IMARC Group’s latest report on the “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 opportunity, overview, statistics size, share, trends, demand, and growth prospects. The report also provides competitor and regional analysis and showcases the contemporary advancements in the global 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 Market?
Refrigerated trucks are those trucks that are specifically designed to carry perishable commodities at specific temperatures. These commodities are chilled or frozen for preservation during shipment. These trucks can be ice-cooled, equipped with various mechanical refrigeration systems powered by small displacement diesel engines, or use carbon dioxide as a cooling agent. They often have small “vent doors” at the rear and front of the trailer. They are extensively utilized for many products in addition to foods that need temperature control.
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What are the Growth Prospects and Trends in the Refrigerated Trucks Market?
The global market is primarily driven by the rising demand for temperature-controlled transportation of perishable goods, including food, pharmaceuticals, and chemicals. In line with this, the growing demand for fresh and frozen foods and the subsequent increase in the food industry’s supply chain complexity is significantly contributing to the market growth. Furthermore, the growing importance of food safety and quality is catalyzing the need for temperature-controlled transportation and storage. Apart from this, the expansion of the global cold chain network and the escalating demand for home delivery services of perishable goods are propelling the market. Moreover, the rapid technological advancements in refrigeration systems and telematics solutions are expected to create a positive outlook for the market.
Besides, the growing regulatory requirements for transporting and storing temperature-sensitive products, such as vaccines and biologics, are strengthening the market. Additionally, the rising requirement for specialized refrigerated trucks to transport hazardous materials is providing a boost to the market. Other factors driving the market include growing demand for pharmaceuticals and biologics, rapid adoption of sustainable transportation solutions, growth of e-commerce and online grocery shopping, and the escalating demand for customized refrigerated trucks to meet specific transportation needs of various industries, such as dairy, meat, and seafood.
What is included in Market Segmentation?
Competitive Landscape with Key Players:
- Chereau
- Eicher Motors Limited
- Hyundai Hong Kong Co. Limited
- Mahindra & Mahindra Limited
- Tata Motors Limited
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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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