Refrigerated Transport Market Size to Reach USD 16840 Million by 2026 at CAGR 3.3% - Valuates Reports

BANGALORE, India, June 28, 2021 /PRNewswire/ -- The Refrigerated Transport Market is Segmented by Mode of Transportation(Airways, Roadways, Seaways), by Application (Food and Beverages, Healthcare, Others). The report covers global opportunity analysis and industry forecasts from 2021 to 2026. It is published on Valuates Reports in the Transportation & Logistics Category.

The global Refrigerated Transport market size is projected to reach USD 16840 Million by 2026, from USD 13030 Million in 2019, at a CAGR of 3.3% during the forecast period 2021-2026.

Major factors driving the growth of the refrigerated transport market are:

• Increased worldwide trade in perishable commodities, since decreased tariffs, make cross-border transit of perishable items easier.
• Increased customer loyalty toward refrigerated food products
• Further, the refrigerated transport market is expected to grow due to technology developments in refrigerated systems, notably technical solutions developed by refrigerated transport service providers to reduce the environmental effect. 

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TRENDS INFLUENCING THE GROWTH OF THE REFRIGERATED TRANSPORT MARKET

The refrigerated transport market is likely to be driven by rising customer demand for high-quality and safe food. Refrigerators are used to extend the shelf life of food and retain its optimal quality, reducing the chances of bacterial growth.

Furthermore, the refrigerated transport market is predicted to grow as demand for marine transportation grows due to the relatively cheap costs associated with it. The market is projected to be boosted further by an increase in global demand for meat and seafood. Aside from that, bakery and confectionery are expected to be a lucrative industry that will propel the growth of the refrigerated transport market, as bread is one of the most widely consumed foods, and refrigeration is required to manufacture, maintain uniformity, avoid rotting, and preserve the product.

Increased usage of modern cold rooms, strict government restrictions governing frozen food production, processing, transportation, and quality, and increased international trade of perishable commodities have all contributed to the worldwide refrigerated transport market's rise.

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REFRIGERATED TRANSPORT MARKET SHARE ANALYSIS

Based on the region. Europe is projected to have the largest and fastest-growing refrigerated transport market by 2023. This dominance of the region is attributed to technological advancements and the government norms favor the cold chain industry with different subsidies.

Based on type, the Seaways segment is expected to be the most lucrative during the forecast period. This mode of transportation has enormous potential for future growth as an economical and efficient overseas route of delivery.

Based on application, the food and beverage sector is expected to be most lucrative, since they can perish easily. 

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Major Key Players in the Refrigerated Transport Market

• Americold Logistics
• SSI SCHAEFER
• Preferred Freezer Services
• Burris Logistics
• Kloosterboer
• Lineage Logistics Holding LLC
• AGRO Merchants Group, LLC
• NewCold Cooperatief U.A.
• DHL
• Gruppo Marconi Logistica Integrata
• BioStorage Technologies, Inc
• Nichirei Logistics Group
• OOCL Logistics
• JWD Group
• CWT Limited
• SCG Logistics
• X2 Group
• Best Cold Chain
• AIT
• Crystal Logistic Cool Chain Ltd
• ColdEX
• Others

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SIMILAR REPORTS

-  The global Cold Chain market size is projected to reach USD 507,030 Million by 2026, from USD 225,580 Million in 2019, at a CAGR of 12.3% during the forecast period 2021-2026. Europe is the largest market of Cold Chain, with a market value share nearly 27.46% in 2016. The second place is North America; following Europe with the market value share over 27.15% in 2016.

-  The global Cold Chain Logistics market size is projected to reach USD 742440 Million by 2026, from USD 269960 Million in 2019, at a CAGR of 15.5% during 2021-2026. Of the major players, the biggest player Nichirei Logistics Group accounted for 0.89% the Global Cold Chain Logistics revenue market share, Americold Logistics and Burris Logistics accounted for 0.78% and 0.62% respectively.

-  The Asia-Pacific cold chain logistics market size was valued at USD 68.32 Billion in 2019, and is projected to reach USD 133.97 Billion by 2027, registering a CAGR of 11.7%.

-  The global Cold Chain Monitoring market size is projected to reach USD 7898.9 Million by 2026, from USD 4608.9 Million in 2019, at a CAGR of 8.0% during 2021-2026.

-  The global Industrial Refrigeration Systems market size is projected to reach USD 28540 Million by 2027, from USD 22080 Million in 2020, at a CAGR of 3.3% during 2021-2027.

-  The Cold Chain Tracking and Monitoring Devices market size was valued at USD 3247.9 Million in 2020 and is projected to reach USD 6529.9 Million by 2027, at a CAGR of 10.5% during the 2021-2027

-  IT Spending In Cold Chain Logistics Market size is projected to reach USD 13720 Million by 2026, from USD 6129.9 Million in 2019, at a CAGR of 12.2% during 2021-2026.

-  The global Natural Refrigerants market size was valued at USD 1519 Million in 2019 and it is expected to reach USD 3473.4 Million by the end of 2026, growing at a CAGR of 12.4% during 2021-2026.

-  Refrigerated Warehousing Market contains segmentation By Type (Blast freezing, Vapor compression, PLC, Evaporative cooling), By Application (Fruits & vegetables, Bakery & confectionery, Milk & dairy products, Meat, Seafood, Beverages)

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