Global Refrigerated Vehicle Market Size, Share and Trends Analysis, By Type (Frozen, Chilled), By Application (Refrigerated Vans, Refrigerated Trucks, Refrigerated Trailers, Refrigerated Railcars, Refrigerated Ships, Refrigerated Transport by Air, Refrigerated Containers, and Others), Forecast (2022-2028)

The global refrigerated vehicle market is estimated to grow at a CAGR of 5.5% during the forecast period (2022-2028). Refrigerated vehicles are used to transport perishable foods, pharmaceuticals, and medical supplies. Globally, food production has increased owing to the rising population and consumer spending. Dairy products, as well as fresh fruits and vegetables, require cold storage and transportation to ensure their long-term viability. Increased global warming has been a major source of concern for food producers around the world, as it is shortening the shelf life of these products in non-refrigerated environments. To retain their chemical and biological formulation, most pharmaceutical and healthcare products require protection from heat and light. Refrigerated vehicles are a diverse group of vehicles that are utilized to meet a variety of transportation needs. Refrigerated vans, trucks, trailers, refrigerated railcars, refrigerated ships, refrigerated air transport, refrigerated containers, atmosphere-controlled containers, intermodal refrigerated containers, insulated containers, integral reefer containers, and multimodal temperature containers are some instances of refrigerated vehicles. One of the major elements driving up demand for refrigerated vehicles around the world is increased consumer awareness regarding fresh products.

The cold-supply chain infrastructure in emerging and impoverished countries is inadequate, resulting in the annual destruction of a considerable amount of food. Food manufacturers’ and distributors’ warehousing costs will rise as a result of the need to maintain local distribution points in the demand area. The growing population and rising per capita income in these countries is driving up demand for food products, which in turn is driving up demand for refrigerated vehicles. In recent years, dairy product consumption in Asia Pacific countries has also increased significantly. In these emerging countries, the pharmaceutical and healthcare industries have been rapidly expanding, resulting in increased demand for refrigerated vehicles in this sector. The refrigerated vehicle business has several challenges, including a scarcity of skilled workers and volatile fuel prices. Companies in the refrigerated vehicle business are working to improve the vehicles’ fuel efficiency and noise reduction. In recent years, refrigerated truck manufacturers have developed and introduced a number of new technologies. Great Dane’s CorroGuard and ThermGuard, R.O. M’s Strip door solution for refrigerated trucks, RTE’s GRIPTM, Carrier’s LED-based indicator, Johnson’s economical cold plates, PAR’s reefer monitoring system, Star-reefer-Trak Trak’s sentry solutions, OEM Group’s Secureseal system, Robert Bosch’s new alternator, and Terion’s Fleet view are among them.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- Ingersol Rand Company Ltd., Mitsubishi Heavy Industries Ltd., and Thermo King, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Refrigerated Vehicle Market Report by Segment

By Type

• Frozen
• Chilled

By Application

• Refrigerated Vans
• Refrigerated Trucks
• Refrigerated Trailers
• Refrigerated Railcars
• Refrigerated Ships
• Refrigerated Transport by Air
• Refrigerated Containers
• Others