Building and ConstructionAugust 31, 2023

Global Cold Storage Construction Market

As stated in our extensive report, the Global Cold Storage Construction Market accounted for USD 9.5 Billion in 2022 and is projected to reach a value of USD 19.7 Billion by 2030.

Various reasons have contributed to the consistent expansion of the worldwide Cold Storage Construction Market in recent years. The development of e-commerce and online grocery shopping, strict regulations and food safety standards, rising investment in the food and beverage industry, and an increase in demand for frozen food products due to their longer shelf life are some of the factors fueling the growth of the Cold Storage Construction Market. The market for Cold Storage Construction has expanded in part due to the rising need for cold storage facilities for pharmaceuticals and vaccines. Moreover, the development of contemporary, high-capacity cold storage facilities that can effectively manage temperature, humidity, and other environmental variables is being fueled by the growing adoption of energy-efficient solutions and cutting-edge technologies, such as automation. The construction of new refrigerated warehouses and the extension of existing ones has also been prompted by the desire to reduce food loss and operational expenses. The demand for temperature-controlled storage range and distribution solutions is growing, leading to significant growth for the cold storage building industry over the next few years.

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Key factors influencing Cold Storage Construction Market Growth

The growth of the global Cold Storage Construction market can be attributable to the following:

  1. The market for convenience foods has been steadily expanding due to changing lifestyles, increased working professionals, and the demand for quick and simple meals. This increased demand for cold storage facilities to keep and preserve perishable commodities.
  2. The retail sector is expanding significantly Because of the rising demand for supermarkets, hypermarkets, and online grocery shopping. This has made a strong supply chain necessary, and in order to keep perishable items fresh and in top shape, cold storage facilities must be built.
  3. Governments all over the world are launching a number of projects to improve agricultural methods and raise food security. The demand for cold storage facilities to preserve and store perishable products is increasing due to these programs, such as subsidies and incentives, pushing farmers to increase their production.
  4. Cold storage building has benefited from technological developments that have created economical and energy-efficient facilities. These developments have increased the number of facilities being built globally and made the construction of cold storage facilities more feasible and economical.
  5. A rise in the demand for locally and organically produced items results from changing consumer preferences and habits. Order to keep the perishable commodities fresh and in good condition has increased demand for cold storage facilities, further fueling the expansion of the cold storage building industry.

North America Region to Lead the Market

North America Cold Storage Construction market is getting more notable, with the highest market sales during the projected period. The booming food and beverage sector in the area, which also produces and stores frozen and chilled goods, positively impacts the market’s growth. The demand for cold storage facilities is driven by numerous sizable food processing and distribution companies in North America, including Tyson Foods, Nestlé, and Sysco. The region’s highly developed infrastructure and logistical networks help to support the expanding market by facilitating the effective distribution and storage of goods that require specific temperatures. Additionally, improvements in Cold Storage Construction methods and technologies have greatly improved the sector in North America. For instance, installing energy-efficient solutions, such as automated temperature control systems, high-performance insulation, and LED lighting, has improved sustainability in cold storage facilities while lowering operational costs.

Conclusion

The overall Cold Storage Construction market sales have been favorably impacted by growing demand for convenience foods, retail industry expansion, initiatives to boost agricultural practices and increase food security by the government, and technological advancements in Cold Storage Construction.

The well-known players of the Global Cold Storage Construction Market include Versa Cold Logistics Services (Canada), Tippman Group (U.S.), Americold Logistics LLC (U.S.), Burris Logistics (U.S.), Primus Builders Inc. (U.S.), Lineage Logistics (U.S.), United States Cold Storage Inc. (U.S.), Preferred Freezer Services LLC (U.S.) and others.