Sales in the global transportation condensing units market are slated to top US$ 2.8 Bilion in 2022. Expanding at a healthy 5.7% CAGR, the market size is projected to total US$ 4.87 Billion by 2032.
| Attribute | Details |
|---|---|
| Transportation Condensing Units Market Estimated Size 2022 | US$ 2.8 Billion |
| Transportation Condensing Units Market Value-based CAGR (2022 to 2029) | ~5.7% |
| Transportation Condensing Units Market Size in Projected 2032 | US$ 4.87 Billion |
Rapid urbanization, especially in developing countries, is set to propel the demand for transportation of a wide range of goods via cold storage chain, thereby boosting sales in the market. Also, the ongoing evolution of federal policies and developments in the field of cold chain are anticipated to support the growth in the market.
Further, the ability of these units to condense a particular substance from its gaseous to liquid state through cooling, generally in chillers, heat pumps, air conditioners, and refrigerators is likely to bolster their demand in the upcoming years. These are also available in various sizes and designs, such as evaporative, air-cooled, and water-cooled transportation condensing units.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 5.4% |
| H1,2022 Projected (P) | 5.6% |
| H1,2022 Outlook (O) | 5.9% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 45 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 32 ↑ |
A half-yearly comparison of the growth forecast for the market of transportation condensing units along with the market’s key developments has been presented by Future Market Insights. Rapid urbanization, particularly in developing nations, is expected to increase demand for cold storage chain transportation of a wide range of goods.
It is expected to boost the development of cold supply chain and warehouse facilities, thereby propelling the demand for transportation condensing units.
The global demand for transportation condensing units witnessed a growth rate of 5.4% during the first half of 2021. The market is estimated to witness a growth rate of about 5.6% during the first half of 2022, an increase in the growth by 32 BPS points as per the current estimation.
Many foodservice providers, such as caterers and food service chains are likely to invest in the deployment of refrigerated display cases to fulfill the demand for chilled or frozen food and beverages, thereby fueling sales in the market.
Furthermore, the ability of the transportation condensing units to condense a particular substance from its gaseous to the liquid state through cooling, generally in chillers, heat pumps, air conditioners, and refrigerators is likely to bolster their demand in the upcoming years.
Increasing concerns regarding the safety of perishable food and beverages, such as milk, eggs, cottage cheese, sour cream, fresh fruits, chicken, sauces, mushrooms, beef, and bread among consumers are likely to be the key challenges faced by transportation condensing units.
The transportation condensing units market is expected to register a 5.7% CAGR between 2022 and 2032, up from the 5.4% CAGR recorded during 2014-2021.
Rapid expansion of the food and beverage industry across the globe is anticipated to drive the market in the near future. It is expected to boost the development of cold supply chain and warehouse facilities, thereby propelling the demand for transportation condensing units.
Moreover, many foodservice providers, such as caterers and foodservice chains are likely to invest in the deployment of refrigerated display cases to fulfill the demand for chilled or frozen food and beverages, thereby fueling sales in the market.
As per the American Frozen Food Institute (AFFI), in 2020, the share of core frozen food consumers surged by 39% from 35% in 2018 because of the COVID-19 pandemic. Additionally, the sales of frozen seafood grew by 35.3%, poultry by 34.7%, and appetizers by 28.9% in the same year. The trend is expected to continue in both developed and developing countries owing to the busy lifestyle of people, thereby driving the market.
Increasing concerns regarding the safety of perishable food and beverages, such as milk, eggs, cottage cheese, sour cream, fresh fruits, chicken, sauces, mushrooms, beef, and breads among consumers is likely to propel the demand for transportation condensing units worldwide.
Perishable food and beverages need to be refrigerated at 40 °F or below to prevent decay and spoilage. Transportation condensing units help in slowing down the growth of bacteria in these food items and prevent the occurrence of foodborne illnesses.
As per the World Health Organization (WHO), every year, around 600 million cases of foodborne diseases and 420,000 deaths occur worldwide owing to the consumption of unsafe food. The organization also predicted that 33 million years of healthy lives are lost each year because of unsafe food worldwide. To reduce the prevalence of these diseases, the adoption of transportation condensing units is projected to surge in the forthcoming years.
The presence of numerous frozen food and beverage manufacturers is likely to accelerate demand in the U.S. over the forthcoming years. North America transportation condensing units market is expected to account for 39.6% of the share in 2022, finds FMI.
Besides this, increasing government initiatives to encourage manufacturers to expand their production capacities and geographic presence is another vital factor supporting the U.S. market.
In November 2021, for instance, Governor Ralph Northam of Virginia announced that Nature's Touch Frozen Foods is planning to invest US$ 40.3 million to broaden its presence in Warren County. The company’s new facility will be built by InterChange Group and raw materials will be directly imported to the facility for processing. The Governor mentioned that this would help in reaching out to customers worldwide through the Port of Virginia and create new jobs in the area.
Backed these factors, the U.S. transportation condensing units market is projected to grow at a considerable pace over the assessment period.
Increasing implementation of stringent norms by the government to regulate the transportation of perishable food is expected to augment the market in the U.K. Europe transportation condensing units market is anticipated to generate approximately 32.5% of the share in 2022, says FMI.
The Government of the U.K. has updated its law regarding the transportation of perishable food in or out of the country by trailers, trucks, and heated or refrigerated vans in October 2019. It has set out the number of documents that drivers need to carry to prove their vehicles meet the standards, the temperatures of various foods that are being transported, and the signs that need to be present on these vehicles. Thus, the implementation of various stringent laws by the government to provide high-quality perishable food to customers is likely to boost the market in the U.K.
China is estimated to grow at a steady pace backed by its rapid transition to a consumer-driven economy. As per FMI, East Asia transportation condensing units market is likely to account for 9.6% of the share in 2022.
Further, the ongoing expansion of cold storage facilities, as well as increasing import and export activities in China is set to augment the growth. For instance, the port of Manzhouli, which is a major trade hub between China and Russia, is expected to fully resume trade after partial disruptions because of the COVID-19 pandemic. The resumption of other ports and trade hubs in China is anticipated to boost the market in the forthcoming years.
Principal Consultant
“Urgent Need to Lower Emissions is Boosting Demand for 10-15 KW Transportation Condensing Units”
By cooling capacity, the 10 - 15 KW segment is estimated to lead the market in terms of the transportation condensing units market share in the near future. Increasing implementation of numerous rules by government bodies in various countries to regulate the usage of conventional condensing units is expected to boost sales in this segment.
According to the researchers of Brunel University, in the U.K., the commercial food sector, including food manufacturing, transport, agriculture, and retailing is responsible for about 22% of the total greenhouse gas emissions. Thus, to lower emissions in the environment, manufacturers are developing static refrigeration units of 10 - 15 KW cooling capacity, which is expected to drive growth in this segment.
“Zero Pulsation Property to Raise Adoption of Scroll Compressors in Transportation Condensing Units”
In terms of compressor type, the scroll segment is projected to remain dominant in the transportation condensing units market. As scroll compressors have excellent individual part-load and full-load efficiency, they are mainly preferred by manufacturers of transportation condensing units.
Additionally, continuous compression process with almost no vibration or pulsation is another factor which is expected to fuel the demand for spiral or scroll compressors. On top of that, these compressors have relatively lesser movable parts and provide lower vibration levels, compared to the others, which is estimated to bolster their demand in the forecast period.
“Availability of Customization to Propel Demand for Transportation Refrigeration Units from OEMs”
Based on sales channel, the OEM segment is anticipated to command a lion’s share in the transportation condensing units market. OEMs are developed by and for the manufacturers of trucks and trailers. They also help in monitoring the on-time delivery performance closely.
In addition, the increasing demand for customized transportation vehicles with state-of-the-art features, especially in developed economies is likely to propel the growth in this segment. Besides this, companies can save on capital costs spent to procure factory space and machinery by outsourcing manufacturing. These factors are expected to continue pushing sales over the forthcoming years.
“Food Manufacturing Companies are Preferring Trailers Equipped with Refrigeration Units”
Based on vehicle type, the trailers segment is expected to remain at the forefront in the transportation condensing units market over the forecast period. Growth is attributable to surging demand for refrigerated trailers to transport perishable food in a temperature-controlled environment.
Besides this, growing trend of online shopping and the rising demand for fresh fruits and dairy products across the globe are likely to drive the adoption of trailers for the transpotation of these products. Many food manufacturing companies are also using advanced trailers equipped with transportation condensing units to cater to the high demand for chilled food items.
The transportation condensing units market is highly consolidated. Strategic efforts of many key players are concentrated in maintaining a high sustainability quotient, planning innovative product launches, and making improved designs of condensing units. Meanwhile, some of the other companies are focusing on expanding their manufacturing capacities, creating strong distribution networks, and entering the emerging markets by assessing the demand patterns. For instance:
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| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | Units for Volume and US$ Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and the Middle East & Africa. |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others. |
| Key Market Segments Covered | Cooling Capacity, Compressor Type, Sales Channel, Vehicle Type, and Region |
| Key Companies Profiled | Ingersoll-Rand plc. (Thermo King); Carrier Corporation (UTC Climate); Emerson Electric Co.; Patton International Limited; Danfoss; Rivacold UK Ltd.; Jinan Retek Industries Inc.; GEA Group Aktiengesellschaft; ADVANSOR A/S; Heatcraft Worldwide Refrigeration; Frigo S.p.A.; Voltas; Bitzer SE |
| Pricing | Available upon Request |
By Cooling Capacity:
By Compressor Type:
By Sales Channel:
By Vehicle Type:
By Region:
By 2032, the market is expected to reach a value of US$ 4.87 billion.
The market is anticipated to expand at a CAGR of 5.7%.
Factors such as the presence of numerous frozen food and beverages producers and the government initiatives to increase their demographics that support growth.
The 10W to 15W segment is likely to generate maximum revenue in the market.
On the basis of the sales channel, the OEM segment dominates the market.
The trailer segment is anticipated to dominate the market through 2032.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
1.5. Global Transportation Condensing Units Market: Long-term Strategies for Lucrative Growth
1.6. Global Transportation Condensing Units Market Analysis – Key Conclusions
1.7. Key Success Factors
2. Market Introduction
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Background
3.1. Macro-Economic Factors
3.1.1. Overall Economic Outlook
3.1.2. Global Population Overview
3.1.3. Real GDP Growth
3.1.4. Industry-Value Added Growth
3.1.5. Global GDP by Region
3.1.6. Global Construction Industry Snapshot
3.1.7. Global Automotive Production, by Region
3.1.8. Global Energy Consumption
3.1.9. Annual Household Expenditure Overview
3.2. Truck and Trailer Production Outlook
3.3. Europe’s Trailer Sales and Production Market
3.4. European Semi-trailers Manufacturers’ Market Shares
3.5. Europe and North America Trailers Manufacturers’ Market Shares
3.6. Global Capacity of Refrigerated Warehouses: Overview
3.7. Consumer Spending and Refrigerated Warehouses: Overview
3.8. Global Manufacturing Output Analysis
3.9. Demographic Outlook
3.10. Urban Population Growth Outlook
3.11. India Market Analysis – Key Growth Region
3.12. Forecast Factors: Relevance and Impact
3.13. Value Chain
3.14. Market Dynamics
3.14.1. Drivers
3.14.2. Restraints
3.14.3. Trends
3.14.4. Opportunity Analysis
3.15. Emerging Trends in Cold Chain Industry
3.16. Refrigerant Regulations
3.17. Economics – Refrigerated Truck and Trailers
3.18. Advantages of Compressors
3.19. Key Components Used and Structure of Refrigerated Trucks
3.20. Inefficiencies in the Food Supply Chain
3.21. Cold Chain Logistics Industry Value Chain
3.22. Government Food and Logistics Regulatory Scenario
3.23. Role of Refrigerated Trailer in Cold Chain
3.24. Process of Cold Chain
4. Market Forecast
4.1. Global Transportation Condensing Units Market Volume (Units) Analysis 2014–2021 and Forecast 2022–2029
4.2. Pricing Analysis
4.3. Global Transportation Condensing Units Market Value (US$ Mn) Analysis 2014–2021 and Forecast 2022–2029
5. Global Transportation Condensing Units Market Analysis 2014–2021 and Forecast 2022–2029, by Cooling Capacity
5.1. Introduction / Key Findings
5.2. Historical Aftermarket Size (US$ Mn) and Volume Analysis by Cooling Capacity, 2014 - 2021
5.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast by Cooling Capacity, 2022 - 2022
5.3.1. Below 5 KW
5.3.2. 5 - 10 KW
5.3.3. 10 - 15 KW
5.3.4. Above 15 KW
5.4. Market Attractiveness Analysis by Cooling Capacity
6. Global Transportation Condensing Units Analysis 2014–2021 and Forecast 2022–2029 by Compressor Type
6.1. Introduction / Key Findings
6.2. Historical Aftermarket Size (US$ Mn) and Volume Analysis by Compressor Type, 2014 - 2021
6.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast by Compressor Type, 2022 - 2022
6.3.1. Reciprocating
6.3.2. Rotary
6.3.3. Scroll
6.4. Market Attractiveness Analysis by Compressor Type
7. Global Transportation Condensing Units Analysis 2014–2021 and Forecast 2022–2029 by Sales Channel
7.1. Introduction / Key Findings
7.2. Historical Aftermarket Size (US$ Mn) and Volume Analysis by Sales Channel, 2014 - 2021
7.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast by Sales Channel, 2022 - 2022
7.3.1. OEM
7.3.2. Aftermarket
7.4. Market Attractiveness Analysis by Sales Channel
8. Global Transportation Condensing Units Analysis 2014–2021 and Forecast 2022–2029 by Vehicle Type
8.1. Introduction / Key Findings
8.2. Historical Aftermarket Size (US$ Mn) and Volume Analysis by Vehicle Type, 2014 - 2021
8.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast by Vehicle Type, 2022 - 2022
8.3.1. Trucks
8.3.2. Trailers
8.4. Market Attractiveness Analysis by Vehicle Type
9. Global Transportation Condensing Units Analysis 2014–2021 and Forecast 2022–2029 by Region
9.1. Introduction / Key Findings
9.2. Historical Aftermarket Size (US$ Mn) and Volume Analysis by Region, 2014 - 2021
9.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast by Region, 2022 - 2022
9.3.1. North America
9.3.2. Europe
9.3.3. Latin America
9.3.4. East Asia
9.3.5. South Asia and Oceania
9.3.6. Middle East & Africa
9.4. Market Attractiveness Analysis by Region
10. North America Transportation Condensing Units Analysis 2014–2021 and Forecast 2022–2029
10.1. Introduction
10.2. Historical Aftermarket Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2014 – 2021
10.3. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022 – 2029
10.3.1. by Country
10.3.1.1. U.S.
10.3.1.2. Canada
10.3.2. by Cooling Capacity
10.3.3. by Compressor Type
10.3.4. by Sales Channel
10.3.5. by Vehicle Type
10.4. Market Attractiveness Analysis
10.4.1. by Country
10.4.2. by Cooling Capacity
10.4.3. by Compressor Type
10.4.4. by Sales Channel
10.4.5. by Vehicle Type
10.5. Key Market Participants – Intensity Mapping
11. Latin America Transportation Condensing Units Analysis 2014–2021 and Forecast 2022–2029
11.1. Introduction
11.2. Historical Aftermarket Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2014 – 2021
11.3. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022 – 2029
11.3.1. by Country
11.3.1.1. Brazil
11.3.1.2. Mexico
11.3.1.3. Rest of Latin America
11.3.2. by Cooling Capacity
11.3.3. by Compressor Type
11.3.4. by Sales Channel
11.3.5. by Vehicle Type
11.4. Market Attractiveness Analysis
11.4.1. by Country
11.4.2. by Cooling Capacity
11.4.3. by Compressor Type
11.4.4. by Sales Channel
11.4.5. by Vehicle Type
11.5. Key Market Participants – Intensity Mapping
12. Europe Transportation Condensing Units Analysis 2014–2021 and Forecast 2022–2029
12.1. Introduction
12.2. Historical Aftermarket Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2014 – 2021
12.3. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022 – 2029
12.3.1. by Country
12.3.1.1. Germany
12.3.1.2. France
12.3.1.3. Spain
12.3.1.4. Italy
12.3.1.5. U.K.
12.3.1.6. BENELUX
12.3.1.7. Russia
12.3.1.8. Poland
12.3.1.9. Rest of Europe
12.3.2. by Cooling Capacity
12.3.3. by Compressor Type
12.3.4. by Cable Material
12.3.5. by Sales Channel
12.3.6. by Vehicle Type
12.4. Market Attractiveness Analysis
12.4.1. by Country
12.4.2. by Cooling Capacity
12.4.3. by Compressor Type
12.4.4. by Sales Channel
12.4.5. by Vehicle Type
12.5. Key Market Participants – Intensity Mapping
13. East Asia Transportation Condensing Units Analysis 2014–2021 and Forecast 2022–2029
13.1. Introduction
13.2. Historical Aftermarket Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2014 – 2021
13.3. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022 – 2029
13.3.1. by Country
13.3.1.1. China
13.3.1.2. Japan
13.3.1.3. South Korea
13.3.2. by Cooling Capacity
13.3.3. by Compressor Type
13.3.4. by Sales Channel
13.3.5. by Vehicle Type
13.4. Market Attractiveness Analysis
13.4.1. by Country
13.4.2. by Cooling Capacity
13.4.3. by Compressor Type
13.4.4. by Sales Channel
13.4.5. by Vehicle Type
13.5. Key Market Participants – Intensity Mapping
14. South Asia & Oceania Transportation Condensing Units Analysis 2014–2021 and Forecast 2022–2029
14.1. Introduction
14.2. Historical Aftermarket Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2014 – 2021
14.3. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022 – 2029
14.3.1. by Country
14.3.1.1. India
14.3.1.2. ASEAN
14.3.1.3. Oceania
14.3.1.4. Rest of South Asia & Oceania
14.3.2. by Cooling Capacity
14.3.3. by Compressor Type
14.3.4. by Sales Channel
14.3.5. by Vehicle Type
14.4. Market Attractiveness Analysis
14.4.1. by Country
14.4.2. by Cooling Capacity
14.4.3. by Compressor Type
14.4.4. by Sales Channel
14.4.5. by Vehicle Type
14.5. Key Market Participants – Intensity Mapping
15. Middle East & Africa Transportation Condensing Units Analysis 2014–2021 and Forecast 2022–2029
15.1. Introduction
15.2. Historical Aftermarket Size (US$ Mn) and Volume Trend Analysis by Market Taxonomy, 2014 – 2021
15.3. Market Size (US$ Mn) and Volume Forecast by Market Taxonomy, 2022 – 2029
15.3.1. by Country
15.3.1.1. GCC Countries
15.3.1.2. Turkey
15.3.1.3. Northern & South Africa
15.3.1.4. Rest of MEA
15.3.2. by Cooling Capacity
15.3.3. by Compressor Type
15.3.4. by Sales Channel
15.3.5. by Vehicle Type
15.4. Market Attractiveness Analysis
15.4.1. by Country
15.4.2. by Cooling Capacity
15.4.3. by Compressor Type
15.4.4. by Sales Channel
15.4.5. by Vehicle Type
15.5. Key Market Participants – Intensity Mapping
16. Market Structure Analysis
16.1. Market Structure Analysis by Tier
16.2. Market Share Analysis of Top Players
16.3. Market Presence Analysis
17. Competition Analysis
17.1. Competition Dashboard
17.2. Competition Deep Dive
17.2.1. Ingersoll-Rand plc. (Thermo King)
17.2.1.1. Overview
17.2.1.2. Product Portfolio
17.2.1.3. Strategy Overview
17.2.1.3.1. Marketing Strategy
17.2.1.3.2. Product Strategy
17.2.1.3.3. Channel Strategy
17.2.2. Carrier Corporation (UTC Climate)
17.2.2.1. Overview
17.2.2.2. Product Portfolio
17.2.2.3. Strategy Overview
17.2.2.3.1. Marketing Strategy
17.2.2.3.2. Product Strategy
17.2.2.3.3. Channel Strategy
18. Assumptions and Acronyms Used
19. Research Methodology
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Transportation Condensing Units Market
