The market for truck refrigeration systems, specifically refrigerated or reefer trucks, is essential for transporting perishable goods. These systems maintain suitable temperatures for frozen foods, vegetables, fruits, ice cream, and wine, ensuring freshness until the point of sale. With alternatives available for different temperature ranges in Less-Than-Truckload (LTL) shipping, reefer trucks are crucial for long-distance transportation of temperature-sensitive goods like frozen meats and fresh produce.
According to Data Bridge Market Research the Truck Refrigeration Unit Market accounted for USD 19,300.19 million by 2030, at a CAGR of 5.4%, during the forecast period of 2023 to 2030.
“Increasing transportation of perishable goods such as food items and pharmaceuticals”
The demand for frozen food products and the need for refrigerated transportation have driven the growth of the market. The implementation of safe food handling practices and procedures throughout the supply chain ensures the delivery of safe and wholesome food products to consumers. With increasing consumer awareness about food safety, the frozen food market continues to expand, providing convenient and high-quality options for consumers worldwide. As a result, the market for frozen food products and refrigerated transportation is expected to witness sustained growth in the coming years.
What restraints the growth of truck refrigeration unit market?
“High cost related with the energy-efficient AC system”
The cost of air-conditioning systems in food transportation vehicles encompasses expenses related to raw materials and the transportation of finished products. Manufacturing companies operating in competitive industries strive to reduce costs, enabling them to provide lower prices to customers. Raw material supply and demand significantly impact a company's production process and overall costs. Effective management of raw material procurement and utilization is crucial for cost optimization and maintaining competitiveness in the market.
Segmentation: Truck Refrigeration Unit Market
The truck refrigeration unit market is segmented on the basis of type, length, application, power source, power capacity, and vehicle type.
- On the basis of type, the truck refrigeration unit market is segmented into split system and roof mount systems.
- On the basis of length, the truck refrigeration unit market is segmented into < 8-meter, 8-12-meter, and >12-meter.
- On the basis of application, the truck refrigeration unit market is segmented into chilled and frozen.
- On the basis of power source, the truck refrigeration unit market is segmented into engine powered and independent.
- On the basis of power capacity, the truck refrigeration unit market is segmented into below 5 kw, 5 kw - 19 kw, and above 19 kw.
- On the basis of vehicle type, the truck refrigeration unit market is segmented into light commercial vehicles (lcv), medium and heavy commercial vehicles, trailer (container), bus, and others
Regional Insights: Asia-pacific dominates the Truck Refrigeration Unit Market
The dominance of Asia-Pacific in the global truck refrigeration unit market is attributed to the region's growing number of supply chain businesses. This market advantage stems from the increased demand for refrigerated transportation and cold chain logistics services in the region, driving the growth of truck refrigeration unit installations.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-truck-refrigeration-unit-market
Recent Developments in Truck Refrigeration Unit Market
- In September 2019, MITSUBISHI HEAVY INDUSTRIES THERMAL SYSTEMS, LTD was contracted to supply advanced traction equipment to Construcciones y Auxiliar de Ferrocarriles, S.A. (CAF) for 88 trains in the Dutch rail network. This successful partnership helped MITSUBISHI HEAVY INDUSTRIES THERMAL SYSTEMS, LTD enhance its brand value and expand its customer base in the market.
The Prominent Key Players Operating in the Truck Refrigeration Unit Market Include:
- MITSUBISHI HEAVY INDUSTRIES THERMAL SYSTEMS, LTD (Japan)
- DAIKIN INDUSTRIES, Ltd (Japan)
- Carrier (United States)
- DENSO CORPORATION (Japan)
- Grayson – (U.S.)
- SANDEN CORPORATION (Japan)
- Mobile Climate Control (Sweden)
- Advanced Temperature Control (U.S.)
- ZHENGZHOU GUCHEN INDUSTRY CO., LTD (China)
- TRANE TECHNOLOGIES PLC (Ireland)
- Subros Limited (India)
- Klinge Corporation (U.S.)
- Utility Trailer Manufacturing Company (U.S.)
- Webasto SE (Germany)
- KRONE (Germany)
- SONGZ AUTOMOBILE AIR CONDITIONING CO LTD (China)
- Kidron (U.S.)
- Schmitz Cargobull (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of truck refrigeration unit market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Truck Refrigeration Unit Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
