According to the latest report by IMARC Group, titled “India Refrigerated Trucks Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The India refrigerated trucks market is expected to exhibit a CAGR of 18.8% during 2022-2027.
Refrigerated trucks are uniquely designed for transporting pharmaceutical products and perishable goods, such as fruits, vegetables, seafood, and meat. They are equipped with refrigeration units and equipment and a polyurethane insulated freight box to preserve goods during shipment. They possess direct drive systems that avoid the added cost of a secondary diesel engine and efficiently transport goods. They are used to sell perfumes and colognes as refrigerated trucks prevent chemicals from heating up and changing the scent.
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India Refrigerated Trucks Market Trends and Drivers:
At present, there is a rise in the demand for high-quality perishable food products in India, such as meat, poultry, fish, eggs, dairy products, and cooked leftovers. This, along with the burgeoning food and beverage (F&B) industry, represents one of the key factors driving the market. Besides this, there is an increase in the demand for ready-to-eat (RTE), frozen, and processed products due to inflating income of individuals in the country. This, coupled with the improvement of roads for smooth transportation, is contributing to the growth of the market. In addition, the Government of India is undertaking various initiatives to set up cold storage and organized supply chains for expanding business and generating job opportunities. They are also granting subsidies to organizations for investing in the refrigeration market, which is strengthening the market growth. Moreover, the emerging trend of online food delivery and the expanding e-commerce industry in the country is bolstering the growth of the market.
India Refrigerated Trucks Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Carrier Airconditioning & Refrigeration Limited (Carrier Global Corporation)
- Ice Make Refrigeration Limited
- JCBL Limited
- KOLD SEAL
- Motherson Sumi System Ltd
- Subros Limited
- Surin International Private Limited
- Tata Motors Limited
- Trane Technologies India Pvt Ltd
The report has segmented the market on the basis on region, vehicle capacity GVW, sector, body type and application.
Breakup by Vehicle Capacity GVW:
- 02 – 4.5 Tons
- 7 – 7.5 Tons
- 11-12 Tons
- 18.5 Tons
- 28.5 Tons
- 35 Tons
Breakup by Sector:
- Organized Sector
- Unorganized Sector
Breakup by Body Type:
- Fully Built
- Customizable
Breakup by Application:
- Meat and Fish
- Dairy Products
- Fruits & Vegetables
- Confectionaries
- Pharmaceutical
- Others
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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