Saudi Arabia Cold Chain Equipment Market is expected to be dominated by the Storage Equipment segment
One
of the most compelling drivers behind the rise of the Cold Chain Equipment
Market is the Rise in Pharmaceutical and Healthcare Industry Growth.
According
to TechSci Research report, “Saudi Arabia Cold Chain Equipment Market - By
Region, Competition, Forecast & Opportunities, 2028”. The Saudi Arabia
Cold Chain Equipment Market is expected to grow with a CAGR of 5.97% during the
forecast period. The main driving forces behind the growth of the Saudi Arabia
cold chain market are the rising demand for processed food products and the expansion
of the retail and e-commerce sectors in the country. These factors suggest that
the market value of the country's Cold Chain Equipment market is expected to
increase at a healthy CAGR in the upcoming years.
The
expansion of organized food retail as well as the increase in perishable food
production and consumption in the country are driving the demand for cold
chains. The majority of organised retail businesses are constructing sizable
cold chain infrastructures to manage their supply chains effectively.
Additionally, the region's rising taste for processed food items and move
toward the production of fruits and vegetables over grain crops both
considerably contribute to the industry's expansion.
The
area is experiencing substantial growth in the demand for high-quality items as
a result of rising consumer disposable income and an expanding middle-class
population. The expansion of the sector in India is further aided by the
country's rapid urbanisation and expanding industrialization. The government's
aim to build numerous mega food parks in addition to its favourable laws is
giving the industry even more of a boost. The healthcare sector's increasing
need for efficient cold chain facilities to preserve heat-sensitive goods
including vaccines, biopharmaceuticals, and clinical trial materials, among
others, is driving the industry's expansion. The vaccines, biopharmaceutical,
and clinical trials industries in many regions are anticipated to increase, and
this will lead to substantial demand in the market over the forecast period.
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The
fruits & Vegetables and dairy products Expected to Witness Significant
Growth in the Market, these goods need a certain temperature for storage and
transit because the majority of them are perishable and temperature sensitive.
As a result, it is anticipated that the Cold Chain Equipment industry is
expected to grow in the upcoming years.
During
the forecast period, Riyadh is expected to grow the most. The Riyadh to
Dominate has established itself as the leader in the Saudi Arabia Cold Chain
Equipment Market with a significant revenue share in 2022. Riyadh is
estimated to be the fastest-growing regional market from 2020 to 2028. This is
due to increasing government investments for Cold Chain Equipment
infrastructure development, Moreover, factors like increased foreign direct
investments in the healthcare sector, and the promotion of pharmaceutical
industries are boosting the market growth for the pharmaceuticals sector in the
Riyadh region.
Key market
players in the Saudi Arabia Cold Chain Equipment Market include:
- Americold
Logistics, LLC
- Burris
Logistics
- Cold
Box
- Conestoga
Cold Storage
- Congebec
- Lineage
Logistics Holding, LLC
- Nichirei
Corporation
- Tippmann
Group
- United
States Cold Storage
- VersaCold
Logistics Services
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It
consists of a wide range of devices, including freezers, refrigerators, cold
rooms, temperature sensors, data loggers, and monitoring systems. These devices
are designed to maintain a constant temperature within a predetermined range
and to offer real-time information regarding temperature variations, which is
essential for making sure that items continue to be secure and
efficient.Effective cold chain equipment is required to preserve the quality
and safety of these perishable goods due to the rising demand for fresh
produce, seafood, meat, and dairy products.Similar to the food and beverage
industry, the pharmaceutical and healthcare industry relies significantly on
cold chain equipment to store and ship temperature-sensitive medical supplies
including vaccines and medications.
“The
modernization of logistics has assisted the growth of the refrigerated
logistics sector. The demand for Cold Chain Equipment increased unexpectedly in
India countries between 2020 and 2021. The need for cold storage and
transportation has risen because of the growing urban population and changing
customer preferences. Overall, it is anticipated that India's cold chain
capacity would expand steadily over the future years and increase at a very
high CAGR throughout the projected period. The market is expected to organise
itself better and engage in more institutional investment. Built-to-suit assets
with improved architectural requirements, variety in cold storage products
catering to higher-value commodities, and usage of sustainable solutions for
lowering operational costs are possible future trends in this industry.
Therefore, these factors are fuelling the market growth of the “India Cold
Chain Equipment market in the upcoming years,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based Global management consulting
firm.
“Saudi
Arabia Cold Chain Equipment Market Segmented By Equipment Type (Storage
Equipment, Transportation Equipment), By Application (Seafood, Meat, Fruit
& Vegetable, Dairy Products, Alternative Protein, Others), By Region,
and By Competition, 2018-2028”, has
evaluated the future growth potential of Saudi Arabia Cold Chain Equipment
Market and provides statistics and information on market structure, size,
share, and future growth. The report is intended to provide cutting-edge market
intelligence and help decision-makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the Saudi Arabia
Cold Chain Equipment Market.
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