Road Transport Refrigeration Equipment Market Size, Share, and Analysis, By Install Vehicles (Vans & Light Trucks, Heavy Trucks, and Trailers), By Mode of Operation (Single Temperature and Multi-Temperature), By Power Source (Vehicle Powered and Self-Powered), By Application (Pharmaceutical, Food & Beverage Products, and Other Healthcare Products), By Region (North America, Europe, Asia-Pacific, And Rest of the World), And Regional Forecast 2024-2034
Road Transport Refrigeration Equipment Market Size, Share, and Analysis, By Install Vehicles (Vans & Light Trucks, Heavy Trucks, and Trailers), By Mode of Operation (Single Temperature and Multi-Temperature), By Power Source (Vehicle Powered and Self-Powered), By Application (Pharmaceutical, Food & Beverage Products, and Other Healthcare Products), By Region (North America, Europe, Asia-Pacific, And Rest of the World), And Regional Forecast 2024-2034
PRODUCT OVERVIEW
Road Transport Refrigeration Equipment Market is anticipated t%li%grow at a CAGR of 5.2% in the forecast period (2024-2034), with the market size valued at USD 4.2 billion in 2023 and expected t%li%reach USD 7.3 billion by 2034.
Road transport refrigeration equipment is specialized machinery that is installed on vehicles t%li%maintain specific temperature conditions for transporting perishable goods. These systems consist of a refrigeration mechanism powered by the vehicle's engine or an independent power source, along with an insulated compartment for storing the cargo. They play an essential role in industries such as food and pharmaceuticals by ensuring the preservation and safety of products during transit. In addition, by regulating the temperature and humidity levels, road transport refrigeration equipment reduces spoilage incidents, preserves the quality of products, and extends the shelf life. It comes in various sizes and configurations t%li%include different types and volumes of cargo. Thus, the reliability and efficiency of this equipment are crucial for transporting temperature-sensitive goods, thereby facilitating the global distribution and availability of perishable products.
MARKET HIGHLIGHTS
Road transport refrigeration equipment market is anticipated t%li%reach USD 7.3 billion, growing at a CAGR of 5.2% during the forecast period, due t%li%the rising demand for temperature-controlled transportation of perishable goods like food, pharmaceuticals, and chemicals. The market for road transport refrigeration equipment is expected t%li%grow owing t%li%several factors, including the growing use of cold chain logistics, laws related t%li%food safety & pharmaceutical transportation, and the need t%li%reduce food wastage. In addition, technological innovations in refrigeration systems, such as the development of more energy-efficient and sustainable solutions, are propelling the industry forward. Moreover, the expansion of the e-commerce sector and the globalization of supply chains promote the demand for dependable and efficient road transport refrigeration equipment. Furthermore, regions with well-established cold chain infrastructure are leading the market, while emerging economies are rapidly growing due t%li%rising disposable incomes.
Road Transport Refrigeration Equipment Market Segments:
Growth Drivers
Growing Demand for Perishable Goods Will Contribute t%li%the Growth of the Market
Expansion of Cold Chain Logistics has Encouraged the Use of Road Transport Refrigeration
Restraint
High Maintenance and Initial Investment Costs are Seriously Impeding Market Expansion
Key Players
PRODUCT OVERVIEW
Road Transport Refrigeration Equipment Market is anticipated t%li%grow at a CAGR of 5.2% in the forecast period (2024-2034), with the market size valued at USD 4.2 billion in 2023 and expected t%li%reach USD 7.3 billion by 2034.
Road transport refrigeration equipment is specialized machinery that is installed on vehicles t%li%maintain specific temperature conditions for transporting perishable goods. These systems consist of a refrigeration mechanism powered by the vehicle's engine or an independent power source, along with an insulated compartment for storing the cargo. They play an essential role in industries such as food and pharmaceuticals by ensuring the preservation and safety of products during transit. In addition, by regulating the temperature and humidity levels, road transport refrigeration equipment reduces spoilage incidents, preserves the quality of products, and extends the shelf life. It comes in various sizes and configurations t%li%include different types and volumes of cargo. Thus, the reliability and efficiency of this equipment are crucial for transporting temperature-sensitive goods, thereby facilitating the global distribution and availability of perishable products.
MARKET HIGHLIGHTS
Road transport refrigeration equipment market is anticipated t%li%reach USD 7.3 billion, growing at a CAGR of 5.2% during the forecast period, due t%li%the rising demand for temperature-controlled transportation of perishable goods like food, pharmaceuticals, and chemicals. The market for road transport refrigeration equipment is expected t%li%grow owing t%li%several factors, including the growing use of cold chain logistics, laws related t%li%food safety & pharmaceutical transportation, and the need t%li%reduce food wastage. In addition, technological innovations in refrigeration systems, such as the development of more energy-efficient and sustainable solutions, are propelling the industry forward. Moreover, the expansion of the e-commerce sector and the globalization of supply chains promote the demand for dependable and efficient road transport refrigeration equipment. Furthermore, regions with well-established cold chain infrastructure are leading the market, while emerging economies are rapidly growing due t%li%rising disposable incomes.
Road Transport Refrigeration Equipment Market Segments:
- By Install Vehicles
- Vans & Light Trucks
- Heavy Trucks
- Trailers
- By Mode of Operation
- Single Temperature
- Multi-Temperature
- By Power Source
- Vehicle Powered
- Self-Powered
- By Application
- Pharmaceutical
- Food and Beverage Products
- Other Healthcare Products
Growth Drivers
Growing Demand for Perishable Goods Will Contribute t%li%the Growth of the Market
Expansion of Cold Chain Logistics has Encouraged the Use of Road Transport Refrigeration
Restraint
High Maintenance and Initial Investment Costs are Seriously Impeding Market Expansion
Key Players
- Carrier Transicold
- Therm%li%King Corporation
- Mitsubishi Heavy Industries Thermal Systems, Ltd.
- Daikin Industries, Ltd.
- Klinge Corporation
- Johnson Truck Bodies
- Utility Trailer Manufacturing Company
- Lamberet SAS
- Schmitz Cargobull AG
- GAH Refrigeration Ltd.
- Hubbard Products Ltd.
- Gray & Adams Ltd.
- Ingersoll Rand Inc.
- Wabash National Corporation
- Great Dane LLC
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight int%li%the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
- 3-month post-sales analyst support.
1.EXECUTIVE SUMMARY
1.1. Regional Market Share
1.2.Business Trends
1.3. Road Transport Refrigeration Equipment Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Road Transport Refrigeration Equipment Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview of world economy
4.3.Industry Ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porter's Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Install Vehicles
11.3.1.1. Vans & Light Trucks
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Heavy Trucks
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034
11.3.1.3.Trailers
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Mode of Operation
11.3.2.1.Single Temperature
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Multi-Temperature
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.By Power Source
11.3.3.1.Vehicle Powered
11.3.3.1.1. By Value (USD Million) 2024-2034F
11.3.3.1.2.Market Share (%) 2024-2034F
11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Self-Powered
11.3.3.2.1.By Value (USD Million) 2024-2034F
11.3.3.2.2. Market Share (%) 2024-2034F
11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.By Application
11.3.4.1.Pharmaceutical
11.3.4.1.1. By Value (USD Million) 2024-2034F
11.3.4.1.2.Market Share (%) 2024-2034F
11.3.4.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.4.2. Food and Beverage Products
11.3.4.2.1.By Value (USD Million) 2024-2034F
11.3.4.2.2. Market Share (%) 2024-2034F
11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.3. Other Healthcare Products
11.3.4.3.1.By Value (USD Million) 2024-2034F
11.3.4.3.2. Market Share (%) 2024-2034F
11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Install Vehicles
12.3.2. By Mode of Operation
12.3.3. By Power Source
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Install Vehicles
13.3.2. By Mode of Operation
13.3.3. By Power Source
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Install Vehicles
14.3.2. By Mode of Operation
14.3.3. By Power Source
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Install Vehicles
15.3.2. By Mode of Operation
15.3.3. By Power Source
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Install Vehicles
16.3.2. By Mode of Operation
16.3.3. By Power Source
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1.Carrier Transicold
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Thermo King Corporation
18.3. Mitsubishi Heavy Industries Thermal Systems, Ltd.
18.4. Daikin Industries, Ltd.
18.5. Klinge Corporation
18.6. Johnson Truck Bodies
18.7. Utility Trailer Manufacturing Company
18.8. Lamberet SAS
18.9. Schmitz Cargobull AG
18.10.GAH Refrigeration Ltd.
18.11.Hubbard Products Ltd.
18.12. Gray & Adams Ltd.
18.13. Ingersoll Rand Inc.
18.14.Wabash National Corporation
18.15. Great Dane LLC
18.16. Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
1.1. Regional Market Share
1.2.Business Trends
1.3. Road Transport Refrigeration Equipment Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Road Transport Refrigeration Equipment Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview of world economy
4.3.Industry Ecosystem Channel Analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porter's Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET
10.1.Overview
10.2. Historical Analysis (2019-2022)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET SIZE & FORECAST 2024A-2034F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Install Vehicles
11.3.1.1. Vans & Light Trucks
11.3.1.1.1.By Value (USD Million) 2024-2034F
11.3.1.1.2. Market Share (%) 2024-2034F
11.3.1.1.3. Y-o-Y Growth (%) 2024-2034F
11.3.1.2.Heavy Trucks
11.3.1.2.1. By Value (USD Million) 2024-2034F
11.3.1.2.2.Market Share (%) 2024-2034F
11.3.1.2.3.Y-o-Y Growth (%) 2024-2034
11.3.1.3.Trailers
11.3.1.3.1. By Value (USD Million) 2024-2034F
11.3.1.3.2.Market Share (%) 2024-2034F
11.3.1.3.3.Y-o-Y Growth (%) 2024-2034F
11.3.2. By Mode of Operation
11.3.2.1.Single Temperature
11.3.2.1.1. By Value (USD Million) 2024-2034F
11.3.2.1.2.Market Share (%) 2024-2034F
11.3.2.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.2.2. Multi-Temperature
11.3.2.2.1.By Value (USD Million) 2024-2034F
11.3.2.2.2. Market Share (%) 2024-2034F
11.3.2.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.3.By Power Source
11.3.3.1.Vehicle Powered
11.3.3.1.1. By Value (USD Million) 2024-2034F
11.3.3.1.2.Market Share (%) 2024-2034F
11.3.3.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.3.2. Self-Powered
11.3.3.2.1.By Value (USD Million) 2024-2034F
11.3.3.2.2. Market Share (%) 2024-2034F
11.3.3.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.By Application
11.3.4.1.Pharmaceutical
11.3.4.1.1. By Value (USD Million) 2024-2034F
11.3.4.1.2.Market Share (%) 2024-2034F
11.3.4.1.3.Y-o-Y Growth (%) 2024-2034F
11.3.4.2. Food and Beverage Products
11.3.4.2.1.By Value (USD Million) 2024-2034F
11.3.4.2.2. Market Share (%) 2024-2034F
11.3.4.2.3. Y-o-Y Growth (%) 2024-2034F
11.3.4.3. Other Healthcare Products
11.3.4.3.1.By Value (USD Million) 2024-2034F
11.3.4.3.2. Market Share (%) 2024-2034F
11.3.4.3.3. Y-o-Y Growth (%) 2024-2034F
12.NORTH AMERICA ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET SIZE & FORECAST 2024A-2034F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Install Vehicles
12.3.2. By Mode of Operation
12.3.3. By Power Source
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET SIZE & FORECAST 2024A-2034F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Install Vehicles
13.3.2. By Mode of Operation
13.3.3. By Power Source
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET SIZE & FORECAST 2024A-2034F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Install Vehicles
14.3.2. By Mode of Operation
14.3.3. By Power Source
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET SIZE & FORECAST 2024A-2034F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Install Vehicles
15.3.2. By Mode of Operation
15.3.3. By Power Source
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA ROAD TRANSPORT REFRIGERATION EQUIPMENT MARKET SIZE & FORECAST 2024A-2034F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Install Vehicles
16.3.2. By Mode of Operation
16.3.3. By Power Source
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2023
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1.Carrier Transicold
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2. Thermo King Corporation
18.3. Mitsubishi Heavy Industries Thermal Systems, Ltd.
18.4. Daikin Industries, Ltd.
18.5. Klinge Corporation
18.6. Johnson Truck Bodies
18.7. Utility Trailer Manufacturing Company
18.8. Lamberet SAS
18.9. Schmitz Cargobull AG
18.10.GAH Refrigeration Ltd.
18.11.Hubbard Products Ltd.
18.12. Gray & Adams Ltd.
18.13. Ingersoll Rand Inc.
18.14.Wabash National Corporation
18.15. Great Dane LLC
18.16. Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
