Refrigerated Transport Market Report 2026

The refrigerated transport market size has grown strongly in recent years. It will grow from $129.58 billion in 2025 to $139.43 billion in 2026 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to expansion of global food trade, growth of pharmaceutical distribution, increasing urban population demand for fresh food, availability of refrigerated vehicle fleets, growth of organized retail.

The refrigerated transport market size is expected to see strong growth in the next few years. It will grow to $187.93 billion in 2030 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to increasing investments in cold chain infrastructure, rising adoption of smart monitoring solutions, expansion of cross-border refrigerated transport, growing focus on sustainable logistics, increasing demand for frozen food distribution. Major trends in the forecast period include expansion of integrated cold chain networks, growing use of real-time temperature tracking, rising demand for multi-modal refrigerated transport, adoption of energy-efficient cooling technologies, enhanced focus on product integrity during transit.

The growing consumption of frozen food products is driving the expansion of the refrigerated transport market. Frozen variants involve pre-treatment processes such as blanching, heat treatment, dipping, and cryoprotection, depending on the type of product being preserved. The widespread adoption of frozen versions of fresh foods is increasing because they are more convenient, widely available, cost-effective, and can help boost overall food consumption, including vegetables. For instance, in December 2023, according to Frozen Food Europe, a UK-based publication covering the frozen food industry, the global frozen food market was valued at USD 392.4 billion in 2022 and is projected to reach USD 612.3 billion by 2032. In 2022, Europe accounted for approximately 37% of the global frozen food market. Therefore, the rising demand for frozen food products is contributing to the growth of the refrigerated transport market.

Major companies operating in the refrigerated transport market are focusing on product innovation, such as the development of electric-driven transport refrigeration units, to gain a competitive advantage. Electric-driven transport refrigeration vehicles are equipped with refrigeration systems powered by electricity rather than conventional fuel sources. For example, in September 2023, Mitsubishi Heavy Industries Thermal Systems, Ltd., a Japan-based thermal solutions company, introduced the TEJ35GAM electric-driven transport refrigeration unit for small and mid-sized trucks. The unit features a plug-in hybrid system that seamlessly switches between external charging and battery operation, ensuring continuous refrigeration even when vehicles are parked or idling. It also incorporates a heat-pump system that enables simultaneous cooling and heating of separate cargo compartments, supporting stable temperature control across different seasons while improving energy efficiency and reducing CO₂ emissions.

In January 2025, United Parcel Service, Inc. (UPS), a US-based logistics and package delivery company specializing in integrated supply-chain solutions, acquired Frigo-Trans GmbH and its sister company Biotech and Pharma Logistics for an undisclosed amount. Through this acquisition, UPS aims to expand and strengthen its healthcare cold-chain logistics capabilities across Europe by integrating Frigo-Trans’s temperature-controlled warehousing and refrigerated transport network with BPL’s expertise in time-critical, temperature-sensitive freight forwarding. Frigo-Trans GmbH is a Germany-based healthcare cold-chain logistics provider, while Biotech and Pharma Logistics is a Germany-based company specializing in the compliant transportation of temperature-sensitive healthcare products.

Major companies operating in the refrigerated transport market report include Carrier Transicold, Thermo King Corporation, Daikin Industries Ltd., Trane Technologies plc, Mitsubishi Heavy Industries Ltd., GAH Refrigeration Ltd., Great Dane LLC, Wabash National Corporation, Ingersoll Rand Inc., Schmitz Cargobull AG, Lamberet SAS, Hwasung Thermo Co. Ltd., China International Marine Containers (Group) Ltd., Hyundai Translead, Singamas Container Holdings Ltd., Utility Trailer Manufacturing Company, Klinge Corporation, Kingtec Group Company Ltd., Morgan Corporation, DENSO Corporation, Daikin Reefer, Frigoblock GmbH, Carrier Corporation, Polar Leasing Inc., Sanden Holdings Corporation, Zanotti S.p.A, Hubbard Products Ltd., MHI Thermal Systems.

Europe was the largest region in the refrigerated transport market in 2025. Asia-Pacific is expected to be the fastest-growing region in the refrigerated transport market report forecast period. The regions covered in the refrigerated transport market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the refrigerated transport market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The refrigerated transport market includes revenues earned by providing transportation services such as insulation vans, chiller conversion vans, semi-freezer vans, and full-freezer vans. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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