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The refrigerated transportation market size is forecast to increase by USD 34.68 billion between 2022 and 2027, accelerating at a CAGR of 7.46%. In 2017, China held the largest market share, projecting an annual revenue of USD 11.38 billion. The land segment is poised to dominate the market landscape, commanding a significant share of the growth trajectory during the forecast period. Land transportation stands as a cornerstone for the conveyance of perishable commodities, notably including food and medications, which necessitate precise temperature control measures. Refrigerated trucks and trailers serve as indispensable assets, safeguarding the freshness and integrity of products throughout their transit.
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The report includes a comprehensive outlook on the Market, offering forecasts for the industry segmented by Mode of Transportation which comprises Land, Waterways, and Airways. Additionally, it categorizes Applications into Chilled food and Frozen food and covers Geographical regions, including APAC, North America, Europe, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2017 to 2021, and future projections, all presented in terms of value in (USD billion) for each of the mentioned segments.
APAC is estimated to contribute 43% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. Factors such as expanding food and pharmaceutical industries driving this growth, as is the rising demand for temperature-controlled shipping services. China, India, Japan, South Korea, and Australia are among the APAC countries that are increasing in the construction of cold chain infrastructure and technological improvements in refrigerated transportation. Major manufacturers in the region such as Carrier and Daikin are working on several factors such as boosting their fleet sizes, increasing energy efficiency, and enhancing the visibility and tracking capabilities of the cold chain. Owing to all these factors, the regional market in focus is expected to witness significant demand during the forecast period.
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The market is experiencing robust growth, driven by several key factors and emerging trends. One of the primary drivers is the increasing demand for temperature-controlled logistics, particularly in industries dealing with perishable goods like fresh food, seafood, and pharmaceuticals. This demand is fueled by consumers' growing preference for high-quality, fresh products, which necessitates stringent temperature control measures throughout the supply chain. Cold chain transportation, utilizing refrigerated trucks, reefer containers, and refrigerated rail transport, plays a pivotal role in ensuring the integrity and safety of temperature-sensitive cargo from origin to destination.
Another significant driver is the rise in regulatory standards and requirements governing refrigerated transport. With heightened concerns regarding food safety, pharmaceutical efficacy, and healthcare logistics, regulatory bodies are implementing stricter regulations and standards to ensure compliance and mitigate risks associated with temperature variations during transit. This focus on regulatory compliance is compelling companies operating in the refrigerated transportation market to invest in advanced technologies and solutions to meet these stringent requirements.
Furthermore, there is a growing trend towards optimization and innovation in cold chain logistics. Companies are increasingly adopting technologies such as temperature monitoring systems and transport refrigeration to enhance efficiency, reduce waste, and improve overall supply chain visibility. Cold chain logistics optimization efforts aim to streamline operations, minimize costs, and maximize the quality and freshness of transported goods, driving continuous improvement and innovation in the refrigerated transportation market.
Overall, the market is poised for continued growth as it responds to the increasing demand for temperature-controlled logistics, stricter regulatory standards, and ongoing efforts towards optimization and innovation in cold chain logistics. These drivers and trends are shaping the future of refrigerated transport, ensuring the safe and efficient delivery of perishable goods across various industries.
Owing to the rising consumption of refrigerated foods such as dairy products and frozen foods, the global market is growing. The sales of frozen foods are rising because of the convenience they offer consumers in terms of easy and instant cooking. Moreover, consumers perceive frozen food as an alternative option to fresh, home-cooked, canned food. The convenience offered to consumers by ready-to-eat meals increases the consumption of frozen food. Factors such as busy lifestyles are attracting consumers to consumption of frozen food. Furthermore, rapid urbanization is also driving the growth of the global market. Therefore, the demand for frozen food will drive the global market size during the forecast period.
The land segment will account for a major share of the market's growth during the forecast period. Land transportation is widely used for carrying perishable commodities such as food and medications under temperature control. Refrigerated trucks and trailers ensure the freshness of products while transporting them. Factors such as adaptability, accessibility, and dependability enable direct delivery from manufacturing facilities to distribution centers or retail locations. Land-based refrigerated transportation continues to be an essential component in the global supply chain for perishable products. For instance, players like Knight-Swift Transportation offer refrigerated transportation through the land are investing significantly. Such factors are expected to make the land a preferred mode of transportation which is a major market trend.
The Market is fragmented in nature. Some significant players include Allen Lund Co. and Bernard KRONE Holding SE and Co. KG
The market analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Birkett Freight Solutions, Carrier Global Corp., COSCO SHIPPING Holdings Co. Ltd., Daikin Industries Ltd., Envirotainer AB, Great Dane LLC, Hapag Lloyd AG, Hyundai Motor Co., Knight Swift Transportation Holdings Inc., LAMBERET SAS, Rinac India Ltd., Sartorius AG, Schmitz Cargobull AG, Sdiptech AB, Singamas Container Holdings Ltd., Tata Motors Ltd., Utility Trailer Manufacturing Co., and Wabash National Corp.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2021 - 2027.
The market is a crucial component of the logistics industry, specializing in the transportation of temperature-sensitive goods across various sectors, including food, pharmaceuticals, and healthcare. This market encompasses a wide range of services and technologies dedicated to maintaining precise temperature control throughout the supply chain.
Temperature-controlled logistics, including cold chain transportation and chilled transportation, ensure the safe and efficient delivery of perishable goods, such as fresh foods, dairy products, meats, and seafood. With the growing demand for fresh and high-quality products, refrigerated shipping and refrigerated containers play a vital role in preserving the integrity of these goods during transit.
In addition to food products, the pharmaceutical cold chain relies heavily on refrigerated transportation to maintain the efficacy and safety of temperature-sensitive medications and vaccines. Healthcare logistics also benefit from refrigerated transport, ensuring the safe delivery of medical supplies and specimens.
Refrigerated logistics providers offer specialized services in cold chain management, utilizing reefer trucks, reefer containers, refrigerated rail transport, and refrigerated air transport to cater to diverse transportation needs. Moreover, advancements in refrigeration equipment and temperature monitoring systems enhance the efficiency and reliability of refrigerated transport operations. Despite the numerous benefits, the refrigerated transportation market faces challenges such as strict food safety regulations, complex supply chain requirements, and the need for continuous innovation to optimize cold chain logistics. However, ongoing developments in refrigerated transport solutions and innovations, including controlled atmosphere transport and cold chain monitoring technologies, are addressing these challenges and driving the market forward.
Overall, the market plays a critical role in ensuring the integrity and safety of temperature-sensitive cargo, and it is poised for continued growth as demand for perishable goods and stringent quality standards persist in various industries. Frozen transportation and perishable goods logistics play critical roles in ensuring the safe and efficient delivery of temperature-sensitive products to consumers. Fresh food logistics and cold storage logistics are integral components of this process, facilitating the preservation of product quality from farm to table. Refrigerated warehousing and temperature-controlled distribution systems are essential for maintaining the integrity of perishable goods throughout the supply chain. This includes refrigerated cargo and refrigerated freight services, which utilize specialized vehicles and containers to transport items such as frozen food, dairy, meat, and seafood.
In maritime transportation, refrigerated cargo ships play a crucial role in international trade, enabling the global distribution of perishable goods. The refrigerated supply chain relies on advanced refrigerated logistics technology to monitor temperature conditions and ensure compliance with food safety regulations. As the industry evolves, emerging refrigerated logistics trends are shaping the future of cold chain management. However, challenges such as maintaining refrigerated transport standards and navigating refrigerated transport regulations remain significant considerations for logistics providers. In summary, the field of refrigerated transport is vital for preserving the quality and safety of perishable goods, and ongoing innovation and adherence to industry standards are essential for its continued success.
Market Scope |
|
Report Coverage |
Details |
Page number |
153 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.46% |
Market growth 2023-2027 |
USD 34.68 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.01 |
Regional refrigerated transportation market analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 43% |
Key countries |
US, Canada, China, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Allen Lund Co., Bernard KRONE Holding SE and Co. KG, Birkett Freight Solutions, Carrier Global Corp., COSCO SHIPPING Holdings Co. Ltd., Daikin Industries Ltd., Envirotainer AB, Great Dane LLC, Hapag Lloyd AG, Hyundai Motor Co., Knight Swift Transportation Holdings Inc., LAMBERET SAS, Rinac India Ltd., Sartorius AG, Schmitz Cargobull AG, Sdiptech AB, Singamas Container Holdings Ltd., Tata Motors Ltd., Utility Trailer Manufacturing Co., and Wabash National Corp. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Mode of Transportation
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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