The Cold Storage Construction market in the U.S. is estimated at US$3.2 Billion in the year 2022. The country currently accounts for a 26.43% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$5.4 Billion in the year 2026 trailing a CAGR of 20.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.4% and 16.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.1% CAGR while Rest of European market (as defined in the study) will reach US$6.3 Billion by the end of the analysis period. The US is witnessing pressing need to construct new cold storage facilities for addressing rising demand for COVID-19 vaccine rollouts and food delivery. The requirement is prompting more owners and developers to kick-start new cold storage construction projects in the country, with California being the primary destination for these projects.
Cold storage facilities located in coastal markets with access to ports and in vicinity of large population centers are in high demand. In the global Ports segment, USA, Canada, Japan, China and Europe will drive the 15.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$987 Million will reach a projected size of US$2.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$601 Million by the year 2026.
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