Dublin, Sept. 28, 2023 (GLOBE NEWSWIRE) -- The "Cold Chain Equipment Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030" report has been added to ResearchAndMarkets.com's offering.
The report on the global cold chain equipment market provides qualitative and quantitative analysis for the period from 2021-2030. The revenue generated by the market was USD 17.98 billion in 2022 and is expected to reach USD 111.29 billion in 2030, with a CAGR of 22.4% till 2030 during the projected period 2023-2030.
The growing demand for protein-rich foods in developing nations has led to an increased focus on expanding the cold chain equipment market. This trend is expected to drive the demand for refrigerated transportation vehicles, which play a crucial role in carrying perishable food items.
The cold chain equipment market is projected to expand significantly. Over the past few years, developing nations have witnessed a significant shift towards protein-rich foods, leading to a notable surge in demand for refrigerated transportation. This trend is expected to drive the expansion of the cold chain market. As the need for transporting perishable food items grows, there will be a considerable boost in the cold chain equipment market. To ensure the sustainable growth of the global food processing industry, it is crucial to implement comprehensive supply chain strategies.
Storage equipment, a crucial component of the refrigerated storage industry, dominates the worldwide cold chain equipment market. Its primary function is to safeguard product quality and extend shelf life, making it indispensable in this sector. The equipment category encompasses various types, such as deep freezers, vaccination carriers, and refrigerators.
These equipment types can be further classified into on-grid, off-grid, and transportation equipment. The demand for off-grid storage technology is projected to rise significantly, driven by emerging nations' efforts to minimize post-harvest and post-processing food losses.
The storage apparatus is specifically designed to maintain a precise temperature range suitable for the type of product being stored. This temperature can vary from below freezing to just above freezing for certain items such as vaccinations, and above freezing for others like fruits and vegetables. Ensuring the quality, safety, and effectiveness of these products throughout the cold chain process is of utmost importance, requiring the use of appropriate storage equipment and temperature control measures.
The Asia Pacific region is home to numerous companies specializing in cold chain equipment solutions. For instance, Haier is a Chinese corporation renowned for its diverse range of refrigerators and freezers, which includes vaccine freezers and medical refrigerators.
China plays a substantial role in driving the APAC market, with various factors contributing to its expansion, such as advancements in technology for seafood product packaging, processing, and storage. Driven by increasing demand and expanding infrastructure, China has emerged as a leading market for cold chains.
The country's economy is undergoing a rapid transformation, transitioning from an industry and construction-driven model to a consumer-driven one. Consequently, there is a growing need for cold chain solutions, particularly in China's thriving pharmaceutical industry, which is experiencing significant advancements. The rapid growth of the biopharmaceutical sector in the region further amplifies the impact on the industry's demand for cold chain solutions.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 17.98 Billion |
| Forecasted Market Value by 2030 | 111.29 Billion |
| Compound Annual Growth Rate | 22.4% |
| Regions Covered | Global |
Report Findings
Drivers
- The market experiences significant growth due to increasing consumer demand for processed food. The cold chain equipment plays a vital role in the food and beverage industry.
- The market experiences significant growth due to the positive impact of food safety and quality regulations on the industry.
Restraints
- The cold chain in food has global and environmental climate change hamper the growth of the market.
Opportunities
- The market presents growth opportunities through the emergence of innovative and sustainable technologies in emerging markets.
Company Profiles
- Carrier
- Intertecnica
- ebm-papst
- INCOLD S.P.A
- Kason Industries, Inc.
- CHG Europe BV
- Kelvion Holding GmbH
- Schmitz Cargobull
- Rivacold srl
- CAREL INDUSTRIES S.p.A.
The Global Cold Chain Equipment Market by Type
- Storage Equipment
- Transportation Equipment
The Global Cold Chain Equipment Market by Application
- Dairy and Frozen Desserts
- Bakery and Confectionary
- Processed Food
- Pharmaceuticals
- Vegetables and Fruits
For more information about this report visit https://www.researchandmarkets.com/r/x777ek
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