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Global Cold Storage Construction Industry Report 2023-2030: Offering Eco-Friendly Alternative, CO2 Refrigeration Set to Make Big Gains
DUBLIN, Nov. 30, 2023 /PRNewswire/ -- The "Cold Storage Construction - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Cold Storage Construction Market to Reach $32.8 Billion by 2030
The global market for Cold Storage Construction estimated at US$11.8 Billion in the year 2022, is projected to reach a revised size of US$32.8 Billion by 2030, growing at a CAGR of 13.6% over the analysis period 2022-2030.
The cold storage industry has witnessed significant growth, driven by the COVID-19 pandemic's impact on online grocery shopping and the need for vaccine storage. The surge in online grocery shopping has increased the demand for cold storage facilities, while vaccine distribution has led to numerous cold storage construction projects.
Production Stores, one of the segments analyzed in the report, is projected to record 14.4% CAGR and reach US$18.3 Billion by the end of the analysis period. Growth in the Bulk Stores segment is estimated at 13.1% CAGR for the next 8-year period.
The U.S. Market is Estimated at $3.1 Billion, While China is Forecast to Grow at 16.4% CAGR
In 2022, the global market for cold storage is competitive, with players having varying levels of market presence, ranging from strong to niche. Cold storage is a crucial component of cold chain logistics, and there are different types of cold storage construction. The market is expected to continue its robust growth, with the United States leading in cold storage construction. However, the industry faces challenges such as high build-out costs, a shortage of skilled labor, extended lead times, and delivery delays.
The Cold Storage Construction market in the U.S. is estimated at US$3.1 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$8.3 Billion by the year 2030 trailing a CAGR of 16.4% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.3% and 12.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 12.4% CAGR.
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
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- Complimentary updates for one year
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MARKET TRENDS & DRIVERS
- Manufacturers Ramp Up Cold Storage Construction at Sites in Proximity of Manufacturing Locations
- Materials Shortages Emerge as Burning Issue for Cold Storage Construction
- Shortages-Driven Changes
- Efforts on Rise to Build Sophisticated Facilities in Cost-Efficient Manner
- COVID-19 Triggers Unprecedented Disruptions in the Supply Chain & Accelerates the Urgency to Rethink Supply Chain Management
- Globalization of Businesses Drives the Need for Efficient Supply Chain Designs
- Significant Growth in E-Commerce and online Grocery Shopping Induced by the Pandemic: A Key Driver
- Same Day Delivery Heightens Demand
- Healthy Tide in Processed Food Retail Augments Investments in Cold Storage Infrastructure
- Key Retail Trends Influencing Wider Deployment of Cold Storage Infrastructure
- Emphasis on Fresh Supply Chains
- Emergence of Online Retail Channel
- Rising Demand for Organic Foods
- Pandemic Drives Consumer Shift Towards Natural & Organic Foods
- Strong Demand for Frozen Foods Bodes Well for Market Growth
- Frozen Foods: Key Benefits Driving Consumer Acceptance
- COVID-19 Sets the Stage for Frozen Food Consumption
- Factors Favoring Frozen Food Demand amid Pandemic
- Rise in Online Food Orders Accelerate Demand for Cold Storage Units
- Demanding Supply Chain Requirements of Temperature Sensitive Pharmaceuticals Spurs Market Expansion
- Rapid Growth of Generic Drugs to Drive Demand
- Vaccines Make Cold Chain Highly Relevant in Pharmaceutical Logistics
- Investment in Pharma Cold Storage Facilities to Increase in the US in the Wake of the Pandemic
- Construction of the Cold Storage Facility for Storing COVID-19 Vaccines Begins in Egypt
- Prevailing Trends in Healthcare Sector Widen Opportunities
- Technology Adoption on the Rise in the Cold Chain Sector
- Automation on Rise in Cold Storage Facilities
- Vertical Construction a Growing Trend
- Novel Technologies and Approaches Poised to Revitalize Cold Storage Construction: A Review of Latest Trends in Cold Storage Landscape
- Sandwich Panels Most used for Thermal Insulation of Cold Storage Chambers
- Data-Driven Approach for Increasing Energy Efficiency of Cold Storage Units
- Challenges Faced by the Cold Chain Logistics Industry: Technology Coming to the Rescue
- HCFC Phase Out Programs Build Momentum for Alternative Refrigerants in Cold Chains
- HCFC Phase Out Timeline in the US
- Ammonia Refrigeration Gains Robust Traction in Cold Storage Facilities
- Offering Eco-Friendly Alternative, CO2 Refrigeration Set to Make Big Gains
- Led by Growing Population & Nutrition Needs, Global Food Industry to Offer Broad Based Opportunities for Cold Storage Facilities
FOCUS ON SELECT PLAYERS (Total 153 Featured)
- Bally Refrigerated Boxes, Inc.
- Darwin Chambers Company
- A M King
- Burris Logistics
- Hansen Cold Storage Construction
- Astron Buildings S.A.
- American Barcode and RFID Incorporated
- Allied Steel Buildings, Inc.
- Cold Storage Manufacturing, Inc.
- E-Pack Polymers Pvt., Ltd.
- Graycor, Inc.
- Alston Construction
- DEEM, LLC
- Controlled Environment Systems LLC
For more information about this report visit https://www.researchandmarkets.com/r/y66b74
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