As the world becomes increasingly interconnected, the need for efficient and reliable refrigerated transport has become more crucial than ever. With the global food industry expanding rapidly, the demand for temperature-controlled logistics has skyrocketed, creating a lucrative market opportunity for businesses operating in the refrigerated transport sector.
According to industry reports, the refrigerated transport market is poised to experience substantial growth in the coming years, with an expected compound annual growth rate (CAGR) of 7.2%. This growth trajectory is expected to result in the market's revenue reaching a staggering USD 160.7 billion by the end of 2027, presenting a significant opportunity for industry players to capitalize on.
As the world continues to grapple with issues related to climate change and global food security, the importance of reliable and efficient refrigerated transport solutions cannot be overstated. The growth of this market is not just a testament to the increasing demand for temperature-controlled logistics but also a reflection of the critical role that this industry plays in enabling the safe and timely delivery of perishable goods to people around the world.
The refrigerated transport market is experiencing a remarkable upswing, highlighting the crucial role of temperature-controlled logistics in the safe transportation of perishable goods. This trend also points to a bright future for businesses operating in this sector, made possible by the transformational impact of technology on food safety, waste reduction, and environmental sustainability. As society becomes increasingly conscious of the need to reduce carbon footprint and noise pollution, refrigerated vehicle manufacturers are harnessing cutting-edge technologies to create efficient and eco-friendly solutions. These innovations are not only fueling market growth but are also addressing urgent global issues, such as food security and climate change. The industry's progress exemplifies the transformative power of innovation and technology in driving positive change.
Here are some of the key trends in the refrigerated transport market:
Increasing Demand for Perishable Goods: The demand for perishable goods, such as food and pharmaceuticals, is on the rise due to an increase in population, changing consumer preferences, and growing healthcare needs. This has led to an increased demand for refrigerated transport to ensure the safe and timely delivery of these products.
Advancements in Technology: Technological advancements have revolutionized the refrigerated transport industry, leading to improved refrigeration systems, telematics, and tracking and monitoring systems that enable better temperature control, real-time visibility, and reduced wastage.
Growing Need for Sustainability: The focus on sustainability has led to a shift towards eco-friendly refrigeration solutions, such as the use of alternative fuels, solar-powered refrigeration systems, and other energy-efficient technologies.
Increasing Cross-Border Trade: The growth of international trade has led to an increase in cross-border transportation of perishable goods. This has resulted in the need for sophisticated logistics networks that can handle the complex regulatory and documentation requirements associated with cross-border transportation.
Growing Adoption of Outsourced Logistics Services: Many companies are outsourcing their logistics operations to third-party logistics providers, leading to an increased demand for refrigerated transport services. This trend is driven by the need for cost savings, flexibility, and access to specialized expertise.
According to MarketsandMarkets, the refrigerated transport market is estimated to be valued at USD 15.5 billion in 2019 and is projected to reach USD 21.6 billion by 2025, recording a CAGR of 5.8% from 2019 to 2025.
The growing demand for frozen food due to the increasing urbanization and changing lifestyle are factors projected to drive the market for refrigerated transport.Refrigerated transport services are gaining importance in the food industry due to the increasing demand for processed foods at a global level.
Developing countries such as India and Brazil are projected to create lucrative opportunities for frozen and chilled food manufacturers and service providers of refrigerated transport in the coming years.Make an Inquiry:https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=779494Service providers are looking for new strategies to select transport modes with a view to cutting costs and increasing supply chain efficiency.
Currently, intermodal transport is increasingly used in the food & beverage industry.
Refrigerated railroad cars save considerable fuel and carry high volumes of perishable commodities than cargos over long distances.
Multi-temperature compartments are similar to single-temperature compartments and use control and monitoring systems that assess the temperature of the refrigerated environment at regular intervals.
