Product ID: SQMIG25C2104
Report ID:
SQMIG25C2104 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
92 |
Figures:
76
North America had the highest revenue share of more than 35% in 2021 and it is anticipated to maintain its dominance throughout the forecast period, as the region offers enormous growth prospects for enterprises willing to invest for the long term. Increased adoption of connected devices, as well as a huge customer base, are projected to drive market growth over the forecast period. However, due to increased government investments in logistics infrastructure development and the penetration of Warehouse Management Systems, Asia Pacific is expected to be the fastest-growing regional market over the forecast period (WMS). China is the most significant contributor to the APAC regional market. Factors such as technological developments in packing, processing, and storage of marine items are credited to market expansion in China. Rising demand and expanding cold chain infrastructure development have propelled China to the top of the cold chain industry. China is currently undertaking a rapid shift from construction- and manufacturing-led to a consumer-led economy. Rising pharmaceutical innovation in China is also projected to enhance demand for cold chain solutions. Another important element boosting the market is the region's rapid expansion of biopharma.
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REQUEST FREE CUSTOMIZATIONCold Chain Market size was valued at USD 236.03 billion in 2019 and is poised to grow from USD 279.94 billion in 2023 to USD 1071 billion by 2031, growing at a CAGR of 18.6% in the forecast period (2024-2031).
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Product ID: SQMIG25C2104