Global Refrigerated Road Transport Market, by Transportation Modes (Light Commercial Vehicles (LCV), Medium & Heavy Commercial Vehicles (MHCV), and Heavy Commercial Vehicles (HCV), by Cooling Type (Chilled and Frozen), by Technology (Cryogenic Systems and Vapor Compression Systems), and by Geography - Trends, and Forecast to 2025

  • Published On : Dec 2017 |
  • Pages : 250 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Global Refrigerated Road Transport Market - Insights

Global refrigerated road transport market was valued at US$ 12.81 billion in 2016, is projected to exhibit a CAGR of 6.11% over the forecast period (2017–2025), to be valued at US$ 21.78 billion by 2025. Growing demand for efficient distribution of perishable freights such as dairy products, beverages, processed meat, poultry products, ice cream, fruits and other edible products, which may perish in the normal environmental conditions are expected to be the prominent factor fueling growth of the refrigerated road transport market over the forecast period.

According to U.S. Census Bureau, the retail and food services market was valued over US$ 5.51 trillion in 2016, witnessing Y-o-Y growth of 2.98%. Moreover, online business models to cater the customer requirements on-demand have gained considerable traction over the last few years. Proliferation of these businesses and high penetration in the major global economies of the U.S., UK, China, India, Russia, and Canada, among many others is in turn projected to fuel the global refrigerated road transport market growth.

Figure 1. Global Refrigerated Road Transportation Market Opportunity Map

refrigerated road transport market

Source: Coherent Market Insights (2017)

Growing stringency of regulatory bodies towards food quality standards in addition to the high consumer inclination towards packaged and refrigerated foods will fuel the industry growth

High urbanization rates in emerging economies in conjunction with high inclination of population towards the frozen food products is among the prominent trends that has gained traction over the last few years. Easy to cook and ready to eat meals are among the prominent edible products in high demand in these region. Moreover, several economies have developed stringent regulations to regulate the food quality and distribution standards. For instance, Food Guidance & Regulation – FDA in U.S., General Food Law Regulation and European Food Safety Authority (EFSA) in Europe regulate the standards for manufacturing, processing, industry systems, and import/export activities. Compliance with these quality and distribution standards are expected to present strong growth prospects to the global refrigerated road transport market over the forecast period.

On the basis of transportation modes, light commercial vehicles dominated the global refrigerated road transport market in terms of volumes. Low ownership and maintenance cost of vehicles, in addition to low space footprints, ease of handling and maneuverability in urban locations are among the prominent factors that has led to significantly high adoption. However, bulk transportation and food manufacturing capabilities limited by the availability of the required raw material resources in certain locations, which account for the largest end use industry, has led to significant contribution of heavy commercial vehicles in terms of value. HCVs dominated the industry size in terms of the revenue generation contributing to around 45% of the total market size.

Asia Pacific refrigerated road transport market size accounted for 31.16% of the global industry share, is expected to continue its dominance over the forecast period. Moreover, the market in the region is also expected to witness highest growth over the near future, primarily owing to the world’s largest population base that in turn led to high consumption requirements, and presence of large number of emerging economies that include China, India, Thailand, Indonesia and other ASEAN economies.

Some of the major players in the refrigerated road transport market are China International Marine Containers Ltd., Daikin Industries, Ltd., Ingersoll-Rand PLC, Hyundai Motor Company, Lamberet SAS, Singamas Container Holdings Limited, Schmitz Cargobull AG, United Technologies Corporation (Carrier Corporation), Utility Trailer Manufacturing Company, and Wabash National Corporation. Reducing the engine power consumption, providing efficient and better cooling capacities at competitive costs are among the prominent strategies adopted by the players to strengthen their industry foothold. For instance, in December 2017, ABC Transport purchased 6 Maxi-CUBE refrigerated trailers that were integrated with the Carrier Vector 8600 Multi-Temp (MT) units. On average, these installations featured 26% less fuel consumption, 20% less engine power consumption and 4% better cooling capacity than the competition.

Refrigerated road transport refers to the automotive systems designed for transportation of perishable freights at specific temperatures to retain its quality over its course. These automotive are integrated with cooling apparatus, powered by small displacement diesel engines or utilize dry ice as cooling agent to maintain specific temperatures. Requirement to maintain the edible quality of the products and compliance to the regional food quality regulations, is projected to be among the prominent growth driver of the refrigerated road transport market over the forecast period (2017–2025).

Market Dynamics

Significant growth of multi-chain food and beverage retail industry is anticipated to be among the prominent growth driver of the industry. Food and beverages industry retailing and servicing has witnessed considerable evolution over the last few years. Business models providing online services to cater the consumer appetite requirements, high growth in consumer motivation towards packaged foods are among the prominent trends witnessed across all the major economies of the globe. In conjunction with these factors, development of stringent food quality standards, to safeguard consumer health will present strong growth prospects over the next few years. For instance, Food Guidance & Regulation – FDA in U.S., General Food Law Regulation and European Food Safety Authority (EFSA) in Europe regulate the standards for manufacturing, processing, industry systems, and import/export activities. However, high initial investment and maintenance cost of these systems is expected to be among the major factors that will continue to hamper the overall industry growth over the next few years.

Key features of the study:

  • This report provides in-depth analysis of refrigerated road transport, market size (US$ Million), and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017– 2025), considering 2016 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global refrigerated road transport market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, refrigerated road transport market capital, key developments, strategies, and future plans
  • Key companies covered as a part of this study include China International Marine Containers (Group) Ltd., Daikin Industries, Ltd., Hyundai Motor Company, Ingersoll-Rand PLC (Thermo King), Lamberet SAS, Schmitz Cargobull AG, Singamas Container Holdings Limited, United Technologies Corporation (Carrier Corporation), Utility Trailer Manufacturing Company, and Wabash National Corporation
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launches, product up-gradation, market expansion, and marketing tactics
  • The global refrigerated road transport market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the global refrigerated road transport market

Detailed Segmentation:

  • Global Refrigerated Road Transport Market, By Transportation Mode:
    • LCV
    • MHCV
    • HCV
  • Global Refrigerated Road Transport Market, By Cooling Type:
    • Chilled
    • Frozen
  • Global Refrigerated Road Transport Market, By Technology:
    • Cryogenic systems
    • Vapor Compression Systems
  • Global Refrigerated Road Transport Market, By Geography:
    • North America
      • By Transportation Mode:
        • LCV
        • MHCV
        • HCV
      • By Cooling Type:
        • Chilled
        • Frozen
      • By Technology:
        • Cryogenic systems
        • Vapor Compression Systems
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Transportation Mode:
        • LCV
        • MHCV
        • HCV
      • By Cooling Type:
        • Chilled
        • Frozen
      • By Technology:
        • Cryogenic systems
        • Vapor Compression Systems
      • By Country:
        • Germany
        • UK
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Transportation Mode:
        • LCV
        • MHCV
        • HCV
      • By Cooling Type:
        • Chilled
        • Frozen
      • By Technology:
        • Cryogenic systems
        • Vapor Compression Systems
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Latin America
      • By Transportation Mode:
        • LCV
        • MHCV
        • HCV
      • By Cooling Type:
        • Chilled
        • Frozen
      • By Technology:
        • Cryogenic systems
        • Vapor Compression Systems
      • By Country:
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • By Transportation Mode:
        • LCV
        • MHCV
        • HCV
      • By Cooling Type:
        • Chilled
        • Frozen
      • By Technology:
        • Cryogenic systems
        • Vapor Compression Systems
      • By Country:
        • GCC Countries
        • Israel
        • Rest of Middle East
  • Company Profiles
    • China International Marine Containers (Group) Ltd.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments/ Updates
    • China International Marine Containers (Group) Ltd.
    • Daikin Industries, Ltd.
    • Hyundai Motor Company
    • Ingersoll-Rand PLC (Thermo King)
    • Lamberet SAS
    • Schmitz Cargobull AG
    • Singamas Container Holdings Limited
    • United Technologies Corporation (Carrier Corporation)
    • Utility Trailer Manufacturing Compan
    • Wabash National Corporation

"*" marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Transportation Mode
      • Market Snippet, By Cooling Type
      • Market Snippet, By Technology
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Merger and Acquisitions
      • New system Launch/Approvals
      • Value Chain Analysis
      • Comparison of Smart Windows Materials and Technologies
      • Porter’s Analysis
      • PEST Analysis
  4. Global Refrigerated Road Transport Market, By Transportation Mode, 2015 - 2025 (USD Million & Units)
    • Introduction
      • Market Share Analysis, 2015 and 2025 (%)
      • Segment Trends
    • LCV
      • Introduction
      • Market Size and Forecast, 2015–2025, (US$ Million & Units)
    • MHCV
      • Introduction
      • Market Size and Forecast, 2015–2025, (US$ Million & Units)
    • HCV
      • Introduction
      • Market Size and Forecast, 2015–2025, (US$ Million & Units)
  5. Global Refrigerated Road Transport Market, By Cooling Type, 2015–2025 (US$ Million & Units)
    • Introduction
      • Market Share Analysis, 2015 and 2025 (%)
      • Segment Trends
    • Chilled
      • Introduction
      • Market Size and Forecast, 2015–2025, (US$ Million & Units)
    • Frozen
      • Introduction
      • Market Size and Forecast, 2015–2025, (US$ Million & Units)
  6. Global Refrigerated Road Transport Market, By Technology, 2015–2025 (US$ Million & Units)
    • Introduction
      • Market Share Analysis, 2015 and 2025 (%)
      • Segment Trends
    • Cryogenic systems
      • Introduction
      • Market Size and Forecast, 2015–2025, (US$ Million & Units)
    • Vapor Compression Systems
      • Introduction
      • Market Size and Forecast, 2015–2025, (US$ Million & Units)
  7. Global Refrigerated Road Transport Market, By Regions, 2015–2025 (US$ Million & Units)
    • Introduction
      • Market Share Analysis, By Region, 2015 and 2025 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Transportation Mode, 2015–2025 (US$ Million & Units)
      • Market Size and Forecast, By Cooling Type, 2015–2025 (US$ Million & Units)
      • Market Size and Forecast, By Technology, 2015–2025 (US$ Million & Units)
      • Market Share Analysis, By Country, 2015 and 2025 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Transportation Mode, 2015–2025 (US$ Million & Units)
      • Market Size and Forecast, By Cooling Type, 2015–2025 (US$ Million & Units)
      • Market Size and Forecast, By Technology, 2015–2025 (US$ Million & Units)
      • Market Share Analysis, By Country, 2015 and 2025 (%)
        • UK
        • Germany
        • Italy
        • France
        • Russia
        • Others
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Transportation Mode, 2015–2025 (US$ Million & Units)
      • Market Size and Forecast, By Cooling Type, 2015–2025 (US$ Million & Units)
      • Market Size and Forecast, By Technology, 2015–2025 (US$ Million & Units)
      • Market Share Analysis, By Country, 2015 and 2025 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Others
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Transportation Mode, 2015–2025 (US$ Million & Units)
      • Market Size and Forecast, By Cooling Type, 2015–2025 (US$ Million & Units)
      • Market Size and Forecast, By Technology, 2015–2025 (US$ Million & Units)
      • Market Share Analysis, By Country, 2015 and 2025 (%)
        • Brazil
        • Argentina
        • Mexico
        • Others
    • Middle East & Africa
      • Regional Trends
      • Market Size and Forecast, By Transportation Mode, 2015–2025 (US$ Million & Units)
      • Market Size and Forecast, By Cooling Type, 2015–2025 (US$ Million & Units)
      • Market Size and Forecast, By Technology, 2015–2025 (US$ Million & Units)
      • Market Share Analysis, By Country, 2015 and 2025 (%)
        • GCC Countries
        • Israel
        • Northern Africa
        • Central Africa
        • South Africa
  8. Competitive Landscape
    • Company Profiles
      • China International Marine Containers (Group) Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • China International Marine Containers (Group) Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Daikin Industries, Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Hyundai Motor Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ingersoll-Rand PLC (Thermo King)
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Lamberet SAS
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Schmitz Cargobull AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Singamas Container Holdings Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • United Technologies Corporation (Carrier Corporation)
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Utility Trailer Manufacturing Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Wabash National Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 60 market data tables and 40 figures on "Refrigerated Road Transport Market - Global forecast to 2024”.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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