Refrigerated Transport Market Growth Analysis Report - Market Size, Share, Forecast Trends and Outlook (2025-2034)

The global refrigerated transport market attained a value of USD 18.03 Billion in 2024 and is expected to register a CAGR of 5.50% during the forecast period of 2025-2034 to reach USD 30.80 Billion by 2034. The rising demand for perishable food, pharmaceuticals, and temperature-sensitive goods across long distances is driving the market growth.

Key Insights and Trends

• The Asia-Pacific refrigerated transport market is expected to grow at a CAGR of 6.8% over the forecast period.
• By country, India is projected to grow at a CAGR of 11.1% over the forecast period.
• By temperature, the multi temperature category is expected to register a CAGR of 6.1% over the forecast period.
• By application, the frozen food products category is projected to grow at a CAGR of 6.2% over the forecast period.

Market Size & Forecast

• Market Size in 2024: USD 18.03 Billion
• Projected Market Size in 2034: USD 30.80 Billion
• CAGR from 2025 to 2034: 5.50%
• Dominant Regional Market: Asia-Pacific

On the basis of the mode of transportation, the refrigerated road transport segment dominated the refrigerated transport market in 2020. Based on the technology, the vapour compression systems accounted for the largest market in 2020, as it represents the most standard technology used in refrigerated transport. Based on temperature, the single temperature segment held the majority of the total industry share across the globe. On the basis of the application segment, the chilled food product segment was estimated to hold the largest segment in 2020. Moreover, the frozen food product segment is expected to be the fastest-growing segment over the forecast period of 2025-2034. Geographically, the Asia-Pacific accounted for the largest market in 2020.

Market Segmentation

Refrigerated transport is a temperature-controlled means of transportation, such as refrigerated trucks and shipping containers. These vehicles are equipped with an in-built cooling system that maintains the required temperature throughout the transportation process. It is used for shipping perishable products, including vegetables and fruits, dairy, freshly cut flowers, meat, seafood, and pharmaceutical products.

On the basis of the mode of transportation, the global refrigerated transport market is segmented into:

• Refrigerated Road Transport
• Refrigerated Sea Transport
• Refrigerated Rail Transport
• Refrigerated Air Transport

The industry can be broadly categorised on the basis of the technology segment into:

• Vapour Compression Systems
• Air-Blown Evaporators
• Eutectic Devices
• Cryogenic Systems

Based on the temperature, the industry is segmented into:

• Single-Temperature
• Multi-Temperature

On the basis of application, the global refrigerated transport market is segregated into:

• 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
• Others

Based on the region, the industry is segmented into:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Market Analysis

The growing food and beverage industry represents one of the key factors driving the growth of the industry. Furthermore, owing to the increasing health-consciousness among consumers, the demand for frozen variants of various fresh products has increased, which in turn expected to foster the industry growth. Also, the increasing demand for perishable goods is anticipated to boost the refrigerated transport market, since it aids in extending the shelf-life of these products and ensure year-round availability of seasonal goods. Since the food products require controlled temperatures while transportation for the storage and prevention of spoilage, refrigerated transport is becoming integral to the distribution process.

Competitive Landscape

The report presents a detailed analysis of the following key players in the global refrigerated transport market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• C.H. Robinson Worldwide, Inc
• Carrier
• Daikin Europe N.V
• DB Schenker
• Trane Technologies
• Others

The comprehensive report looks into the macro and micro aspects of the industry. The report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.