Press Release

Flourishing Cold Chain Industry to Drive Reefer Trucks Market

Growing population, urbanization and increasing cold chain infrastructure in various industries and growing number of cold storage warehouses coupled with rising demand of processed foods, to drive the Global Reefer Trucks Market through 2023

According to TechSci Research report, GlobalReefer Truck Market  by Reefer Truck Type (Light Duty and Medium & Heavy Duty), By Application (Dairy Products, Fruits & Vegetables, Meat & Fish, Confectionary Products, etc.), By Company, By Geography, Forecast & Opportunities, 2023’’, Reefer Trucks are mainly designed to carry consumable goods at specific temperatures. Dairy products, fresh fruits and vegetables requires cold storage and transportation for their sustainability. Moreover, most of the healthcare and pharmaceutical products need protection from light and heat to maintain their chemical formulation. Global Reefer Truck market is expected to grow at a CAGR of over 3%, in volume terms, over next 5 years, on the back of transportation of food, pharmaceuticals and healthcare products. Moreover, the demand for food products is also increasing across the globe which would further create demands for the reefer trucks during the forecast period.

Moreover, the growing regional trade of food products that can be easily perishable coupled with rising demand of refrigerated trucks for the transportation of frozen food products like frozen dairy, ice-cream, processed meat which require a constant temperature is expected to drive the growth of the Global Reefer Trucks market during forecast period.

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 Based on application, the Fruits and Vegetable segment leads the Global Reefer Trucks market owing to the increasing need for storing post-harvest produce at low temperatures to avoid wastage of fruits, vegetables and grains while long distance transportation. Moreover, the Pharmaceutical segment is anticipated to grow at a high CAGR by 2023, owing to the increasing demand of reefer trucks for the transport of medicines, injections and other medical devices to maintain their chemical formulations, ensure aseptic environments.

Mercedes-Benz, Volvo, MAN, Isuzu, Mitsubishi Fuso, Ashok Leyland, Eicher etc, are major companies operating in Reefer Trucks, globally.

North America leads the Reefer Trucks market in 2017, followed by Europe on the back of growing technological advancements and the favorable government regulations for the flourishing cold chain industry. The market in APAC is projected to grow at the highest rate between 2018 to 2023 due to the rapidly increasing population, growing consumption of fresh foods and frozen food items, coupled with the rising demand of cold chain logistics for minimizing the post-harvest wastage in the emerging agrarian economies like China and India.

“The flourishing the cold chain industry coupled with the rising popularity of frozen and processed foods among consumers are anticipated to drive the growth of the market in the coming years. Moreover, the increasing technological advancements by Reefer Truck manufacturers will drive the Reefer Trucks market through 2023.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Reefer Truck Market by Reefer Truck Type (Light Duty and Medium & Heavy Duty), By Application (Dairy Products, Fruits & Vegetables, Meat & Fish, Confectionary Products, etc.), By Company, By Geography, Forecast & Opportunities, 2023” has evaluated the future growth potential of Global Reefer Trucks market and provides statistics and information on market size, structure and future market growth. The report offers decision makers superior market intelligence, thereby enabling them conduct thorough investment appraisal. Besides, the report also analyzes the evolving market inclinations along with indispensable drivers, challenges and opportunities in Global Reefer Trucks Market.


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