The global cold chain equipment market is projected to witness a compound annual growth rate of 8.62% during the forecast period to reach a total market size of US$143.676 billion by 2023, increasing from US$87.464 billion in 2017. Lowering trade barriers in many regions of the world is fueling the export and import activities in such regions. Efficient storage and logistics solutions are required to preserve the quality and to extend the shelf life of products like meat, seafood, fruits, chemicals, vaccines and many others while they reach from manufacturers to the end-users. This is driving the demand for cold chain equipment, thereby augmenting their market growth. Food industry holds the largest share among all other end-user industries in the global cold chain equipment market owing to increasing trade of food products among many countries. Among regions, North America holds the largest share in the global market owing to a large number of market players in this region. Cold chain equipment market in Asia Pacific is expected to witness the highest CAGR over the projected period owing to the increasing food exports from countries like India and China. Increasing pharmaceutical exports from India is another factor which is expected to fuel the market for cold chain equipment in this region. However, high implementation and maintenance cost for these equipment is expected to restrain the market growth to some extent.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the cold chain equipment value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the global cold chain equipment market.
Major industry players profiled as part of the report are Americold, Lineage Logistics Holdings, LLC, Preferred Freezer Services, and A B Oxford Cold Storage Co. Pty Ltd among others.
The global cold chain equipment market has been analyzed through following segments:
By End User
Food & Beverage
Middle East and Africa