Author: Acumen Research and Consulting

The Global Cold Chain Equipment Market Size is predicted to reach USD 45.9 Billion by 2032 from USD 22.7 Billion in 2022, at a CAGR of 22.1% between 2023 and 2032, as per the Acumen Research and Consulting

In recent years, the use of cold chain equipment has seen a significant surge across various industries globally. This trend can be attributed to several factors, including advancements in technology, growing consumer demand for perishable goods, and the expansion of global supply chains. Cold chain equipment, which includes refrigerated trucks, storage facilities, and temperature-controlled packaging, plays a crucial role in maintaining the integrity and quality of temperature-sensitive products throughout the entire supply chain, from production to distribution.

One key driver behind the increasing use of cold chain equipment is the rise of the pharmaceutical and healthcare sectors. With the development of new biopharmaceuticals and vaccines that require strict temperature control, there has been a growing need for reliable cold chain infrastructure to ensure the safety and efficacy of these products. Additionally, the expansion of e-commerce and online grocery delivery services has fueled demand for cold chain logistics solutions to transport fresh food and groceries to consumers' doorsteps, often over long distances. Moreover, heightened awareness of food safety and quality among consumers has prompted companies in the food and beverage industry to invest in cold chain equipment to comply with regulations and meet consumer expectations.

Cold Chain Equipment Market Statistics

• Global cold chain equipment market value was worth USD 22.7 Billion in 2022, with a 22.1% CAGR from 2023 to 2032
• North America cold chain equipment market share occupied around 44% in 2022
• Asia-Pacific region is expected to expand at the highest CAGR between 2023 and 2032
• By type, the storage equipment segment captured the largest market share in 2022
• Growth of e-commerce and online grocery platforms, propel the cold chain equipment market revenue

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Cold Chain Equipment Market Trends

The cold chain equipment market has experienced substantial growth in recent years and is expected to continue expanding at a rapid pace. Factors driving this growth include the increasing demand for temperature-sensitive products such as pharmaceuticals, vaccines, fresh foods, and dairy products, coupled with the need for stringent temperature control throughout the supply chain. The pharmaceutical industry, in particular, has emerged as a significant contributor to the growth of the cold chain equipment market, with the development of biopharmaceuticals and vaccines that require precise temperature management during transportation and storage.

Furthermore, the expansion of e-commerce and online grocery delivery services has fueled the demand for cold chain logistics solutions, driving further growth in the market. Consumers now expect fresh and frozen goods to be delivered to their doorstep in optimal condition, necessitating the use of temperature-controlled vehicles and storage facilities. Additionally, increasing regulatory requirements related to food safety and product quality have compelled companies to invest in cold chain infrastructure to comply with standards and regulations. These factors, combined with technological advancements in refrigeration systems and temperature monitoring devices, are expected to drive continued growth in the cold chain equipment market in the coming years, especially in regions with developing economies and evolving supply chain networks.

Cold Chain Equipment Market Segmentation     

Acumen Research and Consulting has segmented the global cold chain equipment market by type, application, and region.

• By type, the industry is categorized into storage equipment (on-grid, off-grid, and others), and transportation equipment.
• By application, the market is classified into meat, bakery & confectionary, dairy & frozen desserts, processed food, vegetables & fruits, pharmaceuticals, and others.
• By region, the market is divided into Asia-Pacific, North America, Europe, Latin America, and the MEA.

Cold Chain Equipment Market Regional Overview

According to the cold chain equipment industry analysis, the Asia-Pacific region has emerged as a significant and rapidly growing market for cold chain equipment in recent years. Several factors contribute to this growth, including the region's increasing population, rising disposable incomes, and changing consumer preferences towards perishable goods. As economies in Asia-Pacific continue to develop, there has been a surge in demand for temperature-sensitive products such as pharmaceuticals, fresh produce, and seafood, driving the need for efficient cold chain logistics solutions. Moreover, the expansion of the pharmaceutical and healthcare industries in the region has further fueled the demand for cold chain equipment. With the development of new drugs and biopharmaceuticals that require strict temperature control to maintain their efficacy, there is a growing need for reliable cold chain infrastructure to ensure the safe and timely delivery of these products to end-users. Additionally, the rise of e-commerce platforms and online grocery delivery services in Asia-Pacific has created opportunities for companies to invest in cold chain logistics to meet the growing demand for fresh and frozen foods.

Cold Chain Equipment Market Players

Some of the prominent cold chain equipment market companies are Zanotti SpA, Thermo King, Intertecnica, Carrier Transicold, Bitzer, Fermod, ebm-papst Group, Incold S.p.A., CAREL, Viessmann, Kelvion, Schmitz Cargobull, Rivacoldsrl, CHG Europe BV, and Kason Industries, Inc.

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