United Technologies Corporation(Carrier Corporation)
Utility Trailer Manufacturing Company
Wabash National Corporation
Vehicle Works Bernard Krone Gmbh & Co. KG.
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Refrigerated Transport Market is estimated to be valued at USD 139.86 Bn in 2025 and is expected to reach USD 230.53 Bn by 2032, growing at a compound annual growth rate (CAGR) of 7.4% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 139.86 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
7.40%
2032 Value Projection:
USD 230.53 Bn
Temperature-controlled and conditioned freight shipment of perishable food items, such as confectionery, fruits and vegetables, dairy products, seafood, fish, and meat, is known as refrigerated transport.". The food is kept in the temperature-controlled system for a longer period of time thanks to clever design. The demand for frozen food (raw materials) is anticipated to grow, which is further anticipated to fuel the growth of the global refrigerated transport market over the next few years due to the rising number of small and large food chains around the world, along with growing HoReCa sectors, particularly in developing economies.
Market Dynamics
The market for refrigerated transportation has a variety of market dynamics, with increased demand for frozen and perishable goods and significant growth in the food and beverage sector as its main drivers. One market opportunity is the use of intermodal transportation to reduce fuel costs. Additionally, there are upcoming market trends like the rise in demand for pharmaceutical drug delivery as well as some market restraints like the impact of climate change on transportation infrastructure and high capital investment and energy costs.
Key features of the study
This report provides in-depth analysis of the Global Refrigerated Transport Market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period 2025-2032, considering 2024 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global Refrigerated Transport Market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include China International Marine Containers (Group) Ltd., Daikin Industries, Ltd., Great Dane Trailers, Inc., HYUNDAI Translead, Ingersoll-Rand PLC (Thermo King), Lamberet SAS, Mitsubishi Heavy Industries, Ltd., Schmitz Cargobull AG, Singamas Container Holdings Limited, United Technologies Corporation (Carrier Corporation), Utility Trailer Manufacturing Company, Wabash National Corporation, and Vehicle Works Bernard Krone Gmbh & Co. KG.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The Global Refrigerated Transport Market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Global Refrigerated Transport Market.
Market Segmentation
Global Refrigerated Transport Market, By Transport Type
Refrigerated Road Transport
Refrigerated Light Commercial Vehicles (LCV)
Refrigerated Medium & Heavy Commercial Vehicles (MHCV)
Refrigerated Heavy Commercial Vehicles (HCV)
Refrigerated Sea Transport
Refrigerated Rail Transport
Refrigerated Air Transport
Global Refrigerated Transport Market, By Technology
Vapor Compression Systems
Air Blown Evaporators
Eutectic Devices
Global Refrigerated Transport Market, By Temperature
Single Temperature
Multi-temperature
Global Refrigerated Transport Market, By Application
Chilled Food Products
Milk, Bakery & Confectionery Products
Dairy Products
Beverages
Fresh Fruits & Vegetables
Frozen Food Products
Ice Cream
Frozen Dairy Products
Processed Meat
Fish & Sea Food
Bakery Products
Global Refrigerated Transport Market, By Geography
North America
U.S.
Canada
Latin America
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
GCC Countries
Israel
Rest of Middle East
Africa
South Africa
North Africa
Central Africa
Key Companies Insights
China International Marine Containers (Group) Ltd.
Daikin Industries, Ltd.
Great Dane Trailers, Inc.
HYUNDAI Translead
Ingersoll-Rand PLC (Thermo King)
Lamberet SAS
Mitsubishi Heavy Industries, Ltd.
Schmitz Cargobull AG
Singamas Container Holdings Limited
United Technologies Corporation (Carrier Corporation)
Utility Trailer Manufacturing Company
Wabash National Corporation
Vehicle Works Bernard Krone Gmbh & Co. KG.
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Snapshot Market, By Transport Type
Snapshot Market, By Technology
Snapshot Market, By Temperature
Snapshot Market, By Application
Snapshot Market, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Greater Demand for Frozen & Perishable Goods.
Significant growth in the food and beverage industry
Restraints
Transportation Infrastructure Is Being Impacted By Climate Change.
High Capital Investment & Energy Costs.
Opportunities
Utilization of Intermodal Transport to Save Fuel Cost.
Impact Analysis
Key Highlights
Regulatory Scenario
Product launch/Approvals
PEST Analysis
PORTER's Analysis
Merger and Acquisition Scenario
4. Global Refrigerated Transport Market, By Transport Type, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Refrigerated Road Transport
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Refrigerated Light Commercial Vehicles (LCV)
Refrigerated Medium & Heavy Commercial Vehicles (MHCV)
Refrigerated Heavy Commercial Vehicles (HCV)
Refrigerated Sea Transport
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Refrigerated Rail Transport
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Refrigerated Air Transport
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
5. Global Refrigerated Transport Market, By Technology, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Vapor Compression Systems
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Air Blown Evaporators
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Eutectic Devices
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
6. Global Refrigerated Transport Market, By Temperature, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Single Temperature
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Multi-temperature
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
7. Global Refrigerated Transport Market, By Application, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Chilled Food Products
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Milk, Bakery & Confectionery Products
Dairy Products
Beverages
Fresh Fruits & Vegetables
Frozen Food Products
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Ice Cream
Frozen Dairy Products
Processed Meat
Fish & Sea Food
Bakery Products
8. Global Refrigerated Transport Market, By Region, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, By Country, 2025 and 2032 (%)
Y-o-Y Growth Analysis, For Country 2021-2032
Country Trends
North America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Transport Type, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Technology, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Temperature, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032, (USD Bn)
Europe
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Transport Type, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Technology, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Temperature, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032, (USD Bn)
Asia Pacific
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Transport Type, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Technology, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Temperature, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032, (USD Bn)
Latin America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Transport Type, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Technology, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Temperature, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032, (USD Bn)
Middle East & Africa
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Transport Type, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Technology, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Temperature, 2020-2032, (USD Bn)
Market Size and Forecast, and Y-o-Y Growth, By Application, 2020-2032, (USD Bn)
9. Competitive Landscape
China International Marine Containers (Group) Ltd.
Product Portfolio
Key Developments
Financial Performance
Strategies
Daikin Industries, Ltd.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Great Dane Trailers, Inc.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
HYUNDAI Translead,
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Ingersoll-Rand PLC (Thermo King)
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Lamberet SAS
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Mitsubishi Heavy Industries, Ltd.
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Schmitz Cargobull AG,
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
Singamas Container Holdings Limited,
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
United Technologies Corporation (Carrier Corporation)