Truck refrigeration units facilitates in controlling the temperature inside the container, enabling a trailer to cool or heat when it is needed. Increasing demand for frozen, processed goods are boosting the truck refrigeration unit market. Growing international food chains in developing nations increased the demand for truck refrigeration unit in emerging economies.
MARKET SCOPE
The "Global Truck Refrigeration Unit Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of truck refrigeration unit market with detailed market segmentation by type, application, industry vertical, vehicle type and geography. The report provides key statistics on the market status of the leading truck refrigeration unit market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- The global truck refrigeration unit market is segmented on the basis of type, application, industry vertical, and vehicle type.
- Based on type, the market is segmented as split system and roof mount system. On the basis of the application the market is segmented into frozen and chilled.
- Based on industry vertical the market is segmented as food & beverages, pharmaceuticals & chemicals, and ambulance & passenger transport.
- On the basis of vehicle type the market is segmented into trailers and medium & heavy commercial vehicles.
MARKET DYNAMICS
Drivers:
- Rapid increase in usage of frozen, processed food, chilled commodity.
- Need of transportation of perishable items, medicines, chemicals from factory/warehouse to retail shop.
Restraints:
- Growing concern over health issues related to frozen and processed food.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The truck refrigeration unit market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the truck refrigeration unit market in these regions.
IMPACT OF COVID-19 ON TRUCK REFRIGERATION UNIT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the truck refrigeration unit market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Truck refrigeration unit market market are anticipated to lucrative growth opportunities in the future with the rising demand for Truck refrigeration unit market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the truck refrigeration unit market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Carrier Corporation (United Technologies Corp.)
- Daikin
- Denso
- Klinge Corporation
- MITSUBISHI HEAVY INDUSTRIES, LTD.
- Mobile Climate Control
- Schmitz Cargobull
- Subros Limited
- Thermo King (Ingersoll Rand Plc.)
- Webasto Thermo & Comfort