The developing and underdeveloped countries have an underdeveloped cold-supply chain infrastructure which leads to destruction of a large quantity of food products every year. This also increases warehousing charges of the food manufacturers and the distributors as they have to maintain local distribution points in the area of demand. The growing population and increasing per capita income in these countries is boosting the demand for food products which is further creating demands for the refrigerated vehicles in these countries. The dairy product consumption in Asia Pacific countries have also been increasing to a great extent in recent times. The pharmaceutical and healthcare industries have also been growing at a rapid pace in these developing countries which is creating demand for the refrigerated vehicles in this domain as well. The shortage of skilled labor and unstable fuel prices are the key hurdles for the refrigerated vehicles market. The companies operating in the refrigerated vehicles market are improving the fuel efficiency and noise reduction of these vehicles.
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There have been several technology development and introduction in the recent times by the refrigerated vehicle manufacturers. They include CorroGuard and ThermGuard by Great Dane, Strip door solution for refrigerated trucks by R.O.M, GRIPTM by RTE, LED based indicator by Carrier, economical cold plates by Johnson, reefer monitoring system by PAR, reefer-trak sentry solutions by Star-Trak, Secureseal system by OEM Group, new alternator by Robert Bosch and Fleetview by Terion.
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Among regions, North America dominated global sales of refrigerated vehicles market, followed by Europe. There are a large number of market players in the refrigerated vehicles market which are operating in a particular country or globally through their subsidiaries. The global refrigerated vehicles market is fragmented however; it is increasingly advancing towards consolidation with a number of companies engaged in merger and acquisition activities.The key market players include Great Dane Trailers, Ingersol Rand Company Limited, Mitsubishi Heavy Industries Limited, Schmitz Cargobull, R.O.M., Thermo King, Carrier Transicold, Johnson, PAR, Star-Trak, GE, OEM Group, Robert Bosch, Terion, Northgate Plc and Fraikin Limited.
Key geographies evaluated in this report are:
- North America
- France, Germany, Italy, Spain, and the UK
- Eastern Europe
- Latin America
Key features of this report
- Drivers, restraints, and challenges shaping the Refrigerated Vehicles market dynamics
- Latest innovations and key events in the industry
- Analysis of business strategies of the top players
- Refrigerated Vehicles market estimates and forecasts(2015 -2021)
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