by The Refrigerated Trailer Market offers a wide range of refrigerated trailers and trucks used to transport temperature-sensitive cargo such as frozen food, vegetables, dairy products, meat, aquatic products and pharmaceuticals over long distances. Refrigerated trailers maintain uniform temperatures between -10°C to 10°C for safe transportation of perishable items. They prevent spoilage through well-insulated bodies, refrigeration units that circulate chilled air, and data loggers to track temperature fluctuations.
The Global Refrigerated Trailer Market is estimated to be valued at US$ 5.07 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Refrigerated Trailer Market are Airbiquity, Amazon, Bosch, CloudMade, Connexion, Continental, Denso, Ericsson AB, Harman, Intellias, LG Electronics, Microsoft, Sierra Wireless, Telenav, and Verizon.
The growing demand for frozen and chilled food items along with pharmaceutical products is driving the refrigerated trailer market. Increased globalization has led to rising international trade in perishable commodities auguring well for the cold chain logistics industry. Rapid urbanization and changing consumer eating patterns are also propelling refrigerated trailer sales.
The Refrigerated Trailer Market Demand is expanding globally with manufacturers evaluating opportunities in emerging nations to tap the rising demand. Large refrigerated trailer fleet owners are collaborating with technology companies to upgrade their assets with telematics, thermal insulation, and remote monitoring solutions.
Market Key Trends
The Refrigerated Trailer Market is embracing digitalization with key players integrating technologies like telematics, IoT sensors, cloud computing, and AI. Features like remote cargo monitoring, predictive maintenance, freight tracking, and smart refrigeration control help boost operational efficiency. Data-driven insights provide fleet managers visibility into driver behavior, fuel usage, location, temperature fluctuations and help optimize routes. The implementation of digital solutions will be a defining trend, driving aftermarket revenues as existing assets get upgraded to include the latest connectivity and automation features.
Porter’s Analysis
Threat of new entrants: Low capital requirements for starting new Refrigerated Trailer Market Regional Analysis manufacturing plants pose a moderate threat. Bargaining power of buyers: Large fleet owners and shipping companies enjoy high bargaining power owing to their considerable demand. Bargaining power of suppliers: Few component suppliers for specialized refrigeration units limits suppliers’ bargaining power. Threat of new substitutes: No viable substitute exists for temperature-controlled transportation of perishable goods over long distances. Competitive rivalry: Intense competition exists amongst established manufacturers to cater to varied cargo needs.
Geographical Regions
North America currently accounts for the largest share of the global refrigerated trailer market in terms of value. This can be attributed to high demand for frozen and chilled food along with abundance of transportation of pharmaceutical products in the region. Asia Pacific is expected to be the fastest growing market during the forecast period. This growth can be attributed to rising penetration of cold chain infrastructure and organized retail sector in India and China coupled with increasing disposable income.
Geographical Regions
Europe is another prominent regional market for refrigerated trailers owing to stringent food quality and safety regulations. Countries such as Germany, UK, France among others are major consumers. Middle East and Latin America are emerging markets driven by industrial growth along with rising consumer goods sector.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
