The Latin America, Middle East and Africa Truck Refrigeration Unit Market would witness market growth of 7.7% CAGR during the forecast period (2023-2030).
The Brazil market dominated the LAMEA Truck Refrigeration Unit Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $376.2 Million by 2030. The Argentina market is showcasing a CAGR of 8.2% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 7.4% during (2023 - 2030).
The growing prominence of biotechnology and healthcare products, including biologics and diagnostic specimens, has expanded the scope of the TRU market. These specialized applications require refrigeration units with advanced temperature monitoring and control features to guarantee sensitive biological materials' safe and secure transport. Unlike traditional refrigeration units used for general perishable goods, those catering to biologics and diagnostic specimens require advanced features to meet the stringent requirements of the healthcare industry.
Additionally, floral, and horticultural industries rely on the TRU market to extend the shelf life and vibrancy of flowers, plants, and other products. Refrigeration units designed for these applications incorporate humidity control features, ensuring that the delicate balance of temperature and moisture is maintained to preserve the visual and structural qualities of the transported goods.
With the rising demand, food and beverage companies may expand their distribution networks to reach more consumers across South Africa. This expansion requires more TRU to transport products over longer distances while maintaining optimal temperatures. As per the data from the Government of South Africa, measured in real terms (constant 2019 prices), total income generated by the food and beverages industry increased by 14,9% in February 2023 compared with February 2022. Positive annual growth rates were recorded for bar sales (35,5%) and food sales (13,8%). Thus, with the rise of the food and beverage sector in LAMEA, there will be enhanced growth in the regional market.
Based on Type, the market is segmented into Split, and Roof Mount. Based on Trailer size, the market is segmented into Below 20ft, 20-40ft, and Above 40ft. Based on End-user, the market is segmented into Food, Pharmaceutical, Chemical Industry, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The Brazil market dominated the LAMEA Truck Refrigeration Unit Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $376.2 Million by 2030. The Argentina market is showcasing a CAGR of 8.2% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 7.4% during (2023 - 2030).
The growing prominence of biotechnology and healthcare products, including biologics and diagnostic specimens, has expanded the scope of the TRU market. These specialized applications require refrigeration units with advanced temperature monitoring and control features to guarantee sensitive biological materials' safe and secure transport. Unlike traditional refrigeration units used for general perishable goods, those catering to biologics and diagnostic specimens require advanced features to meet the stringent requirements of the healthcare industry.
Additionally, floral, and horticultural industries rely on the TRU market to extend the shelf life and vibrancy of flowers, plants, and other products. Refrigeration units designed for these applications incorporate humidity control features, ensuring that the delicate balance of temperature and moisture is maintained to preserve the visual and structural qualities of the transported goods.
With the rising demand, food and beverage companies may expand their distribution networks to reach more consumers across South Africa. This expansion requires more TRU to transport products over longer distances while maintaining optimal temperatures. As per the data from the Government of South Africa, measured in real terms (constant 2019 prices), total income generated by the food and beverages industry increased by 14,9% in February 2023 compared with February 2022. Positive annual growth rates were recorded for bar sales (35,5%) and food sales (13,8%). Thus, with the rise of the food and beverage sector in LAMEA, there will be enhanced growth in the regional market.
Based on Type, the market is segmented into Split, and Roof Mount. Based on Trailer size, the market is segmented into Below 20ft, 20-40ft, and Above 40ft. Based on End-user, the market is segmented into Food, Pharmaceutical, Chemical Industry, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
List of Key Companies Profiled
- Denso Corporation
- Webasto Group
- Klinge Corporation
- Carrier Global Corporation
- Trane Technologies PLC (Thermo King)
- Daikin Industries, Ltd.
- Mitsubishi Heavy Industries Ltd.
- Subros Limited
- Arctic Traveler Canada (Advanced Temperature Control)
- Utility Trailer Manufacturing Company, LLC
Market Report Segmentation
By Type- Split
- Roof Mount
- Below 20ft
- 20-40ft
- Above 40ft
- Food
- Pharmaceutical
- Chemical Industry
- Others
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Truck Refrigeration Unit Market by Type
Chapter 6. LAMEA Truck Refrigeration Unit Market by Trailer size
Chapter 7. LAMEA Truck Refrigeration Unit Market by End-user
Chapter 8. LAMEA Truck Refrigeration Unit Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Denso Corporation
- Webasto Group
- Klinge Corporation
- Carrier Global Corporation
- Trane Technologies PLC (Thermo King)
- Daikin Industries, Ltd.
- Mitsubishi Heavy Industries Ltd.
- Subros Limited
- Arctic Traveler Canada (Advanced Temperature Control)
- Utility Trailer Manufacturing Company, LLC
Methodology
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