Europe Refrigerated Truck Rental Market Overview:

 Foods and other commodities that need to be transported in a temperature-controlled environment are the main focus of chilled trucking. All goods are kept in their pre-shipped state in trailers that carry food and other goods thanks to an integrated refrigeration system. Refrigerated trucking businesses are always prepared to ship goods because the cargo is temperature-sensitive, preventing product damage or destruction. The refrigerated truck rental industry has expanded rapidly in recent years, and equipment with single or multiple temperature compartments or multi-temperature longitudinal lanes to accommodate different uses has become available. Over the course of the forecast period, the Europe Refrigerated Truck Rental market is anticipated to grow at a CAGR of roughly 8.3%.

Europe Refrigerated Truck Rental Market size was valued at US$ 17.84 Bn. in 2020. Medium Trucks is expected to dominate the post COVID era for Europe Refrigerated Truck Rental Market.

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Europe Refrigerated Truck Rental Market Dynamic

The market's possible chances can be seen in the expanding need for refrigerated delivery of food, beverages, and medications. Furthermore, it is anticipated that the refrigerated freight industry would grow in tandem with the ongoing increase in the volume of commodities transported by road. In addition, the expansion of reefer trucks in Europe can be attributed to the swift development of the retail e-commerce industry, the consequent rise in the demand for sophisticated and effective logistics, and the tightening of vehicle emissions regulations.

Europe Refrigerated Truck Rental Market Regional Insights

Germany was worth USD 5.2 billion in 2019. The German Frozen Food Institute (GFFI) reports that sales of frozen food items rose by 1.5% in 2019 over the previous year. Foods that are sustainable and nutritious are in greater demand as consumers steadily look for healthier options for their regular diets. Moreover, frozen food is a monthly purchase for 68% of German households. Furthermore, in 2019 there was a sharp rise in demand for frozen pizza, ready-to-eat frozen dinners, and frozen potato products. These factors are supporting the nation's cold chain logistics industry, which is increasing demand for services related to renting reefer trucks.

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Europe Refrigerated Truck Rental Market Segmentation

by Truck Type

• Light
• Medium
• Heavy

With a market value of USD 7.4 billion in 2019, the light truck segment led the European refrigerated vehicle rental market. These cars are perfect for delivering perishables and frozen meals within cities, especially for supermarkets and QSRs. Their compact size makes them easy to drive in cities with heavy traffic. Therefore, growth in the FMCG, pharmaceutical, and e-commerce retail industries is anticipated to increase demand for light trucks. Demand is also anticipated to be impacted by different limitations that forbid large commercial vehicles from entering crowded locations during peak hours.

The heavy truck market is predicted to expand at the second-fastest rate, or 8.1 percent, between 2020 and 2027. Heavy trucks are frequently employed for long-distance transportation of frozen meals and perishable goods due to their larger carrying capacities. Additionally, by using multi-temperature refrigerated systems, these vehicles can transport multiple products at once, including meat, fish, and dairy products, increasing delivery efficiency and profit margins for service providers.

by Rental Type

• Long Term
• Short Term

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Europe Refrigerated Truck Rental Market Key Players

• Fraikin Limited
• Penske Corporation, Inc
• Petit Forestier
• Ryder System, Inc.
• The Hertz Corporation
• The Hertz Corporation
• Polar Leasing, Inc.
• U-COOL Refrigeration, LLC
• ReeferTek USA, Corp
• Daikin Industries
• FedEx
• DB Schenker
• General Mills
• Hyundai Motor Company
• Ingersoll Rand Inc

Europe Refrigerated Truck Rental Market Scope: 

Following the market valuation phase, we embarked on an exhaustive primary research endeavor to gather, analyse, and validate crucial data. This encompassed evaluating market size, forecasting, identifying key drivers, and cross-referencing data during statistical analysis. Employing both top-down and bottom-up methodologies, alongside other validation techniques, we meticulously scrutinized market segments and sub-segments outlined in this study. All collated data underwent rigorous qualitative and quantitative analysis to ensure the provision of robust insights in the report.

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Key questions answered in the Europe Refrigerated Truck Rental Market are:

• What is Europe Refrigerated Truck Rental?
• What is the growth rate of the Europe Refrigerated Truck Rental Market?
• Which are the factors expected to drive the Europe Refrigerated Truck Rental market growth?
• What are the different segments of the Europe Refrigerated Truck Rental Market?
• What growth strategies are the players considering to increase their presence in Europe Refrigerated Truck Rental?
• What are the upcoming industry applications and trends for the Europe Refrigerated Truck Rental Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Europe Refrigerated Truck Rental Market?
• Who are the leading companies and what are their portfolios in Europe Refrigerated Truck Rental Market?
• What segments are covered in the Europe Refrigerated Truck Rental Market?
• Who are the key players in the Europe Refrigerated Truck Rental market?

Key Offerings:

• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
• Competitive landscape – Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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