International. The global transportation refrigeration equipment market is expected to reach US$8.8 billion by 2018, driven by energy-efficient technological innovations in refrigeration and increasing consumption of frozen and refrigerated foods.
As a market research report published by global industry analysts says, the U.S. represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a projected compound annual rate (CAGR) of 7.8% during the analysis period.
Growth in the region is led by population growth, rapid urbanization, a growing base of middle-class consumers, westernization of eating habits, increased domestic consumption of products, and developments in refrigerated road infrastructure and frozen food and non-food products.
