Truck Refrigeration Unit Market by Type (Roof Mount, Split), Industry (Frozen Food, Pharma & Chemical, Ambulance & Passenger Transport), Bus Length (<8, 8-12,>12m), Trailer Size (20 & 40ft), Application, Vehicle Type and Region - Global Forecast to 2025
[172 Pages Report] The Truck Refrigeration Unit Market is estimated to be USD 10.5 billion in 2018 and is projected to reach USD 15.0 billion by 2025, at a CAGR of 5.21%. The demand for refrigeration unit is driven by the increasing vehicle sales, falling transportation cost, and rising cross-country imports, and exports of perishable goods.
The 20-feet trailer segment is estimated to be the largest and fastest growing trailer refrigeration unit market during the forecast period
20-feet trailers are the most popular sized trailers, which are widely used for the transportation of various goods along with perishable items. The 20-feet trailers offer advantages of low cost, improved fuel efficiency, better control, and maneuverability among others. With the increased goods’ trade worldwide, the 20-feet trailers are an ideal choice for goods transportation owing to the aforementioned advantages. According to the United Nations Conference on Trade and Development (UNCTAD), the global container transportation market has increased from 118.0 million Twenty-foot Equivalent Units (TEUs) in 2006 to 180.0 million TEUs in 2016, at a CAGR of 4.31%. Owing to its benefits over the 40-feet trailer, such as minimal cost difference with almost similar weight carrying capacity, the 20-feet trailers market is anticipated to remain prominent in the future.
The frozen food segment is expected to be the largest contributor in the LCV refrigeration unit market, by industry verticals, during the forecast period.
For transportation of frozen foods and vegetables, pickup trucks are generally used for the transportation within intracity and intercity distances. The suppliers offer several temperature variations options ranging from -25 degree centigrade to +5 degree centigrade. Hence it becomes useful for a variety of items such as meat, ice-cream, dairy products, and frozen snacks. Thus, owing to changing consumer preferences and cross culture diversification, the frozen packed eatable items market is expected to grow worldwide that would consequently boost the LCVs refrigeration units market to cater to the requirement for frozen foods.
Asia Oceania is expected to account for the largest market size during the forecast period
The Asia Pacific region is projected to lead the truck refrigeration market during the forecast period owing to the highest consumption of frozen and chilled products compared to other regions such as the Americas and EMEA. Commercial vehicle sales in the Asia Pacific region has increased by 12% from 2015 to 2017. Moreover, increasing investments in the development of smart cities in the developing countries, such as China and India, is also driving the air conditioning unit market for bus. Further, changing lifestyles, increasing spending power, and demand for convenience, among others, are driving the market for frozen food, snacks, fresh vegetables, which, in turn, is driving the refrigeration unit market.
Some of the key players in the truck refrigeration unit market are Daikin (Japan), Carrier (US), Thermo King (US), Denso (Japan), Webasto (Germany), Mobile Climate Control (Sweden), Subros (India), Sanden (Japan), Klinge (US), and Utility Trailer (US). Carrier is anticipated to be a dominant player in this market. Carrier adopted the strategies of new product developments, supply contracts, joint ventures, and collaborations to retain its leading position in the global market. Carrier is following the strategy of strengthening the product portfolio and global presence by building customer relationships to maintain its leadership position in truck refrigeration unit market. This has helped the company left a mark not only in the current market but also in emerging markets such as India and China.
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|
Report Metric |
Details |
|
Market Size Available for Years |
2016–2025 |
|
Base Year Considered |
2017 |
|
Forecast Period |
2018–2025 |
|
Forecast Units |
Value (USD million/billion) and Volume (’000/million units) |
|
Segments Covered |
Vehicle type, system type, application, industry verticals, bus length, trailer size, and region |
|
Geographies Covered |
Asia Pacific, EMEA, the Americas |
|
Companies Covered |
Daikin (Japan), Carrier (US), Thermo King (US), Denso (Japan), Webasto (Germany) |
This research report categorizes the truck refrigeration unit market based on vehicle type, type, application, industry verticals, bus length, trailer size, and region.
Truck Refrigeration Unit Market, By Vehicle Type
- LCV
- M&HCV
- Trailer (Container)
- Bus
LCV Refrigeration Unit Market, By Type
- Split system
- Roof mount system
LCV Refrigeration Unit Market, By Application
- Frozen
- Chilled
LCV Refrigeration Unit Market, By Industry Vertical
- Frozen food
- Pharma drugs & chemicals
- Ambulance & passenger transport
Bus Refrigeration Unit Market, By Bus Length
- <8 meters
- 8-12 meters
- >12 meters
Trailer (Container) Refrigeration unit Market, By Size
- 20-feet
- 40-feet
- Others
Truck Refrigeration Unit Market, By Region
- The Americas
- EMEA
- Asia Pacific
Key questions addressed by the report
- Which type of refrigeration unit is preferred in LCV, and which type will dominate in the future?
- How are industry players addressing the challenge of keeping low maintenance cost and energy efficient systems?
- What is the adoption rate of refrigeration units in M&HCV and trailers across Asia Pacific, EMEA, and the Americas?
- What is the market size of the air conditioning unit for buses, in terms of value and volume?
- Which industry type will dominate the market in the coming years?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 17)
1.1 Objectives
1.2 Market Definition
1.3 Market Scope
1.3.1 Years Considered for the Study
1.4 Currency & Pricing
1.5 Package Size
1.6 Limitations
1.7 Stakeholders
2 Research Methodology (Page No. - 21)
2.1 Research Data
2.2 Secondary Data
2.2.1 Key Secondary Sources for Vehicle Production
2.2.2 Key Secondary Sources for Market Sizing
2.2.3 Key Data From Secondary Sources
2.3 Primary Data
2.3.1 Sampling Techniques & Data Collection Methods
2.3.2 Primary Participants
2.4 Market Size Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Market Breakdown and Data Triangulation
2.6 Assumptions
3 Executive Summary (Page No. - 31)
4 Premium Insights (Page No. - 34)
4.1 Attractive Opportunities in Truck Refrigeration Unit Market
4.2 Market, By Vehicle Type
4.3 Asia Pacific - Market, By Vehicle Type & Country
4.4 Market, By Country
4.5 LCV Refrigeration Unit Market, By Type
4.6 LCV Refrigeration Unit Market, By Industry
4.7 LCV Refrigeration Unit Market, By Application
4.8 Trailer Refrigeration Unit Market, By Capacity
4.9 Bus Refrigeration Unit Market, By Length
5 Market Overview (Page No. - 40)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Frozen and Chilled Commodities All Over the World
5.2.1.1.1 Food & Beverage Industry
5.2.1.1.2 Pharmaceutical Industry
5.2.1.1.3 Chemical Industry
5.2.2 Restraints
5.2.2.1 Cabin Comfort is No More an Optional Technology
5.2.3 Opportunities
5.2.3.1 Increasing Sales of Electric Buses
5.2.3.2 Technological Innovations in Refrigerated Systems and Equipment
5.2.4 Challenges
5.2.4.1 Complexity in Working/Mechanical Architecture
5.2.4.2 High Installation Cost of Energy-Efficient Ac System in Retrofit
6 Industry Trends in Truck Refrigeration Unit Market (Page No. - 48)
6.1 Introduction
6.2 Revenue Impact Analysis
6.3 Pricing Analysis
6.4 Porter’s Five Forces
7 Light Commercial Vehicle Refrigeration Unit Market, By Type (Page No. - 50)
Note - The Chapter is Further Segmented By Type (Roof Mount and Split) at Regional Level and Considered Regions are Asia Pacific, EMEA and Americas
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions & Definitions
7.1.3 Industry Insights
7.2 Split System
7.2.1 Asia Pacific is Estimated to Be Dominating Region During the Forecast Period
7.3 Roof Mount System
7.3.1 Americas is the Dominating Region
8 Light Commercial Vehicle Refrigeration Unit Market, By Application (Page No. - 56)
Note - The Chapter is Further Segmented By Application (Frozen & Chilled) at Regional Level and Considered Regions are Asia Pacific, EMEA and Americas
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions & Definitions
8.1.3 Industry Insights
8.2 Frozen
8.2.1 Asia Pacific is the Fastest Growing Region
8.3 Chilled
8.3.1 Asia Pacific is the Dominating Region During the Forecast Period
9 Light Commercial Vehicle Refrigeration Unit Market, By Industry Vertical (Page No. - 62)
Note - The Chapter is Further Segmented By Industry Vertical (Frozen Food, Pharma Drugs & Chemicals, Ambulance & Passenger Transport) at Regional Level and Considered Regions are Asia Pacific, EMEA and Americas
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions & Definitions
9.1.3 Industry Insights
9.2 Frozen Food
9.2.1 Asia Pacific is the Fastest Growing Region in Frozen Food Refrigeration Unit Market
9.3 Pharma Drugs & Chemicals
9.3.1 The Americas is the Dominating Region During the Forecast Period
9.4 Ambulance & Passenger Transport
9.4.1 Asia Pacific is the Dominating Region During the Forecast Period
10 Bus Air Conditioning Unit Market, By Bus Length (Page No. - 70)
Note - The Chapter is Further Segmented By Bus Length (<8, 8-12, >12-Meter) at Regional Level and Considered Regions are Asia Pacific, EMEA and Americas
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions & Definitions
10.1.3 Industry Insights
10.2 <8-Meter
10.2.1 EMEA is the Fastest Growing Region During the Forecast Period
10.3 8–12-Meter
10.3.1 Asia Pacific is the Dominating Region During the Forecast Period
10.4 >12-Meter
10.4.1 >12-Meter is the Fastest Growing Segment During the Forecast Period
11 Truck Refrigeration Unit Market, By Trailer & M&HCV (Page No. - 77)
Note - Trailer Market is Further Segmented By Size (20, 40-Feet and Others) at Regional Level and Considered Regions are Asia Pacific, EMEA and Americas
Note - M&HCV Makret is Further Segmeted at Regional Level and Considered Regions are Asia Pacific, EMEA and Americas
11.1 Introduction
11.2 Trailers (Containers)
11.2.1 Introduction
11.2.2 Research Methodology
11.2.3 Assumptions & Definitions
11.2.4 Industry Insights
11.2.5 20-Feet Trailer (Container)
11.2.5.1 20-Feet Trailer is the Fastest as Well as Largest Trailer Segment During the Forecast Period
11.2.6 40-Feet Trailer (Container)
11.2.6.1 Americas is the Fastest Growing Region During the Forecast Period
11.2.7 Others
11.2.7.1 Asia Pacific is the Largest Market During the Forecast Period
11.3 Medium & Heavy Commercial Vehicles
11.3.1 Americas is the Fastest Growing Region During the Forecast Period
12 Truck Refrigeration Unit Market, By Vehicle Type (Page No. - 86)
Note - The Chapter is Further Segmented By Vehicle Type (LCV, M&HCV, Trailer (Container), Bus at Regional Level and Considered Regions are Asia Pacific, EMEA and Americas
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions & Definitions
12.1.3 Industry Insights
12.2 Light Commercial Vehicle (LCV)
12.2.1 Light Commercial Vehicles is the Largest Refrigeration Unit Market By Vehicle Type
12.3 Medium & Heavy Commercial Vehicle (M&HCV)
12.3.1 M&HCV is the Fastest Growing Market in Truck Refrigeration Unit Market By Vehicle Type
12.4 Trailer (Container)
12.4.1 Americas is the Fastest Growing Market During the Forecast Period
12.5 Bus
12.5.1 Asia Pacific is the Dominating Region During the Forecast Period
13 Truck Refrigeration Unit Market, By Region (Page No. - 95)
Note - The Chapter is Further Segmented at Regional and Country Level By Vehicle Type and Considered Vehicle Types are LCV, M&HCV, Trailer (Container) and Bus
13.1 Introduction
13.1.1 Research Methodology
13.1.2 Assumptions & Definitions
13.1.3 Industry Insights
13.2 Asia Pacific
13.2.1 China
13.2.1.1 China is the Largest Market in Asia Pacific Region
13.2.2 India
13.2.2.1 India is the Fastest Growing Market in Asia Pacific Region
13.2.3 Japan
13.2.3.1 Japan is the Second Largest Market in Asia Pacific Region
13.2.4 South Korea
13.2.4.1 M&HCV is the Fastest Growing Market in South Korea
13.2.5 Thailand
13.2.5.1 LCV is the Dominating Vehicle Type in Thailand Market
13.3 Europe Middle East & Africa (EMEA)
13.3.1 Germany
13.3.1.1 Germany is the Largest Market in the EMEA Region
13.3.2 UK
13.3.2.1 M&HCV is the Fastest Growing Market in Asia Pacific Region
13.3.3 France
13.3.3.1 France is the Second Largest Market in EMEA Region
13.3.4 Spain
13.3.4.1 LCV is the Dominating Market in Spain Market
13.3.5 Turkey
13.3.5.1 LCV is the Largest Market in Turkey Market
13.3.6 Russia
13.3.6.1 M&HCV is the Fastest Growing Market in Russia Market
13.3.7 South Africa
13.3.7.1 LCV is the Largest Market in South Africa Market
13.4 Americas
13.4.1 US
13.4.1.1 US is the Largest Market in Americas Region
13.4.2 Mexico
13.4.2.1 LCV is the Largest Market in Mexico Market
13.4.3 Canada
13.4.3.1 Canada is the Second Largest Market in Americas Region
13.4.4 Brazil
13.4.4.1 LCV is the Largest Market in Brazil Market
14 Competitive Landscape (Page No. - 124)
14.1 Overview
14.2 Truck Refrigeration Unit Market: Market Share Analysis
14.3 Competitive Leadership Mapping
14.3.1 Introduction
14.3.2 Visionary Leaders
14.3.3 Innovators
14.3.4 Dynamic Differentiators
14.3.5 Emerging Companies
14.4 Competitive Leadership Mapping
14.4.1 Truck Refrigeration Unit Manufacturer
14.4.2 Competitive Benchmarking
14.4.2.1 Company-Wise Product Offering Analysis
14.4.2.2 Company-Wise Business Strategy Analysis
14.5 Competitive Scenario
14.5.1 Expansions
14.5.2 New Product Developments
14.5.3 Supply Contracts/Joint Ventures/Partnerships/ Collaborations
15 Company Profiles (Page No. - 136)
(Business Overview, Products Offerings, Recent Developments & SWOT Analysis)*
15.1 Denso
15.2 Carrier (United Technologies)
15.3 Thermo King (Ingersoll Rand)
15.4 Daikin
15.5 Webasto
15.6 Mitsubishi Heavy Industries
15.7 Mobile Climate Control (VBG Group)
15.8 Subros
15.9 Sanden
15.10 Utility Trailer
15.11 Additional Cps
15.11.1 The Americas
15.11.1.1 Klinge
15.11.1.2 American Cooling Technology
15.11.2 Europe, Middle East & Africa (EMEA)
15.11.2.1 Grayson Thermal System
15.11.2.2 Schmitz
15.11.2.3 Sinclair Corporation
15.11.2.4 Fahrzeugwerk Bernard Krone
15.11.2.5 Dometic
15.11.3 Asia Pacific
15.11.3.1 Singamas Container
15.11.3.2 Songz Automobile Air Conditioning
15.11.3.3 Kidron
*Details on B Business Overview, Products Offerings, Recent Developments & SWOT Analysis Might Not Be Captured in Case of Unlisted Companies.
16 Appendix (Page No. - 165)
16.1 Insights of Industry Experts
16.2 Discussion Guide
16.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
16.4 Available Customizations
16.4.1 LCV Refrigeration Unit Market, By Type & Country
16.4.1.1 Roof Mount System
16.4.1.2 Split System
16.4.2 M&HCV Refrigeration Unit Market, By Temperature
16.4.2.1 Single Temperature
16.4.2.2 Multi Temperature
16.5 Related Reports
16.6 Author Details
List of Tables (94 Tables)
Table 1 Currency Exchange Rates (W.R.T. Per USD)
Table 2 Pricing of Refrigeration Unit, By Vehicle Type & Region, 2016–2017 (USD)
Table 3 LCV Refrigeration Unit Market, By Type, 2016–2025 (Thousand Units)
Table 4 LCV Refrigeration Unit Market, By Type, 2016–2025 (USD Million)
Table 5 Split System: LCV Refrigeration Unit Market, By Region, 2016–2025 (Thousand Units)
Table 6 Split System: LCV Refrigeration Unit Market, By Region, 2016–2025 (USD Million)
Table 7 Roof Mount: LCV Refrigeration Unit Market, By Region, 2016–2025 (Thousand Units)
Table 8 Roof Mount: LCV Refrigeration Unit Market, By Region, 2016–2025 (USD Million)
Table 9 LCV Refrigeration Unit Market, By Application, 2016–2025 (Thousand Units)
Table 10 LCV Refrigeration Unit Market, By Application, 2016–2025 (USD Million)
Table 11 Frozen: LCV Refrigeration Unit Market, By Region, 2016–2025 (Thousand Units)
Table 12 Frozen: LCV Refrigeration Unit Market, By Region, 2016–2025 (USD Million)
Table 13 Chilled: LCV Refrigeration Unit Market, By Region, 2016–2025 (Thousand Units)
Table 14 Chilled: LCV Refrigeration Unit Market, By Region, 2016–2025 (USD Million)
Table 15 LCV Refrigeration Unit Market, By Industry Verticals, 2016–2025 (Thousand Units)
Table 16 LCV Refrigeration Unit Market, By Industry Verticals, 2016–2025 (USD Million)
Table 17 Frozen Food: LCV Refrigeration Unit Market, By Region, 2016–2025 (Thousand Units)
Table 18 Frozen Food: LCV Refrigeration Unit Market, By Region, 2016–2025 (USD Million)
Table 19 Pharma Drugs and Chemicals: LCV Refrigeration Unit Market, By Region, 2016–2025 (Thousand Units)
Table 20 Pharma Drugs and Chemicals: LCV Refrigeration Unit Market, By Region, 2016–2025 (USD Million)
Table 21 Ambulance & Passenger Transport: LCV Refrigeration Unit Market, By Region, 2016–2025 (Thousand Units)
Table 22 Ambulance & Passenger Transport: LCV Refrigeration Unit Market, By Region, 2016–2025 (USD Million)
Table 23 Bus Air Conditioning Unit Market, By Length, 2016–2025 (Thousand Units)
Table 24 Bus Air Conditioning Unit Market, By Length, 2016–2025 (USD Million)
Table 25 <8-Meter: Bus Air Conditioning Unit Market, By Region, 2016–2025 (Thousand Units)
Table 26 <8-Meter: Bus Air Conditioning Unit Market, By Region, 2016–2025 (USD Million)
Table 27 8-12-Meter: Bus Air Conditioning Unit Market, By Region, 2016–2025 (Thousand Units)
Table 28 8-12-Meter: Bus Air Conditioning Unit Market, By Region, 2016–2025 (USD Million)
Table 29 >12-Meter: Bus Air Conditioning Unit Market, By Region, 2016–2025 (Million Units)
Table 30 >12-Meter: Bus Air Conditioning Unit Market, By Region, 2016–2025 (USD Million)
Table 31 Trailer Refrigeration Unit Market, By Size, 2016–2025 (Thousand Units)
Table 32 Trailer Refrigeration Unit Market, By Size, 2016–2025 (USD Million)
Table 33 20-Feet: Trailer Refrigeration Unit Market, By Region, 2016–2025 (Thousand Units)
Table 34 20-Feet: Trailer Refrigeration Unit Market, By Region, 2016–2025 (USD Million)
Table 35 40-Feet: Trailer Refrigeration Unit Market, By Region, 2016–2025 (Thousand Units)
Table 36 40-Feet: Trailer Refrigeration Unit Market, By Region, 2016–2025 (USD Million)
Table 37 Others: Trailer Refrigeration Unit Market, By Region, 2016–2025 (Thousand Units)
Table 38 Others: Trailer Refrigeration Unit Market, By Region, 2016–2025 (USD Million)
Table 39 M&HCV Refrigeration Unit Market, By Region, 2016–2025 (Thousand Units)
Table 40 M&HCV Refrigeration Unit Market, By Region, 2016–2025 (USD Million)
Table 41 Truck Refrigeration Unit Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 42 Market, By Vehicle Type, 2016–2025 (USD Million)
Table 43 LCV: Market, By Region, 2016–2025 (Thousand Units)
Table 44 LCV: Market, By Region, 2016–2025 (USD Million)
Table 45 M&HCV: Market, By Region, 2016–2025 (Thousand Units)
Table 46 M&HCV: Market, By Region, 2016–2025 (USD Million)
Table 47 Trailer: Market, By Region, 2016–2025 (Thousand Units)
Table 48 Trailer: Market, By Region, 2016–2025 (USD Million)
Table 49 Bus: Air Conditioning Unit Market, By Region, 2016–2025 (Thousand Units)
Table 50 Bus: Air Conditioning Unit Market, By Region, 2016–2025 (USD Million)
Table 51 Market, By Region, 2016–2025 (Thousand Units)
Table 52 Truck Refrigeration Unit Market, By Region, 2016–2025 (USD Million)
Table 53 Asia Pacific: Market, By Country, 2016–2025 (Thousand Units)
Table 54 Asia Pacific: Market, By Country, 2016–2025 (USD Million)
Table 55 China: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 56 China: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 57 India: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 58 India: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 59 Japan: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 60 Japan: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 61 South Korea: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 62 South Korea: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 63 Thailand: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 64 Thailand: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 65 EMEA: Market, By Country, 2016–2025 (Thousand Units)
Table 66 EMEA: Market, By Country, 2016–2025 (USD Million)
Table 67 Germany: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 68 Germany: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 69 UK: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 70 UK: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 71 France: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 72 France: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 73 Spain: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 74 Spain: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 75 Turkey: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 76 Turkey: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 77 Russia: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 78 Russia: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 79 South Africa: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 80 South Africa: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 81 Americas: Truck Refrigeration Unit Market, By Country, 2016–2025 (Thousand Units)
Table 82 Americas: Market, By Country, 2016–2025 (USD Million)
Table 83 US: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 84 US: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 85 Mexico: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 86 Mexico: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 87 Canada: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 88 Canada: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 89 Brazil: Market, By Vehicle Type, 2016–2025 (Thousand Units)
Table 90 Brazil: Market, By Vehicle Type, 2016–2025 (USD Million)
Table 91 Mergers & Acquisitions, 2014–2017
Table 92 Expansions, 2015–2018
Table 93 New Product Developments, 2015–2018
Table 94 Supply Contracts/Joint Ventures/Partnerships/Collaborations, 2017–2018
List of Figures (53 Figures)
Figure 1 Market Segmentation: Truck Refrigeration Unit Market
Figure 2 Market: Research Design
Figure 3 Research Design Model
Figure 4 Breakdown of Primary Interviews
Figure 5 Bottom-Up Approach: Vehicle Type & Region
Figure 6 Top-Down Approach: Industry Vertical
Figure 7 Data Triangulation
Figure 8 Truck Refrigeration Unit: Market Outlook
Figure 9 Truck Refrigeration Unit Market, By Region, 2018 vs 2022 vs 2025 (USD Million)
Figure 10 Attractive Market Opportunities in the Roof Mounted the Market
Figure 11 LCV Expected to Lead the Market, By Vehicle Type, 2018 Vs.2025 (USD Billion)
Figure 12 LCV and China Accounted for the Largest Share in the Asia Pacific Market, By Vehicle Type and Country, Respectively, 2018 (USD Billion)
Figure 13 India, Thailand, and Brazil Expected to Grow at the Fastest Rate During the Forecast Period
Figure 14 Roof Mount System Segment Expected to Hold the Largest Market Share for Light Commercial Vehicle, By Type, 2018 vs 2025 (USD Billion)
Figure 15 Frozen Food Industry to Hold the Largest Market Share in the LCV Segment, 2018 vs 2025 (USD Billion)
Figure 16 Chilled Refrigeration Units Expected to Overtake the Frozen By 2025, 2018 vs 2025 (USD Billion)
Figure 17 20-Feet Trailer Segment is Anticipated to Lead the Trailer Refrigeration Market, 2018 vs 2025 (USD Billion)
Figure 18 8–12-Meter is Estimated to Be the Largest Market During the Forecast Period, 2018 vs 2025 (USD Billion)
Figure 19 Truck Refrigeration Unit: Market Dynamics
Figure 20 US Product Shipments of Frozen Specialty Foods, 2005–2016, (USD Billion)
Figure 21 Export of Pharmaceutical Products, By Country, 2016 (USD Billion)
Figure 22 Import of Pharmaceutical Products, By Country, 2016 (USD Billion)
Figure 23 Chemical Industry, Export vs Import, 2012–2016 (USD Billion)
Figure 24 Electric Buses Sales, 2018–2022–2025 (Thousand Units)
Figure 25 Revenue Impact Analysis, By Company
Figure 26 Porter’s Five Forces Analysis: Truck Refrigeration Unit Market
Figure 27 LCV Refrigeration Unit Market, By Type, 2018 vs 2022 vs 2025 (USD Million)
Figure 28 LCV Refrigeration Unit Market, By Application, 2018 vs 2022 vs 2025 (USD Million)
Figure 29 Light Commercial Vehicle Refrigeration Unit Market, By Industry Verticals, 2018 vs 2022 vs 2025 (USD Billion)
Figure 30 Bus Air Conditioning Unit Market, By Length, 2018–2025 (USD Million)
Figure 31 Trailer Refrigeration Unit Market, By Trailer Size, 2018 vs 2022 vs 2025 (USD Million)
Figure 32 M&HCV Refrigeration Unit Market, By Region, 2018 vs 2022 vs 2025 (USD Million)
Figure 33 Market, By Vehicle Type, 2018 vs 2022 vs 2025 (USD Million)
Figure 34 Truck Refrigeration Unit Market, By Region, 2018 vs 2022 vs 2025 (USD Billion)
Figure 35 Asia Pacific: Market Snapshot
Figure 36 EMEA: Market, By Country, 2018 vs 2022 vs 2025 (USD Million)
Figure 37 Americas: Market Snapshot
Figure 38 Companies Adopted New Product Development as the Key Growth Strategy, 2014–2018
Figure 39 Truck Refrigeration Unit: Market Share Analysis, 2017
Figure 40 Denso: Company Snapshot
Figure 41 Denso: SWOT Analysis
Figure 42 Carrier (United Technologies): Company Snapshot
Figure 43 Carrier (United Technologies): SWOT Analysis
Figure 44 Thermo King (Ingersoll Rand): Company Snapshot
Figure 45 Thermo King (Ingersoll Rand): SWOT Analysis
Figure 46 Daikin: Company Snapshot
Figure 47 Daikin: SWOT Analysis
Figure 48 Webasto: Company Snapshot
Figure 49 Webasto: SWOT Analysis
Figure 50 Mitsubishi Heavy Industries: Company Snapshot
Figure 51 Mobile Climate Control (VBG Group)
Figure 52 Subros: Company Snapshot
Figure 53 Sanden: Company Snapshot
The study involves 4 main activities to estimate the market size of the truck refrigeration unit. Exhaustive secondary research was done to collect information on the market, such as vehicle type, system type, applications, and industry verticals among others. The next step was to validate these findings, assumptions, and market analysis with industry experts across value chains through primary research. Both bottom-up and top-approaches were employed to estimate the global market size for different segments considered under this study.
Secondary Research
The secondary sources referred for this research study include automotive industry organizations such as the Organisation Internationale des Constructeurs d'Automobiles (OICA), European Automobile Manufacturers Association (ACEA); corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and automotive associations. Secondary data has been collected and analyzed to arrive at the overall market size, which is further validated by primary research.
Primary Research
Extensive primary research has been conducted after acquiring an understanding of the truck refrigeration unit market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand- (end user- vehicle owners, fleet owners) and supply-side (mobile air conditioning system manufacturers) across major regions, namely, North America, Europe, Asia Oceania, and the Rest of World. Approximately 20% and 80% of primary interviews have been conducted from the demand- and supply-side, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primaries, we have strived to cover various departments within organizations, such as sales, operations, and administration, 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, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Bottom-up approach
The bottom-up approach has been used to estimate and validate the size of the truck refrigeration unit market. The global market size by vehicle type, in terms of volume, is derived by multiplying the country-level sales of each vehicle type (LCV, medium & heavy commercial vehicle, trailer (container), and bus) with country-level penetration of refrigeration unit (which is analyzed using secondary research and validated with industry experts). The country-level market size, by value, is multiplied with country-level Average Selling Price (ASP) of the refrigeration unit for each vehicle type to get the country-level market, by value. The summation of the country-level market would give the regional level, and then further addition provides the truck refrigeration unit market, by vehicle type- LCV, medium & heavy commercial vehicle, trailer (container), and bus.
Top-down approach
The top-down approach has been used to estimate and validate the size of the light commercial vehicles (LCV) truck refrigeration unit market, by industry, in terms of volume and value. The global LCV refrigeration unit market size, in terms of volume (which is derived from the bottom-up approach), has been derived by identifying the percentage breakup of the refrigeration unit for each industry-wise for light commercial vehicles. Further, regional-level market breakup in terms of percentage for each industry to get the light commercial vehicle refrigeration units’ market size, by industry (frozen food, pharma drugs & chemicals, and ambulance & passenger transport) and region, in terms of volume. A similar methodology has been used to derive the truck refrigeration units for LCV, by type (roof mount & split), and application (frozen and chilled), trailers (containers), by capacity (20 feet, 40 feet, and others), and bus, by size (<8 meter, 8–12 meter, and >12 meter) in terms of volume and value.
Data Triangulation
All percentage shares, splits, and breakdowns have been determined using secondary sources and verified by primary sources. All parameters that are said to 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, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in the report. The following figure is an illustrative representation of the overall market size estimation process employed for this study.
Report Objectives
- To define, describe, and forecast the global truck refrigeration unit market, in terms of volume (’000/million units) and value (USD million/billion)
- To define, describe, and forecast the global market, by value and volume, on the basis of vehicle type (light commercial vehicle, medium & heavy commercial vehicle, trailer, and bus) at the regional level
- To define, describe, and forecast the LCV refrigeration unit market, by value and volume, on the basis of application (chilled and frozen) at the regional level
- To define, describe, and forecast the LCV refrigeration unit market, by value and volume, on the basis of industry (frozen, pharma drugs & chemicals, ambulance & passenger transport) at the regional level
- To define, describe, and forecast the LCV refrigeration unit market, by value and volume, on the basis of type (roof mount and split) at the regional level
- To define, describe, and forecast the truck refrigeration unit market, by value and volume, on the basis of region (Asia Pacific, EMEA, and the Americas)
- To define, describe, and forecast the trailer refrigeration unit market, by value and volume, on the basis of trailer size (20-feet, 40-feet, and others)
- To define, describe, and forecast the bus refrigeration unit market, by value and volume, on the basis of bus length (<8 meters, 8-12 meters and >12 meters)
- To understand the market dynamics (drivers, restraints, opportunities, and challenges) of this market
- To analyze the market share of the key players operating in the truck refrigeration unit market
- To analyze recent developments, alliances, joint ventures, mergers & acquisitions, new product launches, and other activities carried out by key industry participants in this market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.
The following customization options are available for the report:
- LCV refrigeration unit market, by type
- Roof mount system
- Split system
Note: This market will be given at country-level for countries considered under this study
- M&HCV refrigeration unit market, by temperature
- Single temperature
- Multi temperature
Note: This market will be given at the regional level for regions considered under this study
Growth opportunities and latent adjacency in Truck Refrigeration Unit Market