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Refrigerated Transport Market By Type, Region, Companies, Forecast by 2027
Refrigerated Transport Market is expected to reach US$ 25.43 Billion by 2027. Global Forecast by Type, Mode of Transport (Road, Sea, Air), Region, End Users, Company Analysis.
By: Renub Research
Globally, Refrigerated transport is driven by increased demand for home delivery services and developments in the foodservice business and food processing companies. The climatic change affecting transporting infrastructure may create hindrances in the market's growth in the forecast period. However, the need for reefer transport is reinforced by the speedup in distributing dairy products and pharmaceuticals by vans for short-distance transportation. Our study suggests that the Global Reefer Transport Industry is expected to grow with a moderate CAGR of 6% from 2020 to 2027.
The massive demand for home delivery services and developments in the foodservice and food processing sectors is expected to drive the market for Refrigerated road transport in the upcoming period. Furthermore, the sea is estimated to be the fastest growing segment among various modes of transportation for global refrigerated transportation due to the low cost fused with marine freight. Being a reasonable and proficient overseas mode of delivery, this mode of transport has huge scopes for future development. As per our research report, the Worldwide Refrigerated Transportation Market Size was worth US$ 16.91 Billion in 2020.
North America was amongst the largest markets in the global reefer transport sector in 2020. The rise in technological innovations in refrigerated systems and equipment and the changing food consumption pattern is forecasted to positively impact the demand for reefer transport over the forecast period. Also, the Asia-Pacific is deemed to be the fastest-growing market.
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