The Refrigerated Trailer Market Is Estimated To Witness High Growth Owing To Growing Demand For Temperature-Controlled Transport

Refrigerated Trailer Market

 The refrigerated trailer market consists of various vehicles that are used for temperature-controlled transportation of cargo to prevent spoilage. These trailers maintain temperatures ranging from -30°C to 10°C to transport perishable goods like meat, dairy products, seafood, fruits and vegetables over long distances. They find widespread applications in industries such as food & beverages, pharmaceuticals and floriculture.

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 Dynamics:

Growing demand for temperature-controlled transportation of perishable goods is expected to be a major driver for the market over the forecast period. With increasing global trade of commodities that require refrigeration during transportation, the demand for refrigerated trailers is growing steadily. Additionally, rising consumption of packaged and processed food across regions is also fueling the utilization of refrigerated vehicles for distribution. Furthermore, advancements in refrigeration technologies have improved the overall efficiency and reduced operating costs of refrigerated trailers, making them more commercially viable.

SWOT Analysis

Strength: The Refrigerated Trailer Market has strong growth potential due to rising demand for temperature-controlled logistics in the food industry. Refrigerated trailers offer reliable transportation of perishable goods over long distances. Manufacturers provide advanced features such as real-time tracking and temperature monitoring in refrigerated trailers.
Weakness: High initial costs of refrigerated trailers limit their adoption, especially in price-sensitive markets. Dependence on diesel as fuel increases operational costs of refrigerated trailers.
Opportunity: Expanding e-commerce industry is expected to drive demand for refrigerated trailers for transportation of temperature-sensitive goods. Development of electric and hybrid refrigerated vehicles provide an opportunity for sustainable transportation.
Threats: Stringent emission norms on commercial vehicles pose technical challenges for refrigerated trailer manufacturers. Volatility in fuel prices can significantly increase transportation costs.

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 investments towards cold chain logistics infrastructure, especially in developing countries. Government support for development of refrigerated transportation is also supporting market growth.

Regional analysis: North America currently dominates the refrigerated trailer market, followed by Europe. Growing agriculture and food processing industries are driving demand for refrigerated trailers in these regions. Asia Pacific is expected to witness fastest growth due to rising consumption of perishables and meat products in countries such as China and India.

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. The market is highly competitive with presence of both global and regional manufacturers. Manufacturers are focusing on new product innovation, collaborations, and expansion in growing markets.

For more insights, Read-

https://www.pressreleasebulletin.com/refrigerated-trailer-market-trends-size-and-share-analysis/

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