cold insulation.
- Phenolic Foam: Recognizing phenolic foam as one of the best thermal insulation materials.
- Bio-Based Cold Insulation Materials: Exploring the rising popularity of bio-based cold insulation materials.
- Eco-Friendly Refrigerants: Discussing the increasing use of eco-friendly refrigerants in refrigerated transportation.
- Recycled CO2: Highlighting the rising popularity of recycled CO2 as an alternative to synthetic refrigerants.
- Blockchain Enabled Refrigerated Containers: Exploring the disruptive impact of blockchain-enabled refrigerated containers on the industry.
- Refrigerated Transportation Becomes Increasingly Intelligent: Discussing the trend of smarter refrigerated transportation solutions.
- Smart Reefer Trucks: Highlighting the emergence of smart reefer trucks in the industry.
- Fully Electric and Eco-Friendly Refrigeration Units: Discussing the momentum behind fully electric and eco-friendly refrigeration units.
- Push Towards Multi-Temperature Refrigerated Trucks and Trailers: Addressing the industry's move towards multi-temperature refrigerated trucks and trailers to meet diverse transport needs.
Select Competitors (Total 89 Featured)
- Carrier Global Corporation
- GAH (Refrigeration) LTD.
- Great Dane
- Hubbard Products Ltd.
- Hultsteins Kyl AB
- Jean Chereau SAS
- Lamberet SAS
- Mitsubishi Heavy Industries Thermal Systems, Ltd.
- Morgan Truck Body, LLC
- Sainte Marie Constructions Isothermes S.M.C.I
- Schmitz Cargobull AG
- Trane Technologies plc
- FRIGOBLOCK GmbH
- Thermo King Corporation
- Wabash National Corporation
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 362 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $3.9 Billion |
| Forecasted Market Value (USD) by 2030 | $5.5 Billion |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/z8781g
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