Global Refrigerated Warehousing Market, By Technology (PLC, Evaporative Cooling, Vapour Compression, Blast Freezing), Application (Fruits & Vegetables, Bakery & Confectionary, Dairy Products, Meat & Seafood, Food & Beverages), Temperature (Chilled, Frozen), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2025
Due to its acceptance, and its versatility the Global Refrigerated Warehousing Market is set to witness a CAGR of 10.5% in the forecast period of 2018-2025, where it will rise from its initial estimated value of USD 18.4 billion in 2017 to an estimated value of USD 40.9 billion by 2025.
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Key Developments in the Market:
- In May 2017, Congebec announced that they had acquired Shamrock Cold Storage Inc., expanding their service capabilities and expanding their market share and dominance in Canada.
- In October 2015, AGRO Merchants Group announced that they had completed the acquisition of Nordic Logistics and Warehousing LLC, aimed at expanding the service capabilities in the North America region.
Key Market Competitors:
- Lineage Logistics Holdings LLC.,
- Preferred Freezer Services,
- John Swire & Sons Ltd.,
- AGRO Merchants Group,
- NICHIREI CORPORATION,
- Interstate Cold Storage Inc.,
- Burris Logistics,
- Frialsa Frigoríficos S.A. de C.V.,
- HENNINGSEN COLD STORAGE CO.,
- A B Oxford Cold Storage Co. Pty Ltd,
- VersaCold Logistics Services,
- Hanson Logistics,
- Snowman Logistics,
- Berkshire Transportation Inc., and CONESTOGA COLD STORAGE
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Global refrigerated warehousing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of refrigerated warehousing market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
- Refrigerated warehousing market is set to witness a market growth because of the increase in demand of consumption of perishable items and frozen products.
- Increasing number of innovations in the market like transportation, freight tracking has also been a major factor in the market growth
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- By Technology
- PLC (Programmable Logic Controller)
- Evaporative Cooling
- Vapour Compression
- Blast Freezing
- By Application
- Fruits & Vegetables
- Bakery & Confectionary
- Dairy Products
- Meat & Seafood
- Food & Beverages
- By Temperature
- By Geography
- North America
- South America
- Middle East and Africa
- Due to high initial setting up costs, the market is set to be isolated for new small competitors and the major service providers are set to dominate the market which will induce less innovation due to their monopolistic nature in the market share
- High maintenance and operating costs of these warehouses will also pose a significant challenge to overcome and will make the market growth restrained
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