New York, NY -- (SBWire) -- 02/25/2016 --Persistence Market Research has released a research report titled "Global Market Study on Refrigerated Trailer: Expansion of Cold Chain Capacities in Asia Pacific to Drive Demand through 2021". According to the report, the global refrigerated trailer market is exhibiting a CAGR of 4.40% between 2015 and 2021.
The primary growth driver of the global refrigerated trailer market is the increasing demand for cold storage chains in Asia Pacific. Third-party logistics companies across the globe, and especially in the Asia Pacific region, are boosting their capital expenditures on cold storage chains to meet the high incoming demand for efficient refrigeration options during transit. This rapid expansion of the global cold storage chain industry has created a similar growth pattern in demand from the global refrigerated trailer market.
However, the report also lists factors that might hamper the global refrigerated trailer market, including high operational costs of cold storage trucking, the large distance between some points through which the cold storage chains have to move, and the overall shortage of infrastructure and supportive legislation in most developing economies.
The global refrigerated trailer market benefits from the advancements in technologies in cold storage, which allow for cold storage chains to run for longer distances. It has also allowed the chains to improve the accuracy of the temperature at which goods should be stored. This has massively increased the range at which the cold storage chains can be used to transport medical goods.
According to the report, the global refrigerated trailer market can be segmented according to product type, end use, and geography.
Based on product type, the global refrigerated trailer market was led by chilled goods in 2014, when the chilled goods segment held 61.3% of the market.
In terms of end use, the global refrigerated trailer market is dominated by meat and seafood, which occupied 32.6% of the market in 2014. The segment is expected to maintain its market lead due to the expected increase in packaged seafood and meat demand.
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North America led the global refrigerated trailer market in 2014, when it held 30% of the market. North America was closely followed by Western Europe with a 27% share. Although the Asia Pacific region ranks third in the global refrigerated trailer market, it is anticipated to be the fastest growing region owing to the increasing demand for long-distance cold storage chains in the rapidly developing economies in the region.
View TOC (table of content), Figures and Tables of the Report: http://www.persistencemarketresearch.com/toc/5951
The report also discusses the top companies in the global refrigerated trailer market, such as Randon Implementos, Gray & Adams Ltd., Montracon Ltd., Lamberet Refrigerated SAS, Kögel Trailer GmbH & Co. KG, Fahrzeugwerk Bernard KRONE GmbH, Schmitz Cargobull AG, Utility Trailer Manufacturing Company, Great Dane Trailers, Inc., and Wabash National Commercial Trailer Products.
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Expanding Cold Storage Chains Boost Demand from Global Refrigerated Trailer Market
The global refrigerated trailer market is projected to expand at a CAGR of 4.4% during the forecast period (2015–2021).