With a projected CAGR of 8% from 2022 to 2032, the automotive clean cold technology market was valued at US$ 24.31 billion in 2022. The automotive clean cold technology market is projected to grow to US$ 52.49 billion by 2032.
| Attributes | Details |
|---|---|
| Automotive Clean Cold Technology Market CAGR | 8% |
| Automotive Clean Cold Technology Market Size 2022 | US$ 24.31 billion |
| Automotive Clean Cold Technology Market Size 2032 | US$ 52.49 billion |
Two major factors driving the adoption of automotive clean cold technology in cars are the rising demand for automotive clean cold technology and government regulations regarding pollution control.
It is anticipated that as the food, beverage, and pharmaceutical industries expand and become more reliant on clean cold technologies, more countries will make the adoption of automotive clean cold technology.
Additionally, it is anticipated that increased government control of air pollution emissions will accelerate the implementation of clean cold technology globally. The automotive clean cold technology market's capacity to survive, however, heavily hinges on future innovation and product development.
The adoption of automotive clean cold technology is anticipated to increase globally since there is a growing need for a sustainable cold chain of refrigerated warehousing and transport. The automotive clean cold technology market is anticipated to have the most attractive segments in North America and Europe.
Automotive clean cold technology is an emerging zero-emission technology which is especially design to provide power and refrigeration for automotive which used for transportation and logistics of variety of temperature sensitive goods.
This technology uses a mature process of liquefaction, in which liquid nitrogen is used to provide power and refrigeration to an automotive. The technology offers advantages such as potential savings in fuel consumption, reduced emissions, and better cold chain temperature control and stability.
Delivery truck using refrigeration system is operates through two diesel engines, primary engine provides optimum power to drive truck and secondary engine is used to provide cold space inside truck.
According to the report published by 19th European Cold Chain Conference, secondary engine used for providing cold space is consume up to 20% of vehicle diesel, releases 6 times more mono nitrogen oxides (NOx) and 29 times more particulate matter than Euro VI engine, and also leaks up to 30% refrigerants.
Refrigerants have high global warming potential and emission of refrigerants can impact adversely air quality. Hence there is a need of clean technology which not only provides efficient cooling function but also ensure low emission for an automotive.
Clean cold technology is a novel approach to overcome fuel efficiency and pollution problems associated with an automobiles.
This technology utilize vast amount of cold lost to environment during regasification of liquefied natural gas or nitrogen or liquid air. Cold lost to environment can be used to boost efficiency of engine at low temperature, to provide zero emission cooling and power for an automobile.
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A University of Birmingham study found that due to ineffective cold chains in India, about 20% of pharmaceutical items that are sensitive to temperature are delivered damaged or degraded.
The development of clean, cool technologies may now have a chance to enter India's lucrative automotive clean cold technology market. India and China are the two biggest automotive clean cold technology markets in Asia-Pacific, and both are anticipated to experience strong growth in the next years.
This is mainly due to the fact that is expanding industries in China, like those in the food and beverage and pharmaceutical sectors, heavily rely on effective refrigerated transportation.
Transportation and logistics plays an important role in keeping the product handling and transportation among the safest in the world. Refrigeration is an essential need of transportation industry, to deliver intact temperature sensitive products such as food, beverages, pharmaceuticals and vegetables among other.
Growing demand for energy efficient cooling technology for automobile and government’s regulation over pollution control are two key drivers for adoption of clean cold technology in automobiles.
Growing food and beverage and pharmaceuticals industry which highly rely on clean cold technologies, is expected to increase adoption of this technology across the globe.
Additionally, rising government regulation over emission of air pollutants is expected to boost adoption of clean cold technology across the globe. However sustainability of the global clean cold technology market is majorly depends on further innovation and product development.
Principal Consultant
Growing demand for sustainable cold chain of refrigerated warehousing and transport is expected to drive adoption of automotive clean cold technology across the world. North America and Europe are expected to be most attractive segments in global market of automotive clean cold technology market.
According to a study published by the University of Birmingham, almost 20% of temperature sensitive pharmaceuticals products are delivered damage or degraded due to inefficient cold chains in India.
This can offers an opportunity to clean cold technology developer to penetrate in to high potential market of India. China is the largest market in Asia-Pacific followed by India in 2020, and is expected to grow rapidly in the near future.
This is primarily because of growing industries such as food and beverages and pharmaceuticals which are highly rely on efficient refrigerated transportation in China.
Some of the key players in global market of automotive clean cold technology are as follow as;
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
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Automotive Clean Cold Technology Market
