The refrigerated transport market was valued at USD 13.93 billion in 2017 and is projected to reach USD 19.29 billion by 2023, growing at a CAGR of 5.67% during the forecast period. The market is driven by factors such as increased trading due to globalization and growing trend of purchasing chilled and frozen food products especially in the emerging countries of Asia Pacific, South America, and the Middle East. Apart from this, government initiatives in the developing countries for infrastructure and logistics development are further gaining interests of the local players to expand their services.
The years considered for the study are as follows:
- Base year: 2017
- Estimated year: 2018
- Projected year: 2023
- Forecast period: 2018–2023
Objectives of the study are as follows:
- To define, segment, and measure the refrigerated transport market with respect to its application, mode of transportation, technology, temperature, and region
- To provide detailed information about the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze the complete value chain and supply chain of frozen & chilled food products that are transported under temperature-controlled conditions
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for the market leaders
- To profile the key players and comprehensively analyze their core competencies
- To analyze the competitive developments new product developments, mergers & acquisitions, investments, expansions, joint ventures, collaborations, and supply contracts in the refrigerated transport market
- To profile the key refrigerated road transport companies with respect to the business overview, recent financials, segmental revenue mix, geographic presence, and information about the products & services
- The market has been covered by mapping just the road subsegment under the mode of transportation segment (LCV, MHCV, and HCV)
Research Methodology
The research methodology used to estimate and forecast the refrigerated transport market begins with capturing data on key players and their revenues through secondary sources, such as International Frozen Food Association, American Frozen Food Institute, British Frozen Food Federation, USDA, and Global Cold Chain Alliance. The overall market size was arrived after validating with primary interviews and secondary research which includes publications and statistics. Both “top-down” and “bottom-up” approaches were used to estimate and validate the total size of the market. These approaches were also used extensively to estimate the market size of various dependent submarkets in the overall refrigerated transport market, which are further verified through primary research by conducting extensive interviews with key people, such as CEOs, VPs, directors, and executives. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.
The key players in the refrigerated transport market include service provider companies, such as United Technologies (US), Daikin Industries (Japan), Ingersoll-Rand (Ireland), China International Marine Containers (China), and Utility Trailer (US). Other key players include Singamas Container (China), Hyundai (South Korea), Schmitz Cargobull (Germany), Fahrzeugwerk Bernard Krone (Germany), and Lamberet (France).
