The reefer truck is a refrigerated vehicle with the refrigeration unit on the trailer or built directly on the frame. The reefer truck is a van or truck and is used to transport freight that is perishable in nature.
Rising consumer demand and increase in spending power among
consumers is boosting the demand for food & beverages, which in turn is
driving the reefer
truck market. Expansion of food processing and packaged food
sectors and their increased demand have boosted cold chain transport and in
turn the reefer truck market. Rising trend of doorstep or last-mile delivery of
groceries and frozen food has boosted the demand for reefer trucks. Improved
road connectivity and infrastructure and expansion of the healthcare industry
in developing countries are expected to boost the sales of reefers trucks in
these countries. Advent of e-commerce portals delivering dairy, meat, and
groceries has propelled the reefer truck market. The supply chain network in
Africa and Latin America is expected to expand and thus boost the reefer truck
market in these regions.
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The global reefer truck market can be segmented based on
vehicle type, end-use industry, and region. Based on vehicle type, the reefer
truck market can be classified into light and medium duty reefer truck and
heavy duty reefer truck. The light and medium duty reefer truck segment
accounted for a notable share of the reefer truck market. Light duty
refrigerated vans are employed extensively by SMEs for last-mile transport and
hence, contribute to the prominent market share. Light and medium duty reefer
trucks are robust and utilized for end-to-end delivery. Consequently, the
segment is expected to gain share of the global reefer truck market during the
forecast period.
Based on end-use industry, the reefer truck market can be
split into food & beverage and pharmaceutical. The food & beverage
segment accounts for a prominent share of the global market, due to cold chain
transport of perishable food products. Road connectivity between rural and
urban areas has improved the supply chain of dairy commodity, which in turn is
propelling the sales of reefer trucks. Pharmaceutical drugs that are sensitive
to temperature are transported by reefer trucks. Developments in medicines and
expansion of the healthcare industry are expected to boost the pharmaceutical
segment of the market during the forecast period.
In terms of geography, the global reefer truck market can be
segmented into North America, Europe, Asia Pacific, Latin America and Middle
East & Africa. The market in Asia Pacific is projected to expand at a
significant growth rate during the forecast period. Rising demand for fresh
vegetable supplies, improvement in infrastructure are expected to boost the
reefer truck market in the region. North America and Europe are major market
for reefer trucks, and the market in these regions is expected to expand at a
steady pace during the forecast period owing to the rising demand for frozen
foods
Key players operating in the global reefer truck market
include Kogel Trailer GmbH & Co., KG, Hyundai Translead Inc., Wabash
National Corporation, KRONE, GRW Tankers and Trailers, Schmitz Cargobull AG,
Great Dane LLC, and China International Marine Containers (Group) Ltd.
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