India Refrigerated Truck Market, By Region, Competition, Forecast & Opportunities, 2021-2031F

The India Refrigerated Truck Market was valued at USD 635.7 Million in 2025, and is expected to reach USD 738.1 Million by 2031, rising at a CAGR of 7.55%. Growth in this market is primarily driven by rising consumption of perishable goods such as dairy, fruits, vegetables, pharmaceuticals, and frozen foods. With changing dietary preferences and the growing popularity of fresh and organic products, refrigerated trucks are playing a critical role in ensuring the safe and timely delivery of temperature-sensitive items.

Expanding sectors such as food and beverage, pharmaceuticals, and e-commerce logistics are further propelling market demand. Government-led infrastructure investments under programs like the National Infrastructure Pipeline (NIP) - which earmarks USD 1.3 trillion for logistics and road development - are strengthening cold chain capabilities across the country. As urbanization continues and consumer expectations rise, refrigerated trucks have become an integral part of India’s evolving logistics and supply chain landscape.

Key Market Drivers

Government Initiatives for Cold Chain Infrastructure

The Indian government is actively promoting the development of cold chain logistics through various policy measures and financial incentives. Programs such as the Scheme for Integrated Cold Chain and Value Addition Infrastructure, administered by the Ministry of Food Processing Industries (MoFPI), provide grants for setting up farm-level storage, processing centers, and refrigerated transportation.

As of February 2024, 372 projects have been sanctioned under this scheme, significantly enhancing cold storage and trucking capacity across the country. Subsidies and tax benefits are being offered to businesses investing in refrigerated vehicles, lowering entry barriers and encouraging private sector participation. These initiatives are aimed at minimizing food wastage, improving product shelf life, and supporting the agricultural and pharmaceutical sectors. By focusing on integrated cold chain development, the government is creating a favorable ecosystem for refrigerated truck adoption and enabling more efficient logistics networks across India.

Key Market Challenges

Inconsistent Cold Chain Infrastructure

Despite progress in infrastructure, inconsistencies in cold chain coverage remain a critical issue, particularly in rural and remote regions. Limited access to quality cold storage facilities and inadequate road connectivity can disrupt the efficient movement of perishable items. These logistical gaps often result in spoilage, reduced product quality, and financial losses for producers and retailers. Maintaining precise temperature control during long-distance or multi-stop deliveries becomes difficult when infrastructure is lacking or fragmented. This challenge is compounded for businesses operating in tier-3 towns and rural areas where cold chain logistics are still underdeveloped. Bridging this infrastructure gap will require continued investment, coordination between public and private stakeholders, and the deployment of scalable and region-specific cold chain solutions.

Key Market Trends

Growth of Cold Chain Solutions for Pharmaceuticals

An emerging trend in the India Refrigerated Truck Market is the increasing use of cold chain logistics in the pharmaceutical sector. As India solidifies its position as a global pharmaceutical manufacturing hub, the demand for temperature-controlled transportation for vaccines, biologics, and high-value medications is rising. The COVID-19 pandemic highlighted the critical importance of preserving drug efficacy during storage and transport, accelerating investment in specialized refrigerated vehicles. Pharmaceutical companies are adopting compliant, GPS-enabled trucks equipped with real-time temperature monitoring and data logging systems. This trend is expected to continue as the industry focuses on maintaining product integrity, adhering to stringent regulatory standards, and expanding global and domestic pharmaceutical supply chains.

Key Market Players

• Mahindra & Mahindra Limited
• Tata Motors Limited
• Ashok Leyland Limited
• Volvo Group India Private Limited
• Eicher Motors Limited
• Daimler India Commercial Vehicles Pvt. Ltd.
• SML Isuzu Limited
• Scania Commercial Vehicles India Pvt. Ltd.
• Isuzu Motors India Private Limited
• Force Motors Limited

Report Scope:

In this report, the India Refrigerated Truck Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

India Refrigerated Truck Market, By Truck Type:

• Light
• Medium
• Heavy

India Refrigerated Truck Market, By Temperature Compartment:

• Single
• Multiple

India Refrigerated Truck Market, By Application:

• Food and Beverage
• Pharmaceutical
• Chemical
• Others

India Refrigerated Truck Market, By Region:

• North
• West
• South
• East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Refrigerated Truck Market.

Available Customizations:

With the given market data, the publisher offers customizations according to the company’s specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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