According to the new market research report “Refrigerated Truck Refrigeration Units- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Refrigerated Truck Refrigeration Units market size is projected to reach USD 1.71 billion by 2029, at a CAGR of 3.4% during the forecast period.
- Global Refrigerated Truck Refrigeration Units MarketSize (US$ Million), 2018-2029
Source: QYResearch, "Refrigerated Truck Refrigeration Units- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
- Global Refrigerated Truck Refrigeration UnitsTopPlayers Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)
Source: QYResearch, "Refrigerated Truck Refrigeration Units- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of Refrigerated Truck Refrigeration Units include Thermo King, Carrier, DENSO, Zanotti, Mitsubishi Heavy Industries, Hwasung Thermo, Hubbard Products, Zhengzhou Kaixue, Kingtec, Dongin Thermo, etc. In 2022, the global top five players had a share approximately 73.0% in terms of revenue.
In terms of product application, currently Food/Beverages is the largest segment, hold a share of 61.9%.
Market Drivers:
Increasing Demand for Cold Chain Logistics: With the growth of industries such as pharmaceuticals and food & beverages, there's a rising demand for Refrigerated Truck Refrigeration Units to maintain the integrity of temperature-sensitive goods during transit.
Technological Advancements: Advances in refrigeration technologies, including more energy-efficient and environmentally friendly solutions, can drive market growth.
Restraint:
High Initial Costs: The upfront costs associated with purchasing and installing Refrigerated Truck Refrigeration Units can be a significant barrier for some businesses.
Limited Infrastructure in Developing Regions: Lack of proper cold chain infrastructure in some developing regions may hinder the growth of the transportation refrigeration unit market.
Opportunity:
E-commerce Growth: The expansion of e-commerce and online grocery shopping can provide opportunities for the transportation refrigeration unit market as the need for reliable cold chain logistics increases.
Globalization of Supply Chains: The globalization of supply chains and the increasing need for transporting goods over longer distances can create opportunities for the market.
About The Authors
Kang Qi - Lead Author
Email: kangqi@qyresearch.com
Kang Qi is a technology & market senior analyst specializing in industrial equipment. He is engaged in the development of technology and market reports and is also involved in custom projects.
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
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