by Refrigerated trailer is a type of trailer intended for transportation of temperature sensitive cargos. It is equipped with refrigeration units which helps in maintaining desired temperature ranges inside the trailer. Increased globalization of food supply chains has augmented the demand for transportation of perishable food items such as meat, seafood, dairy products, fruits and vegetables over long distances. Refrigerated trailers play a vital role in preserving the freshness and quality of perishable goods during transit. Growing consumption of convenience and processed food has also bolstered the transportation of various pre-cooked or ready-to-eat food items requiring temperature-controlled logistics.
The global Refrigerated Trailer Market is estimated to be valued at US$ 4.4 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends gaining traction in the refrigerated trailer market is the adoption of advanced insulation and temperature monitoring technologies. Manufacturers are focusing on developing trailers with improved insulation and seals to reduce freezing or spoilage during transit in varied climatic conditions. Additionally, integration of real-time temperature tracking systems allows constant monitoring of cargo conditions. This helps in timely corrective actions if temperature deviations occur. Similarly, adoption of telematics solutions enables fleet operators to track the location of shipments and receive alerts in case of emergency situations. Such technological advancements ensure safe and reliable transportation of perishables over long distances.
Porter’s Analysis
Threat of new entrants: Low startup capital requirements and established brands make the threat of new entrants moderate.
Bargaining power of buyers: Large fleet owners have higher bargaining power due to the increasing demand for refrigerated trailers.
Bargaining power of suppliers: The presence of a number of component suppliers keeps bargaining power of suppliers in check.
Threat of new substitutes: No close substitutes exist for refrigerated trailers used in temperature-controlled logistics.
Competitive rivalry: Intense competition exists among key players to gain higher market share.
Key Takeaways
The Global Refrigerated Trailer Market Size is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing demand for temperature controlled logistic solutions from food & beverage industry.
The refrigerated trailer market in North America is expected to remain the largest as well as the fastest growing regional market owing to rising cold chain logistics in the United States. Europe and Asia Pacific also offer lucrative opportunities for players operating in the refrigerated trailer market.
Key players operating in the refrigerated trailer market are Kogel Trailer GmbH & Co. KG, Wabash National Commercial Trailer Products, Randon Implementos, Great Dane Trailers, Inc., Gray & Adams Ltd., Utility Trailer Manufacturing Company, Hyundai Translead, Montracon Ltd., Schmitz Cargobull AG, Lamberet Refrigerated SAAS, and Fahrzeugwerk Bernard KRONE GmbH. Kogel Trailer GmbH & Co. KG offers a wide range of refrigerated trailers and provides customized temperature controlled solutions. Wabash National Corporation manufactures dry freight and refrigerated trailers.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
