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Strong Growth Ahead: Refrigerated Goods Trucking Market Size To Grow At Arecord 10% Cagr By 2029
Refrigerated Goods Trucking Market
What Is the Expected Refrigerated Goods Trucking Market Size During the Forecast Period?
The refrigerated goods trucking market has grown rapidly, projected to increase from $68.58 billion in 2024 to $75.55 billion in 2025 at a CAGR of 10.2%. This growth is driven by rising demand for perishable foods, strong economic growth in emerging markets, and lower oil prices and taxes.
The refrigerated goods trucking market is anticipated to see rapid growth, projected to reach $110.77 billion by 2029 at a CAGR of 10.0%. The growth will be attributed to food export expansion, technological advances, the rise in organic food, urbanization, and growing demand from the healthcare industry. Key trends include connected trucking, technological innovations, automation for loading/unloading, collision mitigation, demand-based pricing, and AI integration.
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What Are the High-Growth Segments in the Refrigerated Goods Trucking Market?
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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What Key Drivers Are Expected to Influence Future Refrigerated Goods Trucking Market Growth?
The refrigerated goods trucking market is set to grow due to the increasing demand for perishable foods, including ready-to-eat meals, dairy products, and fresh produce. To meet the demand for frozen and perishable goods, suppliers are enhancing their refrigerated units with multi-temperature systems. According to the National Association of Convenience Stores in April 2024, foodservice sales accounted for 26.9% of in-store sales, with prepared food sales rising by 12.2% per store. This growing demand for perishable foods is expected to drive the refrigerated goods trucking market.
Which Companies Hold the Largest Share Across Different Refrigerated Goods Trucking Market Segments?
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 Refrigerated Goods Trucking Market Trends Are Gaining Traction Across Different Segments?
Companies in the refrigerated storage and transport sector are investing in real-time tracking solutions like cloud computing and IoT technologies to improve visibility and performance. Real-time tracking allows for monitoring assets or vehicles through GPS and other technologies. For example, in June 2024, GreenPower Motor Company introduced the EV Star ReeferX, an all-electric refrigerated delivery truck designed for industries like fresh foods and pharmaceuticals. The truck is customizable and aims to optimize mid- to last-mile refrigerated deliveries.
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What Are the Emerging Geographies for The Refrigerated Goods Trucking Market Growth?
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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Refrigerated Goods Trucking Market?
2. What is the CAGR expected in the Refrigerated Goods Trucking Market?
3. What Are the Key Innovations Transforming the Refrigerated Goods Trucking Industry?
4. Which Region Is Leading the Refrigerated Goods Trucking Market?
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