The Refrigerated Road Transport Market, estimated at USD 21.56 Bn in 2025, is expected to exhibit a CAGR of 6.38% and reach USD 33.24 Bn by 2032.
The market growth is fueled by the increasing demand for intelligent, connected, and sustainable transportation solutions, along with shifting mobility trends and wider adoption across passenger and commercial segments. Innovations in vehicle connectivity, automation, and electrification, supported by strategic investments, are enhancing safety, efficiency, and user experience. Furthermore, favorable government policies, rapid infrastructure upgrades, and the push toward greener mobility are accelerating market expansion and unlocking new growth avenues for industry participants.
In March 2021, Carrier Transicold, a global force in transport refrigeration and air-conditioning, will accelerate and enhance its electrification capabilities through a new strategic agreement with Portuguese Technology Company AddVolt open_in_new. The partnership allows Carrier to use AddVolt's proven, engine-agnostic technology to build novel sustainable transport refrigeration solutions for customers in Europe.
On August 2022, Locomotion (an autonomous trucking startup) and Stevens Trucking (a temperature-controlled trucking company) signed an eight-year deal to optimize autonomous vehicle routes near Oklahoma. Stevens intends to deploy up to 500 vehicles outfitted with Autonomous Relay Convoy (ARC) devices from Locomotion.
