Truck Refrigeration Unit Market Growth To Register Steller Growth Owing to Increasing Adoption By End-Use Applications

According to a recent Fact.MR study, ~97,969 truck refrigeration units were sold in the 2018, and sales are highly likely to expand 1.5X during 2019 to 2029. The use of truck refrigeration units for the transportation of fruits and vegetables is envisaged to account for a substantial market share in 2019, and will be accountable for ~40% of the overall sales through 2029. This newly published and insightful report sheds light on Market Insights of Truck Refrigeration Unit, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Truck Refrigeration Unit Market.

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Truck Refrigeration Units Market – Segmentation

Fact.MR’s study analyzes the truck refrigeration units market on the basis of power, product, vehicle, end use and region. The report also offers comprehensive information about the market dynamics as well as the various trends associated with varying segments, and how they are shaping the growth of the truck refrigeration units market.

  • Chiller
  • Freezer
  • Light Duty Trucks
  • Medium Duty Trucks
  • Heavy Duty Trucks
End Use
  • Dairy
  • Fruits and Vegetables
  • Meat and Sea Food
  • Others
  • Vehicle Powered
  • Diesel Powered
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

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Mapping the Truck Refrigeration Units Market Battlefield

The market for truck refrigeration units market is highly consolidated with the top two players, including Carrier Corporation (UTC) and Thermo King Corporation (Ingersoll Rand) collectively accounting for ~70% growth share. Growing number of market enthusiasts and local companies continue to enter into collaboration with the leading market players to seamlessly operate their manufacturing facilities.

Whereas, the market frontrunners are increasingly leveraging advanced technology to develop cost competitive and energy-efficient offerings, to cater to a growing demand from the food and the beverages industry. The established players in truck refrigeration units market have also placed their focus on strengthening their direct presence in the local markets through mergers and acquisitions with regional players. New, improved and cost-competitive product development is and will continue to remain the key area of focus for the truck refrigeration units market leaders that are vying to gain an extra edge in the market.

Steady Market Growth Ahead in Developing Regions

The Fact.MR research study indicates that the rapidly proliferating agriculture sector in the developing regions has been creating an increased demand for proper transportation of temperature-sensitive fruits and vegetables. As per the study, the fruits and vegetables sector is envisaged to remain a considerable mine of opportunities for stakeholders that are looking forward to expand their business and extend their reach in the rapidly developing regions. In East Asia, China is projected to be the most attractive country through 2029, and accounted for ~70% regional market share in 2018. The traction for truck refrigeration units continues to pick pace in line with the rapidly growing cold chain industry and increasing demand for quality-ensuring packaged foods. Additionally, truck refrigeration units are also witnessing wide adoption for the accelerating applications in the pharmaceuticals industry, which in turn continues to promise lucrative growth opportunities for truck refrigeration units market in the future.

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Key Question answered in the survey of Truck Refrigeration Unit market report:

  • Sales and Demand of Truck Refrigeration Unit
  • Growth of Truck Refrigeration Unit Market
  • Market Analysis of Truck Refrigeration Unit
  • Market Insights of Truck Refrigeration Unit
  • Key Drivers Impacting the Truck Refrigeration Unit market
  • Which are the Key drivers impacted by Truck Refrigeration Unit market
  • Restraints Shaping Market Growth
  • Market Survey of Truck Refrigeration Unit

More Valuable Insights on Truck Refrigeration Unit Market

Fact.MR, in its new report, offers an unbiased Market Analysis of Truck Refrigeration Unit, Sales and Demand of Truck Refrigeration Unit, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.

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