Press release
Innovative Refrigerated Trailers With Battery And Solar-Powered Transport Refrigeration Units Revolutionize Cold Chain Sustainability Trend: A Crucial Influence on the Refrigerated Trailer Market's Transformation in 2025
Refrigerated Trailer Market Segments
In the past few years, there has been a significant increase in the market size of refrigerated trailers. This market is projected to expand from $6.52 billion in 2024 to $7 billion in 2025, recording a compound annual growth rate (CAGR) of 7.5%. This steady growth observed in the historical period is linked to various factors: a high demand for both packaged and frozen meat and seafood, changes in lifestyle and dietary habits, a need for transportation of medicines through refrigerated trailers, and a surge in demand for frozen meat and seafood.
The market size of refrigerated trailers is projected to witness substantial growth in the upcoming years, expanding to $9.2 billion in 2029 with a compound annual growth rate (CAGR) of 7.1%. This prospective rise during the forecast period can be ascribed to factors such as burgeoning tourism, the advent of digital grocery shopping platforms, a rise in frozen food usage, a surge in the requirement for transporting perishable items, the increasing occurrence of nuclear family structures and fresh food preparation habits, as well as heightened awareness around food waste. Notable trends within this forecast timespan encompass advancements in cold chain technologies, forward-looking freezing techniques, application of fuel-effective operations in industrial freezing systems, as well as investments in the creation of environment-friendly refrigeration systems.
What Are the Forces Behind the Rapid Growth of the Refrigerated Trailer Market?
The surge in seafood consumption is predicted to catalyze the expansion of the refrigerated trailer market in the future. The term seafood entails a wide variety of consumer-friendly aquatic creatures such as fish, shellfish, and other marine species caught from oceans, rivers, and lakes, among others, for human consumption. The amplified demand for seafood is due to many reasons, including changes in lifestyle and convenience, extended shelf life, and evolving consumer perspectives. Refrigerated trailers ensure the freshness of seafood products from the point of capture to the final destination and enhance their shelf life, minimizing the tendency for waste and spoilage. For instance, The Food and Agriculture Organization (FAO), a US-based agency that spearheads global efforts to combat hunger, reported in the State of World Fisheries and Aquaculture (SOFIA) document in July 2024 that global fisheries and aquaculture production elevated to 223.2 million tons in 2022, marking a 4.4% increase as compared to 2020. Furthermore, global marine animal production is anticipated to rise by 10% by 2032, topping 205 million tons. Consequently, the strong demand for seafood for packaging and freezing meat and seafood has stimulated the growth of the refrigerated trailer market.
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Which Leading Companies Are Shaping the Growth of the Refrigerated Trailer Market?
Major companies operating in the refrigerated trailer market are Mitsubishi Heavy Industries Thermal Systems Ltd., Daikin Industries Ltd., Carrier Transicold, Ingersoll Rand, Wabash National Corporation, Schmitz Cargobull AG, Great Dane LLC, Thermo King Corporation, Randon SA Implementos e Participacoes, Manac Inc., Hyundai Translead Inc., Lamberet Refrigerated SAS, Gray & Adams Holdings Ltd., Fontaine Trailer Company, Vanguard National Trailer Corporation, Montracon Ltd., Zanotti S.p.A., Utility Trailer Manufacturing Company, Klinge Corporation, Fahrzeugwerk Bernard KRONE GmbH, Kögel GmbH, Dorsey Intermodal
What Are the Major Trends Shaping the Refrigerated Trailer Market?
Leading businesses in the refrigerated trailer market are concentrating on the creation of novel products such as electric refrigerated trailers in an effort to boost energy efficiency, curtail carbon emissions, and offer green solutions for the transport of temperature-sensitive goods. Electric refrigerated trailers, also known as e-refrigerated trailers, are reefer trailers that rely on electric power rather than conventional diesel engines for the operation of their refrigeration system. For instance, in February 2023, the Netherland-based TIP Group that provides refrigerated trailers, introduced the E-reefer and AxlePower systems which rely on battery and solar-powered transport refrigeration respectively. The E-reefer is engineered to harness the power of solar energy for its refrigeration unit. This ground-breaking trailer uses solar panels to produce electricity which can then provide a significant part of the energy needed for cooling. The AxlePower system recovers energy wasted during the operation of the trailer and transforms it into power that can be used by the refrigeration unit. This method amplifies energy efficiency by utilizing energy that would have otherwise been wasted, consequently aiding the TIP Group and its customers in achieving their sustainability targets.
What Are the Key Segments of the Refrigerated Trailer Market?
The refrigerated trailer market covered in this report is segmented -
1) By Type: Light Commercial Vehicle (LCV), Medium Commercial Vehicle (MCV), Heavy Commercial Vehicle (HCV)
2) By Tonnage Capacity: Less Than 10 Tons, 10 To 20 Tons, More Than 20 Tons
3) By Application: Food And Beverages, Pharmaceuticals, Chemicals, Other Applications
Subsegments:
1) By Light Commercial Vehicle (LCV): Small Refrigerated Vans, Pickup-Based Refrigerated Units
2) By Medium Commercial Vehicle (MCV): Medium-Sized Refrigerated Trucks, Box Trucks with Refrigeration
3) By Heavy Commercial Vehicle (HCV): Semi-Trailer Refrigerated Units, Full-Sized Refrigerated Trucks, Multi-Temperature Zone Trailers
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Which Region Dominates the Refrigerated Trailer Market?
North America was the largest region in the refrigerated trailer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the refrigerated trailer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Refrigerated Trailer Global Market Report?
- Market Size Analysis: Analyze the Refrigerated Trailer Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Refrigerated Trailer Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Refrigerated Trailer Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Refrigerated Trailer Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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