Global Chilled Products Transport Market: Overview

The global chilled products transport market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Key factors driving market revenue growth include rapid globalization, increasing imports and exports of food & beverages and pharmaceutical products, and increasing preference for chilled and frozen products in households, restaurants, and food service centers. Need to maintain nutritional value and prevent spoilage of food products, and requirement of specific temperatures for pharmaceutical products during storage or transportation, and to extend shelf life of such products has been resulting in transportation and logistics companies engaged in transporting food and pharmaceutical products in the market adopting more technologically advanced refrigeration systems, vehicles, and containers. In addition, stringent government regulations regarding production and transportation of refrigerated food and pharmaceutical products has been resulting in manufacturers and transporters constantly evolving and adopting new and more efficient, advanced, and cost-effective technologies and refrigeration systems.

Chilled products transport, also commonly referred to as Refrigerated Transport, is the transportation of perishable and temperature-sensitive products such as fresh agricultural produce, chilled food products such as dairy, frozen seafood, and Processed Meat products, and various pharmaceutical products. The vehicles and containers in which these products are transported have built-in refrigeration systems to maintain the required temperature. Chilled products are mostly transported using refrigerated trucks, refrigerated cargo ships, air cargo, and reefers.

Global Chilled Products Transport Market: Dynamics
Drivers:  Increase in shipping of pharmaceutical products worldwide

Increased demand for pharmaceutical products in countries across the globe is one of the primary factors driving the global market growth. Pharmaceutical products, including medicinal drugs, Vaccines, Aerosol inhalers, and injectables such as insulin, are highly temperature-sensitive and require refrigeration between 2°C and 8°C. In addition, biopharmaceutical products such as organs, blood/plasma, and tissue transplants need to be stored at temperatures ranging from 2°C to 8°C. Rising demand for advanced refrigeration technologies in the pharmaceutical logistics sector is a major factor boosting market growth. Increasing volumes of pharmaceutical drugs and vaccines for shipping to different countries since the COVID-19 pandemic has further bolstered market growth to a significant extent.

Restraints: Challenges associated with chilled product transport

Various factors affecting product safety and quality such as equipment failure, incorrect temperature, and compliance issues are some key factors expected to negatively impact growth of the global chilled products transport market to some extent. Improper loading practices and unfavorable environmental conditions lead to fluctuations in interior temperature of containers, and can result in adverse impact on temperature-sensitive products. Moreover, product damage is often caused by equipment failure, fluid leaks, faulty calibration, condenser issues, or sensor malfunctions.

Global Chilled Products Transport Market: Product Type Outlook

The frozen food products segment is dominant in terms of revenue. Changing lifestyle among consumers, rising demand for frozen Dairy Products such as ice creams and confectionery, and rising preference for frozen food products, including processed meat and frozen seafood, due to various advantages such as longer shelf life and reduced cooking time are major factors fueling revenue growth of this segment.

Global Chilled Products Transport Market: Technology Outlook

Based on technology, the global market is segmented into vapor systems, air-blown evaporators, cryogenic systems, eutectic devices, and others. The vapor compression systems segment is the leading segment with the highest revenue growth rate. A vapor compression refrigeration system (VCRS) is one of the most widely used refrigeration method for cold transport. Rising preference for vapor compression systems for refrigerated road and Rail transport is a key factor contributing to this segment’s revenue growth.

Global Chilled Products Transport Market: Regional Analysis

Among regional markets, North America dominates other regional markets and accounted for largest revenue share in 2020. Increasing government investments in the development of Cold Chain logistics infrastructure, growing deployment of refrigerated vehicles for cold transport, incorporation of technologically advanced refrigeration systems in these vehicles, and increased imports of frozen food products such as seafood from various coastal countries are factors positively impacting North America market growth. Presence of leading market players including United Technologies Corporation and AmeriCold Logistics in the region is another major factor driving North America market growth.

The Middle East & Africa chilled products transport market is expected to register fastest revenue growth rate over the forecast period, owing to rising demand for perishable food products such as fresh fruits & vegetables, increasing imports of chilled and frozen food products, and rising spending by governments on cold chain logistics in countries the region.

Companies Profiled in the Report:

United Technologies Corporation, AmeriCold Logistics LLC, Daikin Industries Ltd., China International Marine Containers Co. Ltd., Utility Trailer Manufacturing Company, Singamas Container, Hyundai Motor Company, Schmitz Cargobull AG, Fahrzeugwerk Bernard KRONE, Lamberet, Carrier Transicold, Inc., GAH Ltd., Maersk A/S, Mediterranean Shipping Company S.A., and Swift Transportation are among the leading companies operating in the global chilled products transport market.

Report Scope & Segments Covered in the Report:

This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2018 to 2028. The global chilled products transport market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global chilled products transport market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.

 

For the purpose of this report, the global chilled products transport market is segmented based on product type, technology, mode of transportation, vehicle type, temperature, and region:

Product Type Outlook (Revenue, USD Billion; 2018-2028)

  • Pharmaceutical Products
  • Chilled Food Products
    • Dairy Products
    • Bakery Products
    • Confectionery
    • Fresh Fruits & Vegetables
    • Others
  • Frozen Food Products
    • Frozen Dairy Products
    • Processed Meat Products
    • Fish and Seafood Products
    • Others
  • Others

Technology Outlook (Revenue, USD Billion; 2018-2028)

  • Vapor Compression Systems
  • Air-blown Evaporators
  • Cryogenic Systems
  • Eutectic Devices
  • Others

Mode of Transportation Outlook (Revenue, USD Billion; 2018-2028)

  • Refrigerated Road Transport
  • Refrigerated Rail Transport
  • Refrigerated Air Transport
  • Refrigerated Sea Transport

Vehicle Type Outlook (Revenue, USD Billion; 2018-2028)

  • Light Commercial Vehicles (LCVs)
  • Medium Commercial Vehicles (MCVs)
  • Heavy Commercial Vehicles (HCVs)

Temperature Outlook (Revenue, USD Billion; 2018-2028)

  • Single-temperature
  • Multi-temperature

Region Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Singapore
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of Middle East & Africa

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