Global Cold Storage Construction Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Regional Analysis, Drivers & Forecast 2023-2032

 

Global Cold Storage Construction Market

The global cold storage construction market size was valued at USD 9.7 billion in 2021 and expected to grow at a CAGR of 10.8% during the forecast period.

The global cold storage construction market refers to the construction and installation of refrigerated storage facilities used for storing perishable goods such as fruits, vegetables, dairy products, meat, and pharmaceuticals. These facilities are designed to maintain low temperatures to prevent spoilage and maintain the quality of the stored products. The cold storage facilities can be standalone units or part of a larger warehouse facility and can range from small, local facilities to large, complex facilities serving a global customer base. The construction of cold storage facilities involves the use of specialized materials and equipment to create a controlled environment, including insulation, refrigeration systems, and temperature monitoring equipment. The market also includes services such as design, engineering, and maintenance of cold storage facilities.

 

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Covid-19 Impact:

The global cold storage construction market has been impacted by the COVID-19 pandemic in both positive and negative ways.

Positive impacts:

Increased demand for cold storage facilities due to changing consumer behaviour: The pandemic has led to changes in consumer behaviour, such as increased online shopping and stockpiling of groceries, resulting in an increased demand for cold storage facilities to store perishable goods.

Demand for pharmaceutical storage facilities: The pandemic has also led to an increased demand for pharmaceutical products, which require temperature-controlled storage facilities. This has resulted in an increased demand for cold storage facilities to store vaccines and other pharmaceutical products.

Increased investments in healthcare infrastructure: The pandemic has led to increased investments in healthcare infrastructure, including cold storage facilities, to better prepare for future pandemics.

Negative impacts:

Supply chain disruptions: The pandemic has disrupted supply chains, resulting in delays in the construction of cold storage facilities due to a shortage of materials, equipment, and labour.

Economic slowdown: The pandemic has led to an economic slowdown, resulting in a decline in construction activity and a reduction in investments in new cold storage construction projects.

Uncertainty in the market: The pandemic has created uncertainty in the market, leading to a delay in investment decisions and a shift in priorities, resulting in a slowdown in the growth of the cold storage construction market.

Overall, the impact of the COVID-19 pandemic on the cold storage construction market has been mixed, with some positive and negative impacts. However, the long-term outlook for the market remains positive due to the increasing demand for cold storage facilities for both perishable goods and pharmaceutical products.

Market Dynamics:

Drivers:

Increasing demand for perishable food and pharmaceutical products: As the global population continues to grow, there is an increasing demand for perishable food and pharmaceutical products that require temperature-controlled storage. This is driving the growth of the cold storage construction market.

Growth in e-commerce and online grocery sales: The rise of e-commerce and online grocery sales is driving the demand for cold storage facilities to support the storage and distribution of perishable goods.

Government initiatives to support food security: Many governments around the world are implementing initiatives to support food security, including investments in cold storage facilities to reduce food waste and ensure a stable food supply.

Advancements in technology: Advancements in cold storage technology, such as improved insulation, energy-efficient refrigeration systems, and temperature monitoring equipment, are driving the growth of the cold storage construction market.

Expansion of the pharmaceutical industry: The pharmaceutical industry is expanding rapidly, and there is an increasing demand for temperature-controlled storage facilities to support the storage and distribution of pharmaceutical products.

 

Market Segmentation:

Type of construction: The market can be segmented based on the type of construction, such as pre-engineered buildings, concrete buildings, and others.

Temperature range: The market can be segmented based on the temperature range, such as refrigerated and frozen storage.

Application: The market can be segmented based on the application, such as food and beverages, pharmaceuticals, chemicals, and others.

Region: The market can be segmented based on the geographical region, such as North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.

 

Key Player:

Some of the key players in the market include:

Americold Realty Trust

Lineage Logistics Holdings, LLC

AGRO Merchants Group

Nichirei Logistics Group Inc.

Tippmann Group

Burris Logistics

VersaCold Logistics Services

Preferred Freezer Services

Kloosterboer Group B.V.

Interstate Warehousing, Inc.

These companies are focusing on expanding their presence in the market by developing new cold storage facilities, acquiring smaller companies, and investing in research and development to improve their services and operations. Additionally, companies are focusing on implementing new technologies such as automation and energy-efficient refrigeration systems to improve their efficiency and reduce costs.

The cold storage construction market is also characterized by the presence of several local and regional players, especially in developing countries. These companies offer low-cost services to gain a competitive advantage over established players. To remain competitive, established players are focusing on providing high-quality services and adopting sustainable practices to attract customers.

Overall, the cold storage construction market is expected to remain highly competitive, with companies focusing on innovation, sustainability, and cost-effectiveness to maintain their market position.

Regional Analysis:

North America: The North American region is expected to witness significant growth in the cold storage construction market due to the increasing demand for temperature-controlled storage facilities for perishable food and pharmaceutical products. The rise of e-commerce and online grocery sales is also driving demand for cold storage facilities in this region.

Europe: The European region is expected to witness moderate growth in the cold storage construction market due to the increasing focus on food safety and sustainability. The expansion of the pharmaceutical industry in Europe is also driving demand for cold storage facilities.

Asia-Pacific: The Asia-Pacific region is expected to witness significant growth in the cold storage construction market due to the increasing population, rising disposable incomes, and changing dietary habits. The growth of the e-commerce sector and increasing demand for pharmaceutical products in this region are also driving the demand for cold storage facilities.

Middle East and Africa: The Middle East and Africa region is expected to witness moderate growth in the cold storage construction market due to the increasing investments in infrastructure and government initiatives to support food security.

Latin America: The Latin American region is expected to witness moderate growth in the cold storage construction market due to the increasing demand for temperature-controlled storage facilities for perishable food and pharmaceutical products. The growth of the e-commerce sector in this region is also driving demand for cold storage facilities.

 

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Key Points

• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.

• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.

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