DUBLIN, September 19, 2017 /PRNewswire/ --
The "Refrigerated Transport Market by Product Type (Chilled and Frozen), Mode (Road, Sea, Rail, and Air), Vehicle Type (LCV, MHCV, and HCV), Technology (Vapor Compression Systems and Cryogenic Systems), and Region - Global forecast to 2022" report has been added to Research and Markets' offering.
The global refrigerated road transport market is projected to grow at a CAGR of 5.67%, in terms of value, from 2016 to reach a projected value of USD 17.82 Billion by 2022.
Refrigerated transport is one of the essential links in the cold chain system for distribution of perishable commodities such as milk, bakery & confectionery, dairy products, beverages, fresh fruits & vegetables, ice cream, frozen dairy products, processed meat, fish & seafood, and frozen dairy products. The growth of the refrigerated transport market is attributed to the increasing demand for temperature-controlled food across the globe, increasing globalization, and technological advancements in refrigerated transport systems and equipment.
Food products such as fresh fruits & vegetables, beverages, bakery & confectioneries, and dairy products can be chilled to temperatures ranging from 0C to 5C (32 F to 41 F) to help slow down or prevent deterioration. Chilled foods can be on the shelf within 24 hours of production and producers need to ensure they are delivered in a perfect condition, which is a key for food safety. Refrigerated transportation of frozen food products such as frozen dairy products, ice-cream, processed meat, fish and seafood, requires a temperature range of -10C to -25C. The extremely low temperatures of frozen food products inhibit the growth of microorganisms on it, ensuring the quality and freshness of food.
The refrigerated road transport market consists of LCV (Light Commercial Vehicle) which ranges from 3 tons to 7 tons; MHCV (Medium & Heavy Commercial Vehicle) which ranges from 7 tons to 16 tons and finally the HCV (Heavy Commercial Vehicle) which is above 16 tons. Refrigerated vans are used for intra-city distribution of frozen or chilled products, whereas trucks and trailers are used for long haulage of perishable commodities which require different temperatures.
Apart from road transportation, there are three other types of transportation such as marine transport, rail transport, and transportation by air. Refrigerated transport in marine refers to dedicated refrigerated cargo ships or refrigerated containers with mechanism to maintain required temperature levels during the transit. Rail freight transportation utilizes freight wagons for transportation of goods. The majority of the freight constitute dry commodities such as chemicals, coal, steel, and construction materials among others.
Rail refrigerated transport is fast gaining traction among those looking for additional capacity and one of the cost-effective transportation option. Due to time consideration, lack of infrastructure and some geographical obstacles, air transport is becoming the mode of choice for long-distance transport of perishable goods, pharma equipment, meat, and other processed food.
The European region is projected to have the largest and the fastest market share in terms of value in refrigerated road transportation market in 2022. This region experiences the latest technological advancements and the government norms favors the cold chain industry with different subsidies. Particularly the multi-temperature segment has the fastest growth when compared to single-temperature.
Market Dynamics
Drivers
- International Trade of Perishable Commodities Increasing Due to Globalization
- Increase in Demand for Frozen Perishable Commodities
- Increase in the Use of Advanced Cold Rooms
- Integration of Multi-Temperature Systems in Trucks And Trailers
Restraints
- Climate Change Affecting Transportation Infrastructure
Opportunities
- Intermodal Transport to Save Fuel Costs
Challenges
- Lack of Transport Infrastructure Support in Emerging Markets And Skilled Resources in Developed Markets
- Maintaining Product Integrity During Transportation of Perishable Commodities
- Rising Fuel Costs And Low Investment in Technology
Companies Mentioned
- 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 (Thermo King)
- Kellogg Company
- Kerry Group Plc
- Lamberet Sas
- Nestl S.A.
- Schmitz Cargobull Ag
- Singamas Container Holdings Limited
- Smithfield Foods, Inc.
- The Kraft Heinz Company.
- Tyson Foods, Inc.
- United Technologies Corporation (Carrier Corporation)
- Utility Trailer Manufacturing Company
- Wabash National Corporation
For more information about this report visit https://www.researchandmarkets.com/research/wv8fc9/refrigerated
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