Report ID: UCMIG20G2012
Road Transport Refrigeration Equipment Market Size, Share, Growth Analysis, By Install Vehicle(Vans & Light Trucks, Heavy Trucks, Trailers), By Mode of Operation(Single Temperature, Multi-Temperature), By Power Source(Vehicle-Powered, Self-Powered), By Application(Food and Beverage Products, Pharmaceutical and Other Healthcare Products, Floral Products), By Region(North America, Europe, Asia Pacific, Middle East & Africa) - Industry Forecast 2024-2031
Report ID:
UCMIG20G2012 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Road Transport Refrigeration Equipment Market Insights
Market Overview:
The global market for road transport refrigeration equipment was valued at USD 3.74 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 4.6% during the forecast period. The market size is projected to increase from USD 3.90 billion in 2022 to USD 5.33 billion by 2029. However, the COVID-19 pandemic has affected the demand for this equipment across all regions, resulting in a lower growth rate of 2.7% in 2020 compared to 2019.
Road Transport Refrigeration Equipment Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Construction Machinery & Heavy Trucks by segment aggregation, the contribution of the Construction Machinery & Heavy Trucks in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Road Transport Refrigeration Equipment Market Report Snapshots
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