About this market
The growing adoption of sustainable initiatives to drive growth in the market. To overcome environment degradation issue, refrigerated transportation providers are preferring the use of eco-friendly electric vehicles that run on renewable sources of energy. Retail and logistics companies are moving toward the GoGreen concept. Technavio’ s analysts have predicted that the refrigerated road transportation market will register a CAGR of nearly 7% by 2022.
Market Overview
Growth in perishable goods trading
The rise in the global trade volume has resulted in the growth in transportation of perishable goods across the globe. The perishable items including fruits, vegetables, seafood, and meat are transported via refrigerated supply chains. The rise in demand or production of these goods will positively impact the growth of refrigerated cargos.
Stringent government regulations and policies
Regulatory changes and their impact on operational efficiency have negatively affected the global refrigerated road transportation market.
For the detailed list of factors that will drive and challenge the growth of the refrigerated road transportation market during the 2018-2022, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including FedEx and Knight-Swift Transportation the competitive environment is quite intense. Factors such as the growth in perishable goods trading and the expansion of aircraft manufacturing facilities, will provide considerable growth opportunities to refrigerated road transportation manufactures. C.H. Robinson Worldwide, DB Schenker, Deutsche Post DHL Group, FedEx, and Knight-Swift Transportation are some of the major companies covered in this report.