Development of Retail Distribution Systems Drives the Road Transport Refrigeration Equipment Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) November 17, 2014 -- Follow us on LinkedIn – Road Transport Refrigeration Equipment comprising of van, truck and trailer refrigeration system and bodies, is a growing market supported by the ever-present need to safely and securely transport temperature sensitive products like food/beverages, pharmaceuticals, chemicals, plants, flowers, among others. A vital link in the “cold chain”, demand for refrigeration equipment is influenced largely by trade patterns and transportation costs, which in turn are impacted by macroeconomic factors such as environmental regulations, and economic, political, and energy-related policies. Other factors driving growth in the market include globalization in food trade, and changes in consumer spending and food consumption patterns. Encouraged by the unrivalled levels of flexibility offered by roadways coupled with the development of motorway networks, there is increasing preference for road freight transport in international trade. The scenario is poised to benefit demand in the market, since higher number of refrigerated vehicles on road translates into increased demand for refrigeration equipment.
Globalization in food trade represents one of the key factors spurring growth in the market. Trade liberalization and globalization of agriculture is helping expand food production by enhancing production efficiency in terms of yields in agricultural economies of the third world. Globalized food trade provides a platform for growth for transportation and distribution of food produce and products. In addition, globalization also impacts food consumption, health and nutrition. Dietary changes include the shift towards processed foods and increased preference for foods with high nutrition benefits. Easy access to Western foods, and confluence of cuisines, tastes, and flavours have been encouraging consumption of ready-to-eat processed, frozen and chilled foods, which are primary products for refrigerated transport.
As stated by the new market research report on Road Transport Refrigeration Equipment, the United States represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 7.8% over the analysis period. Growth in the region is led by growing population, rapid urbanization, expanding base of middle class consumers, Westernization of food habits, increasing domestic consumption of chilled and frozen food and non-food products and developments in road infrastructure.
Key players covered in the report include Carrier Transicold, Chereau SAS, FRIGOBLOCK Grosskopf GmbH, GAH Refrigeration Limited, Hubbard Products Ltd., Thermo King Corporation, Klege Europ Sainte Marie Constructions Isothermes, Lamberet Constructions Isothermes SA, Mitsubishi Heavy Industries Ltd., Morgan Corporation, and Wabash National Corporation, among others.
The research report titled “Road Transport Refrigeration Equipment: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, service innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America and Rest of World. Product segments analyzed in the report include Van Refrigeration System & Refrigerated Bodies, Truck Refrigeration System & Refrigerated Bodies, and Trailer Refrigeration System & Refrigerated Bodies.
For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Road_Transport_Refrigeration_Equipment_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Web Site: http://www.StrategyR.com/
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Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, +1 408-528-9966, [email protected]
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