The increasing demand for meat products is a key factor predicted to aid growth of the global refrigerated transport market, says Fortune Business Insights in a report titled “Refrigerated Transport Market Size, Share and Industry Analysis, By Mode of Transportation (Sea, Air, Road, Railways), By Product (Chilled, Frozen), By Technology (Vapour Compression Systems, Eutectic Systems, Cryogenic Systems, Others) and Regional Forecast, 2019-2026.” The surge in the food industry is expected to contribute significantly to the global refrigerated transport market.
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Some Of The Major Companies That Are Present In The Global Refrigerated Transport Market Are:
- GAH Refrigeration Ltd.
- Carrier Transicold Inc.
- Daikin Industries
- Swift Transportation Company
- DB Schenker
- Conagra Brands Inc.
- MSC Mediterranean Shipping Company S.A.
- Del Monte Pacific Ltd.
- Wabash National Corporation
- China International Marine Containers (Group) Ltd.
- and C.H. Robinson worldwide.
As per the report, the surge in the exportation of goods and services around the world is expected to contribute significantly to the global refrigerated transport market. According to the research findings, approximately one-fourth of the total global production of goods and services are exported. In addition, the introduction of freezing technology and automated freezing technology will boost the global refrigerated transport market revenue during the forecast period.
The report offers a detailed study of the refrigerated transport market and enlists all the new developments and advances that took place in recent times. The report indicates and delivers a comprehensive structure of the global refrigerated transport market, which enables key players to flexibly work on their plans and expand their business.
The increasing number of small and large food chains across the globe, coupled with the growing HoReCa sector especially across developing economies are projected to foster the demand for frozen food (raw materials) which is further expected to drive the growth of global refrigerated transport market during the foreseeable years.
Presence of Key Players Will Stimulate Growth in Asia Pacific
The refrigerated transport market in Asia Pacific is expected to register at a considerable rate during the forecast period owing to the presence of key players and rising economies such as India and China. China, being the leading trader in the global food products market, is expected to aid the growth of the refrigerated transport market in Asia pacific.
Furthermore, rising governmental investment in Asian countries on improving the logistic and transportation industry, coupled with the enlargement of the frozen food consuming population of the region, and rising disposable income are expected to contribute greatly to the growth of the market in Asia Pacific. The rising adoption of e-commerce by the food industry in the region is also predicted to contribute to the refrigerated transport market growth during the forecast period.
Increasing Demand for Frozen Food Will Favor Growth
The growing number of small and large food chains around the world is expected to aid the global refrigerated transport market growth. The increasing demand for frozen food is further expected to boost the global refrigerated transport market revenue. The escalation in globalization will contribute significantly to the global refrigerated transport market growth. The recent product launches and acquisition by key players to strengthen their product portfolio and maintain their dominance in the global market is expected to enable the growth of the global refrigerated transport market.
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For instance, Dearman Ltd. Launched Dearman Hubbard Zero-emission TRU in collaboration with Unilever. For a period of six months, a Dearman Hubbard transport refrigeration unit was taken into account by Unilever for the delivery of frozen products in the Netherlands.
Moreover, Swift Transportation Company and Knight Transportation Inc., Knight Swift the two largest trucking companies, announced their merger and became Knight Swift Transportation Holdings. The merger between the companies will create new growth opportunities for the global refrigerated transport market in the upcoming years.
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