Global Truck Refrigeration Unit Market Size, Trends, and Growth Opportunity, By Type (Split System And Roof Mount System), Length (< 8-Meter, 8-12-Meter, And >12-Meter), Power Capacity (5 Kw - 19 Kw, Below 5 Kw, And Above 19 Kw), Vehicle Type (Light Commercial Vehicles (LCV), Medium & Heavy Commercial Vehicles, Trailer (Container), Bus, And Others), Application (Chilled And Frozen), Power Source (Engine Powered And Independent) By Region and forecast till 2030
Global Truck Refrigeration Unit Market
Global Truck Refrigeration Unit Market was valued at USD 12557.22 Million in 2022 and is slated to reach USD 19261.54 Million by 2030 at a CAGR of 5.49 % from 2023-2030.
When transporting perishable goods (like frozen foods, vegetables, fruits, ice cream, and wine), truck refrigeration systems are used as refrigerated/reefer trucks with mechanical refrigeration systems to maintain the chilled or frozen goods at the proper temperatures to the point of sale. A refrigerator is a truck, trailer, or goods container used to transport goods that need to be kept at a specific temperature. For LTL (Less-Than-Truckload) shipment, there are standard options for maintaining goods in a "cool" or "fresh" temperature range or a frozen temperature range. A "cold" range is frequently utilized for loads like fresh food or other perishable goods. Refrigerators occasionally transport dry goods that don't need to be refrigerated in their trailers. While transporting goods, there are a few important considerations. Reefer trucks are required for the long-distance transport of perishable and temperature-sensitive commodities. Fresh produce and frozen meats are the most typical examples.
Market Drivers
Transporting frozen food items over greater distances calls for refrigerated transportation methods to preserve product quality. To prevent deterioration and loss of original value, the food products being transported must be chilled. To reduce these hazards and safeguard customers, safe food handling practices and procedures are established across the whole food production life cycle. Packages that improve ease of use at home and on the go focus on convenience features. Frozen food packaging innovation continues to be driven by convenience features including simple opening, portability, and one-handed use for a variety of processed foods, including entrees, snacks, and even food service goods. Processed foods are convenient and simple to use because they need simple and flexible packing materials. Therefore, it is anticipated that increasing consumer demand for frozen meals will increase market demand. Frozen food products are being promoted more widely as a result of restaurants and supermarkets expanding more frequently. Due to lifestyle changes and decreased time, the use of frozen foods has significantly expanded since the COVID era. Delivery services for food saw tremendous growth but also presented new difficulties. For those ordering food from restaurants for delivery to their homes, trust in the handling of the food, delivery strategies, and demand for contactless transactions moved to the forefront.
Market Restraints
Both the expense of raw materials and the charges necessary to transport the completed goods are included in the air-conditioning system costs of the food vehicles. Industries with the intense competition are where manufacturing companies work. These businesses search for ways to reduce expenses to compete, which enables them to provide clients with reduced rates. The cost of the business is heavily influenced by the supply and demand of raw materials during the production process. Foods that have been heavily processed frequently have harmful amounts of fat, sodium, and sugar added. While using too many of these components can cause major health problems like obesity, heart disease, high blood pressure, and diabetes, they also improve the taste of the cuisine. To guarantee the safety of food from production to consumption, certain conditions and actions must be taken. Inadequate food hygiene can result in food-borne illnesses and even consumer death. Each year, millions of people throughout the world experience disease outbreaks brought on by consuming unsanitary food.
Impact of COVID-19
The COVID-19 epidemic put tremendous pressure on logistics and transportation, and demand also changed substantially. Road transport refrigeration has been significantly impacted by COVID-19 since the refrigeration industry as a whole was struggling with less inventory and increasing demand. Additionally, food was transported by road in refrigerated containers, primarily meat and dairy goods. Additionally, the shipping of refrigerated containers had reduced by 8.0%, according to the Organization for Economic Co-operation and Development (OECD), as a result of restrictions such as crew change caps, mandatory quarantines, and increased screening while in transit.
Recent Developments
Farrar Scientific, a pioneer in ultralow temperature management for biopharmaceutical and other life science applications, was bought by Trane Technologies in September 2021. The patented technology from Farrar Scientific fills a gap in the market for modular, effective, and versatile ultralow temperature storage and processes, including heating/thawing & cooling.
A subsidiary of the Mitsubishi Heavy Industries (MHI) Group called Mitsubishi Heavy Industries Thermal Systems, Ltd. proposes to introduce two new types of centralized power panels in July 2021 that would enable public CO2 heat pump water heaters and air conditioners to be controlled from a single console.
Market Segmentation
Global Truck Refrigeration Unit Market is segmented By Type, By Length, By Power Capacity, By Vehicle Type, By Application. By Types such as Split System And Roof Mount System. By Length such as < 8-Meter, 8-12-Meter, And >12-Meter. By Power Capacity such as Below 5 Kw, 5 Kw - 19 Kw, And Above 19 Kw. By Vehicle Types such as Light Commercial Vehicles (LCV), Medium & Heavy Commercial Vehicles, Trailer (Container), Bus, And Others. By Applications such as Chilled And Frozen. By Power Sources such as Engine Powered And Independent.
Regional Analysis
Global Truck Refrigeration Unit Market is segmented into five regions Americas, Europe, Asia-Pacific, and the Middle East & Africa. Due to expanding processed food consumption and greater spending on building out the cold supply chain across Canada and the United States, North America is predicted to hold the top spot in the industry. Additionally, to support the regional expansion of the market, trade agencies, organizations, and cold chain associations are concentrating on creating truck refrigeration networks through improved regulatory frameworks. The storage and shipping sectors of the cold chain business have several commercial opportunities in the Asia Pacific. Increased government initiatives and support for the road refrigeration sector, as well as rising customer demand for perishable items.
Key Players
This report includes a list of numerous Key Players, namely Mitsubishi Heavy Industries Thermal Systems, Ltd., Daikin Industries, Ltd., Carrier, Denso Corporation, Grayson, Sanden Corporation, Mobile Climate Control, Advanced Temperature Control, Zhengzhou Guchen Industry Co., Ltd., Trane Technologies Plc, Subros Limited, Klinge Corporation, Utility Trailer Manufacturing Company.
Market Taxonomy
By Type
• Split System
• Roof Mount System
By Length
• < 8-Meter
• 8-12-Meter
• >12-Meter
By Application
• Chilled
• Frozen
By Power Source
• Engine Powered
• Independent
By Power Capacity
• Below 5 Kw
• 5 Kw - 19 Kw
• Above 19 Kw
By Vehicle Type
• Light Commercial Vehicles (LCV)
• Medium & Heavy Commercial Vehicles
• Trailer (Container)
• Bus
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa.
Global Truck Refrigeration Unit Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Truck Refrigeration Unit Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing Economic Downturn
4.2.6 Post-Covid-19 World Supply and Demand Conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Truck Refrigeration Unit Market, By Type
5.1 Y-o-Y Growth Comparison, By Type
5.2 Global Truck Refrigeration Unit Market Share Analysis, By Type
5.3 Global Truck Refrigeration Unit Market Size and Forecast, By Type
5.3.1 Split System
5.3.2 Roof Mount System
6 Global Truck Refrigeration Unit Market, By Length
6.1 Y-o-Y Growth Comparison, By Length
6.2 Global Truck Refrigeration Unit Market Share Analysis, By Length
6.3 Global Truck Refrigeration Unit Market Size and Forecast, By Length
6.3.1 < 8-Meter
6.3.2 8-12-Meter
6.3.3 >12-Meter
7 Global Truck Refrigeration Unit Market, By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Global Truck Refrigeration Unit Market Share Analysis, By Application
7.3 Global Truck Refrigeration Unit Market Size and Forecast, By Application
7.3.1 Chilled
7.3.2 Frozen
8 Global Truck Refrigeration Unit Market, By Power Source
8.1 Y-O-Y Growth Comparison, By Power Source
8.2 Global Truck Refrigeration Unit Market Share Analysis, By Power Source
8.3 Global Truck Refrigeration Unit Market Size and Forecast, By Power Source
8.3.1 Engine Powered
8.3.2 Independent
9 Global Truck Refrigeration Unit Market, By Power Capacity
9.1 Y-O-Y Growth Comparison, By Power Capacity
9.2 Global Truck Refrigeration Unit Market Share Analysis, By Power Capacity
9.3 Global Truck Refrigeration Unit Market Size and Forecast, By Power Capacity
9.3.1 Below 5 Kw
9.3.2 5 Kw - 19 Kw
9.3.3 Above 19 Kw
10 Global Truck Refrigeration Unit Market, By Vehicle Type
10.1 Y-O-Y Growth Comparison, By Vehicle Type
10.2 Global Truck Refrigeration Unit Market Share Analysis, By Vehicle Type
10.3 Global Truck Refrigeration Unit Market Size and Forecast, By Vehicle Type
10.3.1 Light Commercial Vehicles (LCV)
10.3.2 Medium & Heavy Commercial Vehicles
10.3.3 Trailer (Container)
10.3.4 Bus
10.3.5 Others
11Global Truck Refrigeration Unit Market, By Region
11.1 Global Truck Refrigeration Unit Market Share Analysis, By Region
11.2 Global Truck Refrigeration Unit Market Share Analysis, By Region
11.3 Global Truck Refrigeration Unit Market Size and Forecast, By Region
12 North America Truck Refrigeration Unit Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 North America Truck Refrigeration Unit Market Share Analysis, By Type
12.3 North America Truck Refrigeration Unit Market Size and Forecast, By Length
12.4 North America Truck Refrigeration Unit Market Size and Forecast, By Application
12.5 North America Truck Refrigeration Unit Market Size and Forecast, By Power Source
12.6 North America Truck Refrigeration Unit Market Size and Forecast, By Power Capacity
12.7 North America Truck Refrigeration Unit Market Size and Forecast, By Vehicle Type
12.8 North America Truck Refrigeration Unit Market Size and Forecast, By Country
12.8.1 U.S.
12.8.2 Canada
12.8.3 Mexico
13EuropeTruck Refrigeration Unit Market Analysis and Forecast (2023-2030)
13.1 Introduction
13.2 Europe Truck Refrigeration Unit Market Share Analysis, By Type
13.3 Europe Truck Refrigeration Unit Market Size and Forecast, By Length
13.4 Europe Truck Refrigeration Unit Market Size and Forecast, By Application
13.5 Europe Truck Refrigeration Unit Market Size and Forecast, By Power Source
13.6 Europe Truck Refrigeration Unit Market Size and Forecast, By Power Capacity
13.7 Europe Truck Refrigeration Unit Market Size and Forecast, By Vehicle Type
13.8 Europe Truck Refrigeration Unit Market Size and Forecast, By Country
13.8.1 Germany
13.8.2 France
13.8.3 UK
13.8.4. Rest of Europe
14Asia Pacific Truck Refrigeration Unit Market Analysis and Forecast (2023-2030)
14.1 Introduction
14.2 Asia Pacific Truck Refrigeration Unit Market Share Analysis, By Type
14.3 Asia Pacific Truck Refrigeration Unit Market Size and Forecast, By Length
14.4 Asia Pacific Truck Refrigeration Unit Market Size and Forecast, By Application
14.5 Asia Pacific Truck Refrigeration Unit Market Size and Forecast, By Power Source
14.6 Asia Pacific Truck Refrigeration Unit Market Size and Forecast, By Power Capacity
14.7 Asia Pacific Truck Refrigeration Unit Market Size and Forecast, By Vehicle Type
14.8 Asia Pacific Truck Refrigeration Unit Market Size and Forecast, By Country
14.8.1 China
14.8.2 Japan
14.8.3 India
14.8.4. Rest of Asia Pacific
15Latin America Truck Refrigeration Unit Market Analysis and Forecast (2023-2030)
15.1 Introduction
15.2 Latin America Truck Refrigeration Unit Market Share Analysis, By Type
15.3 Latin America Truck Refrigeration Unit Market Size and Forecast, By Length
15.4 Latin America Truck Refrigeration Unit Market Size and Forecast, By Application
15.5 Latin America Truck Refrigeration Unit Market Size and Forecast, By Power Source
15.6 Latin America Truck Refrigeration Unit Market Size and Forecast, By Power Capacity
15.7 Latin America Truck Refrigeration Unit Market Size and Forecast, By Vehicle Type
15.8 Latin America Truck Refrigeration Unit Market Size and Forecast, Country
15.8.1. Brazil
15.8.2.Rest of Latin America
16 Middle East Truck Refrigeration Unit Market Analysis and Forecast (2023-2030)
16.1 Introduction
16.2 Middle East Truck Refrigeration Unit Market Share Analysis, By Type
16.3 Middle East Truck Refrigeration Unit Market Size and Forecast, By Length
16.4 Middle East Truck Refrigeration Unit Market Size and Forecast, By Application
16.5 Middle East Truck Refrigeration Unit Market Size and Forecast, By Power Source
16.6 Middle East Truck Refrigeration Unit Market Size and Forecast, By Power Capacity
16.7 Middle East Truck Refrigeration Unit Market Size and Forecast, By Vehicle Type
16.8 Middle East Truck Refrigeration Unit Market Size and Forecast, By Country
16.8.1. Saudi Arabia
16.8.2. UAE
16.8.3. Egypt
16.8.4. Kuwait
16.8.5. South Africa
17 Competitive Analysis
17.1 Competition Dashboard
17.2 Market share Analysis of Top Vendors
17.3 Key Development Strategies
18Company Profiles
18.1 Mitsubishi Heavy Industries Thermal Systems, Ltd.
18.1.1 Overview
18.1.2 Offerings
18.1.3 Key Financials
18.1.4 Business Segment & Geographic Overview
18.1.5 Key Market Developments
18.1.6 Key Strategies
18.2 Daikin Industries, Ltd.
18.2.1 Overview
18.2.2 Offerings
18.2.3 Key Financials
18.2.4 Business Segment & Geographic Overview
18.2.5 Key Market Developments
18.2.6 Key Strategies
18.3 Sanden Corporation
18.3.1 Overview
18.3.2 Offerings
18.3.3 Key Financials
18.3.4 Business Segment & Geographic Overview
18.3.5 Key Market Developments
18.3.6 Key Strategies
18.4 Mobile Climate Control
18.4.1 Overview
18.4.2 Offerings
18.4.3 Key Financials
18.4.4 Business Segment & Geographic Overview
18.4.5 Key Market Developments
18.4.6 Key Strategies
18.5 Advanced Temperature Control
18.5.1 Overview
18.5.2 Offerings
18.5.3 Key Financials
18.5.4 Business Segment & Geographic Overview
18.5.5 Key Market Developments
18.5.6 Key Strategies
18.6 Zhengzhou Guchen Industry Co., Ltd.
18.6.1 Overview
18.6.2 Offerings
18.6.3 Key Financials
18.6.4 Business Segment & Geographic Overview
18.6.5 Key Market Developments
18.6.6 Key Strategies
18.7 Trane Technologies Plc
18.7.1 Overview
18.7.2 Offerings
18.7.3 Key Financials
18.7.4 Business Segment & Geographic Overview
18.7.5 Key Market Developments
18.7.6 Key Strategies
18.8 Subros Limited
18.8.1 Overview
18.8.2 Offerings
18.8.3 Key Financials
18.8.4 Business Segment & Geographic Overview
18.8.5 Key Market Developments
18.8.6 Key Strategies
18.9 Klinge Corporation
18.9.1 Overview
18.9.2 Offerings
18.9.3 Key Financials
18.9.4 Business Segment & Geographic Overview
18.9.5 Key Market Developments
18.9.6 Key Strategies
18.10 Utility Trailer Manufacturing Company
18.10.1 Overview
18.10.2 Offerings
18.10.3 Key Financials
18.10.4 Business Segment & Geographic Overview
18.10.5 Key Market Developments
18.10.6 Key Strategies
