The report forecasts the global refrigerated warehousing market to grow at a CAGR of 14.27% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
A trend helping to boost market growth is the adoption of automated storage and retrieval systems. These systems are specially required by temperature controlled warehouses, where temperatures go down to -18 degrees Celsius. These warehouses will face operational and logistical challenges, such as inventory damage, high turnover, frequent breakdowns, more frequent battery changes, and lower productivity, if they continue to depend on manual operations.
According to the report, a key growth driver is the rise in the trade of frozen food and sea food products. The demand for seafood continues to increase globally, and the significant population growth in China, India, and Brazil is an important demand driver in the frozen fish and seafood industry. Increased demand for seafood has led to a rise in its import and exports within countries, which required cold storage and transportation.
Further, the report states that one challenge that could adversely impact market growth is the high real estate and energy consumption costs.