31-Aug-2018 | Zion Market Research
Zion Market Research has published a new report titled “Cold Chain Equipment Market By Product (Storage and Transport) for Meat, Fish & Seafood, Dairy & Frozen Desserts, Vegetables & Fruits, Bakery & Confectionary and Others End-Uses - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2016 - 2026”. According to the report, global demand for cold chain equipment market was valued at approximately USD 102.26 billion in 2019, and is expected to generate revenue of around USD 195.88 billion by end of 2026, growing at a CAGR of around 9.8% between 2020 and 2026.
Browse the full “Cold Chain Equipment Market By Product (Storage and Transport) for Meat, Fish & Seafood, Dairy & Frozen Desserts, Vegetables & Fruits, Bakery & Confectionary and Others End-Uses - Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2016 - 2026.” Report at https://www.zionmarketresearch.com/report/cold-chain-equipment-market
With the presence of a large pool of participants, the global cold chain equipment market is displaying a highly competitive business landscape. Cloverleaf Cold Storage, AmeriCold Logistics, A.B. Oxford Cold Storage, Burris Logistics, and Lineage Logistics, are some of the key vendors of cold chain equipment across the world. These players across cold chain equipment market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key growth strategy across cold chain equipment market, states the market study.
Reportedly, in January 2018, the President of Westfalia Technologies advised its consumers to manually pre- pick up orders from the cold storage equipment and deliver them before the trucks arrive for picking up the products. It is speculated that the decision to store the products in the cold storage is aimed to help it avoid getting spoiled. Analysts predict that such initiatives are likely to provoke the growth of cold chain equipment market over the years to come.
The main products available in the cold chain equipment market are storage equipment and transport equipment. Among these two, the demand for storage equipment is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Increasing Need for Reducing Food Wastage Will Spur Market’s Growth
Growing requirement for increasing the shelf life of products such as chemicals, drugs, and vaccines along with ensuring their safety & quality is likely to enhance the cold chain equipment market demand. Apart from this, the escalating need for food storage & preservation along with humungous popularity of frozen food products is forecast to uplift cold chain equipment market growth over the coming years.
High deployment costs and strict government legislations, however, are predicted to impede the progress of cold chain equipment market. Nevertheless, mounting food requirement across developing economies is projected to result in greater demand for the product in the near future, normalizing the impact of hindrances on the cold chain equipment market, reports the study.
Growing Cold Chain Logistics Preference to Support APAC Maintain Dominance
Regionally, Asia Pacific has been leading the worldwide cold chain equipment market and is anticipated to continue on the dominant position in the years to come. Increase in the installation of cold chain equipment in countries such as China and India is the main factor behind the dominance of the Asia Pacific cold chain equipment market. In addition to this, the rising trend of cold chain logistics in the developing countries is projected to contribute substantially towards the growth of cold chain equipment market in the region.
This report segments the global cold chain equipment market as follows:
Global Cold Chain Equipment Market: Product Segment Analysis
Global Cold Chain Equipment Market: End User Segment Analysis
Global Cold Chain Equipment Market: Regional Segment Analysis
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