The demand in China The milk tank cooling systems market is expected to grow by 4.1% CAGR between 2022 and 2029 in value. Asia Pacific and Europe together are the largest milk producers in the world, accounting for a share of over 65%.
NEWARK, Del., October 14, 2022 /PRNewswire/ — The World Milk Tank Cooling Systems Market should reach a value of $822.5 by 2029, with market growing at a stagnant CAGR of 3.3% from 2022 to 2029. Valued at US$636.5 million in 2021, the target market is expected to reach a US$656.7 million in 2022. Rising utilization of machinery along with demand for premium quality products across several industry verticals is fueling the growth of the Milk Tank Cooling Systems market. The integration of smart devices in various machines is further contributing to the expansion of the milk tank cooling systems market over the forecast period.
Industries around the world are embracing automation to increase efficiency and reduce labor costs. An increasing shift in preference towards the use of magnetrons for industrial coating due to its advantages such as ability to coat heat sensitive substrates, ease of sputtering, high deposition rate and strong film adhesion will increase demand in the target market.
In addition, considerable investment in dairy farming, incentives from regulatory agencies to use bulk storage tanks, the provision of a sustainable supply of milk around the world, and the rapid evolution of cooperative dairy enterprises in rural areas across the globe are likely to drive market growth during this period. observation period.
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With more and more collection points located in remote areas, the reach of these systems in the milk transport market is also increasing. The increase in the volume of exported milk also contributes to the growth of cooling systems for milk tanks. Other factors such as temperature differences in different continents and an increase in milk production in African and Central American countries are also supporting the growth of the target market during the forecast period.
“Increased investment in dairy farming, export and distribution of milk in the countries, and implementation of advanced technologies will propel the global growth of the milk tank cooling systems market during the forecast period,” said an IMF analyst.
Key points to remember:
The increase in the application of advanced technologies will strengthen the market prospects during the period 2022-2029.
In 2022, the milk tank cooling systems market in Germany will generate revenue worth more than US$53.9 million.
The milk tank cooling systems market in United States will register a CAGR of 2.2%.
india The Milk Tank Cooling Systems Market will grow at a CAGR of 4.7% during the assessment period.
By capacity, the 1000-5000 segment will see strong demand.
Based on applications, the dairy farm segment will account for approximately 86.4% of the market share by 2029.
Danfoss, Paul Mueller Company, Delaval, GEA Group AG, Packo Cooling, Dairymaster, Fabdec Ltd, Serap Group, Boumatic, Wedholms AB, Daviesway Pty Ltd., Fil SPA, Milkplan and Macrold Ltd., among others, are some of the major players of the Milk Tank Cooling Systems Market presented in the full version of the report.
Major market players are stepping up their M&A activities to improve their supply and distribution channels. Some of the other companies in the market want to incorporate new technologies into their product to gain a competitive advantage.
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More information about the Milk Tank Cooling System market report
In its latest report, FMI offers an unbiased analysis of the Global Milk Tank Cooling Systems Market, providing historic data from 2014 to 2021 and forecast statistics from 2022 to 2029. To understand the potential, growth, and scope of the global market, the market is segmented. based on application (dairy farm, milk processing plant), configuration (closed end (horizontal, vertical), open end), capacity (less than 1000L, 1000-5000L , 5,000-10,000 L, greater than 10,000 L) and the region.
According to the latest IMF reports, based on segmentation, the 1000-5000 Lt capacity segment is expected to see strong demand, especially from large dairy farms. This segment is expected to account for 1/3 of the revenue share and generate a growth opportunity of US$58.6 million. In terms of application, the dairy farm segment is expected to dominate the market due to high consumer demand for milk and related products. By 2029, the dairy farm segment will hold approximately 86.4% of the global market share.
Based on region, the Milk Tank Cooling System Market in Germany expected to experience significant growth and exceed revenue value US$53.9 million by the end of 2022. Availability of a wide range and high quality of dairy products coupled with the use of advanced approaches in milk and livestock maintenance will aid in the growth of the target market in this country . Other nations like United States and India will also exhibit notable growth in the milk tank cooling systems market in this country over the forecast period.
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Global Milk Tank Cooling System Market by Category
milk processing plant
Less than 1000L
1000 – 5000L
5000 – 10000L
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Trends
1.4. Analysis and recommendations
1.5. Key strategic analysis
2. Market Overview
2.1. Market definition
2.2. Market Taxonomy
2.3. The key to success
3. Market context
3.1. Macroeconomic factors
3.2. Industrial Refrigeration Import and Export Scenario
3.3. Milk value chain analysis
4. Market dynamics
5. Global Milk Tank Cooling System Market Demand Analysis 2014-2021 and Forecast, 2022-2029
5.1. Historical Market Volume Analysis (Mn Units), 2014-2021
5.2. Current & Future Projections of Market Volume (Mn Units), 2022-2029
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