Asia-Pacific Truck Refrigeration Unit Market, By Type (Split System and Roof Mount System), Length (< 8-meter, 8-12-meter, and >12-meter), Application (Chilled and Frozen), Power Source (Engine Powered and Independent), Power Capacity (Below 5 kW, 5 kW - 19 kW, and Above 19 kW), Vehicle Type (Light Commercial Vehicles (LCV), Medium & Heavy Commercial Vehicles, Trailer (Container), Bus, and Others) - Industry Trends and Forecast to 2030.
Asia-Pacific Truck Refrigeration Unit Market Analysis and Insights
A shift in consumer preference for frozen foods products has resulted in the growing demand for truck refrigeration units by many industries. Furthermore, there has been increased adoption of refrigerated fruits and vegetables by consumers and transportation of medical drugs, vaccines, general medicines, and supplements all over the world.
Data Bridge Market Research analyses that the Asia-Pacific truck refrigeration unit market is expected to reach a value of USD 8,298.65 million by 2030, at a CAGR of 6.4%, during the forecast period of 2023 to 2030. The truck refrigeration unit market also covers pricing analysis, patent analysis, and technological advancements in depth.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customisable to 2015-2020)
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Quantitative Units
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Revenue in Million, Volumes in Thousand Units, Pricing in USD
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Segments Covered
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By Type (Split System And Roof Mount System), Length (< 8-Meter, 8-12-Meter, And >12-Meter), Application (Chilled And Frozen), Power Source (Engine Powered And Independent), Power Capacity (Below 5 Kw, 5 Kw - 19 Kw, And Above 19 Kw), Vehicle Type (Light Commercial Vehicles (LCV), Medium & Heavy Commercial Vehicles, Trailer (Container), Bus, And Others)
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Countries Covered
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China, India, Japan, South Korea, Australia, Singapore, Taiwan, New Zealand, Thailand, Malaysia, Vietnam, Philippines and Rest of Asia-Pacific
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Market Players Covered
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MITSUBISHI HEAVY INDUSTRIES THERMAL SYSTEMS, LTD., DAIKIN INDUSTRIES, Ltd., Carrier, DENSO CORPORATION, Grayson, SANDEN CORPORATION, Mobile Climate Control., ZHENGZHOU GUCHEN INDUSTRY CO., LTD., TRANE TECHNOLOGIES PLC, Subros Limited, Klinge Corporation, Webasto SE, KRONE, SONGZ AUTOMOBILE AIR CONDITIONING CO., LTD, and Schmitz Cargobull among others
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Market Definition
Truck refrigeration systems are used as refrigerated/reefer trucks with mechanical refrigeration systems to transport perishable goods (such as frozen foods, vegetables, fruits, ice cream, and wine) in order to keep the chilled or frozen products at suitable temperatures all the way to the point of sale. A refrigerator is a truck, trailer, or freight container that has a refrigerating unit for transporting temperature-sensitive commodities. General alternatives for supporting freight in a "cool" or "fresh" temperature range or in a frozen temperature range are available for LTL (Less-Than-Truckload) shipping. For loads such as fresh food or other perishable commodities, a "cold" range is typically used. Refrigerators occasionally move their trailers with dry freight that does not require refrigeration. It is crucial to note a few details while transporting goods. Long-distance transportation of perishable and temperature-sensitive goods necessitates the use of reefer trucks. The most common examples are frozen meats and fresh produce.
Asia-Pacific Truck Refrigeration Unit Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail as below:
Drivers
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Increasing transportation of perishable goods such as food items and pharmaceuticals
Frozen food products require refrigerated transportation modes to maintain the quality of the products over longer distances. The food products being transported need to be refrigerated so that the products do not deteriorate and lose their original value. From farm to factory to fork, food products may encounter any number of health hazards during their journey through the supply chain. Safe food handling practices and procedures are thus implemented at every stage of the food production life cycle in order to curb these risks and prevent harm to consumers.
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Rising demand for frozen foods by consumers
Convenience features are the focus for packages that enhance ease of use, both at home and on the go. Convenience features, such as easy opening, portability, and one-handed use, continue to drive frozen food-packaging innovation for a wide range of processed foods, including entrees, snacks, and even food service products. As processed food requires easy and flexible packaging material, it makes them convenient and easy to use. Thus, the rising demand for frozen foods by consumers is expected to drive the market demand.
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Increasing growth of supermarkets and restaurants such as KFC and Subway
The increasing growth of restaurants and supermarkets is promoting frozen food products to a larger extent. After the COVID era, the usage of frozen foods has increased tremendously due to lifestyle and less time. Food delivery services became immensely important but brought unique challenges. Trust in the food handling process, delivery methods, and demand for contactless transactions became front and center for those using restaurants for home delivery. Remembering that more than 900,000 people died in the U.S. makes the ongoing situation a long-term consideration for food service workers, field workers, and other employees related to the field.
Opportunities
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Increasing investment in the food service sectors by countries like India and China
The importance of the agro-industrial sector for developing countries is assessed in light of two different trends. First, frozen processed products now dominate the Asia-Pacific food trade, which is the case for both exports and imports from developing countries. Secondly, there has been a significant shift in the composition of food exports from developing countries, with "non-traditional exports" leading the way. These exports offer new opportunities for development strategies, although the least developed countries have shifted from net food exporters to mainly net importers of processed products.
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Huge demand for hygienic food products and food packaging
Food safety is of prime importance to consumers as well as food processors, as they help to protect consumers' health from food-borne illness and food poisoning. Hygienic production of food products involves handling, preparing, and storing food or drink in such a way as to minimize the risk of consumer illness from food-borne illness. Food safety guidelines aim to prevent food from becoming contaminated and causing food poisoning.
Restraints
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High cost associated with the energy-efficient AC system
The air-conditioning system costs of the food transportation vehicles include both the expenditure of raw materials and the costs required to transport the finished products. Manufacturing companies operate in highly competitive industries. In order to compete, these companies look for ways to cut costs, allowing them to offer lower prices to customers. In the production process, the supply and demand of raw materials play a very important role in determining the company's cost.
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Growth in health concerns about the consumption of frozen fruit and vegetables
Heavily processed foods often include unhealthy levels of added sugar, sodium, and fat. These ingredients make the food taste better, but too much of them leads to serious health issues such as obesity, heart disease, high blood pressure, and diabetes.
Challenges
- Lack of awareness regarding the hazardous effects of frozen food
Food hygiene is the condition and measures which are necessary to ensure the safety of food from production to consumption of the food. Lack of food hygiene can lead to food-borne illnesses and even the death of the consumer. Millions of people in the world are suffering from the transmission of diseases by consuming unhygienic food every year.
- Lack of infrastructure
Many frozen food safety testing labs are lacking behind in the infrastructure. It is very difficult to control the presence of highly toxic pesticide residues, antibiotics or heavy metals, and dangerous microorganisms in raw food materials. During processing, the implementation of microbiological controls, such as in a HACCP or GMP program, is basically beyond question because of inadequate plant conditions and infrastructure, staff training, safe water, modern technologies for packaging operations, quality assurance, and standard sanitizing procedures. This is expected to restrain the market's growth.
Recent Development
- In September 2019, MITSUBISHI HEAVY INDUSTRIES THERMAL SYSTEMS, LTD was awarded the contract to supply high-tech traction equipment for Construcciones y Auxiliar de Ferrocarriles, S.A. (CAF) company. The company delivered traction equipment for the 88 trains used in the Dutch rail network. This company enhanced its brand value in the market and the customer base
Asia-Pacific Truck Refrigeration Unit Market Scope
The Asia-Pacific truck refrigeration unit market is segmented on the basis of type, length, application, power source, power capacity, and vehicle type. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Split System
- Roof Mount System
On the basis of type, the Asia-Pacific truck refrigeration unit market is segmented into split system and roof mount system.
Length
- < 8-Meter
- 8-12-Meter
- >12-Meter
On the basis of length, the Asia-Pacific truck refrigeration unit market is segmented into < 8-meter, 8-12-meter, and >12-meter.
Application
- Chilled
- Frozen
On the basis of application, the Asia-Pacific truck refrigeration unit market is segmented into chilled and frozen.
Power Source
- Engine Powered
- Independent
On the basis of power source, the Asia-Pacific truck refrigeration unit market is segmented into engine powered and independent.
Power Capacity
- Below 5 Kw
- 5 Kw - 19 Kw
- Above 19 Kw
On the basis of power capacity, the Asia-Pacific truck refrigeration unit market is segmented into below 5 kW, 5 kW - 19 kW, and above 19 kW.
Vehicle Type
- Light Commercial Vehicles (LCV)
- Medium & Heavy Commercial Vehicles
- Trailer (Container)
- Bus
- Others
On the basis of ownership, the Asia-Pacific truck refrigeration unit market is segmented into Light Commercial Vehicles (LCV), medium & heavy commercial vehicles, trailer (container), bus, and others.
Asia-Pacific Truck Refrigeration Unit Market Regional Analysis/Insights
The Asia-Pacific truck refrigeration unit market is analyzed, and market size insights and trends are provided by type, length, application, power source, power capacity, and vehicle type.
The countries covered in the Asia-Pacific truck refrigeration unit market report are China, India, Japan, South Korea, Australia, Singapore, Taiwan, New Zealand, Thailand, Malaysia, Vietnam, Philippines and Rest of Asia-Pacific.
India is expected to dominate the market due to the growing number of food delivery businesses in the region.
The region section of the report also provides individual market-impacting factors and changes in regulations in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Truck Refrigeration Unit Market Share Analysis
Asia-Pacific truck refrigeration unit market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, solution launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the Asia-Pacific truck refrigeration unit market.
Some of the major players operating in the Asia-Pacific truck refrigeration unit market are MITSUBISHI HEAVY INDUSTRIES THERMAL SYSTEMS, LTD., DAIKIN INDUSTRIES, Ltd., Carrier, DENSO CORPORATION, Grayson, SANDEN CORPORATION, Mobile Climate Control., ZHENGZHOU GUCHEN INDUSTRY CO., LTD., TRANE TECHNOLOGIES PLC, Subros Limited, Klinge Corporation, Webasto SE, KRONE, SONGZ AUTOMOBILE AIR CONDITIONING CO., LTD, and Schmitz Cargobull among others.
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