Road Transport Refrigeration Equipment Market By Product Type (Van Refrigeration System and Bodies, Truck Refrigeration System and Bodies, Trailer Refrigeration System and Bodies and Others) and Application (Food/Beverages, Pharmaceuticals/Chemicals, Plants/Flowers and Others) - Global Industry Analysis And Forecast To 2025
The transport refrigeration (or reefer cargo) is a strategy for delivery cargo that needs special, vehicles with controlled temperature. These vehicles transporting the items being sent has a refrigeration system in-built which keeps the items at a coveted temperature all through the transportation procedure. The initial simple variant of this field was conceived during the 1800s, when the transporters for cargo would put ice and salt underneath the products that were temperature-sensitive in the transportation. This procedure was terribly wasteful and definitely prompted significant misfortunes in the estimation of profitability and goods. During the 1900s, more proficient methods of were developed in this field, and upgrades in innovation have given the logistics of cold chain, which has turned into a gigantic industry and keeps on developing. Therefore, the Road Transport Refrigeration Equipment Market is anticipated to expand and has tremendous scope during the forecast period. The global Road Transport Refrigeration Equipment Market anticipated to flourish in the future by growing at a significantly higher CAGR.
Drivers & Restrains
The driving factors of the market are; rising globalization, rising demand for the food products with controlled temperature, rising demand for various chilled & frozen food products like the dairy products, fresh fruits & vegetables, processed meat, fish & seafood, frozen dairy products, ice creams & others across the globe, and various other factors. The restraining factors of the market are; less number of skilled labors available & less development in these services provided in some economies.
The Asia Pacific region is leading the global Road Transport Refrigeration Equipment Market owing to factors like increasing demand frozen & chilled food products, more number of consumers, rising development in the automotive sector in this region, etc.
Road Transport Refrigeration Equipment Market, By Region
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and market share of the overall industry.
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2025?
What will be the industry market growth from 2015 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?