Refrigerated trailers are used for transportation of temperature-sensitive food products such as fruits, vegetables, dairy products, meat, and seafood. They help in maintaining optimum temperature range of products during transportation and prevent spoilage. Refrigerated trailers find extensive applications across food processing, logistic, and transportation industries.
The global Refrigerated Trailer Market is estimated to be valued at US$ 4.4 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving the growth of refrigerated trailer market is increased demand for chilled and frozen food transportation. Changing lifestyle and busy schedules of consumers have increased the demand for ready-to-eat and packaged food products. This has resulted in growth of food processing industry worldwide. Also, rising popularity of online food delivery platforms is necessitating efficient transportation of temperature controlled food items to end-users. Refrigerated trailers help meet these delivery needs and expanding cold supply chain infrastructure. Their ability to maintain product freshness during long-haul transportation is augmenting their adoption across industries.
Porter's Analysis
Threat of new entrants: Low capital requirements and no technology barriers restrict entry but established brands and need for large scale infrastructure deters new players.
Bargaining power of buyers: Large fleet owners are in strong position to negotiate on price while small buyers have less influence.
Bargaining power of suppliers: Limited supplier base for specialty components increases their bargaining power.
Threat of new substitutes: Alternate temperature controlled transportation solutions pose minimal threat due to technology and infrastructure gaps.
Competitive rivalry: Intense competition among established brands on pricing and service quality.
SWOT Analysis
Strengths: Established brands, infrastructure and distribution networks give stable market share. Strong capital base enables R&D in fuel efficiency and technologies.
Weaknesses: Rising input costs, driver shortage and complex transportation regulations add operational challenges. Dependency on few components suppliers increases supply risks.
Opportunities: Growth in cold chain logistics, cross-border trade and e-commerce fulfillment offer scope for market expansion. Adoption of advanced technologies can improve utilization.
Threats: Volatility in fuel prices and economic cycles impact fleet utilization. Stringent emission norms require frequent model upgrades.
Key Takeaways
The Global Refrigerated Trailer Market Size is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing demand for temperature controlled transportation from food supply chains. North America dominates currently due to extensive cold chain infrastructure and holds around 35% market share. Europe follows owing to stringent quality standards and collaboration of transporters with pharmaceutical companies.
Regional analysis: Asia Pacific is projected to be the fastest growing region during the forecast period. Factors such as growing population, rising health awareness and changing consumption patterns are driving cold chain development. Countries like India and China are expected to offer lucrative opportunities with improving transportation networks and trade volumes.
Key players: Key players operating in the Refrigerated Trailer Market are Kogel Trailer GmbH & Co. KG, Wabash National Commercial Trailer Products, Randon Implementos, Great Dane Trailers, Inc., Gray & Adams Ltd., Utility Trailer Manufacturing Company, Hyundai Translead, Montracon Ltd., Schmitz Cargobull AG, Lamberet Refrigerated SAAS, and Fahrzeugwerk Bernard KRONE GmbH. They are focusing on capacity expansions as well as introducing sustainability focused models to gain competitive edge.
For more insights, Read-
https://www.insightprobing.com/refrigerated-trailer-market-growth-demand-and-overview/
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Every aspect of life globally has been affected by the epidemic of coronavirus (COVID-19).
Future and preliminary assessments of the rapidly changing market impact and scenario are included in the report.Leading players operating in this Report are: Kogel Trailer, Fahrzeugwerk Bernard Krone, Lamberet, Utility Trailer Manufacturing Company, Great Dane, Wabash National, Hyundai Translead, Schmitz Cargobull, Wilhelm Schwarzmueller, China International Marine Containers, and many more.
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The report further offers the marketing channel, cost structure, manufacturing process, and industry chain.
