Refrigerated Trucks Market Share, Size, Trend Analysis, and Forecast 2023-2028
According to IMARC Group’s latest research report, titled “Refrigerated Trucks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” presents a comprehensive analysis of the industry, covering refrigerated trucks market share, overview, statistics size, trends, demand, and growth prospects. The report also provides competitor and regional analysis and showcases the contemporary advancements in the global market.
How big is the Refrigerated Trucks Market?
The global refrigerated trucks market size reached US$ 9.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028.
What are Refrigerated Trucks?
Refrigerated trucks, also known as reefers, are specialized vehicles designed to transport perishable and temperature-sensitive goods. They ensure the goods remain at the required temperature throughout the journey. As refrigerated trucks are equipped with an insulated body, they prevent heat transfer from the external environment and facilitate proper air circulation through a ventilation system. These trucks maintain a consistent temperature range, capable of both extremely hot and freezing temperatures. The primary use of refrigerated trucks is for transporting perishable food products, medical supplies, chemicals, and pharmaceuticals that necessitate specific temperature conditions for quality and safety preservation. Commonly available in various sizes and loading capacities, they can also function as mobile refrigeration units, temporarily storing temperature-sensitive goods in remote areas or during events. These trucks reduce the reliance on intermediate storage facilities by enabling direct transportation from the source to the destination.
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What are the Growth Prospects and Trends in the Refrigerated Trucks Market?
The market growth is primarily fueled by the rapid expansion of the cold chain logistics industry. This is driven by the globalization of the food trade, resulting in increased transportation of food products across regions and countries. Additionally, the enforcement of strict food safety regulations by government bodies in various countries contributes to market growth. Continual technological advancements in refrigeration systems, such as energy efficiency and eco-friendly features, including instant frost systems, positively impact the market. Furthermore, the rising demand for temperature-sensitive pharmaceuticals, such as vaccines and drugs, drives the need for refrigerated trucks in the medical sector. The market is further propelled by the surge in long-distance e-commerce deliveries of perishable and frozen goods ordered online. The increasing focus on reducing food waste throughout the food supply chain due to growing environmental awareness, is anticipated to fuel the refrigerated trucks market over the forecasted period.
Who are the key Players Operating in the Industry?
- Chereau
- Eicher Motors Limited
- Hyundai Hong Kong Co. Limited
- Mahindra & Mahindra Limited
- Tata Motors Limited
What is included in Market Segmentation?
The report has segmented the market into the following categories:
Type Insights:
- Light Commercial Vehicle
- Medium Commercial Vehicle
- Heavy Commercial Vehicle
Tonnage Capacity Insights:
- Less Than 10 Tons
- 10-20 Tons
- More Than 20 Tons
Application Insights:
- Food and Beverage
- Pharmaceuticals
- Chemicals
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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