The Refrigerated Goods Trucking by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Refrigerated Goods Trucking, The refrigerated goods trucking market size has grown rapidly in recent years. It will grow from $69.94 billion in 2023 to $77.02 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to increasing demand for perishable foods, strong economic growth in emerging markets, low oil prices and taxation.
The refrigerated goods trucking market size is expected to see strong growth in the next few years. It will grow to $110.36 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to growth in the forecast period resulted from increase in food export, technological advances, growth in organic foods, rapid urbanization and increasing demand from healthcare industry. Major trends in the forecast period include adopting connected trucking, investments in technological innovations, advanced robots for picking, loading, unloading, and packing of shipments, collision mitigation systems for safer travel, demand pricing strategy to make better use of assets and handle capacities, big data and artificial intelligence.
Increasing demand for perishable foods such as ready-to-eat food items, milk and dairy products, and fruits and vegetables is predicted to contribute to the growth of the refrigerated goods trucking market. The surging demand for frozen food items is propelling suppliers to equip their refrigerated units with multi-temperature systems, computer controls, and thermal liners to keep the food at the required temperature. According to the National Dairy Development Board (NDDB), the demand for milk in the Indian market is expected to reach 180 million tonnes by 2022. Therefore, increasing demand for refrigerated food products is expected to drive the growth of the refrigerated goods trucking market during the forecast period.
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The refrigerated goods trucking market covered in this report is segmented –
1) By Vehicle Type: Light Commercial Vehicle, Medium Heavy Commercial Vehicles, Heavy Commercial Vehicles
2) By Temperature: Single Temperature, Multi-Temperature
3) By Application: Food Products, Poultry, Meat, and Seafood, Dairy and Beverages, Bakery And Confectionery, Pharmaceutical, Other Applications
Major companies operating in this market are continuously investing in introducing new technologies such as cloud computing, IoT solutions, that enables real-time tracking for greater accountability, visibility, and performance in refrigerated storage and transport. Real-time tracking refers to the ability to monitor the location and movement of people, vehicles, or assets in real-time using GPS or other tracking technologies. For instance, in August 2021, Geotab Inc., a Canada-based telematics company, launched a Cold Chain solution for transport, specifically designed to optimize last mile delivery. This solution aids fleet managers in controlling temperature conditions during transportation, providing crucial support for maintaining the cold chain in various industries. These industries include food and beverage, healthcare, and pharmaceuticals.
The refrigerated goods trucking market report table of contents includes:
- Executive Summary
- Refrigerated Goods Trucking Market Characteristics
- Refrigerated Goods Trucking Market Trends And Strategies
- Refrigerated Goods Trucking Market - Macro Economic Scenario
- Global Refrigerated Goods Trucking Market Size and Growth
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- Global Refrigerated Goods Trucking Market Competitive Benchmarking
- Global Refrigerated Goods Trucking Market Competitive Dashboard
- Key Mergers And Acquisitions In Refrigerated Goods Trucking Market
- Refrigerated Goods Trucking Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Prime Inc.
- Stevens Transport
- Knight-Swift Transportation Holdings Inc.
- R. England
- Marten Transport Ltd.
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Refrigerated Goods Trucking Global Market Report 2021 by The Business Research Company is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact – both negative and positive – of COVID-19 on the refrigerated goods trucking industry gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
This includes revised market numbers according to the effects of the coronavirus and the expected refrigerated goods trucking market growth numbers 2021-2030.View Complete Report:https://www.thebusinessresearchcompany.com/report/refrigerated-goods-trucking-global-market-reportThe Refrigerated Goods Trucking Global Market Report 2020-30 by The Business Research Company provides an in-depth analysis of the global refrigerated goods trucking market and covers both the historic period, 2015 to 2020, and the forecast period, 2020 to 2030.
The report evaluates the market and major economies across the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.The Refrigerated Goods Trucking Global Market Report 2021 covers refrigerated goods trucking market drivers, refrigerated goods trucking market trends, refrigerated goods trucking market growth rate, refrigerated goods trucking market major players, player-adopted strategies in the market, and refrigerated goods trucking market size.The global refrigerated goods market is expected to grow from $47.54 billion in 2020 to $50.02 billion in 2021 at a compound annual growth rate (CAGR) of 5.2%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
The market is expected to reach $59.27 billion in 2025 at a CAGR of 4.3%.
