A recent report published by Infinium Global Research on the refrigerated transport market provides an in-depth analysis of segments and sub-segments in the global as well as regional refrigerated transport market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional refrigerated transport market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global refrigerated transport market. According to the report, the global refrigerated transport market is projected to grow at a CAGR of 5.2% over the forecast period of 2019-2025.
In the present global era, refrigerated transport has unique importance in human society. The transportation of the temperature sensitive commodities as pharmaceutical products, agriculture products, and dairy and meat products from one place to another place mainly depends on refrigerated transport. After the major breakthrough in refrigeration technology in 1830, it was made possible to transport a large amount of temperature sensitive products from one place to another place. Owing to the growing demand for perishable products around the world the demand for refrigerated transport around the world is growing. Further, growing rules and regulations by several governments for temperature sensitive products are helping to grow the market of the refrigerated transport around the globe.
The growing demand for different type of temperature sensitive products around the world, especially, pharmaceutical products, meat, and dairy products are helping to grow the demand for the refrigerated transport market. The growing middle-class population around the world, which is an aspiring consumer group around the world is demanding a different type of temperature sensitive products for their better health, food product and many other things in large quantity. This is the major driving factor for the growth of refrigerated transport around the world. However, lack of infrastructure as road, skilled personnel to operate, monitor and control the refrigerated transport system in the developing countries is restricting the growth of the refrigerated transport system in the potential region.
Geographically, the refrigerated transport market is divided into four regions, namely North America, Europe, the Asia-Pacific, and RoW. North America is the leading market of refrigerated transport owing to the presence of several pharmaceutical, food processing companies in this region. Europe is the second largest market for refrigerated transport. The Asia-Pacific refrigerated transport market is expected to grow at the highest CAGR during the forecast period, owing to the growing demand for the different types of temperature-sensitive products in this region.
The report on the global refrigerated transport market covers segments such as application, transport, technology, and temperature. On the basis of application, the sub-markets include chilled food products, and frozen food products. On the basis of transport, the sub-markets include refrigerated road transport, refrigerated sea transport, refrigerated rail transport, and refrigerated air transport. On the basis of technology, the sub-markets include vapor compression systems, air-blown evaporators, and eutectic devices. On the basis of temperature, the sub-markets include single-temperature, and multi-temperature.
The report provides profiles of the companies in the market such as LAMBERET SAS, Krone Commercial Vehicle Group, Schmitz Cargobull, Hyundai Motor Company, Singamas Container, Utility Trailer Manufacturing Company, China International Marine Containers, Ingersoll Rand Inc., Daikin Industries, Ltd., and United Technologies Corporation.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the refrigerated transport market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.