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The cold storage transportation market is set to grow from its current market value of more than $126 billion to over $200 billion by 2032, as reported in the latest study by Global Market Insights, Inc.
The rising consumption of perishable goods, such as fresh produce, dairy products, and pharmaceuticals significantly drives market growth. Technological advancements in refrigeration, including energy-efficient cooling systems, IoT-enabled temperature monitoring, and automated climate control are enhancing the efficiency and reliability of cold storage transportation.
Key takeaways:
- The air-blown evaporators segment, for instance, will capture 5% CAGR between 2024-2032, attributed to their efficiency and effectiveness in maintaining precise temperature control.
- The food and beverages segment will reach a valuation of over $50 billion by 2032. The increasing demand for fresh produce, dairy products, and frozen foods drives the necessity for efficient cold storage solutions.
- North America cold storage transportation industry garnered 35% share in 2023, spurred by its advanced infrastructure, high consumption of perishable goods and stringent food safety regulations.
