The global refrigerated transport market was valued at USD 123.59 billion in 2023 and is projected to reach USD 216.07 billion by 2030, expanding at a compound annual growth rate (CAGR) of 8.6% from 2024 to 2030. This growth is primarily driven by the increasing demand for perishable goods and advancements in refrigeration technologies. The rising global population, coupled with changing dietary preferences, has led to a surge in the consumption of perishable items such as fresh produce, dairy products, meat, and seafood, thereby propelling the need for efficient refrigerated transportation solutions.
Key Market Trends & Insights
Several trends are shaping the refrigerated transport market:
- Regional Dominance: North America led the market in 2023, accounting for 34.1% of the global market share. Within North America, the United States held a significant portion, contributing to 79.0% of the regional market share.
- Technological Advancements: The air-blown refrigeration technology segment dominated the market in 2023, holding a 40.2% share. This technology is favored for its efficiency and effectiveness in maintaining desired temperatures during transit.
- Mode of Transport: Road transportation emerged as the leading mode of transport in the refrigerated segment in 2023, attributed to its flexibility and extensive infrastructure.
- Temperature Range: The frozen segment led the market in 2023 and is anticipated to witness the fastest growth over the forecast period, driven by the increasing demand for frozen foods and beverages.
Market Size & Forecast
- 2023 Market Size: USD 123.59 billion
- 2030 Projected Market Size: USD 216.07 billion
- CAGR (2024–2030): 8.6%
- Regional Insights: North America was the largest market in 2023, while Asia Pacific is expected to be the fastest-growing market during the forecast period.
Order a free sample PDF of the Refrigerated Transport Market Intelligence Study, published by Grand View Research.
The growth of the refrigerated transport market is closely linked to the increasing global trade in perishable goods and the expansion of cold chain logistics. Advancements in refrigeration technologies, such as energy-efficient systems and real-time temperature monitoring, are enhancing the reliability and efficiency of refrigerated transportation.
Key Companies & Market Share Insights
The refrigerated transport market is characterized by the presence of several key players offering a range of services and technologies:
- Carrier Transicold: A leading provider of refrigeration units for trailers and containers.
- GAH Refrigeration: Known for its innovative refrigeration solutions for various transport applications.
- Great Dane Trailers: Manufactures refrigerated trailers and provides related services.
- Kuehne + Nagel: A global logistics company offering temperature-controlled transportation services.
- H. Robinson: Provides refrigerated freight services and supply chain solutions.
- R. England: Specializes in temperature-sensitive freight transportation.
- B. Hunt: Offers refrigerated transportation services as part of its logistics solutions.
- Schneider National: Provides temperature-controlled transportation and logistics services.
- Nestlé: A major player in the food industry with a significant presence in refrigerated transport for its products.
- Conagra Brands: Operates a vast network for the distribution of frozen and refrigerated food products.
- These companies are focusing on expanding their fleets, adopting advanced refrigeration technologies, and enhancing their service offerings to cater to the growing demand for refrigerated transportation.
Conclusion
The refrigerated transport market is poised for significant growth, driven by the increasing demand for perishable goods and advancements in refrigeration technologies. Companies operating in this sector are investing in innovative solutions to meet the evolving needs of consumers and businesses alike. As the market continues to expand, stakeholders must focus on efficiency, sustainability, and technological advancements to maintain a competitive edge and ensure the safe and timely delivery of temperature-sensitive products.
Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.