The global cold storage construction market is valued at US$ 13.4 billion in 2023 and is projected to reach US$ 49.6 billion by 2033. Global demand for cold storage construction services is predicted to increase rapidly at a CAGR of 14% during the next 10 years. The cold storage construction market refers to the construction of facilities that are designed to store temperature-sensitive goods such as food, pharmaceuticals, and other perishable items. These facilities are typically equipped with refrigeration and climate control systems that maintain a consistent temperature and humidity level to preserve the quality and freshness of the stored products.
The demand for cold storage construction has been increasing in recent years due to the growth of the food and beverage industry, which has led to an increase in demand for refrigerated storage and distribution facilities. Additionally, the growth of the pharmaceutical industry has also contributed to the demand for cold storage facilities. The cold storage construction market includes a wide range of construction services such as design, engineering, and construction of the facility. The market also includes the installation of refrigeration and climate control systems, as well as the maintenance and repair of these systems.
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Key Takeaways from Market Study
- Sales of cold storage construction materials are expected to increase at a CAGR of 14% from 2023 to 2033.
- The market in Germany is predicted to expand rapidly at a CAGR of 13% during the forecast period.
- The use of cold storage technologies in production stores is expected to surge at a CAGR of 15%.
- China's cold storage construction market is set to evolve at a CAGR of 17%.
Region wise Insights
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To gain more profits and increase their market position, leading cold storage construction companies are adopting several organic and inorganic marketing tactics such as mergers, acquisitions, and partnerships.
- In February 2019, Lineage Logistics, a trusted and innovative supplier of temperature-controlled logistics solutions, announced a plan to purchase Preferred Freezer Services, a global network of cutting-edge, temperature-controlled warehouses. The company's decision is anticipated to strengthen its position in the market.
Key Companies Profiled in This Report are:-
- 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.
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Reasons why Demand for Cold Storage Construction Materials Gaining Traction?
- Expanding Worldwide Exchange of Short-lived Products
- Quickly Creating Frozen Food Area across Districts
- High Cool Stockpiling Development Establishments in Clinical Foundations
Key Questions Covered
What are the challenges facing the cold storage construction market, and how are companies addressing these challenges?
Original Source of the original story >> Cold Storage Construction Industry Set to Flourish with Increased Emphasis on Food Safety and Quality