Refrigerated Storage in the US - Industry Market Research Report

Refrigerated Storage in the US - Industry Market Research Report

Refrigerated Storage in the US

The Refrigerated Storage industry exhibits a moderate level of market share concentration. In total, the industry's four largest enterprises generate more than 40.0% of total industry revenue each year. Operators in this industry mainly store goods, but also offer value-added services to boost revenue. Additional services include handling, transportation, consulting and packaging.

Top companies dominate

o The industry's four major companies include Americold Logistics LLC (Americold), Lineage Logistics Holdings LLC (Lineage), Preferred Freezer Services LLC (Preferred) and US Cold Storage. In 2019, the top four are anticipated to account for a combined market share of more than 45.0% of revenue, more than 20.0% of which will be attributed to Americold, alone.

Industry leaders expand market share

o Overall, the consistent industry entry of new players has been offset by acquisitions and consolidation on the part of the industry's leading companies. The industry's leading companies have each been able to out-pace the industry's rate of growth over the past five years, consolidating and expanding their respective market shares. Of significant note, Americold became the first major company to complete a public offering in 2018, which is anticipated to stimulate a greater level of capacity and technology investment over the next five years.

Acquisitions help increase capacity

o In 2014, Lineage Logistics acquired three competitors: Millard Refrigerated Services, Loop Cold Storage and Oneida Cold Storage, bolstering market share and adding dozens of new locations.

o In January 2016, United States Cold Storage acquired the former CFC Logistics in Quakertown, PA. Through this acquisition, the company expanded its Northeast operations and share of industry revenue.

The Refrigerated Storage industry includes companies that operate refrigerated warehousing and storage facilities. Temperature-controlled services include blast freezing and tempering. Operators that primarily store furs for trade are included in this industry. These furs are used as raw materials for the manufacturing of garments and personal accessories such as bags and shoes.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.