LONDON--(BUSINESS WIRE)--The global refrigerated road transportation market is expected to grow by USD 2.40 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of about 5%.
For the Right Perspective & Competitive Insights- Request Free Sample Report on Pandemic Recovery Analysis
Read the 120-page report with TOC on "Refrigerated Road Transportation Market Analysis Report by Type (Refrigerated trailers and Refrigerated vans), Geography (APAC, North America, Europe, South America, and MEA), and the Segment Forecasts, 2020-2024". Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/refrigerated-road-transportation-market-industry-analysis
The refrigerated road transportation market is driven by the rising initiatives to promote the cold chain. In addition, the growth in demand for reefer containers from pharmaceutical industry is anticipated to boost the growth of the refrigerated road transportation market.
Many governments and international regulatory bodies across the world are introducing various regulations to ensure the safe transportation of food products and drugs. For instance, the WHO has formulated several guidelines for maintaining and managing international packaging and shipping of vaccines. Similarly, the United States Food and Drug Administration has formulated certain guidelines known as the Drug Supply Chain Security Act Implementation for the transportation of pharmaceutical products. Such guidelines have necessitated F&B and pharmaceutical companies to shift their focus toward the use of cold chain solutions such as refrigerated road transportation to maintain the purity of their products. Therefore, the introduction of various initiatives to promote cold chain logistics is expected to fuel the growth of the global refrigerated road transportation market during the forecast period.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
View market snapshot before purchasing
Major Five Refrigerated Road Transportation Companies:
Bay and Bay Transportation
Bay and Bay Transportation operates its business through segments such as Shippers, Drivers, and Carriers. The company offers refrigerated trucking solutions in its portfolio.
C.H. Robinson Worldwide Inc.
C.H. Robinson Worldwide Inc. operates its business through segments such as North American Surface Transportation, Global Forwarding, and All Other and Corporate. The company offers shipping of perishable and temperature-sensitive products in temperature-controlled refrigerated trucks.
Carrier Global Corp.
Carrier Global Corp. operates its business through segments such as HVAC, Refrigeration, and Fire & Security. The company offers trailer and truck refrigeration solutions under its subsidiary Carrier Transicold.
CRST International Inc.
CRST International Inc. operates its business through a unified segment. The company provides a wide range of refrigerated road transportation services.
Schenker AG
Schenker AG operates its business through segments such as Integrated rail system, DB Schenker, and DB Arriva. The company offers transportation services for transporting temperature-sensitive goods such as pharmaceuticals, meat and dairy products, fruits and vegetables, and general refrigerated perishable products.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform
Refrigerated Road Transportation Market Type Outlook (Revenue, USD Billion, 2020-2024)
- Refrigerated trailers
- Refrigerated vans
Refrigerated Road Transportation Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- APAC
- North America
- Europe
- South America
- MEA
Are you a start-up willing to make it big in the business? Grab an exclusive Report
Related Reports on Industrials Include:
Global Cold Chain Logistics Market for Pharmaceuticals Industry – Global cold chain logistics market for pharmaceutical industry by service (warehousing and VAS and transportation) and geography (North America, APAC, Europe, South America, and MEA).
Global Healthcare Logistics Market – Global healthcare logistics market by service (transportation and warehousing), product (pharmaceutical products and medical devices), and geography (North America, APAC, Europe, South America, and MEA).
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
