September 10, 2024 — Meticulous Research®, a leading global market research firm, has unveiled its latest research report titled, “Cold Chain Equipment Market by Type (Storage, Transportation, Associated, Temperature Monitoring Devices), Industry (Pharmaceuticals & Biotechnology, Food Processing, Bakery & Confectionery, Brewery & Winery), and Geography – Global Forecast to 2030.” This comprehensive report provides an in-depth analysis of the cold chain equipment market, forecasting it to reach $410 billion by 2030, growing at a CAGR of 11.8% from 2023 to 2030.
The report highlights several key drivers behind this substantial growth, including the increasing need to transport and store temperature-sensitive products, the globalization of food supply chains, and the expansion of the pharmaceutical industry. Additionally, technological advancements in cold chain solutions are expected to drive further market opportunities. However, the report also notes significant challenges such as high energy consumption and regulatory standards & compliance, which pose constraints to market growth. A notable trend in the industry is the shift towards sustainable cold chain solutions.
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Market Segmentation
The global cold chain equipment market is segmented by type and industry, with a detailed analysis of each segment:
- Type:
- Storage Equipment: Electrical (Walk-in Cooler, Walk-in Freezer, Ice-lined Refrigerator, Deep Freezer), Solar Refrigerators, Non-electrical (Cold Box, Vaccine Carrier, Ice Pack)
- Transportation Equipment: Refrigerated Van, Insulated Van, Cold Box, Vaccine Carrier, Ice-Packs
- Associated Equipment: Stabilizer, Generator, Inverter
- Temperature Monitoring Devices: Thermostats, Electronic Data Logger, Freeze Indicator, Real-time Temp Monitoring Device
- Industry:
- Pharmaceuticals & Biotechnology
- Food Processing (Fruits & Vegetables, Poultry & Meat, Fisheries, Retail Food, Dairy)
- Chemicals & Processing
- Bakery & Confectionery
- Brewery & Winery
- Other Industries
- Geography:
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Spain, Rest of Europe)
- Asia-Pacific (Japan, China, India, South Korea, Rest of Asia-Pacific)
- Latin America
- Middle East & Africa
To Gain More Insights into the Market with a Detailed Table of Content and Figures, Click Here:https://www.meticulousresearch.com/product/cold-chain-equipment-market-5633
Market Insights
According to the report, the storage equipment segment is expected to hold the largest market share in 2023 due to the growing need for preserving temperature-sensitive products. The transportation equipment segment is projected to experience the highest CAGR during the forecast period due to increasing demand for refrigerated transportation solutions.
In terms of industry, the food processing segment is anticipated to dominate the market share, driven by the need for temperature control in processing, storage, and distribution of food products. The segment is also expected to exhibit the highest growth rate.
Geographically, North America is expected to lead the market share, supported by stringent government regulations and advancements in refrigeration technology. Meanwhile, Asia-Pacific is forecasted to register the highest CAGR, driven by the expansion of cold chain infrastructure and rising consumer awareness.
Key Players
Prominent players in the cold chain equipment market include Thermo King (U.S.), Carrier Global Corporation (U.S.), Schmitz Cargobull AG (Germany), Mettcover Global INC (U.S.), and many others. The competitive landscape features a mix of global leaders and regional innovators, each contributing to the evolving market dynamics.
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