Refrigerated Trailer Market Is Estimated To Witness High Growth Owing To Increasing Demand For Cold Chain Solutions

 

The global refrigerated trailer market is estimated to be valued at US$4,200 million in 2022 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

Refrigerated trailers are specially designed trailers that are used for transporting perishable goods such as food and pharmaceutical products. They are equipped with refrigeration units that help maintain the required temperature inside the trailer, ensuring the freshness and quality of the transported goods. These trailers play a crucial role in the cold chain logistics industry, which is essential for preserving the integrity of temperature-sensitive products during transportation. The increasing demand for cold chain solutions to meet the growing consumer demand for fresh and high-quality products is driving the growth of the refrigerated trailer market.

B) Market Key Trends:

One key trend driving the Refrigerated Trailer Market is the growing adoption of electric refrigeration systems. With the rising focus on sustainability and reducing carbon emissions, there is a shift towards electric-powered refrigeration units in trailers. Electric refrigeration systems offer several benefits over traditional diesel-powered systems, including lower operating costs, reduced carbon footprint, and quieter operation. For example, Kogel Trailer GmbH & Co. KG introduced its electric refrigerated trailer, which eliminates the need for diesel fuel and reduces greenhouse gas emissions.

C) PEST Analysis:

- Political: Governments worldwide are implementing regulations and standards to ensure the safe transportation of perishable goods. These regulations aim to maintain the quality and safety of products during transit.

- Economic: The growth of e-commerce and online grocery shopping has increased the demand for refrigerated trailers. The convenience of doorstep delivery has fueled the need for efficient cold chain logistics, driving the market growth.

- Social: Changing consumer preferences and an increasing focus on healthy and fresh food have created a demand for products that require temperature-controlled transportation.

- Technological: Advancements in refrigeration technology, such as improved insulation materials, smart monitoring systems, and temperature control solutions, have enhanced the efficiency and reliability of refrigerated trailers.

D) Key Takeaways:

- The global refrigerated trailer market is expected to witness high growth, exhibiting a CAGR of 5.5% over the forecast period. The increasing demand for cold chain solutions and the growth of e-commerce are the key drivers of market growth.

- North America is the fastest-growing region in the refrigerated trailer market, owing to the well-established cold chain infrastructure and the presence of major players in the region.

- Key players operating in the global refrigerated trailer market include Kogel 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.

In conclusion, the refrigerated trailer market is experiencing significant growth due to the increasing demand for cold chain solutions driven by changing consumer preferences and the growth of e-commerce. The adoption of electric refrigeration systems and advancements in technology are further contributing to the market's growth. With North America leading the way, the key players in this market are focusing on innovation and expanding their product offerings to meet the evolving needs of the industry.