The North America cold storage market size is expected to reach $86.48 Billion by 2028 expanding at a CAGR of 10.7%
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.
- 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.
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