Press release
Truck Refrigeration Unit Market to Reach US$9.23 Billion by 2031 | Frozen Food Segment Leads with Dominant Share in Perishable Goods Transport | DataM Intelligence
Truck Refrigeration Unit Market
According to DataM Intelligence, the global truck refrigeration unit market size was worth US$6.83 billion in 2024 and is estimated to reach US$9.23 billion by 2031, growing at a CAGR of 4.4% during the forecast period (2024-2031). This steady growth is propelled by expanding cold chain logistics, increasing demand for frozen and perishable food transport, growing pharmaceutical cold chain requirements, stringent temperature control regulations, and rising international trade of temperature-sensitive goods.
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Report Attribute - Details
No. of Pages - 180
Forecast Period - 2024-2031
Estimated Market Value (USD) in 2024 - $6.83 Billion
Forecasted Market Value (USD) by 2031 - $9.23 Billion
Compound Annual Growth Rate - 4.4%
Regions Covered - Global
United States Recent Developments:
✅ Carrier Transicold launched next-generation electric truck refrigeration units with zero emissions operation, specifically designed for urban delivery fleets in California and other regulated markets
✅ Thermo King introduced smart refrigeration systems with real-time temperature monitoring and predictive maintenance for pharmaceutical transport compliance
✅ Walmart deployed advanced multi-temperature zone refrigeration units across its LCV fleet for optimized frozen and chilled food delivery
Japan Recent Developments:
✅ Mitsubishi Heavy Industries developed compact split systems for light commercial vehicles serving urban fresh food markets
✅ Japan Cold Chain Association established new temperature control standards driving adoption of advanced refrigeration technologies
✅ Yamato Transport integrated solar-assisted refrigeration units reducing diesel consumption by 35% in metropolitan delivery operations
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Competitive Landscape
The market features strong competition between global refrigeration manufacturers, vehicle OEMs, and specialized cold chain solution providers.
1. Carrier Transicold maintained market leadership with 28% global market share, expanding their electric portfolio and reporting 22% revenue growth in 2024-2025 through sustainability-focused fleet contracts.
2. Thermo King captured 25% market share in pharmaceutical applications, securing long-term service agreements and achieving 24% growth through compliance-driven solutions.
3. Daimler Truck AG dominated the trailer segment with 20% market share, reporting 21% growth through integrated vehicle-refrigeration systems.
4. China International Marine Containers led cost-effective solutions with 18% market share, achieving 26% growth through emerging market expansion.
5. Mitsubishi Heavy Industries expanded light commercial applications with 15% market share, focusing on urban delivery with 19% revenue growth.
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Segmentation Analysis
By System
• Roof Mount System dominates the market with 58% revenue share in 2024, projected to grow at 4.2% CAGR, valued for space efficiency, aerodynamic design, ease of maintenance, and widespread adoption in trailer applications requiring uniform temperature distribution and maximum cargo space utilization.
• Split System shows accelerated growth with 42% revenue share in 2024, expected to grow at 4.8% CAGR, preferred for light commercial vehicles, flexible installation, and noise reduction in urban delivery applications.
By Vehicle
• Trailer represents the largest segment with 65% revenue share in 2024, growing at 4.3% CAGR, driven by long-haul transport requirements, high capacity needs, intermodal compatibility, and dominant role in international cold chain logistics for frozen food, pharmaceutical, and chemical shipments.
• Light Commercial Vehicle (LCV) shows robust growth with 35% revenue share in 2024, expanding at 4.7% CAGR, valued for last-mile delivery, urban distribution, and flexible routing capabilities.
By Industry
• Frozen Food dominates this segment as the largest use of truck refrigeration units with 45% revenue share in 2024, growing at 4.6% CAGR, driven by essential requirements for transportation of fruits, vegetables, meat, seafood and other perishable food items, expanding frozen food consumption, global agricultural trade, and stringent food safety regulations mandating temperature-controlled transport.
• Pharmaceutical shows significant growth with 30% revenue share in 2024, expanding at 5.2% CAGR, valued for temperature-sensitive drug transport, vaccine distribution, and strict regulatory compliance requirements.
• Chemical and other industries demonstrate specialized temperature control needs.
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Regional Analysis:
Asia-Pacific is leading in the global truck refrigeration unit system market with 38% revenue share in 2024, driven by massive population base, expanding cold chain infrastructure, growing middle-class consumption of frozen foods, increasing pharmaceutical manufacturing, and strong agricultural exports across China, India, Japan, and Southeast Asian countries.
North America shows steady growth with advanced cold chain networks and strict food safety regulations, while Europe demonstrates strong focus on sustainable refrigeration technologies and emission compliance.
Market Trends & Drivers
The Truck Refrigeration Unit Market is experiencing steady growth driven by cold chain expansion, food safety requirements, pharmaceutical logistics evolution, and sustainability initiatives. Key trends include the development of electric and hybrid systems, growth of telematics and IoT integration, advancement in multi-temperature zone control, expansion of eco-friendly refrigerants, and increasing focus on energy efficiency and reduced carbon footprint. The logistics modernization, regulatory compliance, and sustainability focus are significantly contributing to market expansion.
Related Reports:
1. Cold Chain Market - https://www.datamintelligence.com/research-report/cold-chain-market?jd
2. Cold Chain Market - https://www.datamintelligence.com/research-report/cold-chain-market?jd
3. Pharmaceutical Cold Chain Logistics Market - https://www.datamintelligence.com/research-report/pharmaceutical-cold-chain-logistics-market?jd
Contact Us:
Sai Kiran
DataM Intelligence 4market Research LLP
Phone: +1 877-441-4866
Email: Sai.k@datamintelligence.com
About DataM Intelligence
DataM Intelligence is a renowned provider of market research, delivering deep insights through pricing analysis, market share breakdowns, and competitive intelligence. The company specialises in strategic reports that guide businesses in high-growth sectors such as nutraceuticals and AI-driven health innovations.
To find out more, visit https://www.datamintelligence.com/ or follow us on Twitter, LinkedIn and Facebook.
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