The North America cold storage market size is
estimated to reach USD 68.23 billion by 2025, according to the new report by
Grand View Research, Inc., expanding at a CAGR of 9.9% during the forecast
period. Technological advancements in cold storage warehouses are stimulating
the growth of the market. Increasing automation is changing the conventional
warehouse operations, enabling companies to maximize their output. Growing
penetration of robotics applications, automated material handling equipment,
and high-speed conveyor systems help in achieving the order accuracy.
Rising
awareness concerning the low ozone depletion potential (ODP) and low global
warming potential (GWP) refrigerants to tackle environmental and social facets
along with increasing demand for energy-efficient natural refrigerants are the
key factors driving the market. Inorganic refrigerants such as ammonia, CO2,
and hydrocarbon-based refrigerants are the most popular natural refrigerants
that are being increasingly preferred by end users for their energy efficiency,
low cost, and low GDP & ODP.
High
running costs, capital investment, and scalability of different picking methods
are the key factors restraining the market over the projected period.
Additionally, advanced automation, software system, and high-tech advancements
in tracking systems and warehousing have led to high requirement of skilled
labor. Dearth of skilled labor can restrict the market from realizing its
utmost potential.
Compared
to other revenue-generation streams for real-estate firms, the North America
cold storage construction market is smaller in size. From the ownership’s
perspective, potential developers and real-estate firms may want to consider
investing in cold storage facilities owing to their growing population in the
region. Furthermore, there will be a bidding war among investors to acquire Class
A (high-quality or newly-constructed building located in central business areas
and draws the highest rent) traditional warehouse space in the U.S. and Canada.
To avoid such situation, real-estate firms can invest in developing a class B
(older than class A buildings and draws less rent compared to class A)
warehouse as the cold storage facility.
Key
companies operating in the market are Lineage Logistics; Americold Logistics
LLC; Burris Logistics, Inc.; Cloverleaf Cold Storage Company; and VersaCold Logistics
Services. In addition to cold storage services, market players are providing
value-added activities such as food processing and harvesting to increase the
product life of fresh foods.
Browse full
research report on North America Cold Storage Market:
www.grandviewresearch.com/industry-analysis/north-america-cold-storage-market
- Service providers have enhanced their efforts
to safeguard temperature-controlled products from potential tampering or
any malicious actions with food products
- The close proximity of warehouses to
transportation hubs such as airports, seaports, and major highway
interchanges is likely to enable service providers to improve their
efficiency by shipping products on time
- Stringent government regulations are
encouraging manufacturers to develop rigorous practices and service
providers to make investments for improving their infrastructure in order
to obtain safety certifications
- In 2016, the frozen segment held the largest
share in terms of revenue in the North America market and is expected to
maintain its dominance over the forecast period
- Robust growth of the pharmaceutical industry
and increasing stringency of standards pertaining to food safety have
enhanced the cold storage capacity of Canada by around 8 percent over the
last two years
- Some of the industry participants include
Americold Logistics LLC; Burris Logistics, Inc.; Cloverleaf Cold Storage
Company; Lineage Logistics; VersaCold Logistics Services; and Henningsen
Cold Storage Company.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/ready-to-eat-processed-and-frozen-foods
Grand View Research has segmented the North America cold storage market
based on warehouse, construction, temperature, application, and country.
North
America Cold Storage Warehouse Outlook (Revenue,
USD Million, 2014 - 2025)
- Private
& Semi Private
- Public
North
America Cold Storage Construction Outlook (Revenue,
USD Million, 2014 - 2025)
- Bulk
Storage
- Production
Stores
- Ports
North
America Cold Storage Temperature Outlook (Revenue,
USD Million, 2014 - 2025)
- Chilled
- Frozen
North America
Cold Storage Application Outlook (Revenue, USD Million, 2014 -
2025)
- Fruits
& Vegetables
- Dairy
- Fish,
Meat, and Seafood
- Processed
Food
- Pharmaceuticals
North
America Cold Storage Country Outlook (Revenue, USD Billion; 2014 - 2025)
- North
America
- U.S.
- Canada
- Mexico
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/north-america-cold-storage-market-analysis
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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