Truck Refrigeration Unit Market Poised to Expand at a Robust Pace Over 2029

According to a recent Fact.MR study, ~97,969 truck refrigeration units were sold in the 2018, and sales are highly likely to expand 1.5X during 2019 to 2029. The use of truck refrigeration units for the transportation of fruits and vegetables is envisaged to account for a substantial market share in 2019, and will be accountable for 40% of the overall sales through 2029. 

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Chillers Remains the Key Asset for Stakeholders

The Fact.MR study opines that the demand for highly perishable foods has been expanding at an unprecedented pace, which in turn continues to hard press the food and beverage companies to strengthen their product cold supply logistics/chain. This has led to an increased demand for proper transportation refrigeration infrastructure, while creating a window of opportunities for the market players. 

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In light of the dire need for the proper and safe transportation of highly temperature-sensitive products, such as fruits and vegetables, meat and sea food, and dairy products among others, chillers have been witnessing a significant demand over freezers. Growing agriculture sector, specifically in countries like India is further underpinning the adoption of chillers, which the Fact.MR study estimates that is likely to exhibit the incremental opportunity of ~510 Mn between 2019 and 2029. The demand for chillers has been primarily driven by the rapidly growing global meat production, which is anticipated to be 16% higher in next five years. As per the study, higher meat and sea food production will create an increased demand for refrigeration transportation, which in turn is projected to create innumerable opportunities for the market players in the forthcoming years. 

Truck Refrigeration Units Market – Segmentation

Fact.MR’s study analyzes the truck refrigeration units market on the basis of power, product, vehicle, end use and region. The report also offers comprehensive information about the market dynamics as well as the various trends associated with varying segments, and how they are shaping the growth of the truck refrigeration units market.

Product ChillerFreezer
Vehicle Light Duty TrucksMedium Duty TrucksHeavy Duty Trucks
End Use DairyFruits and VegetablesMeat and Sea FoodOthers
Power Vehicle PoweredDiesel Powered
Region North AmericaLatin AmericaEuropeEast AsiaSouth AsiaOceaniaMEA

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After reading the  Truck Refrigeration Unit Market report, readers can:

  • Understand the drivers, restraints, opportunities and trends affecting the growth of the global .
  • Analyze key regions holding significant share of the total   Truck Refrigeration Unit Market revenue.
  • Study the growth outlook of the global   Truck Refrigeration Unit Market scenario, including production, consumption, history and forecast.
  • Learn consumption pattern and impact of each end use on the   Truck Refrigeration Unit Market growth.
  • Investigate the recent R&D projects performed by each   Truck Refrigeration Unit Market player.

The Truck Refrigeration Unit Market report answers important questions which include:

  • What does the status of the   Truck Refrigeration Unit Market?
  • Truck Refrigeration Unit Market look like after the forecast period?
  • Which region has the highest contribution to the global   Truck Refrigeration Unit Market and why?
  • Which players remain at the top of the Truck Refrigeration Unit Market?
  • What opportunities are available for the   Truck Refrigeration Unit Market players to expand their production footprint?
  • Which segment has the maximum impact on the Truck Refrigeration Unit Market?

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Times of Chennai journalist was involved in the writing and production of this article.