The global market for Road Transport Refrigeration Equipment was valued 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.
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.
The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
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.Report Scope
The report analyzes the Road Transport Refrigeration Equipment market, presented in terms of units. The analysis covers the key segments and geographic regions outlined below.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
Tariff Impact Analysis: Key Insights for 2025
Global tariff negotiations across 180+ countries are reshaping supply chains, costs, and competitiveness. This report reflects the latest developments as of April 2025 and incorporates forward-looking insights into the market outlook.The analysts continuously track trade developments worldwide, drawing insights from leading global economists and over 200 industry and policy institutions, including think tanks, trade organizations, and national economic advisory bodies. This intelligence is integrated into forecasting models to provide timely, data-driven analysis of emerging risks and opportunities.
What’s Included in This Edition:
- Tariff-adjusted market forecasts by region and segment
- Analysis of cost and supply chain implications by sourcing and trade exposure
- Strategic insights into geographic shifts
Buyers receive a free July 2025 update with:
- Finalized tariff impacts and new trade agreement effects
- Updated projections reflecting global sourcing and cost shifts
- Expanded country-specific coverage across the industry
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 | May 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 |
