Press release
Rising Demand For Seafood Fuels Growth In The Refrigerated Trailer Market Driver: A Major Catalyst in the Evolution of the Refrigerated Trailer Market in 2025
Refrigerated Trailer
The increasing demand for seafood is expected to drive the growth of the refrigerated trailer market. The rising demand for seafood is driven by convenience, longer shelf life, and changing consumer perceptions. Refrigerated trailers are vital for maintaining the freshness and safety of seafood from harvest to delivery. For instance, in July 2024, the Food and Agriculture Organization (FAO) reported that global fisheries and aquaculture production reached 223.2 million tons in 2022, driving the demand for refrigerated trailers.
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What Is the projected market size and growth rate for the refrigerated trailer market?
The refrigerated trailer market has experienced significant growth in recent years. It is expected to grow from $6.52 billion in 2024 to $7 billion in 2025 at a CAGR of 7.5%. This is due to high demand for packaged and frozen seafood and meat, changes in eating patterns, a need for refrigerated trailers for transporting medicines, and increased demand for frozen seafood and meat.
The refrigerated trailer market is expected to grow steadily, reaching $9.2 billion by 2029 with a CAGR of 7.1%. This growth is driven by increased tourism, the rise of online grocery shopping, the growing consumption of frozen food, and heightened awareness of food wastage. Key trends include investments in cold chain technologies, advancements in freezing technologies, adoption of fuel-efficient practices, and eco-friendly refrigeration systems.
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What new trends are reshaping the refrigerated trailer market and its opportunities?
Companies in the refrigerated trailer market are focusing on electric refrigerated trailers to enhance energy efficiency, reduce carbon emissions, and offer sustainable solutions for transporting temperature-sensitive goods. Electric refrigerated trailers use electric power to run the refrigeration unit instead of diesel engines. For instance, in February 2023, TIP Group, a Netherlands-based company, launched E-reefer and AxlePower, which use solar energy and battery power to operate refrigeration units. This approach increases energy efficiency by using renewable energy and harnessing energy lost during trailer operation.
What major market segments define the scope and growth 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.
Which key market leaders are driving the refrigerated trailer industry growth?
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
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What Is Covered In The Refrigerated Trailer Global Market Report?
•Market Size Forecast: Examine the refrigerated trailer market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the refrigerated trailer market for a structured understanding.
•Key Players Overview: Analyze major players in the refrigerated trailer market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the refrigerated trailer market.
•Segment Contributions: Evaluate how different segments drive overall growth in the refrigerated trailer market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the refrigerated trailer market.
•Industry Challenges: Identify potential risks and obstacles affecting the refrigerated trailer market.
•Competitive Landscape: Review strategic developments in the refrigerated trailer market, including expansions, agreements, and new product launches.
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