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Market Overview of Global Refrigerated Transport market:
According to our latest research, the global Refrigerated Transport market looks promising in the next 5 years. As of 2022, the global Refrigerated Transport market was estimated at USD XX million, and it's anticipated to reach USD XX million in 2028, with a CAGR of XX% during the forecast years.
Refrigerated transport is a temperature-controlled means of transportation, such as refrigerated trucks and shipping containers. These vehicles are equipped with a built-in cooling system that maintains the desired temperature throughout the transportation process. They are commonly used for transporting products such as fruits, meat, seafood, and dairy, along with non-food products such as pharmaceuticals and flowers. These vehicles aid in maximizing the shelf life of the product while ensuring the year-round availability of seasonal products.
Influence of COVID-19 Outbreak on Refrigerated Transport Industry Development
The COVID-19 pandemic has reverberated around the world, leaving no stone uncovered in its wake. Due to the unprecedented nature of the pandemic, the refrigerated transport industry in particular has had to deal with a significant shift in demand and operations. At the onset of the pandemic, the refrigerated transport market experienced a sudden increase in demand due to the frantic purchasing and stockpiling of essential items such as food, medical supplies, and vaccines. This sudden increase in demand resulted in a significant strain on the supply chain as the industry struggled to meet the requirements of the population.
As the pandemic advanced, the refrigerated transport industry endured the burden of a decline in demand for non-essential products such as luxury foods, flowers, and beverages. As more people were forced to remain at home, the demand for these goods decreased, resulting in an oversupply and a price decline. During the pandemic, one of the main challenges faced by the refrigerated transport industry was the disruption of global commerce, caused by the closure of borders and the implementation of travel restrictions, which slowed the flow of goods between countries. Given that many companies rely on international trade for their supply chain, this disruption had a significant impact on industry operations and profitability.
A further difficulty that arose during the pandemic was the urgent need for enhanced safety and sanitation protocols. In order to prevent contamination and deterioration, the transportation of perishable goods requires strict adherence to hygiene and safety regulations. To ensure that the goods remained fresh and safe for human consumption, businesses had to implement new procedures, such as daily cleaning of transport vehicles and monitoring of temperature controls.
The growing food and beverage industry represents one of the key factors driving the growth of the market. This, along with the growth of the cold chain industry across the globe, is further contributing to the market growth. Furthermore, owing to the growing health-consciousness among consumers, the demand for frozen variants of various fresh products has increased, along with the growing demand for the service from residential as well as foodservice operators, such as quick-service restaurants (QSRs), hotels, and other eateries.
A major focus for manufacturers, retailers, and consumers in the food industry is to ensure food quality and safety by preventing premature expiry, decay, and spoilage. It has become necessary for service providers to invest in modern cold storage facilities, advanced vehicles, and system technologies. However, high energy costs are a growing concern for cold chain providers (energy costs are exceptionally high in North America and Europe).
Company Overview:
Maersk
A.P. Møller - Mærsk A/S, also known simply as Maersk, is a Danish shipping company, active in ocean and inland freight transportation and associated services, such as supply chain management and port operation. Maersk was the largest container shipping line and vessel operator in the world from 1996 until 2021. The company is based in Copenhagen, Denmark, with subsidiaries and offices across 130 countries and around 83,000 employees worldwide in 2020.
CMA CGM S.A.
CMA CGM offers transportation and logistics solutions. The Company provides shipping, vessel and container fleet, hazardous cargo, container and so on. Due to its global expertise in maritime and logistics, the CMA CGM Group brings its customers a seamless shipping experience truly unmatched on the market.
Maersk is one of the major players operating in the Refrigerated Transport market, holding a share of 6.63% in 2023.
Segmentation Overview:
Among different product types, Road segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Chilled Food segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Refrigerated Transport market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Refrigerated Transport Market Report:
Market Size Estimates: Refrigerated Transport market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Refrigerated Transport market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Refrigerated Transport market
Segment Market Analysis: Refrigerated Transport market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Refrigerated Transport market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Refrigerated Transport Market: Revenue and sales volume of major countries in each region
Refrigerated Transport Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Refrigerated Transport market in major regions.
Refrigerated Transport Industry Value Chain: Refrigerated Transport market raw materials & suppliers, manufacturing process, distributors, downstream customers
Refrigerated Transport Industry News, Policies & Regulations
Key players in the global Refrigerated Transport market are covered in Chapter 12:
MSC Mediterranean Shipping Company S.A.
Minutemman Transport
Union Pacific Railroad
Kuehne+Nagel
CMA CGM S.A.
Maersk
Deutsche Post DHL Group
Schneider National
IANNACE REFRIGERATED TRANSPORT
Prime Inc
J.B. Hunt Transport
O'Toole Refrigerated Transport
COSCO Shipping
Knight-Swift
In Chapter 2 and Chapter 15.1, based on types, the Refrigerated Transport market from 2018 to 2028 is primarily split into:
Road
Rail
Ship
Others
In Chapter 3 and Chapter 15.2, based on applications, the Refrigerated Transport market from 2018 to 2028 covers:
Chilled Food
Frozen Food
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Refrigerated Transport market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028