Press Release

Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.

Global Truck Refrigeration Unit Market to Reach USD 16.63 billion by 2027, Aided by Growing Demand for Frozen Food and Fresh Vegetables

According to a new report by EMR titled, ‘Global Truck Refrigeration Unit Market Report and Forecast 2022-2027’, the global truck refrigeration unit market reached USD 12.24 billion in 2021. The market is expected to grow at a CAGR of 5.20% in the forecast period of 2022-2027 to reach a value of USD 16.63 billion by 2027.

While international trade continues to expand at an unprecedented pace, perishable foods, drugs, and chemicals are increasingly being traded and transported worldwide, which is driving the growth of the truck refrigeration unit market. Increased demand for frozen food and fresh vegetables, growing customer preference for frozen food items due to a lack of time in their lifestyle, and the rise of supermarkets and quick-service restaurants are the factors driving the truck refrigeration unit industry. In the coming years, increased demand for truck refrigeration units will be driven by increased demand for online food delivery services from restaurants and supermarkets. During the forecast period, the truck refrigeration unit market is expected to have significant demand, with increasing demand from major end-use sectors such as food, pharmaceuticals, chemical, and others. Growing urban population needs for processed food, growth in the pharmaceutical industry, and the subsequent increase in the need for transportation of products between different cities has significantly increased the demand for truck refrigeration units and is expected to drive the demand in the coming years as well.

New, improved, and cost-competitive product development is expected to remain the critical area of focus for the truck refrigeration units market leaders who are vying to gain an extra edge in the market. For instance, in March 2019, a leading player in the truck refrigeration unit market- Carrier Transicold (NYSE: CARR) introduced a new truck refrigeration unit named Supra S6, specifically designed for small- to medium-sized trucks. Supra S6’s high-performance smart diesel engine complies with the Environmental Protection Agency Tier 4 emissions standard and offers three speeds instead of two to enhance fuel savings.

Market Analysis by Type, Application, Industry Verticals, Bus Length, Vehicle Type, and Regions:

  • Based on type, the market is categorised into roof mount system and split system.
  • The significant applications of the product include frozen and chilled.
  • The industry verticals in the market include frozen food, pharma drugs and chemical, ambulance and passenger transport.
  • Based on bus length, the market is divided into less than 8 metres, 8 to 12 metres, and more than 12 metres.
  • The different vehicle types in the market are light commercial vehicle (LCV), medium and heavy commercial vehicle (MHCV), and trailer (container). Trailers are further divided into 20 feet trailer and 40 feet trailer, among others.
  • The regional markets for truck refrigeration unit include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Governments in several nations are enacting stringent rules which are expected to augment the growth of the market.
  • The truck refrigeration unit market will be supported by the rapid recovery of developing countries, which will result in higher disposable income, thereby leading to increased demand in frozen foods.
  • Rapid technological advancements in cold chain storage and transport, continue to make cold chain logistics less expensive and much more accessible.
  • The growing traction for refrigerated transportation has created considerable demand and adoption of truck refrigeration units.
  • The increasing investments in developing smart cities are also driving the truck refrigeration unit market.

Key Offerings of the report:

  • The EMR report gives an overview of the global truck refrigeration unit market for the periods (2017-2021) and (2022-2027). 
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for type, application, industry verticals, bus length, vehicle type, and major regions of truck refrigeration unit.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global truck refrigeration unit industry are Daikin Industries, Ltd., DENSO Corporation, Thermo King Corporation, VBG Group AB, Carrier Global Corporation, and Mitsubishi Heavy Industries Thermal Systems, Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

Similar Reports





NEWSLETTER