Refrigerated Transport Market Size - By Mode of Transportation (Refrigerated Road Transport, Refrigerated Sea Transport, Refrigerated Rail Transport, Refrigerated Air Transport), By Application, By Temperature, By Technology & Forecast, 2024 - 2032

Refrigerated Transport Market Size

Refrigerated Transport Market size was valued at USD 125.6 billion in 2023 and is anticipated to grow at a CAGR of over 6% between 2024 and 2032, due to the rising global demand for perishable goods. The production and delivery of temperature-sensitive items are increasing in sectors such as chemicals, medicines, and agriculture as customer preferences shift toward fresh & frozen meals.
 

Rising income levels, urbanization, and the shifting eating habits, particularly in emerging markets, contribute to this trend. Perishable goods must be transported refrigerated to ensure that they are safe and of the highest quality throughout the supply chain and that they arrive at customers in perfect condition. To satisfy rising demand, businesses are extending refrigerated logistics and investing in cutting-edge refrigeration systems, driving innovations and efficiency in the refrigerated transport industry.
 

Stringent food safety laws and compliance standards present major obstacles for the refrigerated transport market. To ensure safe handling, storage, and transportation of perishable goods, governments & international organizations impose stringent regulations. Compliance with these regulations requires investments in specialized equipment, monitoring systems, and trained workers to ensure constant temperature control & hygiene requirements.
 

Companies engaged in refrigerated transportation may suffer from expensive fines, product spoilage, and reputational harm to their brand if it fails to comply with the regulations. Industry participants must constantly update their infrastructure and procedures to meet the compliance standards while striking a balance between operational efficiency and cost-effectiveness in a competitive market. On the other hand, regulations are changing and becoming more demanding globally.
 

There are major obstacles in refrigerated transportation due to high energy consumption and operating expenses. Requiring accurate temperature control, every stage of the supply chain uses more energy, consequently raising the operating costs. The ongoing monitoring and maintenance required for refrigeration systems, which are essential for preserving perishable items, drive up costs.
 

Further influencing the operating costs are the changes in fuel prices and legislative efforts to lower carbon emissions. To address these issues, businesses in the refrigerated transportation industry need to find innovative solutions for energy-saving devices, improve route planning, and implement sustainable practices. To be profitable and successful in this competitive market, cost-effectiveness and environmental sustainability must be constantly balanced.
 

Refrigerated Transport Market Trends

The market for refrigerated transport is changing owing to the growth of e-commerce and direct-to-consumer delivery. Consumers are choosing to purchase perishable items, such as fresh produce, dairy products, and meal packages, online due to its convenience. Urbanization, shifting lifestyles, and an increase in convenience demand are the key drivers of this change. In response, refrigerated transport providers are investing in specialized cars and logistical systems that can uphold exacting temperature standards throughout the delivery procedure. To ensure product integrity while in transit, refrigerated transport providers are also incorporating innovative tracking and monitoring technologies.
 

In addition to meeting customer expectations for quality and freshness, this trend offers potential for creativity in last-mile delivery strategies that are effective and specifically designed to handle the difficulties associated with delivering perishable goods right to customers' doorsteps. For instance, in June 2023, a major online grocery retailer expanded its refrigerated delivery fleet to include electric vehicles equipped with advanced cooling systems, enhancing the delivery of fresh produce and dairy products to its urban customers.
 

In the refrigerated transport market, the use of telematics and the Internet of Things (IoT) is changing cold chain management. IoT sensors integrated inside refrigerated containers and automobiles allow for real-time and continuous monitoring of temperature, humidity, and other environmental factors. This information is sent to centralized platforms for analysis to maintain product quality and ensure adherence to strict food safety laws. By limiting the chance of product deterioration, reducing fuel costs, and optimizing route planning, telematics systems further improve operational efficiency.
 

Cold chain operational performance and customer happiness can be enhanced by refrigerated transport operators with IoT and telematics to deliver more transparent & dependable services. For instance, in August 2023, a global logistics provider implemented IoT-enabled cold chain solutions across its fleet, allowing real-time monitoring & remote control of temperature-sensitive shipments, ensuring compliance and reducing wastage.
 

Refrigerated Transport Market Analysis

Based on application, the market is divided into chilled food products, frozen food products, and pharmaceuticals. The chilled food products segment dominates the market and is expected to reach over USD 94 billion by 2032.
 

• The refrigerated transport market's chilled food products segment is dedicated to moving perishable goods that need to be kept at a moderate temperature, not below freezing, to preserve their freshness and quality. Goods including dairy products, fresh fruits & vegetables, meats, seafood, and ready-to-eat meals are included in this category. Transporting chilled food goods requires specialized refrigeration systems that must maintain temperatures between 0°C and 5°C (32°F and 41°F) to prevent spoilage and ensure compliance with food safety regulations.
   
• To improve shelf life during distribution, reduce transit times, and optimize temperature control, companies in this industry invest in cutting-edge refrigerated vehicles, containers, and logistical solutions. As customer tastes change in favor of fresher, healthier foods, there is an increasing need for chilled food goods, which is driving innovations and investments in the refrigerated transport industry.
   

Based on technology, the refrigerated transport market is categorized into vapor compression systems, air-blown evaporators, eutectic devices, and cryogenic systems. The air-blown evaporators segment is the fastest growing segment with a CAGR of over 7% between 2024 and 2032.
 

• An essential part of refrigeration systems used in refrigerated transportation are air-blown evaporators. To maintain uniform distribution of cold air and consistent temperatures for perishable items, these evaporators function by circulating chilled air within refrigerated compartments/trailers. Their purpose is to effectively eliminate heat from the air within the refrigerated area, averting temperature swings that can jeopardize the safety and quality of the products.
   
• Air-blown evaporators are essential for maintaining the freshness and integrity of chilled & frozen food goods during transportation when they are refrigerated. Their ability to precisely manage temperature enables them to comply with strict food safety rules and ensure that perishable goods reach their destination in the best possible condition. To increase dependability, lower environmental impacts, and improve energy efficiency in the harsh environment of refrigerated transport operations, manufacturers are constantly exploring innovative designs for air-blown evaporators.
   

North America dominated the global refrigerated transport market in 2023, accounting for a share of over 37%. The U.S. plays a pivotal role in the market, leveraging its extensive agricultural production and global food exports. It is a significant exporter of perishable items including meat, dairy, fruits, & vegetables, and it mostly relies on refrigerated transportation to maintain the freshness and high-quality of its products throughout the distribution channel.
 

Efficient cold chain management is supported by the nation's sophisticated logistical infrastructure, which includes a fleet of refrigerated trucks, containers, and warehouses. Furthermore, businesses based in the U.S. are at the forefront of creating and implementing cutting-edge refrigeration technology such as IoT-enabled cold chain monitoring systems and energy-efficient systems. By consistently and effectively providing high-quality perishable items, these innovations not only guarantee adherence to strict food safety requirements but also boost the competitiveness of U.S. agricultural exports in international markets.
 

China's burgeoning food production and distribution sectors are driving the country's increasing significance in the refrigerated transport market. The need for effective refrigerated transport is driven by the nation's growing middle class and urbanization, which increases both the demand for fresh and imported commodities. Chinese businesses are making investments in cutting-edge technologies and refrigerated transport infrastructure to satisfy these needs and raise food safety & quality requirements.
 

Japan has a highly developed refrigerated transportation market, which is essential to its food import-dependent economy. Japanese businesses place a strong emphasis on accuracy and dependability regarding preserving temperature-controlled perishable commodities logistics. New developments in cold chain technologies, such as sophisticated refrigerated vehicles and containers, ensure effective local and worldwide transportation of fresh produce and seafood. Japan continues to be a leader in maintaining high standards in refrigerated transportation owing to its strict food safety rules.
 

The refrigerated transport sector in South Korea is distinguished by strong logistics networks that underpin the country's import-dependent food supply chain. The nation's emphasis on cold chain management efficiency and technical innovations ensure safe & dependable delivery of perishable commodities, including fruits, vegetables, and seafood. To preserve product purity and freshness, South Korean businesses place a high priority on integrating cutting-edge refrigeration systems and logistics solutions.
 

Refrigerated Transport Market Share

Daikin Industries Ltd. and Fenagy hold a significant share of over 25% in the refrigerated transport industry. Daikin Industries Ltd., based in Japan, is a global leader in air conditioning and refrigeration technologies, with a significant presence in the refrigerated transport market. Daikin is a leader in creating cutting-edge refrigeration systems and solutions for a range of uses including chilled transportation.
 

The company's inventions are concentrated on precision temperature control, dependability, and energy efficiency, which are critical for preserving product freshness while in transit. With its extensive experience in Heating, Ventilation, and Air Conditioning (HVAC) technology, Daikin can provide reliable & sustainable refrigeration systems that satisfy the exacting standards of refrigerated transport, facilitating the secure & effective international transportation of perishable commodities.
 

Fenagy is a technology company specializing in innovative solutions for energy-efficient refrigeration systems, particularly in the refrigerated transport sector. It manufactures small & environment-friendly cooling systems that maximize energy consumption without compromising performance, owing to innovative thermodynamic principles. Fenagy's solutions are designed to minimize environmental impacts while ensuring dependable temperature management in the unique requirements of refrigerated transport. Due to its emphasis on sustainability and technical innovations, the company is positioned to play a significant role in improving the effectiveness & dependability of refrigerated transport, helping to maintain the safety and quality of products during transit.
 

Refrigerated Transport Market Companies

Major players operating in the refrigerated transport industry are:

• C.R.England Inc.
• C.H. Robinson Worldwide, Inc.
• Daikin Industries Ltd.
• Fenagy
• Great Dane LLC
• J. B. Hunt Transport Services, Inc.
• Kuehne + Nagel International AG
   

Refrigerated Transport Industry News

• In June 2024, Carrier Global Corporation announced a strategic partnership with a leading logistics provider to deploy advanced refrigerated containers equipped with IoT technology. The purpose of this partnership is to improve real-time tracking and guarantee ideal temperature management for perishable goods via international supply chains. Carrier and its partner seek to lower spoiling risks, increase operational efficiency, and satisfy the growing need for dependable cold chain logistics solutions in the international market by using IoT technology.
   
• In May 2024, Thermo King, a subsidiary of Trane Technologies, introduced its latest refrigeration unit designed for long-haul trucks. Sustainable cooling technologies are integrated with this new unit to maximize energy efficiency and reduce environmental impacts. With its innovative approach, Thermo King meets industry expectations for environmentally friendly refrigerated transport solutions, providing operators with increased operational sustainability and lower operating costs. The sophisticated features of the unit support international initiatives to promote greener logistics practices by optimizing temperature control and ensuring the safe transportation of perishable commodities.
   

The refrigerated transport market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD billion) from 2021 to 2032, for the following segments:

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Market, Mode of Transportation

• Refrigerated road transport
• Refrigerated sea transport
• Refrigerated rail transport
• Refrigerated air transport

Market, By Technology

• Vapor compression systems
• Air-blown evaporators
• Eutectic devices
• Cryogenic systems
• Others

Market, By Application

• Chilled food products
  • Dairy products
  • Bakery and confectionery products
  • Fresh fruits and vegetables
  • Others
• Frozen food products
  • Frozen dairy products
  • Processed meat products
  • Fish and seafood products
  • Others
• Pharmaceuticals
• Others

Market, By Temperature

• Multiple temperature
• Single temperature

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA