Cold Chain Equipment Market overview
The cold chain equipment market plays a crucial role in the preservation and safe transport of temperature-sensitive products, such as food, pharmaceuticals, and vaccines, from the point of production to the final consumer or end-user. The term "cold chain" refers to the uninterrupted series of refrigerated production, storage, and distribution activities that ensure the quality and safety of these perishable products.
cold chain equipment market size grow at is projected to grow from USD 17.39 Billion in 2023 to USD 88.209 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 22.50% during the forecast period (2023 - 2032).
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Market Drivers:
Growing Demand for Perishable Goods: The increasing global demand for perishable products, such as fresh produce, seafood, pharmaceuticals, and vaccines, is a primary driver of the cold chain equipment market. Consumers' preferences for fresh and healthy products have driven the need for reliable temperature-controlled logistics.
High Initial Costs: Investing in cold chain equipment can be expensive, especially for small and medium-sized enterprises, which may deter some companies from adopting proper cold chain practices.
Energy Consumption: The energy-intensive nature of maintaining low temperatures can lead to high operational costs and environmental concerns. There's a growing emphasis on energy-efficient and environmentally friendly equipment.
Technological Advancements: The rapid pace of technological change means that companies need to continually invest in new equipment to stay competitive and meet evolving industry standards and regulations.
Cold Chain Equipment Market Segmentation
Cold Chain Equipment Type Outlook (USD Billion, 2018-2032)
· Storage Equipment
· Transportation Equipment
Cold Chain Equipment Application Outlook (USD Billion, 2018-2032)
· Meat
· Dairy & Frozen Desserts
· Bakery & Confectionary
· Processed Food
· Pharmaceuticals
· Vegetables & Fruits
· Others
Cold Chain Equipment Regional Outlook (USD Billion, 2018-2032)
· North America
· Europe
· Asia-Pacific
· Rest of the World
Key players
Key Companies in the cold chain equipment market include
· Thermo King
· Carrier Transicold
· Zanotti SpA
· Fermod
· Intertecnica
· ebm-papst Group
· CAREL
· Bitzer
· Kelvion
· Incold S.p.A.
· Rivacold srl
· Kason Industries Inc.
· CHG Europe BV
· Viessmann
· Schmitz Cargobull
Cold Chain Equipment Industry Developments
September 2022: Grupo Fuentes Acquisition by Lineage Logistics
Lineage Logistics, a leading global provider of temperature-controlled logistics and cold storage solutions, acquired Grupo Fuentes, a Spanish transport and cold storage company.
Impact: This acquisition is a strategic move by Lineage Logistics to strengthen its presence in major fresh produce marketplaces in Europe, particularly in Spain. The addition of Grupo Fuentes to Lineage's portfolio enhances its capabilities in cold storage and distribution in Europe, which is a critical market for the preservation and distribution of perishable goods. The acquisition positions Lineage Logistics to better serve the European market, including Spain, by offering advanced cold storage solutions and logistics services.
June 2022: Americold Logistics Facility in Dunkirk, New York
Americold Logistics, a leading provider of temperature-controlled warehousing and logistics services, opened a new facility in Dunkirk, New York.
The new facility is equipped with approximately 181,000 square feet of operational space and 25,000 pallet positions for cold storage. It serves the western New York region, offering comprehensive cold storage solutions.
Impact: The opening of this facility in Dunkirk, New York, demonstrates Americold Logistics' commitment to expanding its cold storage and logistics capabilities in the United States. This strategic move allows Americold to grow its footprint across the country and cater to the increasing demand for cold storage services in the region, particularly in the western New York area. It provides businesses with access to additional cold storage space and logistics support.
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