Refrigerated Trailer Market Size Analysis, Trends, Top Manufacturers, Share, Growth, Statistics, Opp

Author: Avi Pasalkar

Market Overview

A refrigerated truck or refrigerated trailer or also referred to as chiller lorry is a truck designed to transport perishable goods at specific temperatures. Generally, food-grade freight is transported through these trailers. Refrigerated trailers are available in two different ranges namely negative temperature range for carrying frozen food products and positive temperature range for chilled ones. Moreover, a variety of refrigerated trailers are available that are based on parameters such as load capacity, pallet capacity, length, and a number of deck. Refrigerated trailers in used transportation of perishable products such as fish, meat, vegetables, fruits, flowers, dairy products, and poultry products. Moreover, they are used to transport specialized medications that require specific temperature ranges.

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The global refrigerated trailer market is estimated to account for US$ 1,801.00Mn in 2019 is expected to exhibit a CAGR of 5.4% during the forecast period.

Market Dynamics- Drivers

Expansion of cold chain capacity is expected to drive growth of the global refrigerated trailer market during the forecast period

Increasing demand for perishable food across the globe is expected to boost the demand for cold chain in the near future. This expansion is expected to boost the demand for efficient refrigerated food transportation and cold storage infrastructure. Furthermore, growing demand for dairy products is expected to boost growth of the global refrigerated trailer market during the forecast period. According to the U.S. Department of Agriculture, in 2019, annual milk production in the U.S. reached 218,322 mil lb., increased from 215,527 mil lb. in 2017. Moreover, according to Our World in Data, an online publication journal, global milk production reached 800 million ton in 2018.

Implementation of strict government laws is expected to propel the global refrigerated trailer market during growth over the forecast period

Government of various countries in Asia Pacific such as China and India are focused on improving food preservation and transportation, lower food wastage, and increase food safety. Thus, they have started to implement strict regulatory policies and norms in food and beverage sector. This, in turn, is expected to boost the demand for efficient refrigerated trailers in these countries, as there is high demand for perishable food and dairy products in this region. Hence, these factors are expected to support the global refrigerated trailer market in the near future.

Europe region dominated the global refrigerated trailer market in 2019, accounting for 40.1% share in terms of value, followed by North America and Asia-Pacific, respectively.

Market Opportunities

Increasing investments in research and development activities can provide major growth opportunities for market players

Hike in fuel prices, increasing truck prices, and high cost associated with truck drivers hiring has increased the operational costs. Thus, various refrigerated truck manufacturers are focused on research and development activities, in order to manufacture reduced weight vehicles. Providing novel refrigerated trucks with moderate prices can aid OEMs to expand their consumer base and gain a competitive edge in the market. The newer vehicles will help in reducing carbon emission and enhance fuel efficiency, which are major drawbacks of previous vehicles.

Favorable macro-economic factors and changing demographics

Rampant urbanization, especially in emerging economies, coupled with growing middle-class population density is transforming economies across the globe. This, in turn, has increased the tendency of populace to consumers more perishable products such as fruits, vegetables, meat, and seafood. Furthermore, increasing demand for perishable food is expected to provide major growth opportunities during the forecast period.

Key features of the study:

  • This report provides an in-depth analysis of the global refrigerated trailer market and provides market size (US$ million & thousand units) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global refrigerated trailer market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global refrigerated trailer market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global refrigerated trailer market.

Detailed Segmentation:

Global Refrigerated Trailer Market, By Product Type:

  • Frozen
  • Chilled

Global Refrigerated Trailer Market, By End-use Industry:

  • Dairy
  • Fruits & Vegetables
  • Meat & Seafood
  • Others (Medicines, Bakery, etc.)

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Competitive Section

Key players operating in the global refrigerated trailer market are Kögel Trailer GmbH & Co. KG, Wabash National Commercial Trailer Products, Randon Implementos, Great Dane Trailers, Inc., Gray & Adams Ltd., Utility Trailer Manufacturing Company, Hyundai Translead, Montracon Ltd., Schmitz Cargobull AG, Lamberet Refrigerated SAAS, and Fahrzeugwerk Bernard KRONE GmbH.

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