Projected to grow at a moderate CAGR between 2019 and 2029, demand for milk tank cooling systems will reach revenues in excess of US$ 820 Mn by the end of 2029. Growing necessity of raw milk storage for longer continues to push milk tank cooling system sales at a global level. The thriving trend of automated milk tank cooling systems will particularly shape the global milk tank cooling system market, as suggested by a new Future Market Insights (FMI) study.
Consistently increase in demand for continuous refrigeration systems during the perishable food chain transport would remain the key factor bolstering demand for milk tank cooling systems over the following years.
Key Takeaways - Milk Tank Cooling System Market Study
- Milk tank cooling systems play a vital role in the transportation of milk as the time lapse between milk collection and reaching the designated centre could result in milk spoilage.
- As a result of the flourishing dairy business, small- and medium-sized milk farms have been incorporated into the business structure of dairy cooperatives and other big farms. This led to fluctuations in milk tank cooling system market, as small- and medium-sized players have slowly been wiped out.
- Closed type in milk tank cooling systems is given preference, as these systems are integrated with self-cleaning and automatic temperature maintenance provisions as per the cooling stage. This has slowly led to decline in demand for open end type of milk tank cooling systems, which require manual labour for cleaning and constant supervision.
- In terms of capacity, milk tank cooling systems within 1,000 litre capacity are widely used owing to the ease of usage and operation. As compared to the higher capacity tanks, there are less indoor/outdoor placement issues as these require reduced space.
The demand for milk tank cooling systems is defined by the incorporation of automation into milk storage facilities. Product customization according to capacity, cleaning process, and temperature maintenance will contribute to the growth of the milk tank cooling systems market.
Milk Tank Cooling System Market: Competition Overview
For More Detailed Insights on Milk Tank Cooling System Market
The global milk tank cooling system market is highly competitive, with the presence of large number of small- and medium-sized players actively operating in the global market. Danfoss, GEA Group AG, Paul Mueller, Denso, and Packo Cooling are identified as prominent players in the global milk tank cooling system market. Adoption of automated milk tank cooling systems and association of local milk farms with dairy co-operatives are key growth strategies adopted by market participants.
Highly Lucrative Opportunities in South Asia Market
The demand for milk tank cooling systems is expected to gain significant traction in the coming years, owing increasing number of milk farms and processing plants. Milk tank cooling systems are a vital part of the milk transfer chain as the milk produced needs to be stored with efficient cooling transported to and fro between remote and urban areas. The market is anticipated to witness growth opportunities in the coming years with milk consumption being high in countries such as India, Thailand, Indonesia, and Malaysia.
What Is Covered in the Report?
The research scope of the global milk tank cooling system market has been primarily bifurcated into three segments: application, configuration and capacity. The study provides an in-depth analysis of market sizing, forecasting, and market share analysis for milk tank cooling system. The report delivers a comprehensive assessment of the important dynamics of the milk tank cooling system market. The scope of the research includes milk tank cooling systems installed in milk farms and milk processing plants.
To know more about report inclusions, write to firstname.lastname@example.org
About Industrial Automation & Equipment division of FMI
The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry stakeholders and channel partners when it comes to sustain, grow, and identify new revenue prospects.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.