Refrigerated trailers are an integral part of the cold-chain logistics ecosystem, ensuring that fresh and perishable food products reach consumers in optimum quality. Equipped with advanced insulation and refrigeration systems, refrigerated trailers maintain controlled temperatures ideal for transportation of various temperature sensitive commodities including meat, seafood, fruits, vegetables, dairy products, and ready-to-eat meals over long distances. Increasing global population and changing dietary preferences are fueling the demand for fresh food which is driving investments in cold chain infrastructure including refrigerated trailers. The global Refrigerated Trailer Market is estimated to be valued at US$ 5.63 billion in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased demand for fresh food products has been one of the key demand drivers of the refrigerated trailer market over the years. Due to growing health-consciousness, consumers prefer fresh food products over processed or canned varieties which is augmenting the cold chain infrastructure across regions. Growing availability of temperature-sensitive fresh food via organized retail channels and e-commerce platforms has further accelerated the adoption of refrigerated trailers for transportation. Key manufacturers are also introducing advanced trailer models equipped with real-time monitoring systems, advanced insulation, and eco-friendly refrigerants to optimize performance, increase efficiency, and meet stringent emission norms.
Segment Analysis
The refrigerated trailer market size is dominated by the refrigrated vans sub segment. These vehicles are boxes on wheels that are equipped with an integrated refrigeration unit to maintain temperature controlled environment for transport of perishable goods like fruits, vegetables, meat, dairy products etc. Due to their rigid structure and ability to carry heavy loads, refrigerated vans cater to majority of temperature controlled cargo transport needs and account for over 60% of the global refrigerated trailer market share.
Key Takeaways
The global refrigerated trailer market is expected to witness high growth.
Regional analysis: North America accounts for the largest share in the refrigerated trailer market, owning over 35% of the global market share. Rapid growth in pharmaceutical, food processing and dairy industries has been driving the demand for temperature controlled logistics in the region. Asia Pacific region is witnessing the fastest growth in refrigerated trailer market owing to rising temperatures sensitive cargo transport requirements with growing food processing and food retail industries in countries like China, India and Southeast Asia.
Key players operating in the refrigerated trailer market are Great Dane Trailers, Wabash National Corporation, Schmitz Cargobull, Utility Trailer Manufacturing Company, Torin Jack, Kogel Trailer GmbH, Cold Chain Technologies and Carrier Transicold.
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