Global Truck Refrigeration Unit Market is valued approximately at USD 12671.75 million in 2022 and is anticipated to grow with a growth rate of more than 5.4% over the forecast period 2023-2030. Truck refrigeration systems are refrigerated/reefer vehicles equipped with mechanical refrigeration systems perform that perishable commodity at appropriate temperatures all the way to the point of sale. For LTL (less-than-truckload) shipment, general choices for sustaining goods in a "cool" or "fresh" temperature range or in a frozen temperature range are available. Factors such as increased demand for frozen food and fresh produce, customer desire for convenience, the expansion of supermarkets and quick-service restaurants, investments in smart city projects, and developments in refrigeration technology are driving the truck refrigeration unit market.
The pharmaceutical industry's demand for accurate temperature control during transportation is propelling the truck refrigeration unit market. These units ensure that pharmaceutical items, such as vaccines and pharmaceuticals, are stored and delivered at the appropriate temperatures to retain their efficacy and safety. According to Statista, the overall worldwide pharmaceutical market was predicted to be USD 1.48 trillion in 2022. This is a marginal gain from 2021, when the market was valued at USD 1.42 trillion. Additionally, huge demand for hygienic food products and food packaging and increasing investment in the food service sectors provides lucrative opportunities to the market. However, high cost associated with the energy-efficient AC system stifling market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Truck Refrigeration Unit Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to growing number of supply chain businesses also, the presence and availability of global brands and challenges faced by them due to intense or limited competition from local and domestic brands. Also, growing pharmaceutical industry in the region is anticipated to support the market growth. North America is expected to fastest growing significantly during the forecast period, owing to the worldwide deployment of vaccinations and pent-up demand for required and non-essential medical services, supportive government initiatives, and presence of key market players in the region.
Major market player included in this report are:
- Utility Trailer Manufacturing Company
- Denso Corporation
- Thermo King
- Carrier Global Corporation
- Subros Ltd Co.
- Webasto SE
- Mobile Climate Control
- Daikin Industries, Ltd.
- Sanden Corporation
- Klinge Corporation
Recent Developments in the Market:
- In August 2021, Thermo King has introduced the T-80E Series, the latest addition to their refrigerated truck lineup. This next-generation product offers improved control software and long-life electronic evaporator fans. The T-80E Series showcases Thermo King's commitment to innovation, sustainability, and customer satisfaction by delivering enhanced refrigeration capacity and precise temperature control.
- In December 2022, Thermo King, a leading transport refrigeration brand under Trane Technologies, has unveiled the TH-350, an ultra-thin electric refrigeration unit. This next-generation product from the THOR series offers exceptional cold chain logistics performance with its lightweight design, reliable performance, and user-friendly features.
Global Truck Refrigeration Unit Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, Length, Application, Power Source, Power Capacity, Vehicle Type, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
- Split System
- Roof Mount System
By Length:
- < 8-Meter
- 8-12-Meter
- >12-Meter
By Application:
By Power Source:
- Engine Powered
- Independent
By Power Capacity:
- Below 5 Kw
- 5 Kw - 19 Kw
- Above 19 Kw
By Vehicle Type:
- Light Commercial Vehicles
- Medium & Heavy Commercial Vehicles
- Trailer
- Bus
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
- 1.2.1. Truck Refrigeration Unit Market, by region, 2020-2030 (USD Million)
- 1.2.2. Truck Refrigeration Unit Market, by Type, 2020-2030 (USD Million)
- 1.2.3. Truck Refrigeration Unit Market, by Length, 2020-2030 (USD Million)
- 1.2.4. Truck Refrigeration Unit Market, by Application, 2020-2030 (USD Million)
- 1.2.5. Truck Refrigeration Unit Market, by Power Source, 2020-2030 (USD Million)
- 1.2.6. Truck Refrigeration Unit Market, by Power Capacity, 2020-2030 (USD Million)
- 1.2.7. Truck Refrigeration Unit Market, by Vehicle Type, 2020-2030 (USD Million)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Truck Refrigeration Unit Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Truck Refrigeration Unit Market Dynamics
- 3.1. Truck Refrigeration Unit Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing demand for frozen foods by consumers
- 3.1.1.2. Increasing growth of supermarkets and restaurants
- 3.1.2. Market Challenges
- 3.1.2.1. High Cost associated with the energy-efficient AC system
- 3.1.2.2. Growth in health concerns about the consumption of frozen fruit and vegetables
- 3.1.3. Market Opportunities
- 3.1.3.1. Huge demand for hygienic food products and food packaging
- 3.1.3.2. Increasing investment in the food service sectors
Chapter 4. Global Truck Refrigeration Unit Market: Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economic
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Truck Refrigeration Unit Market, by Type
- 5.1. Market Snapshot
- 5.2. Global Truck Refrigeration Unit Market by Type, Performance - Potential Analysis
- 5.3. Global Truck Refrigeration Unit Market Estimates & Forecasts by Type 2020-2030 (USD Million)
- 5.4. Truck Refrigeration Unit Market, Sub Segment Analysis
- 5.4.1. Split System
- 5.4.2. Roof Mount System
Chapter 6. Global Truck Refrigeration Unit Market, by Length
- 6.1. Market Snapshot
- 6.2. Global Truck Refrigeration Unit Market by Length, Performance - Potential Analysis
- 6.3. Global Truck Refrigeration Unit Market Estimates & Forecasts by Length 2020-2030 (USD Million)
- 6.4. Truck Refrigeration Unit Market, Sub Segment Analysis
- 6.4.1. < 8-Meter
- 6.4.2. 8-12-Meter
- 6.4.3. >12-Meter
Chapter 7. Global Truck Refrigeration Unit Market, by Application
- 7.1. Market Snapshot
- 7.2. Global Truck Refrigeration Unit Market by Application, Performance - Potential Analysis
- 7.3. Global Truck Refrigeration Unit Market Estimates & Forecasts by Application 2020-2030 (USD Million)
- 7.4. Truck Refrigeration Unit Market, Sub Segment Analysis
- 7.4.1. Chilled
- 7.4.2. Frozen
Chapter 8. Global Truck Refrigeration Unit Market, by Power Source
- 8.1. Market Snapshot
- 8.2. Global Truck Refrigeration Unit Market by Power Source, Performance - Potential Analysis
- 8.3. Global Truck Refrigeration Unit Market Estimates & Forecasts by Power Source 2020-2030 (USD Million)
- 8.4. Truck Refrigeration Unit Market, Sub Segment Analysis
- 8.4.1. Engine Powered
- 8.4.2. Independent
Chapter 9. Global Truck Refrigeration Unit Market, by Power Capacity
- 9.1. Market Snapshot
- 9.2. Global Truck Refrigeration Unit Market by Power Capacity, Performance - Potential Analysis
- 9.3. Global Truck Refrigeration Unit Market Estimates & Forecasts by Power Capacity 2020-2030 (USD Million)
- 9.4. Truck Refrigeration Unit Market, Sub Segment Analysis
- 9.4.1. Below 5 Kw
- 9.4.2. 5 Kw - 19 Kw
- 9.4.3. Above 19 Kw
Chapter 10. Global Truck Refrigeration Unit Market, by Vehicle Type
- 10.1. Market Snapshot
- 10.2. Global Truck Refrigeration Unit Market by Vehicle Type, Performance - Potential Analysis
- 10.3. Global Truck Refrigeration Unit Market Estimates & Forecasts by Vehicle Type 2020-2030 (USD Million)
- 10.4. Truck Refrigeration Unit Market, Sub Segment Analysis
- 10.4.1. Light Commercial Vehicles
- 10.4.2. Medium & Heavy Commercial Vehicles
- 10.4.3. Trailer
- 10.4.4. Bus
- 10.4.5. Others
Chapter 11. Global Truck Refrigeration Unit Market, Regional Analysis
- 11.1. Top Leading Countries
- 11.2. Top Emerging Countries
- 11.3. Truck Refrigeration Unit Market, Regional Market Snapshot
- 11.4. North America Truck Refrigeration Unit Market
- 11.4.1. U.S. Truck Refrigeration Unit Market
- 11.4.1.1. Type breakdown estimates & forecasts, 2020-2030
- 11.4.1.2. Length breakdown estimates & forecasts, 2020-2030
- 11.4.1.3. Application breakdown estimates & forecasts, 2020-2030
- 11.4.1.4. Power Source breakdown estimates & forecasts, 2020-2030
- 11.4.1.5. Power Capacity breakdown estimates & forecasts, 2020-2030
- 11.4.1.6. Vehicle Type breakdown estimates & forecasts, 2020-2030
- 11.4.2. Canada Truck Refrigeration Unit Market
- 11.5. Europe Truck Refrigeration Unit Market Snapshot
- 11.5.1. U.K. Truck Refrigeration Unit Market
- 11.5.2. Germany Truck Refrigeration Unit Market
- 11.5.3. France Truck Refrigeration Unit Market
- 11.5.4. Spain Truck Refrigeration Unit Market
- 11.5.5. Italy Truck Refrigeration Unit Market
- 11.5.6. Rest of Europe Truck Refrigeration Unit Market
- 11.6. Asia-Pacific Truck Refrigeration Unit Market Snapshot
- 11.6.1. China Truck Refrigeration Unit Market
- 11.6.2. India Truck Refrigeration Unit Market
- 11.6.3. Japan Truck Refrigeration Unit Market
- 11.6.4. Australia Truck Refrigeration Unit Market
- 11.6.5. South Korea Truck Refrigeration Unit Market
- 11.6.6. Rest of Asia Pacific Truck Refrigeration Unit Market
- 11.7. Latin America Truck Refrigeration Unit Market Snapshot
- 11.7.1. Brazil Truck Refrigeration Unit Market
- 11.7.2. Mexico Truck Refrigeration Unit Market
- 11.8. Middle East & Africa Truck Refrigeration Unit Market
- 11.8.1. Saudi Arabia Truck Refrigeration Unit Market
- 11.8.2. South Africa Truck Refrigeration Unit Market
- 11.8.3. Rest of Middle East & Africa Truck Refrigeration Unit Market
Chapter 12. Competitive Intelligence
- 12.1. Key Company SWOT Analysis
- 12.1.1. Company 1
- 12.1.2. Company 2
- 12.1.3. Company 3
- 12.2. Top Market Strategies
- 12.3. Company Profiles
- 12.3.1. Utility Trailer Manufacturing Company
- 12.3.1.1. Key Information
- 12.3.1.2. Overview
- 12.3.1.3. Financial (Subject to Data Availability)
- 12.3.1.4. Product Summary
- 12.3.1.5. Recent Developments
- 12.3.2. Denso Corporation
- 12.3.3. Thermo King
- 12.3.4. Carrier Global Corporation
- 12.3.5. Subros Ltd. Co.
- 12.3.6. Webasto SE
- 12.3.7. Mobile Climate Control
- 12.3.8. Daikin Industries, Ltd.
- 12.3.9. Sanden Corporation
- 12.3.10. Klinge Corporation
Chapter 13. Research Process
- 13.1. Research Process
- 13.1.1. Data Mining
- 13.1.2. Analysis
- 13.1.3. Market Estimation
- 13.1.4. Validation
- 13.1.5. Publishing
- 13.2. Research Attributes
- 13.3. Research Assumption