PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1747905
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1747905
Global Reefer Trucks Market to Reach US$15.8 Billion by 2030
The global market for Reefer Trucks estimated at US$10.2 Billion in the year 2024, is expected to reach US$15.8 Billion by 2030, growing at a CAGR of 7.6% over the analysis period 2024-2030. Light Commercial Vehicles, one of the segments analyzed in the report, is expected to record a 7.3% CAGR and reach US$8.9 Billion by the end of the analysis period. Growth in the Medium Commercial Vehicles segment is estimated at 8.7% CAGR over the analysis period.
The U.S. Market is Estimated at US$2.8 Billion While China is Forecast to Grow at 11.8% CAGR
The Reefer Trucks market in the U.S. is estimated at US$2.8 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$3.3 Billion by the year 2030 trailing a CAGR of 11.8% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.9% and 7.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.
Global "Reefer Trucks" Market - Key Trends & Drivers Summarized
Are Reefer Trucks Becoming Critical Infrastructure For The Global Cold Chain?
Refrigerated trucks, or reefer trucks, are increasingly vital in the transportation of perishable goods, especially as global demand for fresh food, pharmaceuticals, and temperature-sensitive commodities surges. These vehicles are key enablers of cold chain logistics, ensuring consistent temperature control from origin to destination. With e-commerce expanding into food and healthcare, reefer trucks are also evolving from bulk delivery units to agile, city-scale distribution vehicles. As consumers demand fresher produce and ready-to-eat meals, and pharmaceutical supply chains grow more stringent, reefer fleets are becoming indispensable in modern logistics ecosystems.
How Is Technology Improving Efficiency And Compliance In Reefer Trucks?
Telematics, IoT, and real-time temperature monitoring are revolutionizing reefer truck operations. GPS tracking, remote diagnostics, and automated climate control ensure temperature consistency, route optimization, and regulatory compliance. New refrigeration technologies-like hybrid-electric units, cryogenic cooling, and solar-assisted power-are improving energy efficiency and reducing emissions. Cold chain compliance frameworks such as GDP (Good Distribution Practice) and FSMA (Food Safety Modernization Act) are pushing for better monitoring and audit trails, which advanced reefer systems are now built to provide. These technologies make modern reefer trucks smarter, cleaner, and more accountable.
Which Sectors Are Fueling Global Demand For Refrigerated Transportation?
The food and beverage sector-especially dairy, seafood, meat, and frozen goods-is the largest user of reefer trucks, ensuring freshness and minimizing spoilage. Pharmaceuticals and biotech firms rely on reefer fleets for vaccine transport, biologics, and temperature-controlled medications. The rise in home delivery and direct-to-consumer grocery services is also driving urban reefer demand. Retailers and restaurant chains use reefers for replenishing cold inventories across regional hubs. Cold chain expansion in emerging economies, backed by infrastructure development, is further increasing the demand for reefer vehicles in agribusiness and healthcare.
What’s Powering Growth In The Reefer Truck Market Worldwide?
The growth in the reefer truck market is driven by rising demand for perishable goods transport, advancements in refrigeration technology, and stricter regulatory standards. Technological innovation in tracking, fleet telematics, and eco-friendly cooling solutions is enhancing logistics efficiency. End-use growth is propelled by global e-commerce in food and pharma, as well as expansion of cold storage networks. Public health initiatives and government support for rural vaccine outreach are also increasing reefer penetration. Additionally, the trend toward urban micro-fulfillment centers and last-mile refrigerated delivery is reinforcing long-term market demand.
SCOPE OF STUDY:
The report analyzes the Reefer Trucks market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Vehicle Type (Light Commercial Vehicles, Medium Commercial Vehicles, Heavy Commercial Vehicles); Application (Food & Beverages, Pharmaceuticals, Chemicals, Other Applications)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
Select Competitors (Total 37 Featured) -
TARIFF IMPACT FACTOR
Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.
We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.
We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.
As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.
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APRIL 2025: NEGOTIATION PHASE
Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.
JULY 2025 FINAL TARIFF RESET
Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.
Reciprocal and Bilateral Trade & Tariff Impact Analyses:
USA <> CHINA <> MEXICO <> CANADA <> EU <> JAPAN <> INDIA <> 176 OTHER COUNTRIES.
Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.
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