Refrigerated equipment market poised for growth

The global refrigerated trailer market is expected to grow at an annual rate of 4.4 per cent until 2021, according to a new report by Persistence Market Research.

“The expansion of cold chains and increases in the capital expenditure of logistics companies are the major factors driving the refrigerated trailer market,” the report found.

“However, the increasing operational cost of trucks, proximity to transportation destinations, and inadequate infrastructural and governmental prowess in emerging economies are some of the challenges that are slowing the growth of this market.”

Persistence also found that the main revenue driver of the segment is the meat and sea-food industry, accounting for 32.6 per cent of the total refrigerated equipment market in 2014.

By 2021, that share is expected to drop to 31.7 per cent, according to the New York company.

“Region-wise … North America stood as the largest market for refrigerated trailers in 2014 and held 30 oer cent of the overall market.

“Western Europe stood second with a share of more than 27 per cent in the market, trailed by Asia Pacific. In the coming years, Asia Pacific will be the fastest growing regional segment of the market.”

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