The global market for Road Transport Refrigeration Equipment was estimated at US$5.5 Billion in 2024 and is projected to reach US$7.6 Billion by 2030, growing at a CAGR of 5.4% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Road Transport Refrigeration Equipment market.
Global Road Transport Refrigeration Equipment Market - Key Trends & Drivers Summarized
What Is Road Transport Refrigeration Equipment?
Road transport refrigeration equipment is specialized machinery used to transport perishable goods, such as food and pharmaceuticals, under controlled temperatures. This equipment includes refrigerated trucks, trailers, and vans equipped with cooling systems that maintain the required temperature throughout the journey. These systems are crucial for ensuring the quality and safety of perishable products during transit, preventing spoilage, and extending shelf life. The technology used in road transport refrigeration includes advanced compressors, condensers, evaporators, and insulation materials that work together to provide efficient and reliable temperature control.How Are Market Demands Shaping This Industry?
Market demands are significantly shaping the road transport refrigeration equipment industry. The increasing demand for fresh and frozen foods, driven by changing consumer preferences and the expansion of the global food supply chain, is boosting the need for reliable refrigeration solutions. The growth of e-commerce and home delivery services, especially for perishable goods, is further propelling market demand. Additionally, stringent regulations on food safety and the transportation of pharmaceuticals require advanced refrigeration equipment to comply with temperature control standards. The rise in international trade of perishable products is also driving the demand for efficient and durable refrigeration equipment.What Technological Innovations Are Influencing This Market?
Technological innovations are transforming the road transport refrigeration equipment market. Advances in refrigeration technology, such as the development of eco-friendly refrigerants and energy-efficient cooling systems, are enhancing the performance and sustainability of these units. The integration of telematics and IoT (Internet of Things) technologies is enabling real-time monitoring and control of temperature and other critical parameters, improving the reliability and efficiency of refrigerated transport. Innovations in insulation materials and compressor technology are reducing energy consumption and operational costs. Additionally, the development of hybrid and electric-powered refrigeration units is addressing the need for environmentally sustainable transport solutions.What Factors Are Driving Market Growth?
The growth in the road transport refrigeration equipment market is driven by several factors, including the increasing demand for perishable goods, the expansion of e-commerce, and stringent regulations on food and pharmaceutical transportation. The growing consumer preference for fresh and frozen foods is boosting demand for reliable refrigeration solutions. The rise of online grocery shopping and home delivery services is further propelling market growth. Technological advancements in refrigeration and telematics are enhancing the efficiency and reliability of transport refrigeration equipment. Additionally, the push for environmentally sustainable solutions is driving the development of energy-efficient and eco-friendly refrigeration units. These factors collectively ensure robust growth in the road transport refrigeration equipment market.SCOPE OF STUDY:
The report analyzes the Road Transport Refrigeration Equipment market in terms of units by the following Segments, and Geographic Regions/Countries:- Segments: Install Vehicle (Trailers, Heavy Trucks, Vans & Light Trucks); Application (Food & Beverage, Pharmaceutical & Healthcare, Other Applications)
- Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Trailers segment, which is expected to reach US$4.3 Billion by 2030 with a CAGR of a 4.9%. The Heavy Trucks segment is also set to grow at 5.7% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $1.9 Billion in 2024, and China, forecasted to grow at an impressive 6.6% CAGR to reach $714.6 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Road Transport Refrigeration Equipment Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Road Transport Refrigeration Equipment Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Road Transport Refrigeration Equipment Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as Carrier Global Corporation, GAH (Refrigeration) LTD., Great Dane, a Division of Great Dane LLC., Hubbard Products Ltd., Hultsteins Kyl AB and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 70 companies featured in this Road Transport Refrigeration Equipment market report include:
- Carrier Global Corporation
- GAH (Refrigeration) LTD.
- Great Dane, a Division of Great Dane LLC.
- Hubbard Products Ltd.
- Hultsteins Kyl AB
- Jean Chéreau SAS
- Lamberet SAS
- Mitsubishi Heavy Industries Thermal Systems, Ltd.
- Morgan Truck Body, LLC
- Sainte Marie Constructions Isothermes S.M.C.I
- Schmitz Cargobull AG
- Trane Technologies plc
- FRIGOBLOCK GmbH
- Thermo King Corporation
- Wabash National Corporation
This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:
- Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
- Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
- Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
- Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
- Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
- Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
- Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
REST OF EUROPE
ASIA-PACIFIC
REST OF WORLD
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Carrier Global Corporation
- GAH (Refrigeration) LTD.
- Great Dane, a Division of Great Dane LLC.
- Hubbard Products Ltd.
- Hultsteins Kyl AB
- Jean Chéreau SAS
- Lamberet SAS
- Mitsubishi Heavy Industries Thermal Systems, Ltd.
- Morgan Truck Body, LLC
- Sainte Marie Constructions Isothermes S.M.C.I
- Schmitz Cargobull AG
- Trane Technologies plc
- FRIGOBLOCK GmbH
- Thermo King Corporation
- Wabash National Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 334 |
| Published | June 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 5.5 Billion |
| Forecasted Market Value ( USD | $ 7.6 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
