The refrigerated transport market is anticipated to grow at a CAGR of 7.76% from US$109.098 billion in 2022 to US$184.108 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, June 28, 2024 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the refrigerated transport market is projected to grow at a CAGR of 7.76% between 2022 and 2029 to reach US$184.108 billion by 2029.

The refrigerated mode of transportation is the method of transporting products and shipments, in temperature-controlled vehicles. These vehicles may include trucks, vans, or shipping through specially designed containers, which can be further loaded on the railways, airplanes, or ships. Refrigerated transportation offers multiple benefits to the sellers, and manufacturers, as it offers temperature temperature-controlled environment, which results in better preservation of the products, like food and beverages, along with extending the shelf life of such products. These methods of transportation are also versatile, which means, they can carry loads that need freezing temperatures, along with shipments that require just a cold environment.

Refrigerated transportation methods are applicable across various industries, like healthcare and chemicals, along with food and beverages. In the food and beverage industry, refrigerated transportation plays a crucial role in preserving the taste and flavor of food products, along with increasing their shelf life. Especially for products like meat, and dairy products, refrigerated transportation helps to keep the product fresh during long transportation. The demand for the refrigerated transportation method is forecasted to increase further with the increasing demand for food and beverage products globally, especially for meat and dairy products.

To further boost the market size of the refrigerated transportation system in the global market, companies are introducing new and more efficient technologies to tap into new markets. For instance, in February 2024, Sumitomo Corporation and OOCL, partnered together to introduce their new refrigerated-ocean mode of transport. The company aims to offer freshness-preserving logistics for distance locations. Similarly, in September 2023, Mitsubishi Heavy Industries (MHI) introduced its new TEJ35GAM series of electric-driven trucks, with refrigeration units installed in them. With this truck, the company aims to achieve greater efficiency and faster product delivery in the transportation of perishable products.

Access sample report or view details:https://www.knowledge-sourcing.com/report/refrigerated-transport-market

The refrigerated transport market by technology is segmented into vapor compression systems, eutectic systems, cryogenic systems, and others. Under the technology segment of the refrigerated transport market, the vapor compression system is estimated to attain a greater market size. The vapor compression refrigeration system is the most common method of refrigeration globally. The vapor compression system uses a liquid refrigerant, that is being circulated across the system. This system offers a cost-effective and efficient way of cooling and is preferred in major parts of the globe, mainly due to its eco-friendly usage.

The refrigerated transport market by product is segmented into chilled and frozen. In the product segment of the refrigerated transport market, the chilled category is estimated to attain a greater share. Chilled refrigeration offers multiple applications as compared to frozen refrigeration, and it's also cost-efficient. Various products like fruits and vegetables, beverages, and various food products can be shipped efficiently through the chilled refrigeration transportation mode. The frozen refrigeration method induces lower power consumption, lowering the overall transportation cost. Apart from the food and beverage industry, the chilled refrigeration process of transportation is also used to transport pharma products, along with chemicals and flowers in some cases.

The refrigerated transport market by mode of transportation is segmented as sea, air, road, and railways. In the mode of transportation segment of the refrigerated transport market, the road transportation category is estimated to gain the maximum share. The in-land transportation is a crucial method of transportation, in which road transportation is considered the biggest factor. The increasing demand for consumable products, especially food and beverage products, has increased the global demand for road transportation in the market. The road transportation mode includes trucks, vans, and other last-mile delivery methods, offered by various companies. The refrigerated-road transportation method offers cost-effective transportation, along with the point-to-point delivery and pick-up option.

Based on geography, the refrigerated transport market is expanding significantly in the North American region, as the region is among the biggest consumers of packed food and beverage products. Countries like the USA, Canada, and Mexico are among the biggest consumers of meat products, which require refrigerated shipping, to keep the product fresh. The region also offers a huge market for dairy products, like butter, cheese, yogurts, and milk, that are also being transported through the refrigerated mode of transportation, to prevent these products from spoiling. Similarly, various industries, apart from the food and beverage industry have the application of refrigerated shipping solutions, like the healthcare industry, and chemical industry. In the healthcare industry, refrigerated transportation is essential for transporting various drugs and medication, which requires a special temperature for storage. With the growing infrastructural and overall landscape of the healthcare industry in the North American region, the need for refrigerated transportation in the industry is forecasted to boost.

As a part of the report, the major players operating in the refrigerated transport market that have been covered are Coldman Logistics, Coldrush Logistics, AGI Global Logistics, DFDS, NT Logistics, Reema Transport, Girteka, Hitech Refrigeration Services, American Transport Group, LLC, and OFE Refrigerated Transport.

The market analytics report segments the refrigerated transport market as follows:

• By Technology

o Vapor Compression Systems
o Eutectic Systems
o Cryogenic Systems
o Others

• By Product

o Chilled
o Frozen

• By Mode of Transportation

o Sea
o Air
o Road
o Railways

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Italy
• Spain
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others

Companies Profiled:

• Coldman Logistics
• Coldrush Logistics
• AGI Global Logistics
• DFDS
• NT Logistics
• Reema Transport
• Girteka
• Hitech Refrigeration Services
• American Transport Group, LLC
• OFE Refrigerated Transport

Explore More Reports:

• Industrial Refrigeration System Market: https://www.knowledge-sourcing.com/report/industrial-refrigeration-system-market

• Smart Fridge Market: https://www.knowledge-sourcing.com/report/smart-fridge-market

• Refrigerated Truck Market: https://www.knowledge-sourcing.com/report/global-refrigerated-trucks-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here
Visit us on social media:
Facebook
X
LinkedIn