For maintaining proper temperature during the transportation of perishable goods, marine transportation refrigeration units are used. These units are known as reefers units. Marine transport refrigeration units are used for longer distances and higher quantity transportation. The growing import and export of goods has created the demand for marine transport refrigeration units. Transport refrigeration is required in many ways in the processing, preservation, and transport of fresh and frozen foods products.
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Marine Transport Refrigeration Unit Market – Dynamics
Higher economic growth, along with changing lifestyles of the population in developing economies, is indirectly benefiting the marine transport refrigeration unit market. Rise in urbanization, combined with a growing middle-class population, and changing dietary habits, have led to the adoption of ready-to-eat food that does not require preparation. The growing demand for ready-to-eat food will need more transportation of frozen foods, which, in turn, is driving the market for marine transport refrigeration units. Global seaborne trade is in the growing phase, owing to the upsurge in the world economy. Seaborne trade has been expanding at a growth rate of four percent in the last five years. The global maritime industry has also gathered momentum and raised an occupancy in the shipping industry. Following the trend of containerized trade, the demand for marine transport refrigeration units has increased a lot. Besides this, the implementation of stringent government regulations for reducing food wastage, mainly in emerging economies such as China and India, is projected to create high demand for transport refrigeration, which, in turn, will positively impact the marine transport refrigeration unit market in the near future.
Marine Transport Refrigeration Unit Market - Key Manufacturers
Some of the major key players in the marine transport refrigeration unit market are Daikin, Mitsubishi Heavy Industries, Klinge Corporation, SEA Mark Reefer Solutions, Guchen Thermo, United Technologies Corporation (Carrier Transicold), and Webasto, among other prominent players.
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Marine Transport Refrigeration Unit Market - Regional Analysis
Globally, the marine transport refrigeration unit market is segmented across seven regions - North America. Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa. East Asia holds the highest market share in the marine transport refrigeration unit market, with China being the major market for marine transport refrigeration units followed by India. China is considered to be a major country for cold chain logistics. The demand for marine transport refrigeration units in North America is rising at a robust pace, owing to the increase in the consumption of packaged food. The demand for marine transport refrigeration units in European countries has increased substantially, owing to the rise in maritime trade in these regions. The Middle East and Africa region is expected to show decent growth in the demand for marine transport refrigeration units.
Marine Transport Refrigeration Unit Market- Competitive Analysis
The global marine transport refrigeration unit market is consolidated with less number of market players. The market is in a matured phase, hence, the competition is expected to become less intense as the market is captured by leading players. The competition is more between local players. Market players are focusing on developing low emission marine transport refrigeration units.
The research report on the marine transport refrigeration unit market presents a comprehensive assessment of the marine transport refrigeration unit market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report on the marine transport refrigeration unit market provides analysis and information according to market segments such as geography, product type, vessel type, and end use.
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