Fact.MR, in its recently published market research report, provides an in-depth analysis of the Truck Refrigeration Unit Market included the anticipated growth pattern of the market over the forecast period 2019 to 2029. A detailed assessment of the various micro and macro-economic factors that are likely to shape the course of the Truck Refrigeration Unit Market over the next decade is enclosed in the report.
Further, the methodical and systematic approach adopted by the analyst’s while curating the report ensures that the data in the report is insightful, relevant, and a valuable tool for our clients to gain a competitive advantage in the current and future market landscape.
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The competitive assessment included in the report throws light on the business strategies incorporated by leading market players operating in the Truck Refrigeration Unit Market. The comprehensive study provides a bird’s eye view of the business operations of top-tier market players along with relevant graphs, figures, and tables.
Important questions answered in the report:
- How has the Truck Refrigeration Unit market adapted to the evolving regulatory landscape in each region?
- Why is the adoption of end use 1 expected to slow down over the forecast period?
- In the current scenario, which region offers market players promising growth opportunities?
- Which manufacturing technique is cost-effective and the most efficient?
- What are the recent mergers and acquisitions that have taken place in the Truck Refrigeration Unit Market?
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market players in the years to come.
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Developed Regions Continue to Retain Market Lead
Europe, closely trailed by North America has been leading the truck refrigeration units market, owing to the striking focus of the region on cutting greenhouse gas emissions by a worth considering percentage, while boosting the food security at the same time. Many products are distributed cold as they are temperature sensitive, which in turn has been creating a traction for a reliable cold chain to maintain the quality and safety of the storage, handling as well as transport. In view of the fact that power refrigeration leads to loss of 360m tons of food annually worldwide, development and demand for technology-driven truck refrigeration units are highly likely to grow considerably in the years to come.
North America, on the other hand also continues to remain the hot bed of opportunities for companies that are operating in the truck refrigeration units market. Increased focus of North American trade agencies, associations, and organizations on developing cold chain network through improved regulatory framework, encouraging spending in the development of supporting infrastructure for cold chain networks, and highly skilled workforce, is favoring market growth.
Mapping the Truck Refrigeration Units Market Battlefield
The market for truck refrigeration units market is highly consolidated with the top two players, including Carrier Corporation (UTC) and Thermo King Corporation (Ingersoll Rand) collectively accounting for ~70% growth share. Growing number of market enthusiasts and local companies continue to enter into collaboration with the leading market players to seamlessly operate their manufacturing facilities. Whereas, the market frontrunners are increasingly leveraging advanced technology to develop cost competitive and energy-efficient offerings, to cater to a growing demand from the food and the beverages industry. The established players in truck refrigeration units market have also placed their focus on strengthening their direct presence in the local markets through mergers and acquisitions with regional players.
New, improved and cost-competitive product development is and will continue to remain the key area of focus for the truck refrigeration units market leaders that are vying to gain an extra edge in the market. For instance, in March 2019, a leading player in truck refrigeration unit market- Carrier Transicold introduced a new truck refrigeration unit named Supra S6, which is specifically designed for small- to medium-sized trucks. Supra S6’s high-performance smart diesel engine complies with the Environmental Protection Agency Tier 4 emissions standard and offers three speeds instead of two to enhance fuel savings.
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