Valley Cottage, NY -- (SBWIRE) -- 07/01/2020 -- Consumer Demand for Fresh and High-quality Food Products to Boost Demand for Transportation Condensing Units: FMI Study

Future Market Insights recently published a market research study that includes an in-depth analysis of the growth prospects of the global condensing units market during the forecast period, 2018-2028. As per the report, the market size was estimated to be ~ US$ 2.3 billion in 2018 and expected to witness a year-on-year growth of 5% in 2019. Moreover, the report highlights that the global condensing units market is likely to grow at a compounded annual growth rate (CAGR) of ~5.6% during the assessment period, 2018-2028. As per the findings of the report, nearly 200,000 condensing units were sold in 2018 and the figure is expected to grow in the upcoming years.

Some of the major factors that are likely to influence the growth of the condensing units market include, improved industrial capabilities in the cold chain space, favorable federal policies, and rapidly increase in urbanization. The report suggests that transportation condensing units in the medium-high capacity segment (10-15 KW) account for ~45% of the total sales.

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However, according to an analyst at Future Market Insights, " The high-capacity transportation condensing units (above 15 KW) that currently contribute just under 25 percent of the total market volume are expected to gain significant momentum during the forecast period primarily due to the growing demand for large-scale applications."

Global Penetration of Cold Chain Facilities to Boost Demand for Transportation Condensing Units

One of the most critical components of cold chain is the effective transportation of perishable food items in a temperature regulated environment. Thus, the overall growth in the adoption of cold chain is expected to positively influence the demand for efficient transportation condensing units such as refrigerated trailers. In addition, the growing consumer preference for fresh and high-quality food products is another factor that is expected to boost the overall demand for transportation condensing units during the forecast period. Further, as cold chain market players are largely focusing on retaining the freshness of food products to gain an advantage in the competitive market landscape, there is a sizeable growth in the demand for transportation condensing units.

Developed Regions Dominate Market Value Share

In the current scenario, North America and Europe account for more than 65% of the total value share within the transportation condensing units market. In addition, according to the market study, the sales of the transportation condensing units is witnessing a health growth in North America and Europe largely due to the growing number of health conscious consumers and blazing demand for high-quality products. Moreover, the demand for ready-to-eat food and baked food products especially in the developed regions is further expected to increase the demand for transportation condensing units in the mentioned regions.

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Transportation Condensing Units Market: Vendor Insights

The market study presented by Future Market Insights lists the names of the leading players operating in the market along with crucial insights pertaining to their market share, size, growth strategies, product offerings, and more. The prominent market players in the transportation condensing units market are, Thermo King, Kingtec, Zanotti, Carrier Transicold, Electric Reefer Solutions, and more.
For more insights related to the transportation condensing units market, reach out to the analyst at press@futuremarketinsights.com