New York, NY, April 14, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Cold Chain Equipment Market by Type (Storage Equipment, Transportation Equipment), By Application (Fruits & Vegetables, Fruits pulp concentrates, Dairy Products, Fish, Meat, & Seafood, Processed Food, Pharmaceuticals, Bakery & Confectionaries, Others), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026”.
“According to the research report, the global Cold Chain Equipment Market was estimated at USD 8.4 Billion in 2019 and is expected to reach USD 33.5 Billion by 2026. The global Cold Chain Equipment Market is expected to grow at a compound annual growth rate (CAGR) of 22.0% from 2019 to 2026”.
Cold Chain Equipment Market: Overview and Definition
Globalization has reduced the distance among countries across the world, but the physical distance remains a significant factor in the transportation of certain goods. The longer the distance, the generally it is that the freight or cargo would be damaged during one of the many complicated transportation operations involved. Although some goods, such as glass, can be damaged by shocks, others can be damaged by extreme temperature changes. A low-temperature environment is created by properly enclosing the room and using refrigeration equipment to retain it cool by removing the heat.
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Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 190+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Key Questions Answered in this Report
1) What were the pre and post-business impacts of COVID-19 on the Cold Chain Equipment Market?
2) What is the market size, share of the Cold Chain Equipment Market?
3) Who are the top market players in Cold Chain Equipment Market?
4) What will be the future market of the Cold Chain Equipment Market?
Key Offerings:
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Cold Chain Equipment Market: Industry Major Market Players
- Blue Cold Refrigeration Pvt. Ltd.
- Bry-Air; Everidge Inc.
- Hengel Industrie
- Henry Schein Inc.
- Kolpak
- Modern Ice
- Polar King International Inc.
- Thermo Fisher Scientific
- U.S. Cooler
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The term "cold chain" refers to a system that combines temperature-controlled surface transportation with a supply chain. It refers to freezing solutions used to keep items like fresh Agri produce, fish, frozen food, chemicals, photographic film, and prescription drugs in good condition and with a long shelf life. Cold chains are critical for maximizing the shelf life of products, preventing overcapacity, reducing transportation bottlenecks through peak periods, and ensuring product quality. The method entails storing goods in temperature-controlled warehouses and transporting them in cold-insulated transport vehicles. Fruits, vegetables, poultry, beef, medications, and narcotics are all transported and stored using cold chain logistics solutions. Refrigerated trucks, refrigerated freight, refrigerated railcars, and air cargo are among the modes of transportation used.
The market is highly fragmented, with a large number of small businesses across the globe. Along with cold storage equipment suppliers, there is a slew of large-scale cold storage facility operators operating around the world, fueling the market's rapid expansion.
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Cold Chain Equipment Market: Market Dynamics
The market is largely driven by the rising demand for frozen food around the world. Over the forecast period, the market will expand due to rising demand for packaged foods in developing economies, as well as an emphasis on reducing food waste. The industry's growth has been fueled by factors such as changing food habits, increased food spending, and increased intake of fresh food.
According to the UN Food and Agriculture Organization, processing and post-harvest losses account for more than 40 percent of all food losses, especially in developing nations. This necessitates the construction of energy-efficient and long-term cold storage facilities capable of the food supply by 250 million tons or nearly 15%. To maintain the high food supply, the storage equipment in cold storage facilities must be well-stocked. As a result, the market is growing due to an increase in food demand.
Furthermore, temperature-controlled transportation boxes are often used to transport beef, frozen foods, fresh vegetables, bakery goods, and confectionery goods. The high construction and maintenance costs of storage and transportation equipment, on the other hand, serve as a stumbling block. Because of the high cost of cold chain and shipping equipment, affordability is likely to be hindered. Furthermore, the initial costs of establishing solar-powered cold storage facilities are far higher, but manufacturers are willing to invest because of the long-term benefits, such as the low operational costs associated with solar-powered cold storage facilities.
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North America is projected to Dominate Global Cold Chain Equipment Market Growth
North America dominated the industry in 2019 and is expected to continue to do so during the projected period. This is due to North America's major fragmentation of cold storage and cold chain equipment firms. Furthermore, the market is expected to be driven by factors such as growing disposable income, rising population, and regulatory measures aimed at ensuring food safety during storage and transportation during the forecast period. The growing demand for fresh meat, seafood, and vegetables is expected to fuel regional market growth even further.
From 2020 to 2026, Asia Pacific is projected to CAGR at a CAGR of 25.2 percent. Due to the COVID-19 pandemic, there has been a rise in the transit of temperature-sensitive pharma products and drugs into and out of the region. Furthermore, market growth is expected to be fueled by the region's expanding food industry. Following the Asia Pacific, off-grid storage equipment is in high demand in a number of developing nations in Latin America, the Middle East, and Africa. As a result, from 2020 to 2026, these regions are projected to expand the most.
Browse the full “Cold Chain Equipment Market by Type (Storage Equipment, Transportation Equipment), By Application (Fruits & Vegetables, Fruits pulp concentrates, Dairy Products, Fish, Meat, & Seafood, Processed Food, Pharmaceuticals, Bakery & Confectionaries, Others), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/cold-chain-equipment-market
The global cold chain equipment market is segmented as follows:
By Type:
- Storage Equipment
- Transportation Equipment
By Application:
- Fruits & Vegetables
- Fruits Pulp Concentrates
- Dairy Products
- Fish, Meat, & Seafood
- Processed Food
- Pharmaceuticals
- Bakery & Confectionaries
- Others
KEY REPORT POINTERS & HIGHLIGHTS:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Micro, Meso, Macro, and In-Depth Analysis of Technically relevant and Commercially viable Segments and Sub-segments of the Market
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
- Historical and Current Demand (Consumption) and Supply (Production) Scenarios as well as Projected Supply-Demand Scenario Analysis
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Value Chain and Supply Chain Analysis along with Horizontal and Vertical Integration Scenarios
- Manufacturing and Production Cost Structure Analysis including Labor Cost, Raw Material Expenses, and Other Manufacturing Expenses, wherever relevant
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
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