As per the Report by Fortune Business Insights report, titled “Road Transport Refrigeration Market Size, Share and Industry Analysis, By Install Vehicle (Van and 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.
The Global Road Transport Refrigeration Market size is slated to touch 339.3 thousand units by 2026, exhibiting a CAGR of 5.5% during the forecast period
Road transport refrigeration unit (equipment) refers to a system of transporting goods that require to be carried and delivered using specialized temperature-controlled vehicles. This equipment is seeing an escalating adoption rate owing to the increasing demand for fresh perishable foodstuffs such as fruits, vegetables, and meat. Such items, when kept in cold storage for prolonged periods, lose their nutritional value and can even turn toxic.
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Refrigerated transport enables efficient transportation of these goods within the prescribed timeframe. Industries such as pharmaceuticals and life-sciences have also greatly benefitted from innovations in road transport refrigeration unit technology.
Fortune Business Insights covers the following companies in the Road Transport Refrigeration Equipment Market –
- Ingersoll-Rand (Thermo King Corporation and 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.
Asia-Pacific to Emerge as the Most Lucrative Region; North America to Dominate
Asia-Pacific is set to emerge as a the most promising region in the global road transport refrigeration market owing to growing concerns about food wastage, rising preference for fresh foods, and rapid urbanization. The region accounted for 44.2 thousand units in 2018, with India projected to register the highest CAGR in the continent. North America is anticipated to hold a commanding position as demand for processed food in the region is exceptionally high. In Europe, online retail for ordering food items is a thriving industry and it has led to an increased the demand for refrigerated equipment. Additionally, the single market of European Union (EU) facilitates convenient cross-border trade and commerce among member countries, which further enhances potential of the market. In Latin America, Brazil and Mexico are leading the way, with the former expected to grow at an impressive CAGR.
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Scope of the Road Transport Refrigeration Equipment Market Research Report –
1. By Install Vehicle
- Vans and Light Trucks
- Heavy Trucks
2. By Mode of Operation
- Single Temperature
3. By Power Source
- Vehicle Powered
4. By Application
- Food and Beverage Products
- Pharmaceutical and Other Healthcare Products
- Floral Products
5. By Geography
- 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 and Africa (South Africa, GCC, Egypt and Rest of the Middle East and Africa)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
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Major Table of Content –
5.Global Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast, 2015-2026
5.2.Key Findings / Summary
5.3.Market Analysis, Insights and Forecast – By Install Vehicle
5.3.1.Van & Light Truck
5.4.Market Analysis, Insights and Forecast – By Mode of Operation
5.5.Market Analysis, Insights and Forecast – By Power Source
5.10.Market Analysis, Insights and Forecast – By Application
5.10.1.Food and Beverage Products
5.10.2.Pharmaceutical and Other Healthcare Products
5.11.Market Analysis, Insights and Forecast – By Region
5.11.4.Middle East & Africa
6.North America Road Transport Refrigeration Equipment Market Analysis, Insights and Forecast, 2015-2026
6.1.Key Findings / Summary
6.2.Market Analysis, Insights and Forecast – By Install Vehicle
6.2.1.Van & Light Truck
6.3.Market Analysis, Insights and Forecast – By Mode of Operation
6.4.Market Analysis, Insights and Forecast – By Power Source
6.9.Market Analysis, Insights and Forecast – By Application
6.9.1.Food and Beverage Products
6.9.2.Pharmaceutical and Other Healthcare Products
6.10.Market Analysis, Insights and Forecast – By Country
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