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 trends, overview, statistics size, share, 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 referred to as reefers, represent specialized vehicles that are equipped with a refrigeration system for the transportation of temperature-sensitive and perishable goods. They have an insulated body that aids in maintaining a consistent temperature by restricting heat transfer from outside, as well as a ventilation system that facilitates proper air circulation. These trucks are available in varying sizes and loading capacities that can also serve as mobile refrigeration units, allowing for the temporary storage of items in remote locations or during events. Refrigerated trucks are mainly used to transport perishable food products, medical supplies, chemicals, and pharmaceuticals that need a specific temperature range to maintain their quality and safety. In addition to this, these vehicles transport goods directly from the source to the destination, which reduces the requirement for intermediate storage facilities, effectively increasing efficiency and lowering costs.
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What are the Growth Prospects and Trends in the Refrigerated Trucks Market?
The expanding cold chain logistics sector and the increasing number of food retail services are among the primary factors driving the refrigerated trucks market. In line with this, the rising consumer preference towards chilled, frozen, and processed meals, owing to hectic work schedules and sedentary lifestyles, is further augmenting the market growth. Besides this, the extensive availability of ready-to-cook snacks, seasonal fruits, and vegetables across several brick-and-mortar and online distribution channels is also catalyzing the global market. Moreover, the escalating demand for the safe transportation of temperature-sensitive products, including vaccines, biopharmaceuticals, clinical trial materials, etc., is acting as another significant growth-inducing factor. Furthermore, the emerging trend of hybrid vehicles with phase change material (PCM) technology offering improved energy efficiency and enhanced operational features is anticipated to propel 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.
Who we are:
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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