The Refrigerated Transport Market, estimated at USD 139.86 Bn in 2025, is expected to exhibit a CAGR of 7.4% and reach USD 230.53 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.
Refrigerated Transport Market Trends:
Due to the fact that the majority of pharmaceutical drugs are temperature-sensitive, it is essential to store and transport them in a controlled environment to ensure their effectiveness and safety. Growing accidents and incidents are now necessary for proper temperature-controlled transportation methods, like Refrigerated transports, to be efficient in preventing shipment losses. Due to improvements in the technology of refrigerated transport and a drop in shipping costs, a number of pharmaceutical companies have started doing business internationally in an effort to boost their revenue.
There is a greater need for temperature-controlled storage and transportation containers for biologics, cellular therapies, vaccines, and blood products.
Refrigerated Transport Market: Competitive Landscape
China International Marine Containers (Group) Ltd., Daikin Industries, Ltd., Great Dane Trailers, Inc., HYUNDAI Translead, Ingersoll-Rand PLC (Thermo King), Lamberet SAS, Mitsubishi Heavy Industries, Ltd., Schmitz Cargobull AG, Singamas Container Holdings Limited, United Technologies Corporation (Carrier Corporation), Utility Trailer Manufacturing Company, Wabash National Corporation, and Vehicle Works Bernard Krone Gmbh & Co. KG.
Refrigerated Transport Market: Recent Developments
For instance, in March 2021, Daimler, a subsidiary of the German Daimler Truck AG. Launched reefer truck to drive covid -19 vaccine transportation
For instance In July 2022, KLLM Transport Services (the temperature-controlled truckload carrier in the United States) acquired Quest Global Inc., a refrigerated 200-truck carrier located in Cartersville, Georgia. This acquisition may help enhance the company’s premium service offerings with expedited, temperature-controlled shipping nationwide.
In February 2021, for small to medium-sized vans and trucks, Ingersoll Rand produced fully electric refrigeration units. The e200 is the ideal all-electric option for trucks that are powered by engines and electricity because it combines control, convenience, use, and reliability in a special way. The e200 offers an appealing solution for final mile deliveries and urban environments by combining control and convenience with low noise and reduced weight.
In March 2021, Carrier Transicold, heating, ventilation, and air conditioning, refrigeration Equipment Company, signed a new strategic partnership with Portuguese technology Company AddVolto. The agreement enabled Carrier to broadly utilize AddVolt's proven, engine-agnostic Technology to develop innovative sustainable transport refrigeration solutions for European customers
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