Refrigerated Truck Rental Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F

The Refrigerated Truck Rental Market was valued at USD 124.78 Billion in 2024, and is expected to reach USD 203.57 Billion by 2030, rising at a CAGR of 8.50%. The Global Refrigerated Truck Rental market is witnessing steady growth driven by the rising demand for temperature-controlled transportation solutions across food, pharmaceuticals, and perishable goods industries. Growth is fueled by the increasing consumption of fresh and frozen foods, expansion of e-commerce platforms requiring cold chain logistics, and rising awareness of food safety standards, which push businesses to adopt reliable refrigerated transport. Technological advancements in truck design, including improved insulation, fuel efficiency, and real-time temperature monitoring, enhance operational efficiency and customer confidence.

Market Drivers

Increasing Demand for Cold Chain Logistics

The growing need for cold chain logistics is a key driver of the refrigerated truck rental market. Industries such as food and beverages, pharmaceuticals, and biotechnology rely heavily on temperature-controlled transport to maintain the quality and safety of their products. The expansion of grocery delivery services, online food ordering platforms, and e-commerce for fresh and frozen goods has amplified the requirement for reliable refrigerated transportation.

Businesses are increasingly opting for rented refrigerated trucks to manage peak demand, seasonal fluctuations, and last-mile delivery challenges without investing heavily in fleet ownership. For instance, around 70% of food industry product costs are tied to logistics, while roughly 80% of pharmaceuticals require temperature-controlled transport. Cold chain pharmaceutical sales, including insulin, are increasing at 7.1% annually, with biologics, vaccines, and personalized medicines fueling growth. Shifts in consumer habits toward online grocery, fresh produce, and organic food, alongside stricter safety regulations, further accelerate demand.

Key Market Challenges

High Operational and Maintenance Costs

High operational and maintenance costs pose a major challenge for the refrigerated truck rental market. Refrigerated vehicles require specialized components, including refrigeration units, insulated cargo compartments, and temperature-monitoring systems, which increase maintenance complexity and expense. Regular servicing and repair of refrigeration systems are necessary to prevent equipment failure and product spoilage, adding to operational costs for rental providers. Fuel consumption is also higher than standard trucks due to the energy required for refrigeration, impacting profitability and pricing models. Companies renting vehicles must factor in higher operating costs, which can limit adoption among small and medium enterprises. Maintaining a well-functioning fleet requires continuous investment in maintenance infrastructure, skilled technicians, and replacement parts.

Key Market Trends

Integration of IoT and Telematics

The adoption of IoT and telematics solutions in refrigerated truck rentals is transforming fleet management and operational efficiency. Sensors and real-time monitoring systems track temperature, humidity, vehicle location, and engine performance, enabling proactive interventions to prevent spoilage and mechanical failure. Fleet operators can optimize delivery routes, monitor driver behavior, and reduce fuel consumption, improving both cost efficiency and sustainability. Predictive maintenance features powered by data analytics allow providers to schedule servicing before breakdowns occur, reducing downtime and enhancing reliability. Integration of telematics also ensures compliance with regulatory standards, as detailed logs of temperature and transport conditions can be maintained for audits and certifications. This technology-driven approach improves transparency and customer confidence while enabling scalable and flexible rental operations.

Key Market Players

• ALLROUND Car Rental
• Enterprise Holdings, Inc.
• Fraikin
• Penske Corporation, Inc.
• Petit Forestier
• The Hertz Corporation
• Ryder System, Inc.
• Auto Wichert GmbH
• FedEx
• Polar Leasing, Inc.

Report Scope:

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

Refrigerated Truck Rental Market, By Truck Type:

• Light (Upto 7.5t)
• Medium (7.5t to 14t)
• Heavy (More than 14t)

Refrigerated Truck Rental Market, By Rental Type:

• Short Term
• Long Term

Refrigerated Truck Rental Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe & CIS
• Germany
• France
• U.K.
• Spain
• Italy
• Asia-Pacific
• China
• Japan
• India
• Vietnam
• South Korea
• Australia
• Thailand
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Turkey
• South America
• Brazil
• Argentina
• Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global Refrigerated Truck Rental 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).