Growing Collaboration for R&D is a Key Contributing Factor Driving the Growth of the Market

Global truck refrigeration unit market is anticipated to grow at a CAGR of 7.7% during the forecast period (2024-2031). The market has seen significant growth primarily owing to increased focus on R&D by both public and private organizations and growing applications. For instance,

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• In January 2023, Thermo King recently launched the “next-generation” TH-350, an all-in-one, ultra-thin electric transport refrigeration unit. The TH-350 is a lightweight, reliable, and user-friendly cold chain logistics system designed for refrigerated trailers, ensuring rapid cooling and precise temperature control for freshness.

• In September 2023, Denso Corp. developed "Everycool," an advanced cooling system that provides comfort and energy efficiency when a commercial vehicle’s engine is off. It improves driver working conditions, reduces environmental impact, and promotes efficient energy utilization. It is compact, lightweight, and compatible with various vehicle types, reducing power consumption and weight.

• In November 2023, Daikin unveiled a full-electric and hybrid transport refrigeration lineup at SOLUTRANS, reducing emissions and featuring innovations such as the Exigo trailer refrigeration unit and Daikin Telematics connectivity platform.

• In May 2022, Thermo King Corp. introduced the 'Precedent S-750i', a diesel-electric transport refrigeration unit with integrated shore power, offering enhanced efficiency, lower emissions, quieter operation, lower maintenance, and longer service life.

Various applications used in the truck refrigeration unit market growth such as:

Market Coverage

• The market number available for – 2023-2031

• Base year- 2023

• Forecast period- 2024-2031

• Segment Covered- 

o By Type

o By Application

• Regions Covered-

o North America

o Europe

o Asia-Pacific

o Rest of the World

• Competitive Landscape- includes Carrier Global Corp., GAH (Refrigeration) Ltd., Mitsubishi Heavy Industries Thermal Systems, Ltd., Thermo King Corp. Webasto SE, and others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Truck Refrigeration Unit Market Report Segment

By Type

• Small Truck Refrigeration Unit
• Medium Truck Refrigeration Unit
• Large Truck Refrigeration Unit

By Application

• Food & Beverages
• Pharmaceuticals
• Chemical Industry
• Plants/Flowers
• Others (Biomedical Transport, and Frozen Goods Transport)

Global Truck Refrigeration Unit Market Report Segment by Region

North America

• United States

• Canada 

Europe

• UK

• Germany

• Italy

• Spain

• France

• Rest of Europe 

Asia-Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific 

Rest of the World

• Latin America 

• The Middle East & Africa

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