The report "Cold Storage Construction Market by Storage Type (Production Stores, Bulk Stores, Ports), Application (Food & Beverages, Medical Products, Chemicals), and Region (Asia-Pacific, North America, Europe) - Global Forecasts to 2021"
The global cold storage construction market is projected to reach USD 10.47 Billion by 2021, at a CAGR of 14.0% from 2016 to 2021. Growth in the trade of perishable foods globally, technological advancements in refrigerated storage & transport, and the increase in demand for perishable foods is expected to drive the growth of the market in the near future.
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A cold storage facility is an installation used to cool or freeze items that are required to be kept at low temperatures so that they do not spoil. Such installations have specially designed features, such as insulated floors, ceilings, walls, and doors to prevent cold leakage.
A cold storage facility is a well-connected warehouse with truck and railroad platforms, compressor and condenser rooms for a refrigerating system, a cooling tower, reservoirs and a pumping station for a circulating water supply, and administration & residential buildings.
Asia-Pacific accounted for the largest share of the cold storage construction market in 2015 with China, India, and Turkey being the major markets for cold storage construction in Asia-Pacific. The rise in the commercial building & construction industry along with the increased buying capacity of end users is expected to boost the growth of the cold storage construction market in the region.
Food & beverages was the largest segment of the global cold storage construction market in 2015, in terms of volume. The growth of the organized retail sector has provided greater access to diverse and varied food, thus driving the growth of the cold storage market. Open trade policies and the emergence of an affluent middle class are other driving factors in the region.
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Key players operational in the global cold storage construction market include AmeriCold Logistics (U.S.), Proffered Freezer Services (U.S.), Burris Logistics (U.S.), Lineage Logistics Holding LLC (U.S.) and Nichirei Logistics Group Inc. (Japan), among others.
These players have focused on expansions, agreements, and acquisitions to cater to the diverse needs of customers and expand their presence in the market and are now focusing on developing products that will help in reducing fuel consumption.
Preferred Freezer Services (U.S.) is dedicated to designing, constructing, and operating state-of-the-art warehouses throughout the United States and Asia. It also has a global existence with cold storages in both China and Vietnam.
The company functions in locations throughout the United States with facilities in New York, New Jersey, California, Florida, Georgia, Illinois, Massachusetts, Pennsylvania, Texas, and Virginia.
The company has achieved an LEED certificate from U.S. Green Building Council for its facility in Chicago. LEED is a globally recognized green building certification system developed by the U.S. Green Building Council that verifies cold storages are built using performance metrics such as energy savings, water efficiency, CO2 emission reduction, improved indoor environmental quality, and stewardship of resources & sensitivity to their impacts.
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