Refrigerated Goods Trucking Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends

What Is the Forecasted Market Size and Growth Rate for the Refrigerated Goods Trucking Market?
The market size for refrigerated goods trucking has witnessed swift expansion in the past few years. It is predicted to rise from $68.58 billion in 2024 to $75.55 billion in 2025, with a compound annual growth rate (CAGR) of 10.2%. Reasons for the growth during the past period include rising requirements for perishable foods, robust economic advancement in up-and-coming markets, decreased oil prices, and taxation.

In the coming years, the refrigerated goods trucking market is expected to experience swift expansion. The market will ascend to $110.77 billion by 2029 at a compound annual growth rate (CAGR) of 10.0%. The forecast period's growth is due to an increase in food exports, technological advancements, the burgeoning organic food market, fast-paced urbanization, and escalating demand from the healthcare sector. The significant trends shaping this forecast period include the adoption of connected trucking, investments in technological breakthroughs, use of sophisticated robots for handling shipments, introducing collision mitigation systems for secure journeys, a demand pricing strategy to exploit assets and manage capacities more efficiently, and the integration of big data and artificial intelligence.

What Factors Are Propelling the Expansion of the Refrigerated Goods Trucking Market?
The refrigerated goods trucking market is anticipated to grow due to the escalating demand for perishable foods like ready-to-eat meals, dairy products, and fruits and vegetables. The rising popularity of frozen foods is prompting suppliers to invest in multi-temperature systems, computer controls, and thermal liners for their refrigerated units to maintain essential food temperatures. For example, in April 2024, data from the National Association of Convenience Stores (NACS), a trade association based in the US, showed that 26.9% of in-store sales in 2023 came from food service, an increase from 25.6% in 2022. They also noted a 12.2% growth in prepared food sales per store each month, making it the top in-store category. This growing demand for refrigerated food products is predicted to boost the refrigerated goods trucking market's growth in the future.

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Which Businesses Are at the Forefront of Refrigerated Goods Trucking Market Development?
Major companies operating in the refrigerated goods trucking market include Prime Inc., Stevens Transport, Knight-Swift Transportation Holdings Inc., C.R. England, Marten Transport Ltd., China International Marine Containers, Great Dane, Schmitz Cargobull AG, Shaffer Trucking, KLLM Transport Services, Deutsche Post DHL, Nippon Express, Yamato Transport Co. Ltd (Japan), Yusen Logistics & TASCO, Sinchai Cold Storage, Tiong Nam Logistics, Jentec Storage Inc, Kogel Trailer GmbH & Co, SNCF Deodis, GERCO S.A, STEF, HSF Logistics, Algarverpania Refrigeration, Krone, Gibon Logistics, CEE Logistics, GEFCO, Kuehne-Nagel, Hyundai Translead Inc., Wabash National, JSL S. A, Transportes Bertolini Ltda, Braspress Logistics, DHL Global Forwarding, CEVA logistics, ATS Dubai, Mashaweer, ADSO, HST Logistics LLC, Carrier Global Corporation, Daikin Industries, Ltd., Denso Corporation, Klinge Corporation, Mitsubishi Heavy Industries, Ltd., Subros Limited, Songz Automobile Air Conditioning Co., Ltd., Thermo King (Trane Technologies), Webasto Thermo & Comfort

What Are the Latest Innovations in the Refrigerated Goods Trucking Market?
In the current market, major corporations are continually injecting investments into new solutions, such as cloud computing or IoT solutions, which allow real-time tracking to increase accountability, visibility, and effectiveness in refrigerated transport and storage. This ability to monitor the real-time movement and location of people, vehicles, or assets using GPS or other tracking technologies is what characterizes real-time tracking. To illustrate, GreenPower Motor Company, a manufacturer of medium and heavy-duty electric vehicles based in Canada, introduced the EV Star ReeferX in June 2024. This all-electric medium-duty delivery truck, built on the EV Star Cab and Chassis platform, boasts a lighter body for more payload capacity and designed to be fully customizable. It is aimed at mid- to last-mile refrigerated delivery needs, targeting industries such as fresh and frozen foods, flowers, and pharmaceuticals.

How Is the Refrigerated Goods Trucking Market Segmented?
The refrigerated goods trucking market covered in this report is segmented -

1) By Vehicle Type: Light Commercial Vehicle, Medium Heavy Commercial Vehicles, Heavy Commercial Vehicles
2) By Temperature: Single Temperature, Multi-Temperature
3) By Application: Food Products, Poultry, Meat, and Seafood, Dairy and Beverages, Bakery And Confectionery, Pharmaceutical, Other Applications

Subsegments:
1) By Light Commercial Vehicle: Refrigerated Vans, Small Refrigerated Trucks
2) By Medium Heavy Commercial Vehicles: Medium Refrigerated Trucks, Box Trucks With Refrigeration Units
3) By Heavy Commercial Vehicles: Heavy-Duty Refrigerated Trailers, Refrigerated Container Trucks

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Where Is the Refrigerated Goods Trucking Market Growth Most Prominent?
The countries covered in the refrigerated goods trucking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain

What Is Covered In The Refrigerated Goods Trucking Global Market Report?

- Market Size Analysis: Analyze the Refrigerated Goods Trucking Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Refrigerated Goods Trucking 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 Goods Trucking Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Refrigerated Goods Trucking Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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