Truck Refrigeration Market worth US$ 13,336.1 Million by 2027 - Exclusive Report by The Insight Partners (1)

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Report Code TIPRE00005314   No. of
Pages 171   Category Electronics and
Semiconductor 

• Truck Refrigeration Market Size, Growth, Industry
  Analysis By Forecast 2027

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• Truck Refrigeration

The truck refrigeration market was valued at US
9,100.1 million in 2019 and it is projected to
reach US 13,336.1 million by 2027 it is
expected to grow at a CAGR of 5.0 from 2020 to
2027. Truck refrigeration is mainly utilized in
delivering frozen and perishable foods and
vegetables within and outside the city. These
trucks assist in maintaining the safety and
freshness of food items during transportation so
the increase in the consumption of chilled,
frozen, and perishable food products will drive
the truck refrigeration market. Moreover, with
rising disposable income, the consumption of
convenience food increases along with a rise in
number of restaurants and supermarkets, are
positively creating a demand for refrigerated
trucks. A need to transport different types of
food items with varying temperature requirement
at a single time is another factor propelling the
growth of the refrigerated truck. Additionally
there is a significant demand for refrigerated
trucks in pharmaceutical industry for supplying
pharma products to their destination. These
trucks undergo through routine inspections to
ensure that these are in suitable condition to
keep drugs and other pharma products at suitable
temperature. Therefore, surging demand for
transportation of temperature specific medicine,
vaccines, frozen food items, and other products
in pharmaceutical and food beverages industries
is propelling the growth in demand for
refrigerated trucks which in turn is generating
demands for truck refrigeration units among the
truck manufacturers.
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• MARKET SEGMENTATION

The truck refrigeration market has been segmented
as follows Truck Refrigeration Market by
Type Split Systems Roof Mounted Systems Truck
Refrigeration Market by Application             
                              Frozen Chilled Truc
k Refrigeration Market by Industry
Vertical                                  Food
Beverage Pharmaceutical Chemical Others Truck
Refrigeration Market by Vehicle
Type Trailers Medium Heavy Commercial Vehicles
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• REGIONAL INSIGHTS

The Truck Refrigeration market has been derived
from market trends and revenue generation factors
from five different regions across the globe
namely North America, Europe, Asia Pacific,
Middle East, and Africa, and South America. The
Asia Pacific is projected to be the
fastest-growing region in the global Truck
Refrigeration market. Whereas, APAC, followed by
Europe, holds the highest market share in the
Truck Refrigeration market in 2018.   APAC is the
fastest-growing Truck Refrigeration market
worldwide. The swift economic development in the
region, together with substantial enhancement in
living standards, would fuel the region's market
share during the forecast period. The building
construction investment by respective state
government authorities would positively optimize
the business outlook the rising demand for Truck
Refrigeration's, both storage as well as
non-storage, would also augment the industry
landscape.
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• REGIONAL INSIGHTS

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• Key findings of the study

The safety of food products is a major concern
worldwide, mainly due to the increase in demand
for fresh food items. Shipping frozen and
perishable food items such as meat, seafood,
vegetables, and fruits is a major task in the
food beverages industry, which is increasing
the requirement of advanced refrigeration systems
for transportation. The rising demand for cold
chain products is driving the adoption of
refrigerated trucks. Additionally, the rise in
demand for online delivery of chilled and frozen
products is generating the growth opportunities
for the truck refrigeration market players.
Mounting importance of organic food in countries
such as Germany, the US, and the UK owing to the
strict restrictions on the intake of synthetic
ingredients such as artificial colors in the
foodstuff is anticipated to encourage the scope
of the refrigerated trucks in the coming years.
  Some of the other notable players in the
global Truck Refrigeration market include Carrier
Global Corporation Daikin Denso Klinge
Corporation Mitsubishi Heavy Industries, Ltd.
SCHMITZ CARGOBULL Subros Limited Songz
Automobile Air Conditioning Co., Ltd. Thermo
King and Webasto Thermo Comfortare among the
leading players in the truck refrigeration market
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• REPORT HIGHLIGHTS

• Our report on Accounting Software Market cover
  following key parameters
• Comprehensive market analysis at global, regional
  and country level
• Detailed PEST (Political, Economic, Social and
  Technological) factors impacting the market
  across key geographic regions such as North
  America, Europe, Asia Pacific, Middle East
  Africa, and South America
• Market dynamics (drivers, restraints,
  opportunities, and future trends) and impact
  analysis of drivers and restraints at short-term,
  mid-term and long-term
• Market size and forecasts in terms of revenue
  2018 (historic), 2019 (base year), 2019 27
  (forecast period)
• In-depth market segmentation and deep dive
  regional and country level analysis of 18
  countries across 5 key regions
• Key company profiles and industry landscape to
  provide latest market initiatives and competitive
  landscape
• Impact of COVID19 pandemic on ecosystem and the
  market

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• REPORT HIGHLIGHTS

The Insight Partner's dedicated research and
analysis team consist of experienced
professionals with advanced statistical expertise
and offer various customization options in the
existing study.
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