A new Technavio report presents segmentation of the market by service type (refrigerated warehousing and refrigerated transportation) and geographical segmentation (Western Europe and South and Eastern Europe). The top six vendors in the market include Bring Frigo, Gruppo Marconi, Kloosterboer, MUK Logistik, Nichirei Logistics, and Partner Logistics.
Technavio presents an in-depth analysis of the cold chain market, with the publication of its new report, Cold Chain Market in Europe 2015-2019. With its refrigerated transportation segment gaining momentum, the cold chain market in Europe is expected to grow at a CAGR of around 12% between 2015 and 2019.
Western Europe occupies a major portion of the European cold chain market accounting to almost 70% of the market share, and is expected to reach over US $42 billion by 2019, followed by Southern and Eastern Europe. Strong economic environment and augmented global trade are predominantly driving the cold chain market in this region. The key contributors to the cold chain market in this region are France, Italy, the UK, Greece, and Spain.
Owing to highly advanced transport infrastructure in Europe, the demand for modern high-cube refrigerated trailers and vehicles with low fuel consumption favouring cross-product transportation, has increased. Furthermore, the adoption of multi-compartment refrigerated vehicles offering flexibility of transporting products, is speedily trending in the European cold chain market. Significant features to look out for in these vehicles are heat transfer between compartments, loading arrangements and method of temperature control.
Refrigerated Transportation Market in Europe 2014-2019 ($million)
Source: Technavio Research
“By reason of increased demand for cold chain logistics and continuous growth of the frozen food and online retail market, advanced packaging with high barrier properties has picked-up speed in the European cold chain market. Innovative packaging techniques have improved the shelf life of food products leading to their transportation to distant places Additionally, the vendors are adopting RFID and HACCP technologies to track and monitor the cold chain goods, reduce food wastage and consequent rejection of batch lots, says Sriram Mohan, Lead Analyst, Automotive, Technavio Research.
The top six vendors in the cold chain market in Europe are Bring Frigo, Gruppo Marconi, Kloosterboer, MUK Logistik, Nichirei Logistics, and Partner Logistics. Currently, these vendors operate with warehousing capacity of over 10 million cubic meters. These key vendors are providing value-added services including disaster recovery services, and web interfaces that enable tracking shipments throughout the supply chain.
This report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. There are many key drivers, challenges, and opportunities that are discussed in detail.
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