Refrigerated Truck Market report, market size, share, trends, analysis and forecast to 2030

Market Overview

The market price of the Refrigerated Truck Market is predicted to reach USD 5,836.80 million and a CAGR of 6.90% in the forecast period from 2022 – 2030.

A refrigerated truck or a reefer truck is a special form of goods transport vehicle made to carry goods and supplies that must maintain a specific temperature. A reefer is a refrigerated storage container connected to a semi-truck designed to transport a significant amount of perishable goods. Every year, there is a rise in the market need for these vehicles due to customer demand, thereby raising market growth. Other than the production of food and beverages, several organizations use reefer trucks.

Consumer demand is one of the main factors behind the expansion of the refrigerated truck market. Consumer expenditure per person has been steadily increasing in major regions over the past few years. The food and beverage business has experienced a gradual rise depending on those criteria. The packaged food and food processing industries have a significant impact on cold storage transport. 

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The expansion of healthcare and consumer goods industrial infrastructure is a good opportunity for the reefer truck business. Interstate transport becomes more efficient as road connections improve. A rising number of industries require cold chain supplies. Reefer trucking is benefited from a rise in home delivery of groceries and foodstuffs around the globe. The process can be made quick and efficient in many places with an increase in automobiles. The pharmaceutical sector is experiencing significant growth due to the COVID-19 outbreak. Future demands for reefer trucks will expand due to the increased transportation of important medical supplies such as vaccines, basic medicines, food supplements, and others.

Market segments

The Refrigerated Truck market has been divided into market tonnage capacity, type, and application.

Depending on the tonnage capacity, the Refrigerated Truck market is divided into more than 20 tons, 10 to 20 tons, and less than 10 tons.

Depending on the type, the Refrigerated Truck market is divided into Heavy Commercial vehicles (HCV), Medium Commercial vehicles (MCV), and Light Commercial vehicles (LCV).

Depending on the application, the Refrigerated Truck market is divided into Pharmaceuticals, Chemicals, Food, and beverages.

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Regional Analysis

The Refrigerated Truck market shows immense growth in regions like North America, the Middle East, Africa, South America, Europe, and Asia-pacific.

Globally, North America has the greatest market share for reefer trucks. The United States, in particular, is the primary driving force that drives cold chain transportation. A large range of trucks is employed by the growth of global fast food companies.

The Asia-Pacific region includes regions such as India, China, and Japan predicted to expand the global market at a high rate. Two important aspects that contribute overall rise of reefer trucks are the growing market for packaged foods and beverages and pharmaceuticals. The market is growing quickly due to the rising need for processed seafood and meat.

Industry News

In September 2022 – To create a refrigerated electric truck intended for last-mile deliveries, Bollinger Motors is collaborating with Wabash, a renowned truck body and trailer maker.

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Key Market Players: 

Kögel Trailer GmbH & Co.KG (Germany), Hyundai Translead. Inc. (US), Wabash National (US), Fahrzeugwert Bernard Krone Gmbh & Co.KG (Germany), China International Marine Containers (Group) Ltd. (China), GRW Tankers and Trailers (US), Lamberet SAS (France), Great Dane LLC (US), Chereau (France), Schmitz Cargobull AG (Germany)

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