Refrigerated Transport Market To Reach $216.07 Billion By 2030

Refrigerated Transport Market Growth & Trends

The global refrigerated transport market size is anticipated to reach USD 216.07 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 8.6% from 2024 to 2030. Stringent regulations and standards regulating the transportation of perishable goods influence the refrigerated transport market. Regulatory bodies mandate strict adherence to temperature control and monitoring measures to ensure the safety and quality of transported goods. Companies operating in this market must invest in advanced refrigerated transport technologies that can maintain precise temperature conditions and provide real-time monitoring capabilities. Adherence to these regulations not only ensure compliance but also contribute to the overall reliability and efficiency of the distribution chain.

Additionally, the rise of the pharmaceutical and healthcare industries positively influences the specialized refrigerated transport industry. With a growing need of transportation for temperature-sensitive medications, vaccines, and biotechnological products, the pharmaceutical sector heavily relies on refrigerated transport industry to maintain the efficacy and safety of these products. As advancements in healthcare sector continue, the demand for specialized refrigerated logistics is expected to grow further while fueling the growth of the refrigerated transport market.

Moreover, overwhelming response to e-commerce is driving the refrigerated transport market. The increasing prevalence of online grocery shopping and the demand for quick and reliable delivery of perishable goods has accelerated the need for efficient refrigerated transport services. With consumers ordering fresh produce, frozen foods, and temperature-sensitive items online, businesses are inclined to invest in refrigerated logistics to fulfill these e-commerce orders, contributing to the expansion of the refrigerated transport market.

Furthermore, the growing trend towards globalization and international trade is promoting the growth of the market. With the expansion of the global economy, businesses are looking to expand their reach to new markets, which often involves the transportation of temperature-sensitive products across borders. The growth of international trade has increased the demand for refrigerated transport services, which is expected to continue in the coming years.

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Refrigerated Transport Market Report Highlights

• Based on technology, the air-blown segment accounted for the highest revenue share of 40.22% in 2023 and is expected to retain its position over the forecast period. This can be attributed to the rising need for precise temperature control. The fully electrified segment is expected to witness the fastest growth, led by the emerging demand for sustainable refrigeration solutions.

• Based on mode of transport, the road segment dominated the market with in 2023 and is expected to grow at a significant CAGR over the forecast period. This can be attributed to the emergence of small and medium-sized enterprises.

• Based on temperature range, the frozen segment is expected dominate the market and witness the fastest CAGR owing to the increasing demand for ready-to-cook frozen food products.

• Key companies of the market include B. Hunt Transport Services, Inc., Schneider National, Inc., Knight-Swift Transportation Holdings Inc., C.H. Robinson Worldwide, Inc. and Kuehne + Nagel.

• In September 2022, Celcius Logistics, India's fastest-growing cold chain, launched a smart last-mile delivery platform to address challenges in the country's fragile cold supply chains. The platform integrates with a network of reefer vehicles through a unique Inventory Management System (IMS) in collaboration with vehicle owners and automotive manufacturers. The company has secured contracts from major clients like Zepto, Maersk, Jubilant FoodWorks, and others, and also manages distribution for Zomato, Rebel Foods, and various Cloud kitchens and local businesses, providing instant access to inventory through Celcius's delivery platform.

Refrigerated Transport Market Segmentation

Grand View Research has segmented the global refrigerated transport market based on technology, mode of transport, temperature range, and application:

Refrigerated Transport Technology Outlook (Revenue, USD Million, 2017 - 2030)

• Air-blown Evaporators

• Eutectic

• Hybrid

• Fully Electrified

Refrigerated Transport Deployment Outlook (Revenue, USD Million, 2017 - 2030)

• Road

• Air

• Sea

• Railway

Refrigerated Transport Temperature Outlook (Revenue, USD Million, 2017 - 2030)

• Chilled

• Frozen

• Deep Frozen

Refrigerated Transport Application Outlook (Revenue, USD Million, 2017 - 2030)

• Food & Beverages

• Fruits & Vegetables

• Fruit Pulp & Concentrates

• Dairy Products

• Milk

• Butter

• Cheese

• Ice Cream

• Others

• Fish, Meat, and Seafood

• Processed Food

• Bakery & Confectionary

• Others

• Pharmaceuticals

• Vaccines                                                                                

• Blood Banking

• Others

• Others

Refrigerated Transport Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • Italy

  • France

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

List of Key Players in the Refrigerated Transport Market

• C. R. England Inc.

• J. B. Hunt Transport Services, Inc.

• Schneider National, Inc.

• Knight-Swift Transportation Holdings Inc.

• C.H. Robinson Worldwide, Inc.

• Kuehne + Nagel

• Daikin Industries, Ltd.

• Wabash National Corporation

• Great Dane LLC

• Fenagy

• SolarFreeze