Europe Refrigerated Truck Rental Market Size, Share & Trends Analysis Report By Truck Type (Light, Medium, Heavy), By Rental Type (Short-term, Long-term), By Country, And Segment Forecasts, 2020 - 2027
The Europe refrigerated truck rental market size is expected to reach USD 35.4 billion by 2027, according to a study conducted by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.3% during the forecast period. Rising demand for frozen foods and rapidly growing e-commerce, retail, and logistics sectors across the region is projected to drive the market growth. Moreover, reefer truck manufacturers are gradually integrating refrigerated containers with multi-temperature systems to improve the operational efficiency of the delivery process and provide high-quality products. This, in turn, would result in the simultaneous transportation of various food and beverage and pharmaceutical products, thus, positively influencing the market growth.
On the other hand, advances in technology are allowing service providers to penetrate the emerging markets in the region and offer innovative solutions capable of addressing the complexities involved in refrigerated transportation. The strengthening hygiene standards and the increasing demand for processed food across Europe are also expected to drive the growth of the refrigerated truck rental market over the forecast period. Besides, the growing need to transport temperature-sensitive pharmaceutical products and biological samples in line with the growing per capita healthcare expenditure is also expected to boost the growth.
The truck rental industry is witnessing aggressive adoption of telematics, GPS systems, and navigation systems to ensure that the trucks are operating on the designed routes and maintaining the delivery schedules. Some rental service providers have started equipping their refrigerated trucks with temperature monitoring systems, which help them to monitor temperature levels every minute and alert the drivers and fleet operators in case of any equipment failure. These systems have resulted in a decline in the percentage of refrigeration equipment failures and have also improved the response time by nearly 70%. Hence, the integration of such technologies would assist the fleet operators to timely detect the equipment failure and respond effectively to the situation either by fixing the failure immediately or transferring the goods to another truck and subsequently protecting the products from spoilage.
The U.K. refrigerated truck rental market is anticipated to register a considerable CAGR over the forecast period owing to the rising demand for organic fruit pulps and baby food. For instance, in 2018, sales of organic food products grew by 5.3% to reach USD 2.53 billion. Therefore, cold chain logistics would be a vital solution to store some of the temperature-sensitive organic food products, thus keeping its essential nutrients safe for more extended periods. The fruit pulp & concentrates, and the frozen food industry would play a decisive role in shaping the demand for the refrigerated truck rental market. For instance, pizza and ice cream are the most popular frozen food items sold across the country. Further, the development of food retail chains in the country is projected to drive the demand for cold chain logistics industry by 2027, which is anticipated to bode well for the truck rental market in the country.
Further key findings from the study suggest:
On the other hand, advances in technology are allowing service providers to penetrate the emerging markets in the region and offer innovative solutions capable of addressing the complexities involved in refrigerated transportation. The strengthening hygiene standards and the increasing demand for processed food across Europe are also expected to drive the growth of the refrigerated truck rental market over the forecast period. Besides, the growing need to transport temperature-sensitive pharmaceutical products and biological samples in line with the growing per capita healthcare expenditure is also expected to boost the growth.
The truck rental industry is witnessing aggressive adoption of telematics, GPS systems, and navigation systems to ensure that the trucks are operating on the designed routes and maintaining the delivery schedules. Some rental service providers have started equipping their refrigerated trucks with temperature monitoring systems, which help them to monitor temperature levels every minute and alert the drivers and fleet operators in case of any equipment failure. These systems have resulted in a decline in the percentage of refrigeration equipment failures and have also improved the response time by nearly 70%. Hence, the integration of such technologies would assist the fleet operators to timely detect the equipment failure and respond effectively to the situation either by fixing the failure immediately or transferring the goods to another truck and subsequently protecting the products from spoilage.
The U.K. refrigerated truck rental market is anticipated to register a considerable CAGR over the forecast period owing to the rising demand for organic fruit pulps and baby food. For instance, in 2018, sales of organic food products grew by 5.3% to reach USD 2.53 billion. Therefore, cold chain logistics would be a vital solution to store some of the temperature-sensitive organic food products, thus keeping its essential nutrients safe for more extended periods. The fruit pulp & concentrates, and the frozen food industry would play a decisive role in shaping the demand for the refrigerated truck rental market. For instance, pizza and ice cream are the most popular frozen food items sold across the country. Further, the development of food retail chains in the country is projected to drive the demand for cold chain logistics industry by 2027, which is anticipated to bode well for the truck rental market in the country.
Further key findings from the study suggest:
- The light truck segment is expected to dominate the market and is expected to reach around USD 14.7 billion by 2027. Light trucks are suitable for intra-city transportation of frozen foods and perishable products. They are effective in city driving conditions and their demand is estimated to rise with the growth in e-commerce and FMCG sectors
- Short-term rental segment dominated the market in 2019 and is projected to expand at the highest CAGR of 9.4% from 2020 to 2027. It aids the European businesses meeting the requirements of seasonal demand by offering suitable refrigerated trucks for the job at a short notice, without any commitments or penalties
- Germany is projected to account for the majority share of the market over the forecast period and is anticipated to exceed USD 9.9 billion by 2027. The consumers are gradually looking for simple and nutritious solutions for their daily diet, therefore the demand for sustainable and healthy food continues to upsurge in the country, which is further augmenting the demand
- Some of the key players in the Europe refrigerated truck rental market are Fraikin Limited; Penske Corporation, Inc.; Petit Forestier; The Hertz Corporation; and Ryder System, Inc.
CHAPTER 1 METHODOLOGY AND SCOPE
1.1 Information Procurement
1.2 Purchased Database
1.2.1 GVR’s Internal Database
1.3 Research Methodology
1.4 Geographic Scope & Assumptions
1.5 Country Wise Market Calculation
1.5.1 Country Wise Market: Base Estimates
1.5.2 Country Market: CAGR Calculation
1.6 Country-based Segment Share Calculation
1.7 List of Primary Sources
1.8 List of Secondary Sources
1.9 List of Abbreviations
CHAPTER 2 EXECUTIVE SUMMARY
CHAPTER 3 MARKET DEFINITIONS
3.1 Market Segmentation
CHAPTER 4 INDUSTRY OUTLOOK
4.1 Market Snapshot
4.2 Europe Refrigerated Truck Rental Market Trends
4.3 Europe Refrigerated Truck Market
4.3.1 Truck Type Segment Trends
4.3.2 Rental Type Segment Trends
4.3.3 Country Segment Trends
4.4 Value Chain Analysis
4.5 Market Variable Analysis
4.5.1 Market Driver Analysis
4.5.2 Market Restraint Analysis
4.6 Opportunity Assessment - Adoption of telematics services
4.7 Europe Refrigerated Truck Rental Market: Porters Analysis
CHAPTER 5 EUROPE REFRIGERATED TRUCK RENTAL MARKET: TRUCK TYPE SEGMENT ANALYSIS
5.1 Light Truck
5.1.1 Light Refrigerated Truck Market, 2016 - 2027 (USD Million)
5.2 Medium Truck
5.2.1 Medium Refrigerated Truck Market, 2016 - 2027 (USD Million)
5.3 Heavy Truck
5.3.1 Heavy Refrigerated Truck Market, 2016 - 2027 (USD Million)
CHAPTER 6 EUROPE REFRIGERATED TRUCK RENTAL MARKET: RENTAL TYPE SEGMENT ANALYSIS
6.1 Short-term
6.1.1 Short-Term Market, 2016 - 2027 (USD Million)
6.2 Long-Term
6.2.1 Long-Term Market, 2016 - 2027 (USD Million)
CHAPTER 7 EUROPE REFRIGERATED TRUCK RENTAL MARKET: COUNTRY ANALYSIS
7.1 Europe
7.1.1 Europe Refrigerated Truck Rental Market, By Country, 2016 - 2027
7.1.2 Europe Refrigerated Truck Rental Market, By Truck Type, 2016 - 2027
7.1.3 Europe Refrigerated Truck Rental Market, By Rental Type, 2016 - 2027
7.1.4 U.K.
7.1.4.1 U.K. Refrigerated Truck Rental Market, By Truck Type, 2016 - 2027
7.1.4.2 U.K. Refrigerated Truck Rental Market, By Rental Type, 2016 - 2027
7.1.5 Germany
7.1.5.1 Germany Refrigerated Truck Rental Market, By Truck Type, 2016 - 2027
7.1.5.2 Germany Refrigerated Truck Rental Market, By Rental Type, 2016 - 2027
7.1.6 Italy
7.1.6.1 Italy Refrigerated Truck Rental Market, By Truck Type, 2016 - 2027
7.1.6.2 Italy Refrigerated Truck Rental Market, By Rental Type, 2016 - 2027
CHAPTER 8 COMPANY PROFILES
8.1 ALLROUND Autovermietung
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Product Benchmarking
8.2 Enterprise Flex-E-Rent
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Product Benchmarking
8.3 Fraikin Limited
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Product Benchmarking
8.4 Penske Corporation, Inc.
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 Product Benchmarking
8.4.4 Strategic Initiatives
8.5 Petit Forestier
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Product Benchmarking
8.6 The Hertz Corporation
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Product Benchmarking
8.7 Ryder System, Inc.
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Product Benchmarking
8.7.4 Strategic Initiatives
8.8 Auto Wichert GmbH
8.8.1 Company Overview
8.8.2 Financial Performance
8.8.3 Product Benchmarking
1.1 Information Procurement
1.2 Purchased Database
1.2.1 GVR’s Internal Database
1.3 Research Methodology
1.4 Geographic Scope & Assumptions
1.5 Country Wise Market Calculation
1.5.1 Country Wise Market: Base Estimates
1.5.2 Country Market: CAGR Calculation
1.6 Country-based Segment Share Calculation
1.7 List of Primary Sources
1.8 List of Secondary Sources
1.9 List of Abbreviations
CHAPTER 2 EXECUTIVE SUMMARY
CHAPTER 3 MARKET DEFINITIONS
3.1 Market Segmentation
CHAPTER 4 INDUSTRY OUTLOOK
4.1 Market Snapshot
4.2 Europe Refrigerated Truck Rental Market Trends
4.3 Europe Refrigerated Truck Market
4.3.1 Truck Type Segment Trends
4.3.2 Rental Type Segment Trends
4.3.3 Country Segment Trends
4.4 Value Chain Analysis
4.5 Market Variable Analysis
4.5.1 Market Driver Analysis
4.5.2 Market Restraint Analysis
4.6 Opportunity Assessment - Adoption of telematics services
4.7 Europe Refrigerated Truck Rental Market: Porters Analysis
CHAPTER 5 EUROPE REFRIGERATED TRUCK RENTAL MARKET: TRUCK TYPE SEGMENT ANALYSIS
5.1 Light Truck
5.1.1 Light Refrigerated Truck Market, 2016 - 2027 (USD Million)
5.2 Medium Truck
5.2.1 Medium Refrigerated Truck Market, 2016 - 2027 (USD Million)
5.3 Heavy Truck
5.3.1 Heavy Refrigerated Truck Market, 2016 - 2027 (USD Million)
CHAPTER 6 EUROPE REFRIGERATED TRUCK RENTAL MARKET: RENTAL TYPE SEGMENT ANALYSIS
6.1 Short-term
6.1.1 Short-Term Market, 2016 - 2027 (USD Million)
6.2 Long-Term
6.2.1 Long-Term Market, 2016 - 2027 (USD Million)
CHAPTER 7 EUROPE REFRIGERATED TRUCK RENTAL MARKET: COUNTRY ANALYSIS
7.1 Europe
7.1.1 Europe Refrigerated Truck Rental Market, By Country, 2016 - 2027
7.1.2 Europe Refrigerated Truck Rental Market, By Truck Type, 2016 - 2027
7.1.3 Europe Refrigerated Truck Rental Market, By Rental Type, 2016 - 2027
7.1.4 U.K.
7.1.4.1 U.K. Refrigerated Truck Rental Market, By Truck Type, 2016 - 2027
7.1.4.2 U.K. Refrigerated Truck Rental Market, By Rental Type, 2016 - 2027
7.1.5 Germany
7.1.5.1 Germany Refrigerated Truck Rental Market, By Truck Type, 2016 - 2027
7.1.5.2 Germany Refrigerated Truck Rental Market, By Rental Type, 2016 - 2027
7.1.6 Italy
7.1.6.1 Italy Refrigerated Truck Rental Market, By Truck Type, 2016 - 2027
7.1.6.2 Italy Refrigerated Truck Rental Market, By Rental Type, 2016 - 2027
CHAPTER 8 COMPANY PROFILES
8.1 ALLROUND Autovermietung
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Product Benchmarking
8.2 Enterprise Flex-E-Rent
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Product Benchmarking
8.3 Fraikin Limited
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Product Benchmarking
8.4 Penske Corporation, Inc.
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 Product Benchmarking
8.4.4 Strategic Initiatives
8.5 Petit Forestier
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Product Benchmarking
8.6 The Hertz Corporation
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Product Benchmarking
8.7 Ryder System, Inc.
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Product Benchmarking
8.7.4 Strategic Initiatives
8.8 Auto Wichert GmbH
8.8.1 Company Overview
8.8.2 Financial Performance
8.8.3 Product Benchmarking
LIST OF TABLES
Table 1 List of abbreviation
Table 2 Europe refrigerated truck rental market, 2016 - 2027 (USD Million)
Table 3 Light refrigerated truck market, 2016 - 2027 (USD Million)
Table 4 Medium refrigerated truck market, 2016 - 2027 (USD Million)
Table 5 Heavy refrigerated truck market, 2016 - 2027 (USD Million)
Table 6 Short-term rental market, 2016 - 2027 (USD Million)
Table 7 Long-term rental market, 2016 - 2027 (USD Million)
Table 8 Europe refrigerated truck rental market, by country, 2016 - 2027 (USD Million)
Table 9 Europe refrigerated truck rental market, by truck type, 2016 - 2027 (USD Million)
Table 10 Europe refrigerated truck rental market, by rental type, 2016 - 2027 (USD Million)
Table 11 U.K. refrigerated truck rental market, by truck type, 2016 - 2027 (USD Million)
Table 12 U.K. refrigerated truck rental market, by rental type, 2016 - 2027 (USD Million)
Table 13 Germany refrigerated truck rental market, by truck type, 2016 - 2027 (USD Million)
Table 14 Germany refrigerated truck rental market, by rental type, 2016 - 2027 (USD Million)
Table 15 Italy refrigerated truck rental market, by truck type, 2016 - 2027 (USD Million)
Table 16 Italy refrigerated truck rental market, by rental type, 2016 - 2027 (USD Million)
Table 1 List of abbreviation
Table 2 Europe refrigerated truck rental market, 2016 - 2027 (USD Million)
Table 3 Light refrigerated truck market, 2016 - 2027 (USD Million)
Table 4 Medium refrigerated truck market, 2016 - 2027 (USD Million)
Table 5 Heavy refrigerated truck market, 2016 - 2027 (USD Million)
Table 6 Short-term rental market, 2016 - 2027 (USD Million)
Table 7 Long-term rental market, 2016 - 2027 (USD Million)
Table 8 Europe refrigerated truck rental market, by country, 2016 - 2027 (USD Million)
Table 9 Europe refrigerated truck rental market, by truck type, 2016 - 2027 (USD Million)
Table 10 Europe refrigerated truck rental market, by rental type, 2016 - 2027 (USD Million)
Table 11 U.K. refrigerated truck rental market, by truck type, 2016 - 2027 (USD Million)
Table 12 U.K. refrigerated truck rental market, by rental type, 2016 - 2027 (USD Million)
Table 13 Germany refrigerated truck rental market, by truck type, 2016 - 2027 (USD Million)
Table 14 Germany refrigerated truck rental market, by rental type, 2016 - 2027 (USD Million)
Table 15 Italy refrigerated truck rental market, by truck type, 2016 - 2027 (USD Million)
Table 16 Italy refrigerated truck rental market, by rental type, 2016 - 2027 (USD Million)
LIST OF FIGURES
Fig. 1 Market research process
Fig. 2 Information procurement
Fig. 3 Europe refrigerated truck rental market segmentation
Fig. 4 Europe refrigerated truck rental market snapshot
Fig. 5 Europe refrigerated truck rental market, 2016 - 2027 (USD Million)
Fig. 6 Europe refrigerated truck rental market, by truck type, 2016 - 2027 (USD Million)
Fig. 7 Europe refrigerated truck rental market, by rental type, 2016 - 2027 (USD Million)
Fig. 8 Europe refrigerated truck rental market, by country, 2016 - 2027 (USD Million)
Fig. 9 Europe refrigerated truck rental market: Value chain analysis
Fig. 10 Europe refrigerated truck rental market: PORTER’s analysis
Fig. 11 Europe refrigerated truck rental market: Truck type analysis
Fig. 12 Europe refrigerated truck rental market: Rental type analysis
Fig. 13 Europe refrigerated truck rental market: Country analysis
Fig. 1 Market research process
Fig. 2 Information procurement
Fig. 3 Europe refrigerated truck rental market segmentation
Fig. 4 Europe refrigerated truck rental market snapshot
Fig. 5 Europe refrigerated truck rental market, 2016 - 2027 (USD Million)
Fig. 6 Europe refrigerated truck rental market, by truck type, 2016 - 2027 (USD Million)
Fig. 7 Europe refrigerated truck rental market, by rental type, 2016 - 2027 (USD Million)
Fig. 8 Europe refrigerated truck rental market, by country, 2016 - 2027 (USD Million)
Fig. 9 Europe refrigerated truck rental market: Value chain analysis
Fig. 10 Europe refrigerated truck rental market: PORTER’s analysis
Fig. 11 Europe refrigerated truck rental market: Truck type analysis
Fig. 12 Europe refrigerated truck rental market: Rental type analysis
Fig. 13 Europe refrigerated truck rental market: Country analysis
