DUBLIN–(BUSINESS WIRE)–The “Refrigerated Goods Trucking Global Market Opportunities And Strategies To 2030, By Vehicle Type, Temperature, Application” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists; marketers and senior management with the critical information they need to assess the global refrigerated goods trucking market as it emerges from the COVID 19 shut down.
The global refrigerated goods trucking market is expected to grow from $ 46,204.3 million in 2015 to $ 55,939.5 million in 2020 at a growth rate of 3.9%. The market is expected to grow at a CAGR of 4.3% from 2020 to reach $ 69,131.6 million in 2025. The global refrigerated goods trucking market is expected to reach $ 80,618.3 million in 2030, at a CAGR of 3.1%.
Companies Mentioned
- Prime Inc.
- Stevens Transport
- Knight-Swift Transportation Holdings Inc.
- C.R. England
- Marten Transport Ltd.
- China International Marine Containers
- Great Dane
- Schmitz Cargobull AG
- Shaffer Trucking
- KLLM Transport Services
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This report describes and evaluates the global refrigerated goods trucking market. It covers three five years’ period, including, 2015 to 2020, termed the historic period, 2020 – 2025 forecast period and 2025 -2030 the forecast period.
Growth in the historic period resulted from increasing demand for perishable foods, strong economic growth in emerging markets, low oil prices and taxation. Factors that negatively affected growth in the historic period were stringent regulations and political uncertainties. Going forward, growth in the forecast period resulted from increase in food export, technological advances, growth in organic foods, rapid urbanization and increasing demand from healthcare industry. Factors that could hinder the growth of the refrigerated goods trucking market in the future include fuel price volatility, coronavirus pandemic and skilled workforce shortage.
North America was the largest region in the global refrigerated goods trucking market, accounting for 30.8% of the total in 2020. It was followed by Western Europe, Asia Pacific, Eastern Europe and then the other regions. Going forward, the fastest-growing regions in the refrigerated goods trucking market will be Eastern Europe, Africa where growth will be at CAGRs of 6.93% and 4.52% respectively. These will be followed by Middle East, North America where the markets are expected to grow at CAGRs of 4.50% and 4.39% respectively, during 2020-2025.
The global refrigerated goods trucking market is highly fragmented, with large number of small players in the market. The top ten competitors in the market made up to 6.24% of the total market in 2020. Major players in the market include Prime Inc, Stevens Transport, Knight-Swift Transportation Holdings Inc., C.R. England and Marten Transport Ltd.
The top opportunities in the refrigerated goods trucking market segmented by vehicle type will arise in the light commercial vehicles segment, which will gain $ 5,454.2 million of global annual sales by 2025. The top opportunities in the refrigerated goods trucking market segmented by temperature will arise in the single temperature segment, which will gain $8,581.1 million of global annual sales by 2025. The top opportunities in the refrigerated goods trucking market segmented by application will arise in the poultry, meat, and seafood, which will gain $ 4,462.7 million of global annual sales by 2025. The refrigerated goods trucking market size will gain the most in the USA at $ 3,418.4 million.
Market-trend-based strategies for the refrigerated goods trucking market include adopting connected trucking, investments in technological innovations, advanced robots for picking, loading, unloading, and packing of shipments, collision mitigation systems for safer travel, demand pricing strategy to make better use of assets and handle capacities, big data and artificial intelligence. Player-adopted strategies in the refrigerated goods trucking market include expanding manufacturing facilities, enhancing transportation services, improving sustainability, improving safety standards and reducing costs.
To take advantage of the opportunities, the publisher recommends the refrigerated goods trucking companies to increase the use of lightweight trailers, incorporate telematics in trailers, focus on adopting collision mitigation systems, expand in emerging markets, offer competitive pricing in low-income countries, leverage social media to maximize reach, increase visibility through a high-performance website, and partnerships with end-users.
For more information about this report visit https://www.researchandmarkets.com/r/38tl8a
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