Frozen Food Surge Fuels Growth In Refrigerated Transport Market: Strategic Insights Driving Refrigerated Transport Market Momentum in 2025

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What Is the Expected CAGR for the Refrigerated Transport Market Through 2025?
The size of the refrigerated transport market has seen notable growth in the past few years. It is projected to increase from $121.46 billion in 2024 to $130.95 billion in 2025, yielding a compound annual growth rate (CAGR) of 7.8%. Factors such as global trade growth, rising health-aware consumers, strict food safety guidelines, expansion of the food and beverage sector, and worldwide population increase are contributing to the historical period growth.

What's the Projected Size of the Global Refrigerated Transport Market by 2029?
The market size of refrigerated transportation is anticipated to witness robust growth in the forthcoming years. It is projected to reach a size of $180.16 billion in 2029, growing at a compound annual growth rate (CAGR) of 8.3%. The predicted growth during this period can be associated with rising global food requirements, an upsurge in healthcare logistics, initiatives geared towards sustainable transportation, an increase in e-commerce and online grocery purchases, as well as the demand for pharmaceuticals. Key trends anticipated during this forecast period comprise remote monitoring solutions, collaborative efforts, the rise of blockchain technology, bespoke refrigerated solutions, and a shift towards renewable energy sources.

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Top Growth Drivers in the Refrigerated Transport Industry: What's Accelerating the Market?
The increasing demand for frozen food products is facilitating the expansion of the refrigerated transport market. The term 'frozen variants' refers to previously treated products through methods like blanching, heat treatments, dipping treatments, and cryoprotection, based on what is being frozen. The extensive consumption of frozen versions of a variety of fresh products is on the rise, as these options promote vegetable ingestion due to their cost-effectiveness and easy accessibility. For example, WahUstad, an Indian fresh frozen food manufacturer & supplier, stressed this growing trend. Moreover, according to Frozen Food Europe, a UK-based magazine specializing in information regarding the frozen food industry in Europe, in December 2023, the international frozen food market was valued at USD 392.4 billion in 2022, with expectations to achieve USD 612.3 billion by 2032. In 2022, Europe led the world in the frozen food market, boasting a market share of nearly 37%. Consequently, the increasing popularity of frozen food items is steering the growth of the refrigerated transport market.

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What Trends Will Shape the Refrigerated Transport Market Through 2029 and Beyond?
Technological advancements are leading trends that are gaining traction in the refrigerated transport sector. The predominant companies in this sector are prioritizing the introduction of cutting-edge technology to maintain their standing. For instance, Mitsubishi Heavy Industries Thermal Systems, a Japanese firm specializing in the manufacturing of refrigeration and air conditioning, unveiled the "TEK Series" of electric powered transport refrigeration units intended for small and middle-sized trucks in June 2024. The TEK series is designed to accommodate the increased need for consistent-temperature transport solutions, driven by a surge in home delivery services from grocery stores and the need for secure transportation of pharmaceuticals.

What Are the Main Segments in the Refrigerated Transport Market?
The refrigerated transport market covered in this report is segmented -

1) By Transport Type: Refrigerated Road Transport, Refrigerated Medium & Heavy Commercial Vehicles (MHCV), Refrigerated Light Commercial Vehicles (LCV), Refrigerated Heavy Commercial Vehicles (HCV)), Refrigerated Sea Transport, Refrigerated Rail Transport, Refrigerated Air Transport
2) By Temperature: Single Temperature, Multi-Temperature
3) By Application: Chilled Food, Frozen Food

Subsegments:
1) By Refrigerated Road Transport: Refrigerated Trucks, Refrigerated Vans
2) By Refrigerated Medium And Heavy Commercial Vehicles (MHCV): Refrigerated Trailers, Refrigerated Containers
3) By Refrigerated Light Commercial Vehicles (LCV): Refrigerated Vans, Refrigerated Small Trucks
4) By Refrigerated Heavy Commercial Vehicles (HCV): Refrigerated Trucks, Refrigerated Trailers
5) By Refrigerated Sea Transport: Reefer Ships, Refrigerated Containers
6) By Refrigerated Rail Transport: Refrigerated Rail Cars, Reefer Containers
7) By Refrigerated Air Transport: Air Freight Services, Cargo Aircraft

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Which Top Companies are Driving Growth in the Refrigerated Transport Market?
Major companies operating in the refrigerated transport market include Carrier Transicold, Thermo King Corporation, Daikin Industries Ltd., Trane Technologies plc, Mitsubishi Heavy Industries Ltd., GAH Refrigeration Ltd., Great Dane LLC, Wabash National Corporation, Ingersoll Rand Inc., Schmitz Cargobull AG, Lamberet SAS, Hwasung Thermo Co. Ltd., China International Marine Containers (Group) Ltd., Hyundai Translead, Singamas Container Holdings Ltd., Utility Trailer Manufacturing Company, Klinge Corporation, Kingtec Group Company Ltd., Morgan Corporation, DENSO Corporation, Daikin Reefer, Frigoblock GmbH, Carrier Corporation, Polar Leasing Inc., Sanden Holdings Corporation, Zanotti S.p.A, Hubbard Products Ltd., MHI Thermal Systems

Which Regions Will Dominate the Refrigerated Transport Market Through 2029?
Europe was the largest region in the refrigerated transport market in 2024. Asia-Pacific is expected to be the fastest-growing region in the refrigerated transport market report forecast period. The regions covered in the refrigerated transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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