Dublin, Feb. 19, 2019 (GLOBE NEWSWIRE) -- The "Truck Refrigeration Unit Market by Type, Industry, Bus Length, Trailer Size, Application, Vehicle Type and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The increasing demand for frozen and chilled items will drive the truck refrigeration unit market

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 demand for frozen and chilled products and increasing sales of commercial vehicles. However, cabin comfort norms are acting as restraints for the refrigeration unit market as cabin comfort is no more an optional technology for trucks, mainly in developed regions.

The Light Commercial Vehicle (LCV) segment is estimated to be the largest truck refrigeration unit market, by vehicle type.

In terms of vehicle type, the Light Commercial Vehicle (LCV) segment is estimated to dominate the refrigeration unit market in 2018 and is anticipated to remain dominant in the vehicle type segment during the forecast period. LCVs are mostly preferred for the transportation of perishable goods within the city, and with a rising urbanization rate, especially in developing countries, the refrigeration unit market is expected to grow in the coming years. However, as per an industry expert's insights, for fitment of the frozen refrigeration unit require certain power output of light trucks as frozen refrigeration unit comes with high capacity compressor. So, the refrigeration unit fitted in LCV is economical, which would offer lucrative business opportunities with low investment.

The roof mount system segment is estimated to grow at the fastest rate in the LCV refrigeration unit market by type.

The roof mount system segment is estimated to be the fastest light commercial vehicle refrigeration unit market during the forecast period. The reasons attributed to the growth of this system are enhanced operational efficiency, simple working mechanism, lightweight, compact size, and low maintenance cost among others. On the other hand, the split systems are economical compared to the roof mount system, and hence, presently it has a higher adoption rate in the developing countries of Asia Pacific. However, owing to its benefits over the split system, the roof mount systems are projected to dominate during the forecast period.

Asia Pacific is estimated to be the largest truck refrigeration unit market during the forecast period.

The Asia Pacific region is projected to lead in the truck refrigeration market during the forecast period owing to the presence of countries such as India, China, and Japan, which have a substantial consumption of frozen and chilled products. Countries such as India and China are trying to improve their cold storage infrastructure in order to prevent wastage of items. According to a leading supplier of the refrigeration unit, approximately USD 1.34 billion worth vegetables and fruits in India (which is the second largest producer of fruits and vegetables) are wasted every year.

Furthermore, increasing consumer demand for frozen food items has fueled the growth of supermarkets and quick-service restaurants such as KFC, Burger King, Subway, Taco Bell, Pizza Hut, and McDonald's among others in the region. This has led to an increase in the sales of consumer-ready items. Thus, to maintain the shelf life of perishable commodities, the demand for refrigeration unit is expected to remain significant in the coming years.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Truck Refrigeration Unit Market
4.2 Truck Refrigeration Unit Market, By Vehicle Type
4.3 Asia Pacific - Truck Refrigeration Unit Market, By Vehicle Type & Country
4.4 Truck Refrigeration Unit 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
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
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
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
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
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
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
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
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

14 Competitive Landscape
14.1 Overview
14.2 Truck Refrigeration Unit Market: Market Share Analysis
14.3 Competitive Leadership Mapping
14.4 Competitive Leadership Mapping
14.5 Competitive Scenario

15 Company Profiles
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

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Related Topics: Commercial Vehicles, Industrial Refrigeration, Trucks