A trailer refrigeration unit is used to carryout fresh consignment at particular temperatures. Across several parts of globe, changing lifestyles and economic growth are indirectly benefiting trailer refrigeration unit market. The global trailer refrigeration unit market is projected to witness considerable growth during the forecast period due to increased demand for package food, rise in logistic business and wide use of trailer refrigeration unit in cold chain space. Increasing consumer demand for frozen and chilled foods has boosted the growth of quick service restaurants such as Dominos, KFC, McDonald’s and super markets, which increases the trailer refrigeration market. To fulfill consumers’ expectations, manufacturers, dealers and retailers demands trailer refrigeration unit for transportation of products. In addition, the rising imports and exports activities of products is foreseen to bolster the trailer refrigeration unit market over the forecast period.
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Trailer Refrigeration Unit Market: Dynamics
The global trailer refrigeration unit market is mainly driven by the increasing demand for chilled and frozen products. In addition, increasing sales of commercial vehicles plays an important role to drive the trailer refrigeration unit market. The rising urbanization along with increasing middle class population demands for ready-to-eat food drives the trailer refrigeration unit market. Rising number of women in workforce is leading to an increase in the demand for ready-to-eat food, which drives the trailer refrigeration unit market. In addition, the increasing applications of trailer refrigeration unit in cold chain space drives the market growth. Since high food wastage has increased the attention of government on cold chain capacity, the government support and expansion of cold chain capacity are expected to boost the trailer refrigeration unit market growth during the forecast period. However, the cabin comfort norms act as restraints for trailer refrigeration unit market, mainly in developed regions. In addition, the health concerns regarding consumption of frozen fruits and vegetables is a major challenge for global trailer refrigeration unit market.
Trailer Refrigeration Unit Market: Key Players
The key players of global trailer refrigeration unit market are as follows:
- Wabash National Commercial Trailer Products
- Schmitz Cargobull AG
- Randon Implementos
- Kogel Trailer GmbH & Co. KG
- Montracon Ltd.
- Great Dane Trailers, Inc.
- Utility Trailer Manufacturing Company
- Gray and Adams Ltd
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The research report presents a comprehensive assessment of the global trailer refrigeration unit market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The global trailer refrigeration unit market report provides analysis and information according to market segments such as product type, by end user, applications.
Trailer Refrigeration Unit Market: Regional Outlook
The global trailer refrigeration unit market is segmented into seven regions: North America (USA, Canada), Latin America (Brazil, Mexico and Rest of Latin America), Europe (Germany, UK, France, Russia and Spain), Middle East and Africa (GCC Countries, Africa and Rest of MEA), East Asia (Japan, South Korea, China), South Asia (India, Malaysia, Indonesia and Rest of South Asia) and Oceania (Australia, New Zealand). Among the above-mentioned regions, the East Asia and South Asia regions are projected to lead the trailer refrigeration unit market during the forecast period due to presence of countries such as India, China and Japan, which have a considerable consumption of frozen and chilled products. The North America region provides a large market for trailer refrigeration unit market. Followed by North America, Europe region is projected to contribute trailer refrigeration unit market during the forecast period due to advancement in technologies and forcing of government regulation in order to transport food safely. The Oceania and MEA regions will provide a moderate market to trailer refrigeration unit during the forecast period.
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