Demand In China Milk Tank Cooling System Market Is Expected To Increase By 4.1% Cagr Between 2022 And 2029
According to Future Market Insights (FMI) the Global Milk Tank Cooling System Market is expected to grow with a year-on-year growth of 3.2% in 2022 reaching a value of about US$ 656.7 Mn by 2022 end. Industry is implementing automation to increase efficiency and reduce labour costs. Between 2022 and 2029, the global Milk Tank Cooling System Market is expected to grow at a significant CAGR of 3.3 percent.
FMI has identified Europe as one of the most important markets. Europe leads the global market for milk tank cooling systems due to its significant dairy sector share, followed by North America. By the end of 2029, North America and Europe are expected to have a combined revenue share of 54.6 percent of the global market.
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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.
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Milk Tank Cooling System Market: Competition Overview
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.
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.
Global Milk Tank Cooling System Market by Category
By Application :
- Milk Farm
- Milk Processing Plant
By Configuration :
- Closed end
- Open end
By Capacity :
- Less than 1000 L
- 1000 – 5000 L
- 5000 – 10000 L
- Above 10000 L