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Cold Storage Construction Market Size, Analysis and Forecast 2023–2030

Author : Ashwini Atole | Published On : 10 Jan 2024

Market Size and Growth:

Cold storage construction market was valued at USD 13.4 billion in 2023 and is projected to reach USD 49.6 billion by 2033, growing at a CAGR of 14% during the next 10 years.

 

To Know more about this report (Description, TOC and List of Tables and Figures)?—?Cold Storage Construction Market

The global cold storage construction market is experiencing rapid growth, driven by several factors. These include:

  • · Growing demand for food and beverages: Increasing population and rising disposable incomes are driving the demand for processed and packaged foods, which require cold storage for preservation.
  • · Expanding e-commerce industry: The increasing popularity of online grocery shopping has created a need for more efficient and geographically dispersed cold storage facilities.
  • · Need for improved food safety: Consumers are increasingly aware of the importance of food safety, which is leading to increased investment in cold storage infrastructure.
  • · Growth of the pharmaceutical and healthcare industry: The cold chain plays a critical role in the storage and distribution of pharmaceuticals and medical products, which are temperature-sensitive.
  • · Rising demand for energy-efficient solutions: Due to increasing environmental concerns, there is a growing demand for cold storage facilities that utilize energy-efficient technologies.

Key Players:

  • · Preferred Freezer Services
  • · Lineage Logistics Holdings, LLC
  • · Americold Logistics, LLC
  • · Burris Logistics
  • · Nichirei Logistics Group Inc.
  • · Swire Cold Storage Ltd.
  • · Hansen Cold Storage Construction
  • · Primus Builders
  • · A M King
  • · Tippman Group

Drivers and Opportunities:

  1. · Growing demand for food and beverages: The increasing population and rising disposable incomes are driving the demand for processed and packaged foods, which require cold storage for preservation.
  2. · Expanding e-commerce industry: The increasing popularity of online grocery shopping has created a need for more efficient and geographically dispersed cold storage facilities.
  3. · Need for improved food safety: Consumers are increasingly aware of the importance of food safety, which is leading to increased investment in cold storage infrastructure.
  4. · Growth of the pharmaceutical and healthcare industry: The cold chain plays a critical role in the storage and distribution of pharmaceuticals and medical products, which are temperature-sensitive.
  5. · Rising demand for energy-efficient solutions: Due to increasing environmental concerns, there is a growing demand for cold storage facilities that utilize energy-efficient technologies.

Segmentation by Type:

  1. · Production Stores: These stores are used for storing and processing food before it is distributed to retail outlets.
  2. · Bulk Stores: These stores are used for storing large quantities of food and other commodities.
  3. · Ports: Cold storage facilities at ports are critical for the import and export of perishable goods.
  4. · Others: This segment includes cold storage facilities used for a variety of purposes, such as storing flowers, chemicals, and ammunition.

Segmentation by Application:

  1. · Food & Beverages: This is the largest segment of the cold storage construction market, accounting for a significant share of the revenue.
  2. · Medical Products: The cold chain is essential for the storage and distribution of pharmaceuticals and medical products, which are temperature-sensitive.
  3. · Chemicals: Some chemicals require cold storage to maintain their properties and prevent degradation.
  4. · Others: This segment includes a variety of applications, such as the storage of artwork, electronics, and scientific samples.

Segmented by Region:

  • · North America: This region is expected to hold the largest share of the global cold storage construction market due to the strong presence of major players and the well-developed food and beverage industry.
  • · Asia-Pacific: This region is expected to witness the fastest growth in the cold storage construction market due to the rapid growth of the food and beverage industry and the increasing demand for e-commerce.
  • · Europe: This region is a mature market for cold storage construction, but it is still expected to experience growth due to the rising demand for food safety and the increasing awareness of the environmental benefits of cold storage technologies.
  • · Latin America: This region is expected to witness moderate growth in the cold storage construction market due to the increasing demand for food and beverages and the growing e-commerce industry.
  • · Middle East & Africa: This region is expected to experience slow growth in the cold storage

construction market due to the limited infrastructure and the lack of awareness about the benefits of cold storage technologies.

The global cold storage construction market is expected to continue experiencing strong growth in the coming years. This growth will be driven by a number of factors, including the growing demand for food and beverages, the expanding e-commerce industry, the need for improved food safety, and the increasing awareness of the environmental benefits of cold storage technologies.

The market is also expected to benefit from the development of new technologies, such as energy-efficient refrigeration systems and automated storage and retrieval systems.