Refrigerated Transport Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Mode (Road, Sea, Rail and Air), By Product Type, By Technology, By Temperature, By Region & Competition, 2021-2031F

Description

The Global Refrigerated Transport Market is projected to expand from USD 122.13 Billion in 2025 to USD 199.36 Billion by 2031, achieving a CAGR of 8.51%. This sector covers the strategic logistics and movement of temperature-sensitive goods, such as perishable foods, medical supplies, and chemicals, using climate-controlled assets like reefer trucks, vessels, and air cargo units. Growth is primarily driven by the globalization of food supply chains, which requires the long-haul transport of fresh produce, and the pharmaceutical industry's need to transport biologics and vaccines. These fundamental drivers ensure a steady demand for reliable temperature assurance, independent of temporary technological trends in logistics.

Market Overview
Forecast Period	2027-2031
Market Size 2025	USD 122.13 Billion
Market Size 2031	USD 199.36 Billion
CAGR 2026-2031	8.51%
Fastest Growing Segment	Multi Temperature
Largest Market	Asia Pacific

However, the industry encounters significant hurdles due to the high capital and operational costs involved in maintaining energy-intensive refrigeration systems and ensuring regulatory compliance. These financial burdens, exacerbated by volatile fuel prices, can slow the fleet modernization necessary to handle increasing volumes. Despite these challenges, infrastructure investment continues; the Global Cold Chain Alliance reported that in 2025, the total temperature-controlled capacity of its global members reached 8.16 billion cubic feet, marking an increase of over 10 percent from the previous year.

Market Driver

The Global Refrigerated Transport Market is largely propelled by the rising global demand for frozen and perishable foods, influenced by shifting consumer lifestyles and the need for year-round availability of seasonal produce. This trend compels logistics providers to increase their capacity for temperature-sensitive cargo to maintain product integrity across complex international supply chains. According to Hapag-Lloyd's preliminary figures released in January 2025, the company saw a transport volume increase of approximately 5 percent to 12.5 million TEU in 2024, supported by its extensive fleet of modern reefer containers, highlighting the vital role of maritime infrastructure in meeting global consumption needs.

A second major driver is the rapid growth of pharmaceutical and healthcare cold chain logistics, which requires advanced temperature control for biologics, vaccines, and personalized medicines. This sector demands precise, compliant, and traceable transport solutions to prevent the spoilage of high-value life sciences products. United Cargo reported in January 2025 that it transported nearly 1.3 billion pounds of cargo in 2024, including about 43 million pounds of medical shipments. Furthermore, the International Air Transport Association noted in January 2025 that global air cargo demand for the full year 2024 rose by 11.3 percent compared to the previous year, surpassing the record volumes of 2021.

Market Challenge

High capital and operational expenditures represent a major bottleneck for the Global Refrigerated Transport Market. The substantial investment needed to purchase specialized climate-controlled vehicles and maintain energy-heavy refrigeration units creates high barriers to entry. These costs are further aggravated by strict regulatory compliance requirements and fluctuating fuel prices, which compress profit margins and deter new market participants. Faced with such financial pressures, carriers often delay fleet modernization or expansion, which limits the capacity available to support growing global food and pharmaceutical supply chains.

This financial strain is highlighted by recent industry data regarding rising fleet expenses. The American Transportation Research Institute reported that in 2025, non-fuel marginal costs for motor carriers hit a record high of $1.779 per mile, largely due to an 8.3 percent increase in truck and trailer lease or purchase payments compared to the prior year. This escalation in equipment and operating costs directly hinders the ability of logistics providers to scale their operations effectively, thereby stalling the market's overall ability to efficiently meet increasing demand volumes.

Market Trends

The electrification of refrigerated transport fleets is becoming a key strategy to decarbonize logistics and adhere to strict emission regulations. Companies are increasingly adopting electric transport refrigeration units (eTRUs) and axle-based energy recovery systems to remove dependence on diesel-powered auxiliary engines, a transition supported by battery advancements that enable autonomous temperature control. In September 2024, Thermo King reported that its AxlePower energy recovery system could reduce carbon emissions by up to 12 tonnes annually for distribution trailers, illustrating the substantial environmental benefits of these technologies.

Simultaneously, the development of smart containers with active temperature management is revolutionizing global cold chain efficiency by combining real-time monitoring with autonomous climate control. These advanced units use algorithms to adjust compressor speeds and energy use based on external conditions, significantly reducing operational costs and extending shelf life during transit. Carrier Transicold announced in November 2024 that its new OptimaLINE container refrigeration unit lowers annual energy costs by up to 15 percent compared to competitor units, underscoring the financial advantages of intelligent cold chain solutions.

Key Market Players

Carrier Transicold
Ingersoll Rand PLC
China International Marine Containers
Lamberet SAS
Schmitz Cargobull AG
Wabash National Corporation
Hyundai Motor Company
Utility Trailer Manufacturing Company
Daikin Industries Ltd
Singamas Container Holdings Ltd

Report Scope

In this report, the Global Refrigerated Transport Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Refrigerated Transport Market, By Mode

Road (Refrigerated LCV, Refrigerated MHCV and Refrigerated HCV)
Sea
Rail
Air

Refrigerated Transport Market, By Product Type

Chilled
Frozen

Refrigerated Transport Market, By Technology

Vapor Compression Systems
Cryogenic Systems

Refrigerated Transport Market, By Temperature

Single Temperature and Multi Temperature
Multi Temperature

Refrigerated Transport Market, By Region

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Refrigerated Transport Market.

Available Customizations:

Global Refrigerated Transport Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Refrigerated Transport Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By Mode (Road (Refrigerated LCV, Refrigerated MHCV and Refrigerated HCV), Sea, Rail and Air)
- 5.2.2. By Product Type (Chilled and Frozen)
- 5.2.3. By Technology (Vapor Compression Systems and Cryogenic Systems)
- 5.2.4. By Temperature (Single Temperature and Multi Temperature)
- 5.2.5. By Region
- 5.2.6. By Company (2025)
5.3. Market Map

6. North America Refrigerated Transport Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By Mode
- 6.2.2. By Product Type
- 6.2.3. By Technology
- 6.2.4. By Temperature
- 6.2.5. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Refrigerated Transport Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By Mode
    - 6.3.1.2.2. By Product Type
    - 6.3.1.2.3. By Technology
    - 6.3.1.2.4. By Temperature
- 6.3.2. Canada Refrigerated Transport Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By Mode
    - 6.3.2.2.2. By Product Type
    - 6.3.2.2.3. By Technology
    - 6.3.2.2.4. By Temperature
- 6.3.3. Mexico Refrigerated Transport Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By Mode
    - 6.3.3.2.2. By Product Type
    - 6.3.3.2.3. By Technology
    - 6.3.3.2.4. By Temperature

7. Europe Refrigerated Transport Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By Mode
- 7.2.2. By Product Type
- 7.2.3. By Technology
- 7.2.4. By Temperature
- 7.2.5. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Refrigerated Transport Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By Mode
    - 7.3.1.2.2. By Product Type
    - 7.3.1.2.3. By Technology
    - 7.3.1.2.4. By Temperature
- 7.3.2. France Refrigerated Transport Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By Mode
    - 7.3.2.2.2. By Product Type
    - 7.3.2.2.3. By Technology
    - 7.3.2.2.4. By Temperature
- 7.3.3. United Kingdom Refrigerated Transport Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By Mode
    - 7.3.3.2.2. By Product Type
    - 7.3.3.2.3. By Technology
    - 7.3.3.2.4. By Temperature
- 7.3.4. Italy Refrigerated Transport Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By Mode
    - 7.3.4.2.2. By Product Type
    - 7.3.4.2.3. By Technology
    - 7.3.4.2.4. By Temperature
- 7.3.5. Spain Refrigerated Transport Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By Mode
    - 7.3.5.2.2. By Product Type
    - 7.3.5.2.3. By Technology
    - 7.3.5.2.4. By Temperature

8. Asia Pacific Refrigerated Transport Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By Mode
- 8.2.2. By Product Type
- 8.2.3. By Technology
- 8.2.4. By Temperature
- 8.2.5. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Refrigerated Transport Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By Mode
    - 8.3.1.2.2. By Product Type
    - 8.3.1.2.3. By Technology
    - 8.3.1.2.4. By Temperature
- 8.3.2. India Refrigerated Transport Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By Mode
    - 8.3.2.2.2. By Product Type
    - 8.3.2.2.3. By Technology
    - 8.3.2.2.4. By Temperature
- 8.3.3. Japan Refrigerated Transport Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By Mode
    - 8.3.3.2.2. By Product Type
    - 8.3.3.2.3. By Technology
    - 8.3.3.2.4. By Temperature
- 8.3.4. South Korea Refrigerated Transport Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By Mode
    - 8.3.4.2.2. By Product Type
    - 8.3.4.2.3. By Technology
    - 8.3.4.2.4. By Temperature
- 8.3.5. Australia Refrigerated Transport Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By Mode
    - 8.3.5.2.2. By Product Type
    - 8.3.5.2.3. By Technology
    - 8.3.5.2.4. By Temperature

9. Middle East & Africa Refrigerated Transport Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By Mode
- 9.2.2. By Product Type
- 9.2.3. By Technology
- 9.2.4. By Temperature
- 9.2.5. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Refrigerated Transport Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By Mode
    - 9.3.1.2.2. By Product Type
    - 9.3.1.2.3. By Technology
    - 9.3.1.2.4. By Temperature
- 9.3.2. UAE Refrigerated Transport Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By Mode
    - 9.3.2.2.2. By Product Type
    - 9.3.2.2.3. By Technology
    - 9.3.2.2.4. By Temperature
- 9.3.3. South Africa Refrigerated Transport Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By Mode
    - 9.3.3.2.2. By Product Type
    - 9.3.3.2.3. By Technology
    - 9.3.3.2.4. By Temperature

10. South America Refrigerated Transport Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By Mode
- 10.2.2. By Product Type
- 10.2.3. By Technology
- 10.2.4. By Temperature
- 10.2.5. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Refrigerated Transport Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By Mode
    - 10.3.1.2.2. By Product Type
    - 10.3.1.2.3. By Technology
    - 10.3.1.2.4. By Temperature
- 10.3.2. Colombia Refrigerated Transport Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By Mode
    - 10.3.2.2.2. By Product Type
    - 10.3.2.2.3. By Technology
    - 10.3.2.2.4. By Temperature
- 10.3.3. Argentina Refrigerated Transport Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By Mode
    - 10.3.3.2.2. By Product Type
    - 10.3.3.2.3. By Technology
    - 10.3.3.2.4. By Temperature

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Refrigerated Transport Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Carrier Transicold
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. Ingersoll Rand PLC
15.3. China International Marine Containers
15.4. Lamberet SAS
15.5. Schmitz Cargobull AG
15.6. Wabash National Corporation
15.7. Hyundai Motor Company
15.8. Utility Trailer Manufacturing Company
15.9. Daikin Industries Ltd
15.10. Singamas Container Holdings Ltd