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By 2027, the refrigerated truck leasing industry in Europe is projected to be worth USD 35.8 billion and expand at a 9.3% compound annual growth rate (CAGR). Growth is mostly fueled by the expansion of the cold chain industry. Perishable goods are protected from rotting during transportation by cold chains logistics, which is why it is important to the food and beverage sector. Governments are gradually implementing the laws and public infrastructure required for the creation of cold chains. Service providers are simultaneously providing their staff with technical training and assistance so they can improve their technical proficiency in the administration, operation, and upkeep of specialised infrastructure needed to haul and transport food.
The market's growth prospects are primarily driven by the impending demand for refrigerated transportation of pharmaceuticals, food, and beverages. In addition, the refrigerated products sector is anticipated to rise along with the volume of items being transported by road. Furthermore, the development of reefer trucks in Europe has been aided by the booming retail e-commerce sector, an increase in the demand for sophisticated and effective logistics, and tighter laws on vehicle emissions.
convey by refrigerated trucks is a "derived demand" sector, meaning that demand for the goods that these trucks are intended to convey is closely correlated with demand for refrigerated truck drivers. Additionally, renting a reefer truck can be a very cost-effective option for companies who handle refrigerated cargo because it spares them the expense of keeping a fleet of reefer vehicles. Additionally, refrigerated truck rental services are perfect for ensuring correct handling, storage, and delivery of temperature-sensitive goods as well as avoiding rotting of perishable goods.
Consumers now buy for the food supplies they need every day in a different way because to the spread of smartphones and consumers' rising preference for online shopping and home delivery. The demand for fresh food goods has increased as a result of mobile app-based ordering, particularly from Quick Service Restaurants (QSRs), which depend on a steady supply of frozen food items. Because of this, there is now a greater need for frequent logistical services to manage the inventory, which is expected to lead to an increase in demand.
Operators of refrigerated truck fleets are incorporating cutting-edge technologies like spiral compressors to increase the efficiency of the refrigerant. A number of reefer truck rental solution providers are making aggressive investments in the deployment of IT infrastructure and the installation of sensors that will enable them to provide a minute-by-minute report on the temperature levels while the vehicle is in motion. As a result, the logistics sector is forecast to increase as a result of the growing integration for telematics, GPS systems, navigation systems, and temperature-monitoring sensors.
Report Coverage
Global Refrigerated Truck Rental research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Refrigerated Truck Rental report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Refrigerated Truck Rental competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Refrigerated Truck Rental market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Refrigerated Truck Rental market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Refrigerated Truck Rental market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Fraikin Limited; Penske Corporation, Inc.; Petit Forestier; The Hertz Corporation; and Ryder System, Inc.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Refrigerated Truck Rental market based on the below-mentioned segments:
Global Refrigerated Truck Rental Market, By Type
Light
Medium
Heavy
Global Refrigerated Truck Rental market, By Rental Type
Short-term
Long-term
Global Refrigerated Truck Rental market, Regional Analysis
The market's growth prospects are primarily driven by the impending demand for refrigerated transportation of pharmaceuticals, food, and beverages. In addition, the refrigerated products sector is anticipated to rise along with the volume of items being transported by road. Furthermore, the development of reefer trucks in Europe has been aided by the booming retail e-commerce sector, an increase in the demand for sophisticated and effective logistics, and tighter laws on vehicle emissions.
convey by refrigerated trucks is a "derived demand" sector, meaning that demand for the goods that these trucks are intended to convey is closely correlated with demand for refrigerated truck drivers. Additionally, renting a reefer truck can be a very cost-effective option for companies who handle refrigerated cargo because it spares them the expense of keeping a fleet of reefer vehicles. Additionally, refrigerated truck rental services are perfect for ensuring correct handling, storage, and delivery of temperature-sensitive goods as well as avoiding rotting of perishable goods.
Consumers now buy for the food supplies they need every day in a different way because to the spread of smartphones and consumers' rising preference for online shopping and home delivery. The demand for fresh food goods has increased as a result of mobile app-based ordering, particularly from Quick Service Restaurants (QSRs), which depend on a steady supply of frozen food items. Because of this, there is now a greater need for frequent logistical services to manage the inventory, which is expected to lead to an increase in demand.
Operators of refrigerated truck fleets are incorporating cutting-edge technologies like spiral compressors to increase the efficiency of the refrigerant. A number of reefer truck rental solution providers are making aggressive investments in the deployment of IT infrastructure and the installation of sensors that will enable them to provide a minute-by-minute report on the temperature levels while the vehicle is in motion. As a result, the logistics sector is forecast to increase as a result of the growing integration for telematics, GPS systems, navigation systems, and temperature-monitoring sensors.
Report Coverage
Global Refrigerated Truck Rental research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Refrigerated Truck Rental report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Refrigerated Truck Rental competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Refrigerated Truck Rental market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Fraikin Limited; Penske Corporation, Inc.; Petit Forestier; The Hertz Corporation; and Ryder System, Inc. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Refrigerated Truck Rental Market from 2021 to 2030.
- Market Forecast for Refrigerated Truck Rental Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Refrigerated Truck Rental competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Refrigerated Truck Rental
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Refrigerated Truck Rental market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Refrigerated Truck Rental market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Fraikin Limited; Penske Corporation, Inc.; Petit Forestier; The Hertz Corporation; and Ryder System, Inc.
Primary Target Market
- Market Players of Refrigerated Truck Rental
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Refrigerated Truck Rental market based on the below-mentioned segments:
Global Refrigerated Truck Rental Market, By Type
Light
Medium
Heavy
Global Refrigerated Truck Rental market, By Rental Type
Short-term
Long-term
Global Refrigerated Truck Rental market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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