Refrigerated Transport Market to Expand Significantly, Reaching US$ 228.4 Bn by 2032 - Persistence Market Research

Market Overview

The refrigerated transport market is witnessing a surge in demand, driven by the global expansion of cold chains and the exponential rise in perishable goods trade. As of 2025, the market is valued at US$ 138.1 billion and is projected to reach US$ 228.4 billion by 2032, registering a CAGR of 7.5%. This growth marks a significant leap from its historical CAGR of 5.9% between 2019 and 2024, underlining the importance of temperature-controlled logistics in global commerce.

North America is forecasted to lead the global market, accounting for around 35.7% share in 2025, thanks to its well-established infrastructure, stringent food safety regulations, and high consumption of fresh produce. On the other hand, road transportation will emerge as the dominant mode, contributing 28.4% of market value in 2025 due to its flexibility and widespread use in short- to medium-haul cold chains.

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➤ Key Highlights from the Report

1. ➤ Refrigerated transport market to expand at 7.5% CAGR from 2025 to 2032.
2. ➤ Air-blown evaporators to dominate with 41.6% share in 2025 due to rapid cooling.
3. ➤ Road transportation projected to lead with 28.4% market share in 2025.
4. ➤ North America to remain dominant region with 35.7% share, fueled by cold chain demand.
5. ➤ Electrification of fleets driven by government subsidies and emission norms.
6. ➤ Blockchain adoption enhancing transparency in cold logistics.

Market Segmentation

The refrigerated transport market can be segmented by product type, such as frozen, chilled, and deep-frozen goods. Among these, chilled products like fresh fruits, vegetables, dairy, and pharmaceuticals represent a major share due to their high perishability. Demand for frozen food is also rising, particularly in urban areas with increasing reliance on ready-to-eat meals.

From the end-user perspective, the market is primarily served by sectors like food & beverages, pharmaceuticals, and chemicals. The food segment continues to dominate, driven by consumer preference for fresh and minimally processed foods. In parallel, the pharmaceutical industry is significantly investing in temperature-controlled logistics to maintain drug efficacy during transport, especially with the rise of biologics and vaccines.

Regional Insights

North America leads the refrigerated transport market, with robust infrastructure, rising imports of fresh produce, and stringent food safety norms fostering growth. Countries like the United States and Canada are aggressively upgrading fleets and integrating smart cold chain technologies to reduce losses and meet compliance requirements.

In Asia Pacific, rapid urbanization, increasing disposable income, and growing retail chains are fueling demand for refrigerated transport. China and India are emerging as high-potential markets, with government initiatives boosting cold chain infrastructure to ensure food security and reduce post-harvest losses.

Market Drivers

One of the primary drivers of this market is the surging global demand for perishable foods, including fresh fruits, vegetables, dairy, and seafood. The growing popularity of online grocery platforms has further accelerated the need for efficient last-mile refrigerated logistics. Additionally, the pharmaceutical industry's reliance on controlled environments for transporting temperature-sensitive drugs and vaccines is creating steady growth.

The adoption of smart technologies such as IoT-based sensors, GPS tracking, and AI-powered route optimization is revolutionizing refrigerated fleet operations. These innovations enhance shipment visibility, improve efficiency, and reduce spoilage, thereby strengthening customer trust and satisfaction.

Market Restraints

Despite its growth potential, the refrigerated transport market faces several challenges. High operational costs, including fuel expenses, maintenance of cooling systems, and skilled labor shortages, can deter small logistics companies from entering the market. Moreover, the complexity of maintaining consistent temperatures across diverse climates and terrains presents logistical difficulties.

Another major constraint is the lack of standardized regulations across different countries. Varying temperature guidelines, packaging standards, and certification requirements hinder smooth international trade and increase compliance costs for exporters and logistics providers.

Market Opportunities

The transition toward electric and hybrid refrigerated trucks presents a significant opportunity, especially in light of global decarbonization goals. Government subsidies and stricter emission regulations are pushing companies to electrify their fleets, reducing carbon footprints and long-term fuel costs.

In addition, the integration of blockchain for real-time tracking, accountability, and data sharing across stakeholders in the cold chain ecosystem offers potential for enhanced transparency. These technologies not only ensure regulatory compliance but also open up avenues for premium services in high-value markets like pharmaceuticals and specialty foods.

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📌 Frequently Asked Questions (FAQs)

1. ➤ How Big is the Refrigerated Transport Market?
2. ➤ What is the Projected Growth Rate of the Refrigerated Transport Market?
3. ➤ Who are the Key Players in the Global Market for Refrigerated Transport?
4. ➤ What is the Market Forecast for Refrigerated Transport through 2032?
5. ➤ Which Region is Estimated to Dominate the Refrigerated Transport Industry through the Forecast Period?

🏢 Company Insights

Key players operating in the refrigerated transport market include:

✦ Maersk Line
✦ C.H. Robinson
✦ Kuehne + Nagel International AG
✦ United Parcel Service (UPS)
✦ Thermo King Corporation
✦ Daikin Industries, Ltd.
✦ Carrier Global Corporation
✦ DB Schenker
✦ Lineage Logistics
✦ DHL Group

■ In 2024, Carrier Global launched a fully electric reefer trailer with solar integration, improving sustainability.

■ In 2025, Maersk introduced a blockchain-powered cold chain platform to enhance traceability and reduce food waste.

Conclusion

The refrigerated transport market is undergoing a transformative shift driven by evolving consumer habits, technological advancements, and the globalization of supply chains. With demand soaring in both food and pharmaceutical sectors, stakeholders are adopting smarter, greener, and more efficient solutions to maintain product integrity and regulatory compliance.

As sustainability takes center stage and innovations like blockchain and electrification redefine cold logistics, the market is poised for robust growth in the years ahead. By navigating infrastructure challenges and embracing digitalization, companies can unlock substantial opportunities in this dynamic and essential segment of the transport industry.

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This release was published on openPR.