Road transport refrigeration equipment market to register a CAGR of 5.5 per cent till 2026

The global road transport refrigeration unit market size is slated to touch 339.3 thousand units by 2026, exhibiting a CAGR of 5.5per cent during the forecast period. Growing need to reduce carbon dioxide emissions from vehicles is likely to be the primary driving force behind the growth of this market. Transport refrigeration units cause large-scale pollution as they emit the harmful chlorofluorocarbons that are responsible for depleting the ozone layer. According to a study conducted by a private cold technology company, Dearman, refrigerated vehicles emit close to 49,125 tonnes of CO2, 22 tonnes of particulate matter, and 163 tonnes of NOx in London alone every year. This is expected to open up new avenues of innovation in this market and accelerate its growth during the forecast period.

As per reports road transport refrigeration unit (equipment) market size, share and industry analysis, by install vehicle (van and light truck, heavy truck, trailer), by mode of operation (single temperature, multi-temperature), by power source (vehicle powered, self-powered), by application (food and beverage products, pharmaceutical and other healthcare products, floral products) and regional forecast, 2019-2026”, the market size in 2018 was 221.3 thousand units.