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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Truck Refrigeration Unit Market Analysis by Region
Asia Pacific dominates the market with the heightened demand for transporting perishable goods like food, pharmaceuticals, and healthcare products.
The Asia Pacific region significantly contributes to market growth due to high consumption rates of frozen and chilled products, driven by factors like changing lifestyles, e-commerce expansion, increased spending power, and convenience needs.
Domino's annual report indicated that as of January 1, 2023, there were 1,758 Domino's stores in India, driving demand for truck refrigeration units due to the necessity of transporting frozen and chilled food materials.
Additionally, rising investments in India and China's food service sectors to upgrade cold storage facilities and in smart city development across countries like China and India further spur demand for truck refrigeration units for transporting food, chemicals, and pharmaceuticals, fuelling market expansion.
Truck Refrigeration Unit Market Report Snapshots
Truck Refrigeration Unit Market Size
Truck Refrigeration Unit Market Growth
Truck Refrigeration Unit Market Trends
Truck Refrigeration Unit Market Share
Truck Refrigeration Unit Manufacturers
Truck Refrigeration Unit Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is estimated to be valued at USD 13.55 billion in 2023.
The market is projected to grow at a CAGR of 5.2% between 2024 and 2032.
The revenue generated from the truck refrigeration unit market is expected to reach USD 21.43 billion in 2032.
The market is categorised according to the type, which includes roof mount systems and split systems.
The market key players are Daikin Industries, Ltd., DENSO Corporation, Thermo King Corporation, VBG Group AB, Carrier Global Corporation, and Mitsubishi Heavy Industries Thermal Systems, Ltd., among others.
Based on the application, the market is divided into frozen and chilled.
Based on the industry vertical, the market is divided into frozen food, pharma drugs and chemical, and ambulance and passenger transport.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
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