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Refrigerated Vehicle Market - Global Industry Analysis

Refrigerated Vehicle Market by Vehicle Type (Insulated Container, Refrigerated Truck, Refrigerated Transport by Air, Multimodal Temperature Container, and Atmosphere Controlled Container), By Product (Frozen and Chilled): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 19-Aug-2021 Category: Consumer Goods Report Format : PDF Pages: 145 Report Code: ZMR-2782 Status : Published

The global Refrigerated Vehicle market accounted for USD 12.6 Billion in 2020 and is expected to reach USD 19.7 Billion by 2028, growing at a CAGR of around 5.4% between 2021 and 2028.

Description

Market Overview     

The global Refrigerated Vehicle market accounted for USD 12.6 Billion in 2020 and is expected to reach USD 19.7 Billion by 2028, growing at a CAGR of around 5.4% between 2021 and 2028.      

The refrigerated vehicle is temperature maintained vehicles carrying the products which get affected by outside temperature. It maintains the temperature ranges from -30oc to 400c. It is necessary to increase the shelf life of the product and protect it from external environmental conditions and maintain their chemical and biological properties. It is helpful for transport of vegetable, food products, pharmaceutical and healthcare products. Owing to which, the refrigerated vehicle has huge demand worldwide. Thus it is expected to spurt the growth of refrigerated vehicle market over the forecast period.

COVID-19 Impact Analysis  

The global Refrigerated Vehicle market has witnessed a slight decline during the pandemic. The restrictions imposed by various nations to contain COVID had stopped the production resulting in a disruption across the whole supply chain. However, the global markets are slowly opening to their full potential and theirs a surge in demand.

The market would remain lucrative in upcoming year.  The decrease in the global Refrigerated Vehicle market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Global Refrigerated Vehicle Market Size

Growth Factors

The refrigerated vehicle market is expected to witness substantial growth within the forecast period. The market is driven by increasing demand for frozen food and ready to eat foods. Moreover, various pharmaceutical and biotech products need protection from heat and sunlight to maintain their formulation which is positively affecting refrigerated vehicle market. However, the increasing oil prices globally may restrain the growth of this market.

Manufacturers are focusing on expanding customer base geographically or through new services, R&D, and joint venture. For instance, global leader Maersk line launched new service between Asia and Latin America in Jan 2018 to improve its product offering in the region connecting Asia to Colombia, the Caribbean, and Pecem. This offered greater port coverage and reduced transit time. Moreover, two leading manufacturers Carrier transicold and Singamas Container Holdings Ltd. has developed a new refrigerated shipping container PrimeLINE ONE. Thus new innovations and launches will leverage the potential of the global refrigerated vehicle market.

Report Scope:  

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Segment Analysis Preview  

On the basis of the type of product, the global refrigerated vehicle market is segmented into frozen and chilled. As frozen foods are convenient to eat and are also time-saving the increase in demand for frozen foods is expected to boost growth rate for refrigerated vehicle market. In addition, changing dietary pattern of consumers, increase in cold-chain infrastructure and globalization in food trades is anticipated to affect the market positively.

On the basis of vehicle type, the global refrigerated vehicle market is segmented into an insulated container, refrigerated truck, atmosphere-controlled container, refrigerated transport by air, multimodal temperature container and others. Of which refrigerated container is a fastest growing segment of all.

Global Refrigerated Vehicle Market Share

Regional Analysis Preview  

In 2020, Europe was the largest market for refrigerated vehicles. This growth is mainly due to the busy lifestyle of people, changing food habits and increasing awareness regarding benefits of nutrition value of frozen foods. Moreover increasing population with high disposable income is expected to boost the demand for refrigerated vehicle in Asia Pacific region. North America is another key regional market and is expected to show significant growth in near future on account of increasing demand for frozen foods and healthcare products. The Middle East & Africa is expected to be the fastest growing refrigerated vehicle market owing to increasing middle-class population which is projected to increase demand for frozen foods.

Global Refrigerated Vehicle Market Regional Analysis

Key Market Players & Competitive Landscape

Some of the major players of the global Refrigerated Vehicle market include Carrier Transicold, CMA CGM, GAH Refrigeration, Maersk Line, MSC, Swift Transportation. Other prominent vendors in the market are Continental Air Cargo, Air Canada Cargo, Bay & Bay, Cold Chain Technologies, Culina Group, Agility, FedEx, DB Schenker, Frost Trucking, Biocair, FST Logistics, NYK Line, UPS, Avinex Ukr, Biotec Services among others.

The global Refrigerated Vehicle Market is segmented as follows:

By Vehicle Types

  • Insulated Container
  • Refrigerated Truck
  • Refrigerated Transport By Air
  • Multimodal Temperature Container
  • Atmosphere Controlled Container

By Product

  • Frozen
  • Chilled

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Vehicle Type
        • 2.1.1.2. Market Attractiveness Analysis, By Product
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Refrigerated Vehicle Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Refrigerated Vehicle Market – Vehicle Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Vehicle Type, 2020 & 2028
    • 4.2. Insulated container
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Refrigerated truck
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Refrigerated transport by air
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Multimodal temperature container
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Atmosphere contrulled container
      • 4.6.1. Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Refrigerated Vehicle Market – Product Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By Product, 2020 & 2028
    • 5.2. Frozen
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Chilled
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 6 Refrigerated Vehicle Market – Regional Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.2.2. North America Market Revenue, By Vehicle Type, 2016 – 2028
      • 6.2.3. North America Market Revenue, By Product, 2016 – 2028
      • 6.2.5. U.S.
        • 6.2.5.1. U.S. Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.2.5.2. U.S. Market Revenue, By Product, 2016 – 2028
      • 6.2.6. Canada
        • 6.2.6.1. Canada Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.2.6.2. Canada Market Revenue, By Product, 2016 – 2028
      • 6.2.7. Mexico
        • 6.2.7.1. Mexico Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.2.7.2. Mexico Market Revenue, By Product, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.3.2. Europe Market Revenue, By Vehicle Type, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By Product, 2016 – 2028
      • 6.3.5. Germany
        • 6.3.5.1. Germany Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.3.5.2. Germany Market Revenue, By Product, 2016 – 2028
      • 6.3.6. France
        • 6.3.6.1. France Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.3.6.2. France Market Revenue, By Product, 2016 – 2028
      • 6.3.7. U.K.
        • 6.3.7.1. U.K. Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.3.7.2. U.K. Market Revenue, By Product, 2016 – 2028
      • 6.3.8. Italy
        • 6.3.8.1. Italy Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.3.8.2. Italy Market Revenue, By Product, 2016 – 2028
      • 6.3.9. Spain
        • 6.3.9.1. Spain Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.3.9.2. Spain Market Revenue, By Product, 2016 – 2028
      • 6.3.10. Rest of Europe
        • 6.3.10.1. Rest of Europe Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.3.10.2. Rest of Europe Market Revenue, By Product, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.4.2. Asia Pacific Market Revenue, By Vehicle Type, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By Product, 2016 – 2028
      • 6.4.5. China
        • 6.4.5.1. China Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.4.5.2. China Market Revenue, By Product, 2016 – 2028
      • 6.4.6. Japan
        • 6.4.6.1. Japan Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.4.6.2. Japan Market Revenue, By Product, 2016 – 2028
      • 6.4.7. India
        • 6.4.7.1. India Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.4.7.2. India Market Revenue, By Product, 2016 – 2028
      • 6.4.8. South Korea
        • 6.4.8.1. South Korea Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.4.8.2. South Korea Market Revenue, By Product, 2016 – 2028
      • 6.4.9. South-East Asia
        • 6.4.9.1. South-East Asia Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.4.9.2. South-East Asia Market Revenue, By Product, 2016 – 2028
      • 6.4.10. Rest of Asia Pacific
        • 6.4.10.1. Rest of Asia Pacific Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.4.10.2. Rest of Asia Pacific Market Revenue, By Product, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.5.2. Latin America Market Revenue, By Vehicle Type, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By Product, 2016 – 2028
      • 6.5.5. Brazil
        • 6.5.5.1. Brazil Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.5.5.2. Brazil Market Revenue, By Product, 2016 – 2028
      • 6.5.6. Argentina
        • 6.5.6.1. Argentina Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.5.6.2. Argentina Market Revenue, By Product, 2016 – 2028
      • 6.5.7. Rest of Latin America
        • 6.5.7.1. Rest of Latin America Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.5.7.2. Rest of Latin America Market Revenue, By Product, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Vehicle Type, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By Product, 2016 – 2028
      • 6.6.5. GCC Countries
        • 6.6.5.1. GCC Countries Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.6.5.2. GCC Countries Market Revenue, By Product, 2016 – 2028
      • 6.6.6. South Africa
        • 6.6.6.1. South Africa Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.6.6.2. South Africa Market Revenue, By Product, 2016 – 2028
      • 6.6.7. Rest of Middle-East Africa
        • 6.6.7.1. Rest of Middle-East Africa Market Revenue, By Vehicle Type, 2016 – 2028
        • 6.6.7.2. Rest of Middle-East Africa Market Revenue, By Product, 2016 – 2028
  • Chapter No. 7: Refrigerated Vehicle Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8: Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Refrigerated Vehicle Market: Company Market Share, 2019
      • 8.1.2. Global Refrigerated Vehicle Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 8.1.3. Global Refrigerated Vehicle Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Refrigerated Vehicle Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Vehicle Type Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9: Company Profiles
    • 9.1. Carrier Transiculd
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Vehicle Type Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. CMA CGM
    • 9.3. GAH Refrigeration
    • 9.4. Maersk Line
    • 9.5. Swift Transportation
    • 9.6. Continental Air Cargo
    • 9.7. Air Canada Cargo
    • 9.8. Bay & Bay
    • 9.9. Culd Chain Technulogies
    • 9.10. Culina Group
    • 9.11 Frost Trucking
  • Chapter No. 10: Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11: Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Vehicle Type
FIG NO. 2. Market Attractiveness Analysis, By Product
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Refrigerated Vehicle Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Vehicle Type, 2020 & 2028 
FIG NO. 7. Global Refrigerated Vehicle Market for Insulated container, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Refrigerated Vehicle Market for Insulated container, By Country, 2020 & 2028
FIG NO. 9. Global Refrigerated Vehicle Market for Refrigerated truck, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Refrigerated Vehicle Market for Refrigerated truck, By Country, 2020 & 2028
FIG NO. 11. Global Refrigerated Vehicle Market for Refrigerated transport by air, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Refrigerated Vehicle Market for Refrigerated transport by air, By Country, 2020 & 2028
FIG NO. 13. Global Refrigerated Vehicle Market for Multimodal temperature container, Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Refrigerated Vehicle Market for Multimodal temperature container, By Country, 2020 & 2028
FIG NO. 15. Global Refrigerated Vehicle Market for Atmosphere controlled container, Revenue (USD Billion) 2016 – 2028
FIG NO. 16. Comparative Revenue Analysis of Refrigerated Vehicle Market for Atmosphere controlled container, By Country, 2020 & 2028
FIG NO. 17. Market Revenue Share, By Product, 2020 & 2028
FIG NO. 18. Global Refrigerated Vehicle Market for Frozen, Revenue (USD Billion) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of Refrigerated Vehicle Market for Frozen, By Country, 2020 & 2028 
FIG NO. 20. Global Refrigerated Vehicle Market for Chilled, Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Refrigerated Vehicle Market for Chilled, By Country, 2020 & 2028
FIG NO. 22. Global Refrigerated Vehicle Market Revenue Share, By Region, 2020 & 2028
FIG NO. 23. North America Refrigerated Vehicle Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 24. Porter’s Five Forces Analysis for Global Refrigerated Vehicle Market
FIG NO. 25. PEST Analysis for Global Refrigerated Vehicle Market
FIG NO. 26. Pricing Analysis for Global Refrigerated Vehicle Market
FIG NO. 27. Value Chain Analysis for Global Refrigerated Vehicle Market
FIG NO. 28. Company Share Analysis, 2019
FIG NO. 29. Radar Determinant Chart, 2019
FIG NO. 30. Company Strategic Developments – Heat Map Analysis
FIG NO. 31. Carrier Transicold Business Segment Revenue Share, 2020 (%)
FIG NO. 32. Carrier Transicold Geographical Segment Revenue Share, 2020 (%)
FIG NO. 33. Market Channels
FIG NO. 34. Marketing Channel Development Trend
FIG NO. 35. Growth in World Gross Vehicle Type, 2008-2018
FIG NO. 36. Research Methodology – Detailed View
FIG NO. 37. Research Methodology


List of Tables 

TABLE NO. 1. Global Refrigerated Vehicle Market: Snapshot
TABLE NO. 2. Quarterly Refrigerated Vehicle Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Refrigerated Vehicle Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion) 
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion) 
TABLE NO. 6. Global Refrigerated Vehicle Market for Insulated container, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Refrigerated Vehicle Market for Refrigerated truck, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Refrigerated Vehicle Market for Refrigerated transport by air, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Refrigerated Vehicle Market for Multimodal temperature container, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Refrigerated Vehicle Market for Atmosphere controlled container, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Refrigerated Vehicle Market for Frozen, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13 Global Refrigerated Vehicle Market for Chilled, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Refrigerated Vehicle Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. North America Refrigerated Vehicle Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 16. North America Refrigerated Vehicle Market Revenue, By Vehicle Type, 2016 – 2028 (USD Billion)
TABLE NO. 17. North America Refrigerated Vehicle Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 18. U.S. Refrigerated Vehicle Market Revenue, By Vehicle Type, 2016 – 2028 (USD Billion)
TABLE NO. 19. U.S. Refrigerated Vehicle Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 20. Canada Refrigerated Vehicle Market Revenue, By Vehicle Type, 2016 – 2028 (USD Billion)
TABLE NO. 21. Canada Refrigerated Vehicle Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 22. Mexico Refrigerated Vehicle Market Revenue, By Vehicle Type, 2016 – 2028 (USD Billion)
TABLE NO. 23. Mexico Refrigerated Vehicle Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 24. Drivers for the Refrigerated Vehicle Market: Impact Analysis
TABLE NO. 25. Restraints for the Refrigerated Vehicle Market: Impact Analysis
TABLE NO. 26. Major Buyers of Refrigerated Vehicle  
TABLE NO. 27. Distributors/Traders List of Refrigerated Vehicle
TABLE NO. 28. Global Refrigerated Vehicle Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 29: Global Refrigerated Vehicle Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)  
 

Methodology

Free Analysis

The refrigerated vehicle is a temperature sensitive vehicle equipped with a mechanical refrigeration system which is powered by a diesel engine or utilizes carbon dioxide as a cooling agent. Various dairy products, fresh fruits and vegetables, pharmaceutical and healthcare drugs, vaccines, human blood, microbial cultures etc. are required to be maintained at a specific temperature. It is necessary to maintain bio-pharma products at an instructed temperature to maintain their efficiency and yield till it reaches the end user. Refrigerated vehicles help to maintain the safety and quality of food products during transportation.  The vehicle can maintain the temperature ranging from -300c to 40oc, hence it can carry frozen as well as chilled products. 

Increasing global warming has been a matter of great concern for food producers globally as it affects the shelf life of food products in non-refrigerated condition. Moreover increasing awareness of people regarding the benefits of fresh food products is expected to drive the demand for refrigerated vehicles. In addition, various pharmaceutical and healthcare products need protection from heat and sunlight to maintain their chemical and biological formulation and prevent from degeneration, which is expected to fuel the market growth. Furthermore increasing disposable income on food and healthcare products and rising population is anticipated to drive the global refrigerated vehicle market in near future. However global economic slowdown and increasing oil prices could be restraining factors for the market.

Global Refrigerated Vehicle Market

Based on the product type, refrigerated vehicle market is segmented into frozen and chilled. The frozen product segment is fastest growing segment during the forecast period 2017-2022 due to ready to thaw frozen food products. Frozen bakery products market is considered to be one of the fastest growing segments in frozen food category as it is convenient to eat and saves time & efforts which is positively affecting the refrigerated vehicle market. In addition, demand for fresh fruit & vegetable segment is also anticipated to drive the growth for refrigerated vehicle market. Most of the fruits and vegetables are seasonal, their cultivation and harvest period is longer whereas demand is perennial hence to ensure the continuity of supply it requires cold storage which is the key factor to boost up the demand for refrigerated vehicles.

Based on vehicle type, refrigerated vehicle market is segmented into insulated containers, refrigerated trucks, refrigerated transport by air, atmosphere-controlled container, multimodal temperature container and other. Other segment includes a refrigerated container, refrigerated vans, intermodal refrigerated container, refrigerated ships, refrigerated railcars, and refrigerated trailers. Out of these refrigerated containers is anticipated to be the fastest growing segment in the global refrigerated market.

By region, North America accounted for the largest chunk of the market share in terms of revenue. The refrigerated vehicle market in North America is expected increase further due to increasing investment in bio-pharma and R&D sector. In addition, changes in lifestyle and increase in demand for frozen and chilled food is attributed to rapid growth in the refrigerated vehicle market.  Europe is also a major market for refrigerated vehicles. Driving factors for the growth is increasing the disposable income of population and efficient public-private partnership which provides significant logistic support for transportation service across Europe. Asia Pacific region is projected to show a boom in the refrigerated vehicle market. Driving factors being increasing population, industrialization, changing lifestyle, increasing awareness regarding health benefits of frozen foods as it is perceived to have high nutrition value and possesses high percent of essential vitamins and minerals, changing the dietary pattern of consumers, increasing a number of pharma and biotech startups in developing countries like India, China. The Middle East is expected to show substantial growth in refrigerated vehicle market due to increasing middle-class population, globalization in food trades, growing food retail sector. 

The global refrigerated vehicle market is consolidated. The major key players operating in global refrigerated vehicle market includes Carrier Transicold, CMA CGM, GAH Refrigeration, Maersk Line, MSC, Swift Transportation. Other prominent vendors in the market are Continental Air Cargo, Air Canada Cargo, Bay & Bay, Cold Chain Technologies, Culina Group, Agility, FedEx, DB Schenker, Frost Trucking, Biocair, FST Logistics, NYK Line, UPS and Avinex Ukr, Biotec Services.

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FrequentlyAsked Questions

The global Refrigerated Vehicle Market was valued at USD 12.6 Billion in 2020.

The global Refrigerated Vehicle Market is expected to reach USD 19.7 Billion by 2028, growing at a CAGR of 5.4%between 2021 to 2028.

Some of the key factors driving the global Refrigerated Vehicle Market growth are increasing demand for frozen food and ready to eat foods.

Europe was the largest market for refrigerated vehicles. This growth is mainly due to the busy lifestyle of people, changing food habits and increasing awareness regarding benefits of nutrition value of frozen foods.

Some of the major players of global Refrigerated Vehicle market Carrier Transicold, CMA CGM, GAH Refrigeration, Maersk Line, MSC, Swift Transportation. Other prominent vendors in the market are Continental Air Cargo, Air Canada Cargo, Bay & Bay, Cold Chain Technologies, Culina Group, Agility, FedEx, DB Schenker, Frost Trucking, Biocair, FST Logistics, NYK Line, UPS, Avinex Ukr, Biotec Services among others.

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