by The refrigerated trailer market facilitates the safe transportation of perishable foods and temperature-sensitive pharmaceuticals over long distances. Refrigerated trailers maintain optimum temperatures through specialized insulation and refrigeration systems to prevent spoilage during transit. As a result, the seafood, meat, dairy and pharmaceutical industries heavily rely on refrigerated trailers to distribute perishable products from factories to warehouses and processing facilities located across different geographic regions. The global refrigerated trailer market is estimated to be valued at US$ 2.4 billion in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the refrigerated trailer market growth is the rising adoption of telematics and advanced vehicle tracking systems. Telematics enables fleet managers to monitor vehicle location, engine performance, fuel consumption and cargo temperature in real-time. This helps identify issues early and reduce downtime. Advanced fleet management systems integrated with sensors also provide predictive maintenance alerts to schedule repairs before equipment failures occur. Such technologies improve transport efficiency, reduce operating costs and ensure cargo safety during long-haul transportation of perishable foods and pharmaceuticals. Their deployment is expected to grow substantially over the forecast period as more companies recognize the performance and monetary benefits of digitally connected vehicles.
Porter’s Analysis
Threat of new entrants: Refrigerated trailer market requires high initial investments which acts as a barrier for new players. Bargaining power of buyers: Large fleet owners have high bargaining power due to their ability to demand lower prices and better facilities. Bargaining power of suppliers: Presence of numerous component suppliers gives buyers bargaining power. Threat of new substitutes: Low threat as refrigerated trailers are essential for transportation of perishable goods over long distances. Competitive rivalry: Intense competition exists between major manufacturers to gain market share.
Key Takeaways
The global refrigerated trailer market is expected to witness high growth.
North America dominates the market owing to high demand from food processing and transportation industries in the US and Canada. Europe stands as the second largest market driven by rising demand in UK, Germany and France.
Key players operating in the refrigerated trailer market are Wabash National Corporation, Great Dane, Utility Trailer Manufacturing Company, Polar King International, Inc, MANAC INC., Icemaker Refrigerated Trailers and Montracon Ltd.
