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The refrigerated trailer market size is forecast to increase by USD 1.53 billion at a CAGR of 4.83% between 2023 and 2028. The market is experiencing significant growth due to the rising consumption of frozen food, particularly in developing economies. This trend is driven by increasing urbanization and changing consumer preferences towards convenience and healthier food options. Another key trend is the adoption of electrified trailer technologies, which offer environmental benefits and cost savings through reduced fuel consumption. However, high operating costs, including fuel expenses and maintenance, remain a challenge for market growth. To mitigate these costs, trailer manufacturers and operators are exploring alternative refrigeration systems and optimizing trailer utilization through advanced telematics and route planning solutions.
The market is witnessing significant growth due to the increasing demand for transporting perishable goods, particularly food cargo. Refrigerated trucks play a crucial role in maintaining the cold chain capacity for various perishable items, including frozen food, fish, meat, vegetables, fruits, and flowers. These trailers are designed to operate in both negative and positive temperature ranges to cater to the specific requirements of different perishable goods. The market is driven by the rising trend of nuclear family setups and the increasing preference for fresh cooking, leading to a higher demand for refrigerated trailers. The health benefits associated with consuming perishable food items, such as protein-rich dairy products and poultry products, are also fueling the market growth.
Moreover, the increasing number of office goers and students who require quick and convenient food options are also contributing to the demand for refrigerated trailers. Refrigerated trailers come in various load and pallet capacities to cater to different transportation needs. Low-weight vehicles are also being used to reduce fuel consumption and minimize food wastage during transportation. Overall, the market is expected to continue its growth trajectory due to the increasing demand for transporting perishable goods in various industries.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The chilled food segment is estimated to witness significant growth during the forecast period. The market caters to the transportation of perishable goods, including food cargo, using refrigerated trucks. These trailers maintain a negative or positive temperature range to preserve the freshness of frozen food, fresh fruit, fresh vegetables, dairy products, beverages, milk, cheese, yogurt, butter, seafood, vaccines, baked goods, packaged meat, and packaged seafood. The load and pallet capacity of these trailers vary, accommodating various types of cargo such as fish, meat, vegetables, fruits, flowers, and specialty pharmaceuticals. Cold storage facilities and online grocery shopping are significant end-users, while restaurants, hotels, food service establishments, nuclear family setups, and fresh cooking also rely on refrigerated trailers for the delivery of perishable food items.
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The chilled food segment was valued at USD 3.06 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market caters to the transportation of perishable goods, including food cargo, using refrigerated trucks. These trucks maintain a negative or positive temperature range to preserve the freshness of frozen food, fresh fruit, fresh vegetables, dairy products, beverages, milk, cheese, yogurt, butter, seafood, vaccines, baked goods, packaged meat, and packaged seafood. The load and pallet capacity of refrigerated trailers vary, enabling them to transport a wide range of commodities, such as fish, meat, vegetables, fruits, flowers, and specialty pharmaceuticals. Cold storage facilities and online grocery shopping have increased the demand for refrigerated trailers in the food service industry, including restaurants, hotels, and food service establishments, as well as in nuclear family setups for fresh cooking and perishable food storage.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising consumption of frozen food is the key driver of the market. The global market is experiencing significant growth due to the increasing consumption of refrigerated foods, particularly frozen foods. The convenience offered by ready-to-eat meals and the perception of frozen food as an alternative to fresh and canned food are key factors driving this trend. Busy lifestyles and rapid urbanization are also contributing to the demand for frozen food. Refrigerated trailers, including chilled and frozen varieties, play a crucial role in maintaining the cold chain capacity of these food products, ensuring their health benefits are preserved. Additionally, the use of refrigerated trailers in transporting perishable goods such as meat and seafood reduces food wastage. Despite the benefits, fuel prices and carbon emissions remain concerns for truck drivers operating low-weight vehicles, leading to a focus on fuel efficiency in the design and operation of refrigerated trailers.
The adoption of electrified trailer technologies is the upcoming trend in the market. The market is witnessing significant advancements in technology, with a focus on increasing cold chain capacity, enhancing health benefits, and reducing food wastage. Traditional refrigerated trailers, primarily reliant on diesel engines, are being replaced with more sustainable solutions. For instance, Carrier Transicold's eCool system, the first fully autonomous, all-electric engineless trailer, uses E-Drive technology to capture and store kinetic energy at the trailer's axle, powering the refrigeration unit via a battery pack. Schmitz Cargobull AG also introduced electrified refrigerated trailers, contributing to fuel efficiency and carbon emissions reduction. These innovations cater to various sectors, including office goers and students, who require temperature-controlled transportation for perishable goods such as protein-rich foods like meat and seafood. The shift towards low-weight vehicles and fuel price volatility further accentuates the need for fuel-efficient and eco-friendly refrigerated trailers.
High operating costs of refrigerated trailers is a key challenge affecting the market growth. Refrigerated trailers play a crucial role in the transportation of temperature-sensitive goods, particularly perishable items such as meat, seafood, and dairy products. These trailers ensure the cold chain capacity necessary for maintaining the health benefits and preserving the quality of these goods. Officegoers and students, among others, rely on these trailers for their daily consumption of these items. However, the initial cost, maintenance, and repair expenses, as well as the need to comply with emission standards, pose challenges for carriers. Furthermore, improper loading temperatures can lead to food wastage and increased operating costs. For instance, if chilled goods are loaded at a temperature of 3 degC instead of the intended 0 degC, or frozen goods at -15 degC instead of the intended -18 degC, the refrigeration unit will require additional energy to bring the temperature back to the required level.
However, this not only increases fuel consumption and costs but also contributes to higher carbon emissions. To address these challenges, carriers are increasingly opting for fuel-efficient, low-weight vehicles, such as truck trailers equipped with chilled or frozen refrigerated trailers. These trailers offer improved fuel efficiency and reduced carbon emissions, making them a cost-effective solution for carriers in the long run.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Gray and Adams Ltd. - The company offers refrigerated trailers that allow customers to do both with an advanced panel foaming process that ensures consistent, void-free insulation, powerful cooling system optimization, and a-la-cart, multi-temperature compartmentalization.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing demand for transporting perishable goods, including food cargo, in the negative and positive temperature ranges. Refrigerated trucks play a crucial role in maintaining product freshness for various perishable items such as frozen food, fish, meat, vegetables, fruits, flowers, dairy products, poultry products, specialty pharmaceuticals, frozen desserts, fresh fruit, fresh vegetables, milk, cheese, yogurt, butter, seafood, vaccines, baked goods, packaged meat, and packaged seafood. These trailers are essential for maintaining the required temperature conditions for sensitive goods like dairy, beverages, and vaccines during transportation. The growth of online grocery shopping, restaurants, hotels, food service establishments, nuclear family setups, and fresh cooking trends are some of the key factors driving the demand for refrigerated trailers. Cold storage facilities also contribute to market growth by providing additional storage solutions for perishable goods.
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Market Scope |
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Report Coverage |
Details |
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Page number |
132 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.83% |
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Market Growth 2024-2028 |
USD 1.52 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.37 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 41% |
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Key countries |
US, China, Germany, UK, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Bay and Bay Transportation, Gray and Adams Ltd., Great Dane LLC, Halvor Lines Inc., Humbaur GmbH, Hyundai Motor Co., KRONE GMBH and CO. KG, LAMBERET SAS, Manac Inc., Montracon Ltd., Polarking Mobile, Premier Trailer Mfg. Inc., Randon Implementos S.A., Schmitz Cargobull AG, Stevens Transport, STI HOLDINGS Inc., Trane Technologies Plc, TW Transport, Utility Trailer Manufacturing Co., Vanguard National Trailer Corp., and Wabash National Corp. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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