NEW
YORK, June 18, 2024 /PRNewswire/ -- The
global refrigerated road transportation market size is
estimated to grow by USD
4.36 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of about 7.3%
during the forecast period. Rising initiatives to
promote cold chain is driving market growth, with a trend
towards advances in refrigerator monitoring systems.
However, losses due to temperature excursion poses a
challenge. Key market players include AP Moller Maersk AS, Bay and
Bay Transportation, C H Robinson Worldwide Inc., Carrier Global
Corp., CMA CGM Group, CRST The Transportation Solution Inc., Daikin
Industries Ltd., DB Schenker, Deutsche Post AG, FedEx Corp., GAH
Refrigeration LTD., Great Dane LLC, Knight Swift Transportation
Holdings Inc., Mike Frost Trucking Inc., Unternehmensgruppe Theo
Muller, WEL Companies Inc., West Coast Carriers, Witte Bros
Exchange Inc., and XPO Inc..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Type (Refrigerated
trailers and Refrigerated vans), Application (Chilled food and
Frozen food), and Geography (APAC, North America, Europe, South
America, and Middle East and Africa)
|
Region
Covered
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Key companies
profiled
|
AP Moller Maersk AS,
Bay and Bay Transportation, C H Robinson Worldwide Inc., Carrier
Global Corp., CMA CGM Group, CRST The Transportation Solution Inc.,
Daikin Industries Ltd., DB Schenker, Deutsche Post AG, FedEx Corp.,
GAH Refrigeration LTD., Great Dane LLC, Knight Swift Transportation
Holdings Inc., Mike Frost Trucking Inc., Unternehmensgruppe Theo
Muller, WEL Companies Inc., West Coast Carriers, Witte Bros
Exchange Inc., and XPO Inc.
|
Key Market Trends Fueling Growth
Refrigerated road transportation companies are increasingly
adopting smart refrigerator monitoring systems to enhance control,
efficiency, and cost savings. Traditional monitoring systems only
allow temperature adjustments and status checks. However, smart
systems offer remote access via smartphones, tablets, or desktops.
Major players like 75F Inc provide automated monitoring solutions,
reducing turnaround time and maintenance costs. These benefits will
drive market growth, leading to more vendors integrating
refrigerator monitoring systems in the forecast period.
The Refrigerated Road Transportation market is experiencing
significant growth due to the increasing demand for perishable
goods. This sector is crucial for maintaining the cold chain,
ensuring food safety and reducing food waste. Fuel efficiency and
sustainability are key trends in this industry. Companies are
investing in advanced technologies like fuel-efficient engines,
temperature-controlled trailers, and telematics to optimize their
operations. Additionally, the rise of e-commerce and the need for
quick delivery of temperature-sensitive products are driving market
expansion. Overall, the Refrigerated Road Transportation market is
an essential component of the global logistics network, providing
efficient and reliable transportation solutions for various
industries.
Research report provides comprehensive data on
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Market Challenges
• Refrigerated
road transportation is a critical market segment, particularly for
industries dealing with temperature-sensitive goods, such as
biopharma. Temperature excursions, a common issue, result in
significant losses due to product damage and equipment replacement
costs. The biopharma industry alone experiences approximately
USD35 billion in annual losses.
Temperature fluctuations can lead to product adulteration,
rendering it unsellable and negatively impacting both manufacturers
and service providers' profitability. Additional labor costs
further reduce profit margins, hindering market growth.
• The
Refrigerated Road Transportation market faces several challenges.
Fuel costs are a significant concern, requiring continuous
optimization of routes and vehicle utilization. Regulations, such
as temperature control and food safety, add complexity and increase
costs. Technological advancements, like GPS tracking and
refrigeration systems, help address these challenges but also
require substantial investment. Consumers' increasing demand for
fresh produce and perishable goods puts pressure on the industry to
ensure timely and efficient delivery. Additionally, competition
from alternative transportation methods, like rail and air,
necessitates continuous improvement and innovation. Overall, the
Refrigerated Road Transportation market must balance cost,
regulation, technology, and consumer demand to remain
competitive.
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challenges - Download a Sample Report
Segment Overview
This refrigerated road transportation market report extensively
covers market segmentation by
- Type
- 1.1 Refrigerated trailers
- 1.2 Refrigerated vans
- Application
- 2.1 Chilled food
- 2.2 Frozen food
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Refrigerated trailers- Refrigerated trailers
play a crucial role in transporting temperature-sensitive dairy
products over long distances. These products, including milk,
yogurt, and cheese, are highly perishable and susceptible to
microbial growth. Maintaining a low temperature during
transportation is essential to preserve their nutritional value and
extend their shelf life. The global milk market is projected to
grow by 22% by 2030, with significant production increases in APAC,
particularly India and
Pakistan. This expanding dairy
market will drive the demand for refrigerated trailers in
refrigerated road transportation.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The Refrigerated Road Transportation Market plays a crucial role
in the Cold Chain Logistics sector, ensuring the safe and efficient
transportation of Perishable Goods, including Dairy Products,
Confectionery, and Frozen Foods. Food Safety and Waste Reduction
are top priorities in this industry, leading to the adoption of
Eco-Friendly Solutions and Sustainability practices. Transport
Refrigeration Systems, available in Single Temperature and
Multi-Temperature Systems, are essential for maintaining product
temperature during transit. Diesel and Electric-powered
refrigeration trucks are used extensively in this market. Fast Food
Chains and Quick Service Restaurants rely heavily on these systems
for the timely delivery of their offerings. Pharmaceutical Items
also benefit from refrigerated transport, requiring specific
temperature conditions for optimal efficacy. Affordability and
Accessibility remain key challenges in the market, driving
innovation and technological advancements.
Market Research Overview
The Refrigerated Road Transportation Market encompasses the
transportation of perishable goods using refrigerated trucks. This
sector plays a crucial role in ensuring the freshness and quality
of food products, pharmaceuticals, and other temperature-sensitive
commodities. The market is driven by factors such as increasing
consumer preference for fresh and high-quality products, growing
demand for refrigerated logistics services, and advancements in
refrigerated transportation technology. The market is segmented
based on the type of goods transported, including food and
beverages, pharmaceuticals, and other temperature-sensitive
commodities. The market is also geographically segmented into
various regions, including North
America, Europe,
Asia Pacific, and the Middle East and Africa. The use of advanced technologies such
as GPS tracking, temperature monitoring, and real-time inventory
management systems is increasing in the market to enhance
efficiency and improve customer service. The market is expected to
grow at a significant rate in the forecast period due to these
factors.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Refrigerated Trailers
- Refrigerated Vans
- Application
-
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio