Global Truck Refrigeration Unit Market: Technological Innovations Creating Opportunities for Truck Refrigeration Unit

Global Truck Refrigeration Unit Market

Truck refrigeration unit are automobile which are equipped with refrigeration equipment helping them carry the load/products which require optimal temperature management. These vehicles are generally trucks/buses which are designed to sustain the temperature over a long period of time, while utilizing liquid and solid carbon dioxide to regulate the temperature inside the unit. These refrigerator units are specially designed for maintaining the required temperature as per the contents of the container unit providing optimal temperature so that they can survive over long transportation timeline.

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The main factors behind the growth of the market are:

  • It is a good way to prevent the food from getting damaged: With the availability of these units, the trading activities and transportation services between different regions have increased significantly. This is due to the fact that with the adoption of these units for logistics services, the contents can be kept in an optimal state for a longer period of time. These units provide refrigeration on the backs of trucks in the form of freight containers. They restrict the circulation of warm air/heat that is associated on roads from entering the container. These units generally utilize carbon dioxide in either its liquid or solid form for regulating the temperature effectively
  • They have stainless steel components: These units are also highly effective due to their utilization of high-quality components such as stainless steel equipments and cooling units so that the risks for corrosion are significantly reduced. These components provide great resistance against external environmental factors while limiting the energy consumption due to their effectiveness in performance of refrigeration. The adoptability of stainless steel also means that the longevity of these units is maintained

The market is segmented on the basis of type as small truck refrigeration unit, medium truck refrigeration unit, large truck refrigeration unit; industry as frozen food, pharma & chemical, ambulance & passenger transport; bus length as <8m, 8-12m, >12m; trailer size as 20ft, 40ft; end-user as food, pharmaceutical, chemical industry, plants/flowers.

Some of the recent market developments are as follows:

  • In April 2018, Englander Transportation announced that they had acquired “Transportation Technologies, Inc.”, “Triple C Transportation Services, Inc.” and “C&H Logistics, Inc.”. This acquisition will help in extending the fleet and drivers working under Englander Transportation enabling them to better serve their consumers while not requiring any-special requirements as all three companies are equipped with refrigerated transportation
  • In February 2016, Carrier Corporation through their business division, Carrier Transicold Netherlands announced that they had acquired TRS Transportkoeling b.v., based in Netherlands and providing transport refrigeration systems for trailers, trucks and containers. This acquisition is set to improve the capabilities of Carrier Transicold Netherlands as they look to improve the technological offerings available to them, while also expanding their product offerings

“According to Data Bridge Market Research, global truck refrigeration unit market is growing at a substantial CAGR of 5.43% during the forecast period of 2019 to 2026”

Some of the major players operating in the market are Daikin Airconditioning India Pvt Ltd., Carrier Corporation, Thermo King Corporation, Denso Corporation, Webasto, Mobile Climate Control Group Holding AB, Subros Limited, Saden, Klinge Corporation, Utility Trailer Manufacturing Company, LAMBERT, Mitsubishi Heavy Industries, Ltd., Zannotti and FRIGOBLOCK Grosskopf GmbH.

The market is growing at a substantial rate due to the innovations in technology for refrigerated systems and their associated equipment. The major focus of the manufacturers of automobile and refrigeration units are to combine electrification of vehicles with the electrification of the refrigeration units. The major advantage associated with the electrification of these units is they can help reduce the cost of operations, essentially reducing the cost of ownership for their consumers. Also, they emit a significantly lower emission as compared to traditional/conventional vehicles so they can be used in areas where the restrictions on emissions from these vehicles are stringent inducing a greater consumption rate.