Dublin, June 29, 2021 (GLOBE NEWSWIRE) -- The "Road Transport Refrigeration Equipment - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Road Transport Refrigeration Equipment Market to Reach $9.8 Billion by 2027
Amid the COVID-19 crisis, the global market for Road Transport Refrigeration Equipment estimated at US$7.5 Billion in the year 2020, is projected to reach a revised size of US$9.8 Billion by 2027, growing at a CAGR of 4% over the analysis period 2020-2027.
Truck Refrigeration System & Bodies, one of the segments analyzed in the report, is projected to record a 4.1% CAGR and reach US$4.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Van Refrigeration System & Bodies segment is readjusted to a revised 4.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.2 Billion, While China is Forecast to Grow at 3.8% CAGR
The Road Transport Refrigeration Equipment market in the U.S. is estimated at US$2.2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2027 trailing a CAGR of 3.8% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.7% and 3.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.
Trailer Refrigeration System & Bodies Segment to Record 3.3% CAGR
In the global Trailer Refrigeration System & Bodies segment, USA, Canada, Japan, China and Europe will drive the 3.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.5 Billion in the year 2020 will reach a projected size of US$1.9 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2027.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- Recent Market Activity
- Expected Recovery in Global Trade Brightens the Outlook for the Market
- Development of Cross Continent and Cross Country Highway Network Bodes Well for Road Freight Transportation
- Cryogenic-Powered Refrigeration Equipment Grow In Popularity
- Key Issues & Challenges
- Market Outlook
2. FOCUS ON SELECT PLAYERS(Total 76 Featured):
- Carrier Transicold
- Chereau SAS
- FRIGOBLOCK Grosskopf GmbH
- GAH Refrigeration Ltd
- Great Dane
- Hubbard Products Ltd.
- Ingersoll-Rand plc
- Lamberet SAS
- Mitsubishi Heavy Industries Ltd.
- Morgan Corporation
- Schmitz Cargobull AG
- Thermo King Corporation
- United Technologies Corporation
- Wabash National Corporation
3. MARKET TRENDS & DRIVERS
- Growing Global Population & Pressure on Food Supply and Security to Drive Growth in the Food Cold Chain Sector
- The Food Industry: The Largest End-Use Market and a Primary Growth Driver for Refrigerated Transport Technologies
- Development of Cold Chain Logistics: The Cornerstone for Growth in the Market
- Continuous Technology Innovations to Battle Cost & Energy Efficiency Challenges to Benefit Growth in the Market
- Strengthening Global Recovery: A Positive Sign for the Market
- Multi-Temperature Systems Reduce Multi-Trip Transportation
- Expanding Base of Affluent Middle Class Population & the Resulting Higher Per Capita Spending on Convenience Frozen Foods to Spur Growth in the Food Industry
- Rise of the Bio-Pharma Industry as a Lucrative Emerging End-User of Cold Chain Transport to Benefit Market Growth
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 76
For more information about this report visit https://www.researchandmarkets.com/r/a8zh2g