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Global Refrigerated Truck Rental Market to reach USD XX billion by the end of 2029

Global Refrigerated Truck Rental Market Size study & Forecast, by Truck Type (Light, Medium, and Heavy), by Rental Type (Short-term, and Long-term), by Downstream Field (Food and Beverages, Retail, and Others) and Regional Analysis, 2022-2029

Product Code: ALTPCV-34653237
Publish Date: 29-01-2023
Page: 200

Global Refrigerated Truck Rental Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Refrigerated Truck Rental is a type of logistics and transportation service offered by logistics service providers for shipping perishable and temperature-sensitive products. These trucks are attached to refrigerate systems to maintain the required temperature. These trucks are used in different industries such as pharmaceuticals and healthcare, food and beverages, seafood and frozen food, and cosmetics & personal care among others. The increasing expansion of cold chain logistics market and growing penetration of e-commerce services worldwide as well as strategic initiatives from leading market players are key factors accelerating the market growth.

The increasing expansion of cold chain logistics infrastructure is contributing to the growth of the Global Refrigerated Truck Rental Market. For instance, according to Statista – in 2020, the global cold chain logistics market was valued at USD 248.4 billion, and this number is projected to grow to USD 410 billion by 2028. Moreover, as per Statista – in 2020, the global healthcare cold chain logistics market was estimated at USD 11.3 billion, and as per projections by 2026, the global healthcare cold chain logistics market would grow to USD 17.4 billion. Also, rising technological advancements in truck fleet management and growing consumption of frozen food products would create a lucrative growth prospectus for the market over the forecast period. However, the high rental cost associated with Refrigerated Truck Rental and increasing concern over carbon footprint stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Refrigerated Truck Rental Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading market players and increasing demand for frozen food products, coupled with rising demand for seafood in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising expansion of healthcare and pharmaceuticals and increasing demand for cosmetics and personal care products in the region.

Major market players included in this report are:
Ryder System Inc.
Fraikin Limited
Penske Corporation, Inc.
Petit Forestier
The Hertz Corporation
Polar Leasing, Inc.
U-COOL Refrigeration, LLC
ReeferTek USA, Corp

Recent Developments in the Market:
 In December 2020, Europe based refrigerated truck rental company Petit Forestier Group partnered with Volvo Group to procure 1,000 full-electric Volta trucks to be used for the development of a fleet of refrigerated trucks.

Global Refrigerated Truck Rental Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Truck Type, Rental Type, Downstream Field, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Truck Type

By Rental Type

By Downstream Field
Food and Beverages

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Refrigerated Truck Rental Market, by Region, 2019-2029 (USD Billion)
1.2.2. Refrigerated Truck Rental Market, by Truck Type, 2019-2029 (USD Billion)
1.2.3. Refrigerated Truck Rental Market, by Rental Type, 2019-2029 (USD Billion)
1.2.4. Refrigerated Truck Rental Market, by Downstream Field, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Refrigerated Truck Rental Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Refrigerated Truck Rental Market Dynamics
3.1. Refrigerated Truck Rental Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing expansion of cold chain logistics market Growing penetration of e-commerce services worldwide Strategic initiatives from leading market players
3.1.2. Market Challenges Rising concern over carbon footprint issues
3.1.3. Market Opportunities Rising technological advancements in truck fleet management Growing consumption of frozen food products
Chapter 4. Global Refrigerated Truck Rental Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Refrigerated Truck Rental Market, by Truck Type
6.1. Market Snapshot
6.2. Global Refrigerated Truck Rental Market by Truck Type, Performance – Potential Analysis
6.3. Global Refrigerated Truck Rental Market Estimates & Forecasts by Truck Type 2019-2029 (USD Billion)
6.4. Refrigerated Truck Rental Market, Sub Segment Analysis
6.4.1. Light
6.4.2. Medium
6.4.3. Heavy
Chapter 7. Global Refrigerated Truck Rental Market, by Rental Type
7.1. Market Snapshot
7.2. Global Refrigerated Truck Rental Market by Rental Type, Performance – Potential Analysis
7.3. Global Refrigerated Truck Rental Market Estimates & Forecasts by Rental Type 2019-2029 (USD Billion)
7.4. Refrigerated Truck Rental Market, Sub Segment Analysis
7.4.1. Short-term
7.4.2. Long-term
Chapter 8. Global Refrigerated Truck Rental Market, by Downstream Field
8.1. Market Snapshot
8.2. Global Refrigerated Truck Rental Market by Downstream Field, Performance – Potential Analysis
8.3. Global Refrigerated Truck Rental Market Estimates & Forecasts by Downstream Field 2019-2029 (USD Billion)
8.4. Refrigerated Truck Rental Market, Sub Segment Analysis
8.4.1. Food and Beverages
8.4.2. Retail
8.4.3. Others
Chapter 9. Global Refrigerated Truck Rental Market, Regional Analysis
9.1. Refrigerated Truck Rental Market, Regional Market Snapshot
9.2. North America Refrigerated Truck Rental Market
9.2.1. U.S. Refrigerated Truck Rental Market Truck Type breakdown estimates & forecasts, 2019-2029 Rental Type breakdown estimates & forecasts, 2019-2029 Downstream Field breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Refrigerated Truck Rental Market
9.3. Europe Refrigerated Truck Rental Market Snapshot
9.3.1. U.K. Refrigerated Truck Rental Market
9.3.2. Germany Refrigerated Truck Rental Market
9.3.3. France Refrigerated Truck Rental Market
9.3.4. Spain Refrigerated Truck Rental Market
9.3.5. Italy Refrigerated Truck Rental Market
9.3.6. Rest of Europe Refrigerated Truck Rental Market
9.4. Asia-Pacific Refrigerated Truck Rental Market Snapshot
9.4.1. China Refrigerated Truck Rental Market
9.4.2. India Refrigerated Truck Rental Market
9.4.3. Japan Refrigerated Truck Rental Market
9.4.4. Australia Refrigerated Truck Rental Market
9.4.5. South Korea Refrigerated Truck Rental Market
9.4.6. Rest of Asia Pacific Refrigerated Truck Rental Market
9.5. Latin America Refrigerated Truck Rental Market Snapshot
9.5.1. Brazil Refrigerated Truck Rental Market
9.5.2. Mexico Refrigerated Truck Rental Market
9.5.3. Rest of Latin America Refrigerated Truck Rental Market
9.6. Rest of The World Refrigerated Truck Rental Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Ryder System Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Fraikin Limited
10.2.3. Penske Corporation, Inc.
10.2.4. Petit Forestier
10.2.5. The Hertz Corporation
10.2.6. Polar Leasing, Inc.
10.2.7. U-COOL Refrigeration, LLC
10.2.8. ReeferTek USA, Corp
10.2.9. KookMate
10.2.10. Innocool
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
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To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
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The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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