“Refrigerated Transport Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on refrigerated transport market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for refrigerated transport? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The refrigerated transport market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Transport Type: Refrigerated Road Transport; Refrigerated Medium & Heavy Commercial Vehicles (MHCV); Refrigerated Light Commercial Vehicles (LCV); Refrigerated Heavy Commercial Vehicles (HCV)); Refrigerated Sea Transport; Refrigerated Rail Transport; Refrigerated Air Transport
- 2) By Temperature: Single Temperature; Multi-Temperature
- 3) By Application: Chilled Food; Frozen Food
- Companies Mentioned: United Technologies Corporation; DAIKIN INDUSTRIES Ltd.; Ingersoll Rand; China International Shipping Containers; Utility Trailer Manufacturing Company
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery Format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the refrigerated transport market are: United Technologies Corporation, DAIKIN INDUSTRIES Ltd., Ingersoll Rand, China International Shipping Containers, Utility Trailer Manufacturing Company, Singamas Container Holdings Limited, Hyundai, Schmitz Cargobull, KRONE, LAMBERET SAS, Tata Motors, VE Commercial Vehicles Limited, Shaanxi Tianhui Inlong Trading Co. Ltd., Wabash National Corporation, Great Dane LLC, C. H. Robinson, FedEx, DB Schenker, General Mills, Tyson Foods, Smithfield Foods, Kellogg Company, Conagra Brands, Kerry Group plc, Kapsch Traffic Com, Gemalto NV, Thales Group, and Alstom.
The global refrigerated transport market is expected to grow from $105.21 billion in 2022 to $114.5 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The refrigerated transport market is expected to grow to $155.64 billion in 2027 at a CAGR of 8.0%.
The refrigerated transport market includes revenues earned by providing transportation services such as insulation vans, chiller conversion vans, semi-freezer vans, and full-freezer vans. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Refrigerated transport is a method of transporting shipments with specially designed temperature-controlled trucks. The transporting trucks have a built-in refrigeration system that cools the shipments at a regulated temperature all through the process of shipping. These are used for transporting perishable products such as meats, vegetables fruits, and sausages, pharmaceutical products.
Europe was the largest region in the refrigerated transport market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the refrigerated transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of transport in refrigerated transport market are refrigerated road transport, refrigerated medium & heavy commercial vehicles (MHCV), refrigerated light commercial vehicles (LCV), refrigerated heavy commercial vehicles (HCV)), refrigerated sea transport, refrigerated rail transport, refrigerated air transport. Refrigerated light commercial vehicles (LCV)are used in shipments with specially designed temperature-controlled trucks. Refrigerated road transport refers to a way of carrying goods using temperature-controlled trucks. The various types of temperatures include single temperature and multi-temperature that are used in chilled food and frozen food applications.
The rise in frozen food products is driving the growth of the refrigerated transport market. Frozen variants refer to pre-treatment and include processes such as blanching, heat treatments, dipping treatments, and cryoprotection, depending on the items being frozen. Widespread usage of frozen variants of various fresh products is increasing as it can increase vegetable intake because they are easily accessible and cheaper. For instance, according to WahUstad, an India-based fresh frozen food manufacturer & supplier, in April 2021, the frozen food market in India has increased by 40-50% for frozen fresh items and appears to be rising by 10 to 15% in the coming years. Furthermore, according to Grocery, a UK-based premium food store chain, there is a 16% spike in sales of frozen food in the UK as early as April 2020, with frozen choices proving popular for people wishing to stock up on huge quantities of food. Therefore, the rise in frozen food products is expected to propel the growth of the refrigerated transport market in the coming years.
Technological innovations are the key trends gaining popularity in the refrigerated transport market. Major companies operating in the market are focused on introducing new technologies to sustain their position in the market. For instance, in 2021, Thermo King, a US-based company engaged in transport temperature control systems launched its innovative product T-80E series units. The unique features of T-80E series units have enhanced temperature control accuracy in the truck's cold compartment, as well as an engine with lower emissions to the environment, higher performance, lower maintenance cost, longer life, and better cost efficiency, all of which contribute to a lower total cost of ownership.
In March 2022, Lineage Logistics, a US-based company engaged in temperature-controlled logistics acquired MTC Logistics for an undisclosed amount. With this acquisition, lineage will gain over 38 million cubic feet of capacity and over 113,000 pallet positions in the United States by acquiring these four facilities. Lineage's existing footprint of over 400 strategically situated facilities comprising over 2 billion cubic feet of capacity across 19 countries will be expanded by these facilities. MTC Logistics is a US-based company engaged in refrigerated and frozen warehousing and transportation business.
The countries covered in the refrigerated transport market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The refrigerated transport report is one of a series of new reports from The Business Research Company that provides refrigerated transport statistics, including refrigerated transport industry global market size, regional shares, competitors with a refrigerated transport share, detailed refrigerated transport segments, market trends and opportunities, and any further data you may need to thrive in the refrigerated transport industry. This refrigerated transport market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Refrigerated Transport Market Characteristics
3. Refrigerated Transport Market Trends And Strategies
4. Refrigerated Transport Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Refrigerated Transport Market
- 4.2. Ukraine-Russia War Impact On Refrigerated Transport Market
- 4.3. Impact Of High Inflation On Refrigerated Transport Market
5. Refrigerated Transport Market Size And Growth
- 5.1. Global Refrigerated Transport Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Refrigerated Transport Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Refrigerated Transport Market Segmentation
- 6.1. Global Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Refrigerated Road Transport
- Refrigerated Medium and Heavy Commercial Vehicles (MHCV)
- Refrigerated Light Commercial Vehicles (LCV)
- Refrigerated Heavy Commercial Vehicles (HCV))
- Refrigerated Sea Transport
- Refrigerated Rail Transport
- Refrigerated Air Transport
- 6.2. Global Refrigerated Transport Market, Segmentation By Temperature, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Single Temperature
- Multi-Temperature
- 6.3. Global Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Chilled Food
- Frozen Food
7. Refrigerated Transport Market Regional And Country Analysis
- 7.1. Global Refrigerated Transport Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Refrigerated Transport Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Refrigerated Transport Market
- 8.1. Asia-Pacific Refrigerated Transport Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Refrigerated Transport Market
- 9.1. China Refrigerated Transport Market Overview
- 9.2. China Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Refrigerated Transport Market
- 10.1. India Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Refrigerated Transport Market
- 11.1. Japan Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Refrigerated Transport Market
- 12.1. Australia Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Refrigerated Transport Market
- 13.1. Indonesia Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Refrigerated Transport Market
- 14.1. South Korea Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Refrigerated Transport Market
- 15.1. Western Europe Refrigerated Transport Market Overview
- 15.2. Western Europe Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Refrigerated Transport Market
- 16.1. UK Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Refrigerated Transport Market
- 17.1. Germany Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Refrigerated Transport Market
- 18.4. France Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.5. France Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Refrigerated Transport Market
- 19.1. Eastern Europe Refrigerated Transport Market Overview
- 19.2. Eastern Europe Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Refrigerated Transport Market
- 20.1. Russia Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Refrigerated Transport Market
- 21.1. North America Refrigerated Transport Market Overview
- 21.2. North America Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Refrigerated Transport Market
- 22.1. USA Refrigerated Transport Market Overview
- 22.2. USA Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Refrigerated Transport Market
- 23.1. South America Refrigerated Transport Market Overview
- 23.2. South America Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Refrigerated Transport Market
- 24.1. Brazil Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Refrigerated Transport Market
- 25.1. Middle East Refrigerated Transport Market Overview
- 25.2. Middle East Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Refrigerated Transport Market
- 26.1. Africa Refrigerated Transport Market Overview
- 26.2. Africa Refrigerated Transport Market, Segmentation By Transport Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Refrigerated Transport Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Refrigerated Transport Market Competitive Landscape And Company Profiles
- 27.1. Refrigerated Transport Market Competitive Landscape
- 27.2. Refrigerated Transport Market Company Profiles
- 27.2.1. United Technologies Corporation
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. DAIKIN INDUSTRIES Ltd.
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Ingersoll Rand
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. China International Shipping Containers
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. Utility Trailer Manufacturing Company
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Refrigerated Transport Market
29. Refrigerated Transport Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer