The global refrigerated vans market is worth US$ 34.64 Billion as of now and expected to reach US$ 477.61 Billion by the year 2033 at a staggering CAGR of 30% between 2023 and 2033.
The governments across the globe are investing handsomely for developing an efficient healthcare infrastructure; which is actually expected to drive the market. Coming to the food and beverages sector, packaged food is witnessing exhilaration overall; especially with increase in the number of women workforce.
The organizations find refrigerated vans useful as they do deliver products with utmost freshness. There won’t be any stoppage to the refrigerated vans market on these grounds.
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At the same time, the fact that there is a lack of standardization herein could restrain the market can’t be ignored. Plus, more awareness needs to created regarding improvement in infrastructure of the cold chain transportation.
Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Refrigerated Vans Market’. It has its line of expertise in the form of analysts and consultants to execute using a hawk’s eye in its primary, secondary, and tertiary modes of research.
“With ease of delivery pertaining to products, the global refrigerated vans market is expected to grow on a jubilant note in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Refrigerated Vans Market
- North America holds a prominent market share with increase in demand for refrigerated vans from the fast food delivery providers such as Pizza Hut, Subway, Burger King, and KFC in the US and Canada.
- Europe stands second herein with growing preference for on-the-go food products along with frozen food products.
- The Asia-Pacific is expected to grow at the fastest rate in the refrigerated vans market due to expanding e-Commerce vertical in China and India. Also, there is a rise in demand for frozen and chilled food products. Customized refrigerated vans are also being floored.
- MEA is expected to witness strong growth in refrigerated vans market in the upcoming period with pharmaceutical and food verticals ruling the roost.
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Competitive Refrigerated Vans
- The key participants in refrigerated vans market include Kogel Trailer GmbH & Co. KG, Hyundai Translead Inc., Wabash National, Fahrzeugwert Bernard Krone GmbH & Co. KG, China International Marine Containers (Group) Ltd., GRW Tankers and Trailers, Lemberet SAS, Great Dane LLC, Chereau, Schmitz Cargobull AG, and likewise.
- The key participants are engaging in various ways of expansion including the organic and non-organic means for strengthening their foothold in the refrigerated vans market. They include mergers, acquisitions, new product launch, partnerships, joint ventures, and likewise.
- Philips Connect, in March 2022, partnered with United Technologies for launching utility connect. System would be compatible with Philips Connect smart 7 nosebox; which would be inclusive of light out detection, intelligent ABS fault code reporting, GPS trailer tracking, and ability of connecting to extra sensors (sold on separate count) including ultrasonic cargo detection, door closed/open, and interior cargo cameras.
- Ingersoll Rand, in February 2021, tabled e200 – an entirely electric refrigeration unit. These units are personalized for vans as well as trucks of medium sizes. This low weight product helps in urban set-ups.
- Electric Last Mile Solutions, in July 2021, did launch a first all-electric Class 1 refrigerated van using Thermo King (cooling technology).
What does the Report say?
- The research study is based on vehicle type (light duty vans, medium duty vans, and heavy duty vans), payload capacity (up to 5000 Kg, 5000 – 8000 Kg, 8000 – 11000 Kg, and above 11000 Kg), and horsepower (up to 70 HP, 70-100 HP, and above 100 HP).
- Spike in transportation of the life-saving medical drugs is expected to catalyse the refrigerated vans market in the forecast period.
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Refrigerated Vans Market: Segmentation
The refrigerated vans market can be segmented on the basis of, vehicle type and application.
Vehicle Type:
- Light Duty Vans
- Medium Duty Vans
- Heavy Duty Vans
Payload Capacity:
- up to 5000 Kg
- 5000 Kg – 8000 Kg
- 8000 Kg – 11000 Kg
- Above 11000 Kg
Based on HP:
- Up to 70 HP
- 70 HP – 100 HP
- Above 100 HP
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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