Refrigerated Transport Market is valued at USD 14.25 Million in 2017 and expected to reach USD 20.07 Million by 2024 with the CAGR of 5.01% over the forecast period.
Refrigerated transport is a method for shipping sea foods, frozen foods and medicine and it requires temperature controlled vehicles. Refrigerated transportation helps in the preservation and protection of foods, drugs and medical supplies. Through refrigerated transport service perishable supplies are moved from one point to another point at controlled environment to maintain quality, freshness and prevent foodborne illness.
Global Refrigerated Transport market report is segmented on the basis of, Application, Technology, Temperature and units. On the basis of Application Global Refrigerated Transport market is segmented Chilled and Frozen. On the basis of Technology Global Refrigerated Transport market is segmented Vapor compression systems, Air-blown evaporators, Eutetic devices. On the basis of Temperature Global Refrigerated Transport, market is segmented Single temperature and Multi temperature.
The regions covered in this Refrigerated Transport market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Refrigerated Transport is sub divided in to U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
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Key Players for Global Refrigerated Transport Market Reports –
Global Refrigerated Transport market reports cover prominent players like Carrier Transicold, Inc., CMA CGM S.A., GAH Refrigeration Ltd, Maersk Line A/S, Limited, MSC Mediterranean Shipping Company S.A., and Swift Transportation Company. Aryzta Ag, China International Marine Containers (Group) Ltd., Conagra Brands, Inc., Daikin Industries, Ltd., Del Monte Pacific Ltd, General Mills, Inc., Hyundai Motor Company, Ingersoll-Rand Plc, Kellogg Company, Kerry Group Plc., Lamberet Sas, Singamas Container Holdings Limited, The Kraft Heinz Company, Utility Trailer Manufacturing Company, Tyson Foods, Inc., and Wabash National Corporation.
Globally, trading of perishable food is increasing day by day and this is one of the major driving factors responsible for the growth of this market.
Rising demand for frozen foods in restaurants is also one of the factors responsible for the growth of Refrigerated Transport Market. Moreover, rapidly developing pharmaceutical cold chain logistics is key driving factors for this market. Currently, worldwide pharmaceutical cold chain logistics is worth of USD 16.6 billion. In pharmaceutical industry, refrigerated transportation services play very important role in maintaining effectiveness and integrity of drugs. However, equipment failure, driver error, late notification strict rules & regulation and lack of remote control are some of the restraining factors of this market. Increasing demand for Frozen foods, advanced technology and increasing investments in the food industry may generate new opportunities in the forecast period.
North-America region dominated the market for global refrigerated transport market and it is growing at significant CAGR.
Recently, Food and Drug Administration’s has launched new rules for refrigerated transport, according to this rules Refrigerated vehicles should precooled before loading any kind of perishable foods. Asia-Pacific region is growing at fastest growth rate and it estimated that it will generate new opportunities in coming years. China is the largest importers and exporters of food products at a global level.