This market research report provides a detailed segmentation of the global refrigerated transportation market by product transported (food, pharmaceuticals and others) and by transportation mode (roadways, airways and seaways). It outlines the market shares for key regions such as APAC, Europe, North America, and ROW. The key vendors analyzed in this report are Carrier Transicold, CMA CGM, GAH Refrigeration, Maersk Line, Mediterranean Shipping Company, and Swift Transportation.
Technavio has released a new market research report on the global refrigerated transportation market, which is expected to grow at a CAGR of 7% between 2016 and 2020. Refrigerated transportation is used to supply customers with safe and high-quality perishable goods. It plays a major part in cold chain logistics. Growing demand for frozen foods and temperature-sensitive drugs have increased the demand for refrigerated logistics services. The refrigerated transportation of meat and meat products and dairy products are the major revenue-contributing segments in this market. North America dominates the global refrigerated transportation market, occupying around 37% of the overall market share. An increase in the demand for refrigerated products due to busy lifestyle is driving the market in North America.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The growing demand for healthy food products and pharmaceutical drugs is pushing the global refrigerated transport market to supply quick and efficient end-to-end services. This requirement has propelled refrigerated transportation service providers to offer multiple end-to-end integrated services to the end-users. A few of these services include inventory management, order scheduling, warehousing, and delivery management. Vendors are also providing disaster recovery services, which enable customers to track consignments and communicate with the entire supply chain,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research
The food segment dominates the global refrigerated transportation market, accounting for 47% of the total market share. The refrigerated food products that are transported in refrigerated containers include meat, seafood, milk and dairy products, vegetables and fruits, bakery and confectionery products, and controlled atmosphere condition products like grains and oilseeds. The use of software technologies such as GPS, radio frequency identification, trailer seals, electronic labeling, and biometrics are helping transportation providers maintain a balance in inventory levels and monitor temperature-sensitive products
Global refrigerated food transportation market 2015-2020 ($ billions)
Source: Technavio, 2016
The key players in the global refrigerated transportation market include Carrier Transicold, CMA CGM, GAH Refrigeration, Maersk Line, Mediterranean Shipping Company, and Swift Transportation. The market is characterized by the presence of many companies at the domestic and international levels. The local players have are offering products at reduced prices and innovative solutions for packaging. Intense competition prevails in this market among cold chain carrier operators and high demand for temperature-sensitive products.
A more detailed analysis is available in the Technavio report, Global Refrigerated Transportation Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
