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Refrigerated Transport Market Worth $19.29 Billion by 2023

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News provided by

MarketsandMarkets

03 Sep, 2018, 09:00 GMT

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PUNE, India, September 3, 2018 /PRNewswire/ --

According to a new market research report "Refrigerated Transport Market by Application (Chilled, Frozen), Mode of Transportation (Road, Sea, Rail, Air), Vehicle Type (LCV, MHCV, HCV), Temperature (Single Temperature, Multi Temperature), Technology, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is estimated to account for USD 14.64 billion in 2018 and is projected to reach USD 19.29 billion by 2023, growing at a CAGR of 5.67% from 2018 to 2023.

     (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Browse 151 market data Tables and 63 Figures spread through 237 Pages and in-depth TOC on "Refrigerated Transport Market"

https://www.marketsandmarkets.com/Market-Reports/refrigerated-transport-market-779494.html

Early buyers will receive 10% customization on this report 

The growth of the Refrigerated Transport Market is attributed to the growth of the cold chain industry due to globalization, consumer demand for frozen perishable commodities, increasing demand for cold chain technology solutions, the demand for advanced automated systems in commercial vehicles, and rising trend of engine downsizing in the automotive industry.

Ask for PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=779494

The fresh fruits & vegetables segment is projected to dominate the Refrigerated Transport Market throughout the forecast period 

Based on application, the chilled fresh fruits & vegetables segment is projected to dominate the Refrigerated Transport Market in volume terms through 2023. Improved technology, fall in transportation costs, and the international trade agreements have fueled the demand for fresh fruits & vegetables, both in terms of value and volume. China is one of the key markets for the export of fresh fruits & vegetables in the Asia Pacific market.

The LCV segment is projected to dominate the road transport segment 

The LCV segment accounted for the largest share in the Refrigerated Transport Market in terms of value in 2017.  There has been an upsurge in the cold chain industry in countries such as China and India, which has resulted in an increase in the sale of refrigerated LCVs in the Asia Pacific. Increase in the demand for LCVs has also been witnessed for the products that are lightweight and produce low emission. Key companies are focusing on aligning with the requirements to offer ease of transportation of perishable food products across countries. Moreover, factors such as availability of easy finance options for fully-built vehicles will contribute towards the increase in the sales of refrigerated LCVs.

The chilled products segment, by application is estimated to remain dominant in the Refrigerated Transport Market throughout the forecast period 

The chilled products segment accounted for the largest share in the Refrigerated Transport Market in terms of volume in 2017. Demand for chilled products is on the rise in developing countries of South America and the Asia Pacific due to the increased demand for the on-the-go food products. Besides this, the Asia Pacific region consists of key revenue pocket countries such as China, which is one of the largest markets for the bakery products and is expected to create lucrative opportunities for the chilled products manufacturers in the coming years. The country is also involved in the export of fresh fruits & vegetables, which is further expected to boost the demand for refrigerated transport services.

Asia Pacific dominated the global Refrigerated Transport Market: 

The Asia Pacific market accounted for the largest share in the Refrigerated Transport Market in terms of value in 2017. The region consists of key revenue pocket countries such as China and India, which are the key revenue pockets in terms of growth. This is mainly due to the growth in the trend of consuming chilled & frozen food products in these countries. China is one of the largest importers and exporters of food products at a global level. The country relies on imports to fulfill the demand of its large population. The e-commerce industry is further booming in this region due to the increasing preference for home delivery services in the country. Apart from this, the government is focusing on developing logistics and infrastructure, which is gaining the attention of local service providers to expand in the Refrigerated Transport Market.

This report includes a study of marketing and development strategies along with the product portfolios of the leading companies. It includes the profiles of leading companies such as Daikin Industries (Japan), Ingersoll-Rand (Ireland), China International Marine Containers (China), and Utility Trailer (US). Other key players include Singamas Container (China), Hyundai (South Korea), Schmitz Cargobull (Germany), Fahrzeugwerk Bernard Krone (Germany), Lamberet (France), Kögel Trailer (Germany), Great Dane (US), Webasto (Germany), and Wilhelm Schwarzmuëller (Austria).

Know more about the Refrigerated Transport Market: 

https://www.marketsandmarkets.com/Market-Reports/refrigerated-transport-market-779494.html

About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/refrigerated-transport-market.asp 
Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets

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