In 2022, sales in the global transportation condensing units market are anticipated to reach US$ 2.8 Billion. By 2032, the market size is expected to reach US$ 4.87 Billion, growing at a robust 5.7% CAGR.
- According to a recent research report from Future Market Insights (FMI), more than 200 000 transportation condensing units were sold in 2018. The study also predicts that in 2019, the unit sales of transportation condensing units would expand by a promising little under 5% annually.
- Global transportation condensing units market size in 2018 – Nearly US$ 2.3 Billion The transportation condensing units market is likely to thrive at an estimated 5.6% CAGR over 2018-2028.
The market for transportation condensing units is anticipated to be impacted by the quick industrial breakthroughs in the cold chain sector, shifting federal legislation, and expanding urbanisation, which continues to drive demand for transportation of various commodities via cold storage chain.
While medium-to-high capacity, or 10-15 KW transportation condensing units, account for more than 45% of total sales, it is highly likely that high-capacity, or above 15 KW, transportation condensing units, which currently account for slightly less than a fourth of market volume, will gain momentum in the coming years. The research has linked this expansion to a surge in the need for broad application sectors.
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The most common users of transportation condensing units, according to the report, are single-temperature, single-compartment refrigerated trailers/trucks or multi-temperature, multi-compartment refrigerated trailers/trucks.
Developed Regions Account for over 70% Share in Total Sales of Transportation Condensing Units
It is anticipated that the markets for transportation condensing units in Europe and North America will expand at a moderate rate going forward. Additionally, trailers predominate among the vehicles that use transportation condensing units in these regions. Currently, North America and Europe hold a combined volume share of over 70% of the global market for transportation condensing units.
It is anticipated that the modernization of existing stores, packing houses, and ripening facilities in ASEAN countries and Latin America will open up lucrative opportunities in the market for transportation condensing units. The analysis predicted that the East Asia-South Asia-Oceania cluster will enjoy significant market increase in the years to come.\
China has started to see success in recent years with the production of transportation condensing units. China has been a key provider of agricultural and animal goods to the world, with an annual value of roughly US$ 300 billion. The range of prospective new infrastructure expansions will expand due to the lack of suitable chilling facilities, which will boost the demand for transportation condensing units.
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Competition Landscape of transportation Condensing Units is Consolidated and Turning Highly Dynamic
The most temperature-sensitive perishable goods that can be managed and tracked in the cold chain with the help of transportation condensing units or transportation refrigeration units include food, pharmaceuticals, biologics and bioengineered drugs, vaccines, as well as some industrial chemical classes. The increasing installation of these units for short- and long-haul applications on private and business carriers will continue to be beneficial to the market for transportation condensing units.
The top two competitors account for over 90% of the total revenue earned in the global transportation condensing units, which has a highly consolidated competitive environment. The bulk of top players will likely continue to focus their strategic efforts on developing better transportation condensing unit designs, organising more effective product launches, and maintaining a high sustainability quotient. To lengthen product life cycles, ongoing efforts are anticipated to be made to introduce novel materials and technologies.
Key market players are also focused on enhancing their production capabilities, for better geographic reach. Importantly, strong distribution network, powerful customer management, and unique product and service portfolios are likely to remain the key developmental strategies of leading players competing in the global transportation condensing units market landscape. Moreover, companies will focus on the expansion in international markets by the assessment of demand patterns in various regional markets.
Prominent players in transportation condensing units market will also strategize on strengthening relationships with distribution partners and local market operators, as well as others across the supply and distribution network. Looking at the swift expansion of retail space, several companies are also investing in establishing tie-ups with a variety of retail channels. Some of the leading companies are also augmenting investments in the development of next-generation hybrid-electric transportation condensing units, according to FMI’s analysis.
Some of the key companies that have been covered in the global transportation condensing units market report, include Carrier Transicold, Thermo King, Guangzhou Snowfall Refrigeration Equipment Co., Kingtec, Zanotti, and Electric Reefer Solutions.
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Key Segment
By Cooling Capacity
- Below 5 KW
- 5 – 10 KW
- 10 – 15 KW
- 4. Above 15 KW
By Compressor Type
- Reciprocating
- Rotary
- Scroll
By Sales Channel
- OEM
- Aftermarket
By Vehicle Type
- Trucks
- Trailers
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
Transportation Condensing Units Market Structure Analysis
- The global transportation condensing units market is a consolidated competition landscape, wherein, tier 1 companies hold more than 82% revenue share.
- While most prominent players maintain strategic focus on the North American and European markets, FMI’s report states that new technology assessment and environment-friendly products will be an important developmental strategy for companies.
- Leading players in the transportation condensing units market are also concentrating on the ASEAN, Indian, and Chinese markets where cost competitiveness will remain a strong differentiation strategy.
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