Global Reefer Truck Market to Grow at 9% until 2023 | TechSci Research

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I n d u s t r y B r i e f Reefer Truck Market to Grow at 9% until 2023: TechSci Research According to TechSci Research report, “Global Reefer Truck Market By Vehicle Type, By Application Type, By Region, Competition, Forecast & Opportunities, 2013 - 2023”, the global reefer truck market is projected to grow at a CAGR of more than 9% on account of surging demand for fresh food as people are becoming more health conscious and growing restaurants and retail store businesses across the globe. Moreover, consumers across the globe are getting more concerned about food safety and standards, which is positively influencing global reefer trucks market. Additionally, increasing research and development on food transport, backed by various joint ventures and investments by leading companies in fresh fruits, vegetables and meat items is further anticipated to compliment the global reefer truck market during the forecast period.. In 2017, L&MCV reefer truck dominated the global reefer truck market with over two-third of the volume share. A large demand for reefer trucks emanates from North America owing to massive growth of e-commerce for last mile delivery and comparatively higher health awareness in the region. However, Asia-Pacific is anticipated to witness the fastest growth in the market due to rising per capita income and growing consumption. Some of the major players operating in the global reefer truck market include Schmitz Cargobull AG, Wabash National Corporation, CHEREAU, Kögel, and CIMC, among others. These players are expanding their presence and working on more technologically advanced and affordable reefer trucks to expand their market share. Furthermore, increasing investments and continuous product development by automotive companies in the temperature control unit is also anticipated to compliment the global reefer truck market. “Demand for reefer trucks is growing owing to rising demand from restaurants and supermarkets across the globe, coupled with rising demand for unique food items, such as Solomon fish, Australian buffalo milk, etc. Moreover, stringent government regulations across various countries on food supply and distribution to ensure food safety with respect to freshness and quality is further driving demand for reefer trucks, globally. Additionally, many ongoing research and development projects such as use of solar panel in refer trucks, telematics service, etc., would further steer the global reefer truck market during forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. 30 30 © TechSci Research © TechSci Research
CAGR (2018E-2022F) S a m p l e D a t a - S n a p s h o t Figure 31: United States Organic Food Market Size, By Value (USD Million), 2013-2017 Figure 28: North America Reefer Truck Market Attractiveness Index, By Country, By Volume, 2018E-2023F 8.00% Mexico 6.00% 4.00% United States Canada 2013 2014 2015 2016 2017 Figure 49: Mexico Organic Food Market Share, By Value, 2017 2.00% 0.00% Figure 114: France Organic Food 0.00 0.50 1.00 1.50 2.00 Market Share, By Value, 2017 Low Medium High 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% Figure 1: Global Reefer Truck Market - Factors Influencing Purchase Decision 50.00% 50.00% 50.00% 50.00% (N=xx) Price Figure 40: Canada Reefer Truck Market Share, By Vehicle Type, By Volume, 2013-2023F 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% Cooling & load bearing capacity Performance After sales Service 2013 2014 2015 2016 2017 2018E 2019F 2020F 2021F 2022F 2023F L&MCV HCV Brand 31 © TechSci Research
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Global Reefer Truck Market to Grow at 9% until 2023 | TechSci Research

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