PUBLISHER: Inkwood Research | PRODUCT CODE: 1139212
PUBLISHER: Inkwood Research | PRODUCT CODE: 1139212
The United States cold storage market is estimated to project a CAGR of 7.81% during the forecast period, 2022-2030. The market growth is attributed to technological advancements, the growing demand for cold storage facilities in the pharmaceutical industry, and the thriving processed food sector.
In the United States, pharmaceutical industries encompass increased demands for exacting cold storage conditions as compared to most food products. These entail extremely precise humidity, temperature controls, and occasional light sensitivity controls. Also, there is a growing demand for biological medications. These need stringent cold chain storage because they are susceptible to extreme temperatures during shipping.
In addition, biological products exposed to extreme cold or heat may harm the recipients along the lines of repeated symptoms and clinical setbacks. Accordingly, expenditure on temperature-controlled drug shipping is on the rise twice that of pharmaceutical products. As a result, the increasing number of biologic pharmaceuticals offers lucrative growth opportunities for the United States cold storage market.
Furthermore, several service providers are upgrading old infrastructure with new machinery and technology, given the rising construction and labor costs. Besides, operators are looking for innovative ways to automate their procedures. These include using refrigeration plugins, water reclamation systems, solar panels, and energy management systems. Such factors propel the United States cold storage market growth.
Some of the leading companies in the market include: Lineage Logistics, Cold Box Express Inc, Wabash National Corporation, VersaCold Logistics Services, etc.