About Transport Refrigeration Units
Transport refrigeration units are used to control the environment of temperature-sensitive products transported in trucks, vans or any carrier vehicle as well as in marine/intermodal containers. Refrigerated transportation is a method of climate controlled transportation, which is specifically designed to ship products that require a cool or frozen temperature to stay fresh for delivery to the market. Products like frozen fruits and vegetables, frozen seafood or meat, plants, chemicals, pharmaceuticals, and agricultural products require a temperature controlled environment to sustain the transit.
Technavio’s analysts forecast the global transport refrigeration units market to grow at a CAGR of 5.71% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global transport refrigeration units market for 2017-2021. To calculate the market size, the report considers the market segmentation based on modes of transportation, end-user, and geography.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Transport Refrigeration Units Market 2017-2021
Technavio recognizes the following companies as the key players in the global transport refrigeration units market: Carrier, DAIKIN INDUSTRIES, Ingersoll Rand, and MITSUBISHI HEAVY INDUSTRIES.
Other Prominent Vendors in the market are: CHEREAU, China International Marine Containers, Great Dane, Hubbard Products, LAMBERET, LAMILUX, Morgan Corporation, Schmitz Cargobull, Utility Trailer Manufacturing Company, and Wabash National Corporation.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is technological advances in refrigeration units. Companies are involved in developing the latest technologies to enhance the efficiency and life of the refrigeration units. In 2014, Carrier Transicold launched an accessory product, which uses the sun's energy to charge the transport refrigeration unit (TRU) batteries.”
According to the report, one driver in the market is growing demand for frozen food. The frozen fruit and vegetable market is rapidly growing, globally, as the products are available all through the year and the market is not confined only to seasonal availability. Consumers prefer to buy frozen and processed fruits and vegetables due to the lack of time. Many countries are involved in growing fresh fruits and vegetables, which are then distributed to other countries to meet the consumer demands. The Millennials, aged between 18 and 34, are highly health conscious consumers. Frozen fruits and vegetables have a higher intake of key nutrients like potassium, calcium, and fiber; the consumption of frozen fruits and vegetables also reduces the Body mass index (BMI).
Further, the report states that one challenge in the market is health concerns over consumption of frozen fruits and vegetables. The increase in the demand for frozen foods is leading to enhancements in cold chain supply, thereby driving the transport refrigeration units market. However, health concerns about frozen fruits and vegetables is a major challenge for the food processing sector, which will hinder the transport refrigeration unit industry. In order to preserve the nutritional value of food, vegetables are processed and frozen immediately after harvesting.
Carrier, DAIKIN INDUSTRIES, Ingersoll Rand, MITSUBISHI HEAVY INDUSTRIES, CHEREAU, China International Marine Containers, Great Dane, Hubbard Products, LAMBERET, LAMILUX, Morgan Corporation, Schmitz Cargobull, Utility Trailer Manufacturing Company, and Wabash National Corporation.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook