Fact.MR has adopted multi-disciplinary approach to shed light on the evolution of the global truck refrigeration unit market during the historical period of 2013 – 2017. The study presents a deep-dive assessment of the current growth dynamics, major avenues in the estimation year of 2019, and key prospects over the forecast period 2019 – 2029.
According to a recent Fact.MR study, ~97,969 truck refrigeration units were sold in the 2018, and sales are highly likely to expand 1.5X during 2019 to 2029. The use of truck refrigeration units for the transportation of fruits and vegetables is envisaged to account for a substantial market share in 2019, and will be accountable for ~40% of the overall sales through 2029.
The Fact.MR study opines that the demand for highly perishable foods has been expanding at an unprecedented pace, which in turn continues to hard press the food and beverage companies to strengthen their product cold supply logistics/chain. This has led to an increased demand for proper transportation refrigeration infrastructure, while creating a window of opportunities for the market players.
In light of the dire need for the proper and safe transportation of highly temperature-sensitive products, such as fruits and vegetables, meat and sea food, and dairy products among others, chillers have been witnessing a significant demand over freezers. Growing agriculture sector, specifically in countries like India is further underpinning the adoption of chillers, which the Fact.MR study estimates that is likely to exhibit the incremental opportunity of ~510 Mn between 2019 and 2029. The demand for chillers has been primarily driven by the rapidly growing global meat production, which is anticipated to be 16% higher in next five years. As per the study, higher meat and sea food production will create an increased demand for refrigeration transportation, which in turn is projected to create innumerable opportunities for the market players in the forthcoming years.
After reading the truck refrigeration unit market report, readers get insight into:
- Major drivers and restraining factors, opportunities and challenges, and the competitive landscape
- New, promising avenues in key regions
- New revenue streams for all players in emerging markets
- Focus and changing role of various regulatory agencies in bolstering new opportunities in various regions
- Demand and uptake patterns in key industries of the truck refrigeration unit market
- New research and development projects in new technologies in key regional markets
- Changing revenue share and size of key product segments during the forecast period
- Technologies and business models with disruptive potential
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The truck refrigeration unit market report offers assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period. Key regions covered comprise:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico)
- Europe (U.K., Germany)
- APEJ (China, India)
The evaluation of the competitive landscape in the truck refrigeration unit market covers the profile of the following top players:
- Advanced Temperature Control
- Zhengzhou Guchen Industry Co., Ltd.
- Daikin Industries, Ltd.
- Volta Air Technology Inc.
- Mitsubishi Heavy Industries Ltd.
- Denso Corporation
- Thermo King Corporation (Ingersoll Rand)
- Carrier Corporation
To expand the understanding of opportunities in the global truck refrigeration unit market report looks at close quarters into the opportunities and new avenues in following key segments:
- Light Duty Trucks
- Medium Duty Trucks
- Heavy Duty Trucks
In addition to understanding the demand patterns of various end users, the report on the truck refrigeration unit market also enumerates trends expected to attract investments by other various associated industries.
On the basis of end use, the truck refrigeration unit market report offers insight into major adoption trends for the following segments:
- Fruits and Vegetables
- Meat and Sea Food
The global truck refrigeration unit market report offers detailed assessments and quantitative evaluations that shed light on numerous key aspects that have shaped its evolution over the historical period. In coming years, some of the key aspects that will shape the growth prospects during the forecast period are objectively covered in the study.
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Some important questions that the truck refrigeration unit market report tries to answer exhaustively are:
- Key strategic moves by various players in the truck refrigeration unit market in recent years with respect to product launches, deals and tie-ups, and mergers and acquisitions, and divestment of shares.
- Which strategies will enable top players in the truck refrigeration unit market to expand their geographic footprints?
- Which new business models are expected to change the course of growth of key regional markets in near future?
- Which technologies will witness most attractive research investments and what will be the key sources of funding for startups and new entrants?
- Which products segments have in recent years have seen new, lucrative application areas?