Europe Truck Refrigeration Unit Market (2024-2029)

The study encompassed four primary tasks to determine the present and future scope of the truck refrigeration unit market. Initially, extensive secondary research was conducted to gather data on the market, its related sectors, and overarching industries. Subsequently, these findings, along with assumptions, were corroborated and validated through primary research involving industry experts across the value chain. Employing bottom-up methodology, the complete market size was estimated. Following this, a market breakdown and data triangulation approach were utilized to determine the size of specific segments and subsegments within the market.

Secondary Research

The secondary sources referred to for the truck refrigeration unit market study are directly dependent on end-use industry growth. Truck refrigeration unit market sales and end-use industry demand are derived through secondary sources such as the Japan Automobile Manufacturing Association Inc. (JAMA), Society of Indian Automobile Manufacturers (SIAM), China Association of Automobile Manufacturers (CAAM), Canada Statistics, Korea Automobile Manufacturers Association (KAMA), International Energy Agency (IEA), International Organization of Motor Vehicle Manufacturers (OICA), European Automobile Manufacturers Association (ACEA), and Department of Transportation (US - DOT), corporate filings such as annual reports, investor presentations, and financial statements, and paid repository. Historical production data has been collected and analysed, and the industry trend is considered to arrive at the forecast, further validated by primary research.

Primary Research

In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, such as CXOs, vice presidents, directors from business development, marketing, product development/innovation teams, and related key executives from various key companies. Various system integrators, industry associations, independent consultants/industry veterans, and key opinion leaders were also interviewed.

Primary interviews have been conducted to gather insights such as truck refrigeration unit market sizing estimation and forecast, future technology trends, and upcoming technologies in the truck refrigeration unit market. Data triangulation of all these points was done using the information gathered from secondary research and model mapping. Stakeholders from the demand and supply sides have been interviewed to understand their views on the aforementioned points.

Primary interviews have been conducted with market experts from the demand-side (end-use industries) and supply-side (Truck Refrigeration Unit providers) across three regions: Americas, Europe, and Asia Pacific. Approximately 70% and 30% of the primary interviews were conducted on the refrigeration unit manufacturers and dealer/distributors sides, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. After communicating with primaries, we have strived to cover various departments within organizations, such as sales and operations, to provide a holistic viewpoint in our report. After interacting with industry experts, we have also conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This and the in-house subject matter experts’ opinions have led us to the conclusions described in the remainder of this report.

Note: Others in designation include sales, marketing, and product managers, Others in company tiers include end-use organizations
Company tiers are based on the supply chain; the company's revenue is not considered.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

As mentioned below, a detailed market estimation approach was followed to estimate and validate the value and volume of the truck refrigeration unit market and other dependent submarkets:

• The bottom-up approach was used to estimate and validate the truck refrigeration unit market size by vehicle type. The country-level sales of each vehicle type (LCVs, MHCVs, and Trailer) were referred from country-level manufacturing associations and secondary sources (company publications, articles, etc.).
• The sales forecast for this vehicle type is based on factors such as country-wise macroeconomic indicators, emission regulations, growth in the automotive industry, GDP growth, and government spending.
• The penetration of refrigeration units in each vehicle type as a percentage of each total sale of the respective vehicles is referred to from secondary sources and then validated through primary interviews with industry experts (B).
• The forecast of each refrigeration unit-equipped vehicle type is based on factors such as its usability, OEM-wise developments/investments for the vehicle type, growth of cold chain logistics, last-mile delivery, and growth in quick commerce, among others.
• The country-level truck refrigeration unit market by vehicle type (volume) was then multiplied by the country-level average selling price (ASP) of each vehicle type equipped with a refrigeration unit to get the country-level vehicle type market by value.
• The summation of the country-level market would give the regional level. Then, further additions provide the global truck refrigeration unit market by vehicle type in terms of volume and value.
• The top-down approach is used to estimate the type by industry, application, power source, and mode of operation at the regional level.
• All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative and qualitative data.
• The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.

Truck Refrigeration Unit Market : Bottom-Up Approach

Truck Refrigeration Unit Market : Top-Down Approach

Data Triangulation

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified by primary sources. All parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and enhanced with detailed inputs and analysis from MarketsandMarkets and presented in the report.