Reefer Truck Market Scope
Reefer Trucks are primarily designed to carry consumable goods at specific temperatures. Reefer trucks are ice cooled, equipped with a variety of mechanical refrigeration systems. These systems are powered by small displacement diesel engines and carbon dioxide employed as a cooling agent. These trucks are mainly used to carry pharmaceutical and healthcare products, as they need protection from heat to maintain chemical formulations. It is also extensively used to carry goods such as dairy, meat, fruits, and vegetables, among others.
According to AMA, the Global Reefer Truck market is expected to see growth rate of 9.0%
The market is highly competitive, as manufacturers are constantly improving their product portfolio. The companies are witnessing rapid demand from emerging economies, and hence they are expanding new manufacturing plants in order to increase production capacity. Some of the giant manufacturers of reefer trucks are China International Marine Containers (Group) Co., Ltd., Schmitz Cargobull AG, LAMBERET SAS, Wabash National Corporation, among others. Research Analyst at AMA estimates that Germany Manufacturers will contribute to the maximum growth of Global Reefer Truck market throughout the predicted period.
China International Marine Containers (Group) Co., Ltd. (China), Schmitz Cargobull AG (Germany), LAMBERET SAS (France), Wabash National Corporation (United States), Jean CHEREAU S.A.S. (France), Hyundai Translead (United States), HKgel Trailer GmbH & Co. KG (Germany), KRONE GMBH & CO. KG (Germany), GRW Tankers and Trailers (South Africa) and Great Dane LLC (United States) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Reefer Truck market by Type (Light Duty and Medium & Heavy Duty), by Application (Dairy Products, Fruits & Vegetables, Meat & Fish, Confectionary Products and Others) and Region with country level break-up.
On the basis of geography, the market of Reefer Truck has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Recently, Schmitz Cargobull has invested 100 Million € for the Vreden factory. This investment is for the expansion of business and to strengthen its production of refrigerated vehicles. Due to this investment, the company will produce 100 refrigerated vehicles per day instead of 76.
The STHAF arose out of the Sanitary Food Transportation Act of 2005 and Food Safety and Modernization Act of 2011. The STHAF addresses preventive principles for keeping food uncontaminated, safe, and unadulterated during transportation. It is important to note that the rule is designed to address and maintain the SAFETY of food, not to ensure the quality of freshness.
- Increasing International Trade of Perishable Commodities
- Technological Innovations in Refrigerated Systems and Equipment
- Increased Demand for Frozen Perishable Commodities
- Increase in the Use of Advanced Cold Rooms
- The Rising Demand From Emerging Economies
- Rising Fuel Costs and High Capital Investment Requirement
- Lack of Transport Infrastructure Support in Emerging Markets and Skilled Resources in Developed Markets
Key Target Audience
Technology investors, Governments and financial institutions, End users of Reefer Truck, Research organizations and consulting companies., Research Institutes, Associations, organizations, forums, and alliances related to Reefer Truck., Reefer Truck Manufacturing Companies, Industry associations and Market research and consulting firm.