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PUBLISHER: DataM Intelligence | PRODUCT CODE: 916659

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PUBLISHER: DataM Intelligence | PRODUCT CODE: 916659

Global Refrigerated Road Transportation Market - 2021-2028

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Market Overview

The Global Refrigerated Road Transportation Market is expected to grow at a CAGR of over 6% during the forecast period (2021-2028).

Refrigerated road transportation or refrigerator truck is a van or truck designed to carry perishable freight at specific temperatures. Like refrigerator cars, refrigerated trucks differ from simple insulated and ventilated vans, neither of which are fitted with cooling apparatus. Refrigerator trucks can be ice-cooled, equipped with any one of a variety of mechanical refrigeration systems powered by small displacement diesel engines, or utilize carbon dioxide (either as dry ice or in liquid form) as a cooling agent.

Market Dynamics

The global Refrigerated Road Transportation Market is primarily driven by rise in the demand for the perishable packed food in the market globally. The growing population coupled with the rising disposable income is positively impacting the sales and demand of the packed food which are often perishable. And the demand for these perishable packed food in the supermarket is enabling refrigerator truck to deliver them fast in the cities to cater the demand. And the rising shipment of the fresh food is also driving the market.

Increased usage of online shopping due to many efficient and easy to use online shopping platforms has also played a major part in driving the growth of the global refrigerated road transportation market. The prevalence of door-to-door delivery through transportation is rising which is having a positive impact on the growth of the market.

However, increasing fuel prices and the environmental impact of road transportation will be hampering the growth of the Refrigerated Road Transportation market for the forecast period.

COVD-19 Impact Analysis

The COVID-19 pandemic has disrupted the global economy and halted the key processes of almost all companies. Therefore, even the global refrigerated road transportation market suffered due to it. The disturbances in supply chain management and transportation of goods and services had a negative impact on the growth of the market. Many manufacturing and production units were disrupted due to the government enforced lockdowns and curfews across the world which led to losses and wastage of many products. The automobile industry, of which refrigerated road transportation is a part, also faced losses during the pandemic. Halted production of raw materials affected the production of refrigerated trailers and refrigerated vans. The pandemic also significantly changed the consumer demand and behaviour. Consumers refrained from purchasing non-essential products amid the pandemic thereby impacting the sales of refrigerated products. The uncertain and unexpected situation caused by the pandemic significantly impacted the market hence, slowing its growth. However, the post-pandemic scene has improved and the global refrigerated road transportation market has recovered. The market is set to grow at a high rate.

Market Segmentation

By Vehicle Type, the global Refrigerated Road Transportation Market is segmented into Refrigerated trailers, and Refrigerated vans

Refrigerated trailers have higher dominance in the application segment of Refrigerated Road Transportation as the trailers are bigger in size and are used to transfer shipment from ship to warehouses. They are the most popular mode of transporting food and beverages as they have temperature regulation machines. For longer distances of transportation and a greater number of transfer load, the refrigerated trailers are better than refrigerated vans. However, due to rising supermarket and hypermarket in the cities, the requirement of refrigerated vans also becomes convenient to carry frozen food from warehouses to their markets because of the compact sizes. Hence refrigerated vans market will also grow at a high CAGR for the forecasted period.

By Application, the global Refrigerated Road Transportation Market is segmented into Chilled food, and Frozen food

Frozen food has the dominant position in the Refrigerated Road Transportation market of Application Type segment due to rising demand for frozen food such as bakery products, ice cream, processed meat, frozen dairy products, and fish & seafood. Frozen foods are easier to handle and are also in more demand than chilled food. Also, the rising fresh food demand and the shipment item delivery in cities will drive the market for refrigerated road transportation in the forecast period.

Regional Analysis

By geography, the global Refrigerated Road Transportation Market is segmented into North America, Asia Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA)

Asia Pacific region holds the largest market share for Refrigerated Road Transportation Market due to rising population coupled with the high demand for packed food. The rising infrastructure in the developing countries like India and China is positively impacting the road transportation. According to the Chinese government data, China's total fixed asset investment in transport infrastructure hit 2.28 trillion yuan ($327.77 billion) from January to September 2018, up 1.4 percent from a year earlier. According to a briefing by the Ministry of Transport, China's spending on high-speed highways reached 702.6 billion yuan, up 12 percent on the year, though much of the increase was offset by declines in investment in rural road infrastructure.

However, Europe region is projected grow at a highest CAGR during the forecasted period due to the latest technological advancements and the government norms which favors the cold chain industry coupled with the rise in the sales of heavy-duty trucks. For instance, in 2019, EU demand for heavy-duty trucks went up by 5.3%, despite the slowdown in July, August and September months. The EU market for new vans expanded by 4.4% to reach 1.6 million vehicles registered in total. Each of the EU's major markets did well during the first nine months of the year 2019.

Competitive Analysis

Global Refrigerated Road Transportation Market is a fragmented market with the presence of various global and regional players in the market. The major players include Carrier Transicold, GAH Refrigeration, Culina, Swift Transportation, and Bay and Bay Transportation. Other key players in the market include DB Schenker, CRST International, Frost Trucking, Great Dane, and Hanson Logistics.

The companies enter into collaborations, mergers, strategic partnerships, and acquisitions to increase refrigerated road transportation's demand and expansion across the globe. Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. For instance, in March 2020, CRST International, Inc., one of the largest privately held transportation companies in the USA, announced its acquisition of NAL Group. NAL Group specializes in warehousing services, home delivery of bulky consumer durables and courier services. This acquisition will help the company to expand its horizon and scope and increase its market penetration. In August 2019, Leslie Doggett Industries acquired the privately-held Great Dane Trailer distributor through its acquired Truck Enterprises Group.

Carrier

Overview: Carrier is an American multinational home appliances corporation.

Product Portfolio: The main products of the company are refrigerators, air conditioning, heating and ventilating systems.

Key Developments: In 2020, MCT acquired Carrier Transicold Mid-Atlantic service centers across North Carolina and South Carolina.

Why Purchase the Report?

  • Visualize the composition of the global Refrigerated Road Transportation market products and applications, highlighting the critical commercial assets and players.
  • Identify commercial opportunities in the global Refrigerated Road Transportation market by analyzing trends and co-development deals.
  • Comprehensive details on factors driving the market growth.
  • Excel data sheet with thousands of data points of global Refrigerated Road Transportation market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Target Audience:

  • Equipment Suppliers/ Buyers
  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Research Professionals
  • Emerging Companies
  • Manufacturers
  • *The global Refrigerated Road Transportation market report would provide access to an approx., 53 market data table, 42 figures, and 150 pages.
Product Code: DMFB2178

Table of Contents

1. Refrigerated Road Transportation Market Methodology and Scope

  • 1.1. Research Methodology
  • 1.2. Research Objective and Scope of the Report

2. Refrigerated Road Transportation Market - Market Definition and Overview

3. Refrigerated Road Transportation Market - Executive Summary

  • 3.1. Market Snippet by Vehicle Type
  • 3.2. Market Snippet by Application
  • 3.3. Market Snippet by Region

4. Refrigerated Road Transportation Market Dynamics

  • 4.1. Market Impacting Factors
    • 4.1.1. Drivers
      • 4.1.1.1. Rising use in electronics industry
    • 4.1.2. Restraints
      • 4.1.2.1. Increasing prices of raw materials
  • 4.2. Impact Analysis
  • 4.3. Opportunities

5. Refrigerated Road Transportation Market - Industry Analysis

  • 5.1. Porter's Five Forces Analysis
  • 5.2. Supply Chain Analysis
  • 5.3. Regulatory Analysis
  • 5.4. Pricing Analysis

6. Refrigerated Road Transportation Market - COVID-19 Analysis

  • 6.1. Analysis of COVID-19 on the Market
    • 6.1.1. Before COVID-19 Market Analysis
    • 6.1.2. Present COVID-19 Market Analysis
    • 6.1.3. After COVID-19 Market Analysis
  • 6.2. Pricing Dynamics amid COVID-19
  • 6.3. Demand-Supply Spectrum
  • 6.4. Government Initiatives Related to the Market during Pandemic
  • 6.5. Manufacturers Strategic Initiatives
  • 6.6. Conclusion

7. Refrigerated Road Transportation Market - By Vehicle Type

  • 7.1. Introduction
    • 7.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Vehicle Type
    • 7.1.2. Market Attractiveness Index, By Vehicle Type
  • 7.2. Refrigerated trailers
    • 7.2.1. Introduction
    • 7.2.2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
  • 7.3. Refrigerated vans

8. Refrigerated Road Transportation Market - By Application

  • 8.1. Introduction
    • 8.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 8.1.2. Market Attractiveness Index, By Application
  • 8.2. Chilled food
    • 8.2.1. Introduction
    • 8.2.2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
  • 8.3. Frozen food

9. Refrigerated Road Transportation Market - By Region

  • 9.1. Introduction
    • 9.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region
    • 9.1.2. Market Attractiveness Index, By Region
  • 9.2. North America
    • 9.2.1. Introduction
    • 9.2.2. Key Region-Specific Dynamics
    • 9.2.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Vehicle Type
    • 9.2.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 9.2.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 9.2.5.1. The U.S.
      • 9.2.5.2. Canada
      • 9.2.5.3. Mexico
  • 9.3. Europe
    • 9.3.1. Introduction
    • 9.3.2. Key Region-Specific Dynamics
    • 9.3.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Vehicle Type
    • 9.3.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 9.3.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 9.3.5.1. Germany
      • 9.3.5.2. The U.K.
      • 9.3.5.3. France
      • 9.3.5.4. Italy
      • 9.3.5.5. Spain
      • 9.3.5.6. Rest of Europe
  • 9.4. South America
    • 9.4.1. Introduction
    • 9.4.2. Key Region-Specific Dynamics
    • 9.4.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Vehicle Type
    • 9.4.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 9.4.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 9.4.5.1. Brazil
      • 9.4.5.2. Argentina
      • 9.4.5.3. Rest of South America
  • 9.5. Asia Pacific
    • 9.5.1. Introduction
    • 9.5.2. Key Region-Specific Dynamics
    • 9.5.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Vehicle Type
    • 9.5.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 9.5.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 9.5.5.1. China
      • 9.5.5.2. India
      • 9.5.5.3. Japan
      • 9.5.5.4. Australia
      • 9.5.5.5. Rest of Asia Pacific
  • 9.6. The Middle East and Africa
    • 9.6.1. Introduction
    • 9.6.2. Key Region-Specific Dynamics
    • 9.6.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Vehicle Type
    • 9.6.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application

10. Refrigerated Road Transportation Market - Competitive Landscape

  • 10.1. Competitive Scenario
  • 10.2. Market Positioning/Share Analysis
  • 10.3. Mergers and Acquisitions Analysis

11. Refrigerated Road Transportation Market - Company Profiles

  • 11.1. Carrier Transicold
    • 11.1.1. Company Overview
    • 11.1.2. Product Portfolio and Description
    • 11.1.3. Key Highlights
    • 11.1.4. Financial Overview
  • 11.2. GAH Refrigeration
  • 11.3. Culina
  • 11.4. Swift Transportation
  • 11.5. Bay and Bay Transportation
  • 11.6. DB Schenker
  • 11.7. CRST International
  • 11.8. Frost Trucking
  • 11.9. Great Dane
  • 11.10. Hanson Logistics
  • LIST NOT EXHAUSTIVE

12. Refrigerated Road Transportation Market - Premium Insights

13. Refrigerated Road Transportation Market - DataM

  • 13.1. Appendix
  • 13.2. About Us and Services
  • 13.3. Contact Us
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