The global road transport refrigeration unit market size is slated to touch 339.3 thousand units by 2026, exhibiting a CAGR of 5.5% during the forecast period. As per the Fortune Business Insights report, titled “Road Transport Refrigeration Unit (Equipment) Market Size, Share & Industry Analysis, By Install Vehicle (Van & Light Truck, Heavy Truck, Trailer), By Mode of Operation (Single Temperature, Multi-Temperature), By Power Source (Vehicle Powered, Self-Powered), By Application (Food and Beverage Products, Pharmaceutical and Other Healthcare Products, Floral Products) and Regional Forecast, 2019-2026”, the market size in 2018 was 221.3 thousand units. The report also provides a wide spectrum of information regarding factors, drivers, trends, and dynamics that will influence the development of the market during the forecast period.
Fortune Business Insights covers the following companies in the road transport refrigeration equipment market:
- Ingersoll-Rand (Thermo King Corporation & FrigoBlock Grosskopf GmbH)
- Zhengzhou Corun Tech Co., Ltd
- Mitsubishi Heavy Industries Thermal Systems Ltd.
- Subros Ltd.
- Zanotti S.p.A. (Daikin Europe N.V.)
- Carrier Transicold
- Kingtec Group Company Limited (Denso)
- G.A.H. Refrigeration
- Songz Automobile Air Conditioning Co. Ltd.
Increasing Demand for Fresh Food Items to Fuel the Market
Road transport refrigeration unit (equipment) refers to a system of transporting goods that require to be carried and delivered using specialized temperature-controlled vehicles.Industries such as pharmaceuticals and life-sciences have also greatly benefitted from innovations in road transport refrigeration unit technology. For example, this equipment facilitates transport of critical medicines and materials such as blood samples across long distances in a safe manner. As a result, the road transport refrigeration equipment market trends indicate that the vans and light trucks segment will be the leading segment with a share of 10.5%.
Focus on Sustainability to Present New Innovation Opportunities
Prominent players in the road transport refrigeration unit market are ramping up their investment in R&D activities to develop innovative eco-friendly products. For example, in May 2019, Frigoblock and Thermo King teamed up to test their alternator and inverter-drive technology and SLXi Hybrid trailer systems respectively. The process involved testing of a prototype of hybrid refrigeration equipment to be attached under high-loaders, trucks, and draw bar trailers. In the same month, Carrier TransiCold unveiled the Vector HE 19 (High Efficiency), its next generation temperature controlled trailer system.
Market Segmentation Of Road Transport Refrigeration Market–
By Install Vehicle
- Vans & Light Trucks
- Heavy Trucks
By Mode of Operation
- Single Temperature
- Multi Temperature
By Power Source
- Vehicle Powered
- Food and Beverage Products
- Pharmaceutical and Other Healthcare Products
- Floral Products
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Poland, Spain, Russia, Turkey and Rest of Europe)
- Asia Pacific (Japan, China, India, Southeast Asia, and Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC, Egypt and Rest of Middle East & Africa)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
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Name: Ashwin Arora
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