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Global Refrigerated Truck Market By Vehicle Type (Light commercial vehicle, Medium-Heavy Commercial Vehicles, and Heavy Commercial Vehicles), By Temperature (Single and Multi-temperature), By Technology (Vapor Compression Systems and Cryogenic Systems), By Application (Foodstuffs, milled grain products, meats products, agriculture products, alcoholic beverages, pharmaceuticals, and Others), and By Region (North America, Europe, Asia Pacific, South America, Middle East, and Africa)
Global Refrigerated Truck Market Overview:
Global Refrigerated Truck Market is estimated to reach USD 6.3 billion by 2030 with growth at a CAGR 6.0 %during during the forecast period of 2022 to 2030 and it was valued at USD 3.5 billion by 2022. The Refrigerated truck or reefer truck refers to a refrigerated transport vehicle used to transport the goods and maintain the temperature of frozen or fresh products. The refrigerated trucks are equipped with a refrigeration unit and a polyurethane heat insulation box with carrying capacity and compartment type. Refrigerated trucks or refrigerated transportation often used to transport frozen foods (frozen trucks), dairy products (dairy trucks), vegetables and fruits (fresh trucks), vaccines and drugs (vaccine trucks), etc. Thermal insulation refrigerated trucks, broadly referred to as special vehicles for the transportation of perishable goods, are the primary tools for refrigerated road transportation. These refrigerated and insulated vehicles have become an indispensable means of transportation in human life as they help in maintaining the original quality until the delivery of perishable goods. Cold chain logistics has become a concept in the transportation industry. In cold chain logistics, the key equipment is the truck refrigeration system, which is the key to ensure safety of perishable goods and fresh food during transportation. At present, the refrigerated transport rate in developed countries is more than 50%, and even in countries such as Japan, the United States, and countries in Western Europe, it is as high as 80% to 90%.Global Refrigerated Truck Market Insights
The rising demand for chilled & frozen products, especially in the developing countries estimated to drive the global refrigerated trucks market in the upcoming periods. Additionally, the trend of fragmentation of orders, cross-regional cold chain load, and increased intra-city distribution demand affected the demand of the global refrigerated market in the estimated period. Moreover, the growing demand for online grocery shopping has driven the market for global multi-temperature refrigerated trucks and trailers market. According to ATA’s Freight Transportation in the USA, freight volumes projected to increase by 35.6% and reach 21.7 billion tons by 2029 from 4.2% with 16 billion tons in 2018. Additionally, the growing consumer demand and the rise in spending power among consumers are boosting the demand for food & beverages, which in turn is accelerating the global refrigerated truck market. Further, the increase in the total output and transportation of meat, frozen foods, cold drinks, dairy products, aquatic products, vegetables, and fresh fruit, will result in the demand for refrigerated trucks across the globe. Furthermore, the growing trend of doorstep and last-mile delivery of groceries and frozen food will augment the global refrigerated truck market in the estimated periods.Growth Driver
Increasing International Trade of Perishable Commodities
With the increasing number of types of cargo storage and transportation, some cargos are susceptible to external temperature, humidity, and other conditions during storage and transportation and may rot. To maintain the original quality of perishable goods, refrigerated and insulated trucks have become an indispensable means of transportation in human life. The demand for refrigerated trucks is continuously expanding. The food field mainly includes the transportation of aquatic products, perishable food, frozen food, fruits, etc. in the medical and health field; to ensure the safe transportation and storage of medicines, the demand for refrigerated trucks has increased.Growing demand for ready-to-eat food items, fresh vegetables, and dairy products across the globe
The growing demand for frozen food has propelled suppliers to equip their refrigerated units with thermal liners, computer controls, and multi-temperature systems to keep the food at the required temperature during transportation. The rapid move towards sustainable refrigeration units to reduce environmental impact and carbon footprint refrigeration, which will be another significant growth driver for the overall market in the coming years.Growth of e-commerce portals
The advent of e-commerce portals delivering dairy, meat, and groceries has boosted the refrigerated truck market. With the surge in grocery shopping via e-commerce platforms, several vehicles carrying different types of groceries, which need different temperatures for storage, are rising. In turn, it is creating a demand for refrigeration transport services and truck refrigeration systems.Vehicle Type Segmental Analysis
Based on vehicle type, the global Refrigerated Truck Market categorized into Light commercial vehicles, Medium-Heavy Commercial Vehicles, and Heavy Commercial Vehicles. The Medium-Heavy Commercial Vehicle segment estimated to generate maximum revenue by 2030. It is owing to the growing demand for home delivery services and developments in the foodservice industry and food processing sector. The Light commercial vehicle segment grows by huge demand by Small & Medium Enterprises for last-mile transport.Temperature Segmental Analysis
Based on temperature, the Global Refrigerated Truck Market bifurcated into Single and Multi-temperature. The Multi-temperature segment accounted for a notable share by 2030 due to the multiple temperature zones that can control the temperature in the cargo compartment such as the host + Temperature sensor + GPS positioning, and perform one-way or two-way communication with the refrigeration unit. Single temperature segment drives by the growing usage of refrigerated trucks for the same goods of transport.Technology Segmental Analysis
Based on technology, the Global Refrigerated Truck Market bifurcated into Vapor Compression Systems and Cryogenic Systems. The Vapor Compression Systems segment expected to lead the market attributable to their usage for chilled or frozen storage of foods and meats. It includes Air-Blown Evaporators and Eutectic Devices. Cryogenic Systems will propel by its advantages, which provides an eco-friendly solution for the transportation of perishable chilled and frozen food, based on the use of liquid nitrogen (LIN) as the refrigerant.Application Segmental Analysis
Based on the application, the Global Refrigerated Truck Market classified into Foodstuffs, milled grain products, meats products, agriculture products, alcoholic beverages, pharmaceuticals, and others. The foodstuffs segment accounted for a prominent share by 2030 due to usages for cold chain transport of perishable food products. Additionally, growing demand for frozen and canned food options which have led to an increasing preference for home delivery services. The pharmaceutical segment will boost by the drugs that are sensitive to temperature are necessarily transported by refrigerated trucks.Region Segmental Analysis
Based on geography, the global Refrigerated Truck market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia pacific attributed to generating maximum revenue by 2030 owing to the improvement of social living standards, changing lifestyle, growing people’s demand for frozen food, fresh food, milk, flowers, etc. North America will boom by continued economic growth along with a strong demand for truck services and large volumes for shipments traveling.Supply Chain Transformation Analysis
In the entire supply chain process, the motive is to either eliminate or remove the wastage. However, there are several factors responsible for the present 30%–40% loss witnessed in the process, which includes improper post-harvest handling and storage, unsuitable harvesting practices, improper packaging, inappropriate handling during transportation and storage, etc. In the processed foods supply chain, the key is to maximize efficiencies by implementing efficient distribution networks. A large number of factors influencing the performance of refrigerated transportation are: Global – The specialization of agricultural functions permitting the transport of temperature-sensitive food products to distant markets. It enables the distribution of vaccines and other pharmaceutical or biological products from single large facilities to any market around the world. Regional – The refrigerated truck supports help for large cold storage facilities servicing regional grocery markets. Local – The real-time distribution to the final consumer of perishables goods through grocery stores and restaurants.Competitor Analysis
Companies such as Kogel Trailer GmbH & Co, Hyundai Translead Inc., Wabash National Corporation, KRONE, GRW Tankers, and Trailers, Schmitz Cargobull AG, Great Dane LLC, and China International Marine Containers (Group) are the key players in the Global Refrigerated Truck Market.Key Stakeholders
- Market research and consulting firms
- Industry associations
- Global Refrigerated Truck Manufacturing Companies
- Research organizations and consulting companies
- Organizations, associations, and alliances related to Refrigerated Truck
- Regulatory bodies
- Suppliers
- Retailers
Recent Developments
- July 2022: KLLM Transport Services (the temperature-controlled truckload carrier in the United States) acquired Quest Global Inc., a refrigerated 200-truck carrier in Cartersville, Georgia. This acquisition may enhance the company’s premium service offerings with expedited, temperature-controlled shipping nationwide.
- August 2022: Locomotion (an autonomous trucking company) signed a new eight-year agreement with Stevens Trucking (the temperature-controlled trucking company) to optimize autonomous vehicle routes near Oklahoma. Stevens plans to deploy up to 500 trucks equipped with Locomation’s Autonomous Relay Convoy (ARC) systems.
The objective of the Research
- Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
- Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
- Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
- Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
- The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.
Market Modelling
By Vehicle Type- Light commercial vehicle
- Medium Heavy Commercial Vehicles
- Heavy Commercial Vehicles
- Single Temperature
- Multi-temperature
- Vapor Compression Systems
- Cryogenic Systems
- Foodstuffs
- Milled grain products
- Meats products
- Agriculture products
- Alcoholic beverages
- Pharmaceuticals
- Others
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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Report Content
- Research Strategic Development
1.1. Market Modelling
1.2. Product Analysis
1.3. Market Trend and Economic Factors Analysis
1.4. Market Segmental Analysis
1.5. Geographical Mapping
1.6. Country Wise Segregation
- Research Methodology
2.1. Identification of Target Market
2.2. Data Acquisition
2.3. Refining of Data/ Data Transformations
2.4. Data Validation through Primary Techniques
2.5. Exploratory Data Analysis
2.6. Graphical Techniques/Analysis
2.7. Quantitative Techniques/Analysis
2.8. Visual Result/Presentation
- Executive Summary
- Market Insights
4.1. Supply Chain Analysis
4.2. Economic Factor Analysis
4.2.1. Drivers
4.2.2. Trends
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape
4.4. Competitors & Product Analysis
4.5. Regulatory Framework
4.6. Company market share analysis, 2022
4.7. Porter’s Five Forces Analysis
4.8. Price point analysis
4.9. New Investment Analysis
4.10.PESTEL Analysis
4.11.Pre Covid-19 Impact
4.12.Covid-19 Impact
4.13.Post Covid-19 Impact
- Global Refrigerated Truck Market, 2017-2030
5.1. Market size & Forecast, 2017-2030
5.1.1. Demand
5.1.1.1. By Value (USD Billion)
5.1.2. Consumption
5.1.2.1. By Volume (Number of Units)
5.1.3. Supply/Production
5.1.3.1. By Volume (Number of Units)
5.2. Market Share & Forecast, 2017-2030
5.2.1. By Vehicle Type
5.2.1.1. Light commercial Vehicle
5.2.1.2. Medium-Heavy Commercial Vehicles
5.2.1.3. Heavy Commercial Vehicles
5.2.2. By Temperature
5.2.2.1. Single Temperature
5.2.2.2. Multi-temperature
5.2.3. By Technology
5.2.3.1. Vapor Compression Systems
5.2.3.2. Cryogenic Systems
5.2.4. By Application
5.2.4.1. Foodstuffs
5.2.4.2. Milled grain products
5.2.4.3. Meats products
5.2.4.4. Agriculture Products
5.2.4.5. Alcoholic beverages
5.2.4.6. Pharmaceuticals
5.2.4.7. Others
5.2.5. By Region
5.2.5.1. North America
5.2.5.2. Europe
5.2.5.3. Asia Pacific
5.2.5.4. The Middle East & Africa
5.2.5.5. South America
- North America Refrigerated Truck Market, 2017-2030
6.1. North America Refrigerated Truck Market size & Forecast, 2017-2030
6.1.1. Demand
6.1.1.1. By Value (USD Billion)
6.1.2. Consumption
6.1.2.1. By Volume (Number of Units)
6.1.3. Supply/Production
6.1.3.1. By Volume (Number of Units)
6.2. North America Refrigerated Truck Market Share & Forecast, 2017-2030
6.2.1. By Vehicle Type
6.2.1.1. Light commercial Vehicle
6.2.1.2. Medium-Heavy Commercial Vehicles
6.2.1.3. Heavy Commercial Vehicles
6.2.2. By Temperature
6.2.2.1. Single Temperature
6.2.2.2. Multi-temperature
6.2.3. By Technology
6.2.3.1. Vapor Compression Systems
6.2.3.2. Cryogenic Systems
6.2.4. By Application
6.2.4.1. Foodstuffs
6.2.4.2. Milled grain products
6.2.4.3. Meats products
6.2.4.4. Agriculture Products
6.2.4.5. Alcoholic beverages
6.2.4.6. Pharmaceuticals
6.2.4.7. Others
6.2.5. By Country
6.2.5.1. US
6.2.5.2. Canada
6.2.5.3. Mexico
6.2.6. By Price Point Analysis
6.2.7. Company Market Share (Top 3-5)
6.2.8. Manufacturer & Distributor List (Top 5)
6.2.9. Economic Impact Study on North America Refrigerated Truck Market
- Europe Refrigerated Truck Market, 2017-2030
7.1. Europe Refrigerated Truck Market size & Forecast, 2017-2030
7.1.1. Demand
7.1.1.1. By Value (USD Billion)
7.1.2. Consumption
7.1.2.1. By Volume (Number of Units)
7.1.3. Supply/Production
7.1.3.1. By Volume (Number of Units)
7.2. Europe Refrigerated Truck Market Share & Forecast, 2017-2030
7.2.1. By Vehicle Type
7.2.1.1. Light commercial Vehicle
7.2.1.2. Medium-Heavy Commercial Vehicles
7.2.1.3. Heavy Commercial Vehicles
7.2.2. By Temperature
7.2.2.1. Single Temperature
7.2.2.2. Multi-temperature
7.2.3. By Technology
7.2.3.1. Vapor Compression Systems
7.2.3.2. Cryogenic Systems
7.2.4. By Application
7.2.4.1. Foodstuffs
7.2.4.2. Milled grain products
7.2.4.3. Meats products
7.2.4.4. Agriculture Products
7.2.4.5. Alcoholic beverages
7.2.4.6. Pharmaceuticals
7.2.4.7. Others
7.2.5. By Country
7.2.5.1. Germany
7.2.5.2. UK
7.2.5.3. France
7.2.5.4. Italy
7.2.5.5. Rest of Europe
7.2.6. By Price Point Analysis
7.2.7. Company Market Share (Top 3-5)
7.2.8. Manufacturer & Distributor List (Top 5)
7.2.9. Economic Impact Study on Europe Refrigerated Truck Market
- Asia Pacific Refrigerated Truck Market, 2017-2030
8.1. Asia Pacific Refrigerated Truck Market size & Forecast, 2017-2030
8.1.1. Demand
8.1.1.1. By Value (USD Billion)
8.1.2. Consumption
8.1.2.1. By Volume (Number of Units)
8.1.3. Supply/Production
8.1.3.1. By Volume (Number of Units)
8.2. Asia Pacific Refrigerated Truck Market Share & Forecast, 2017-2030
8.2.1. By Vehicle Type
8.2.1.1. Light commercial Vehicle
8.2.1.2. Medium-Heavy Commercial Vehicles
8.2.1.3. Heavy Commercial Vehicles
8.2.2. By Temperature
8.2.2.1. Single Temperature
8.2.2.2. Multi-temperature
8.2.3. By Technology
8.2.3.1. Vapor Compression Systems
8.2.3.2. Cryogenic Systems
8.2.4. By Application
8.2.4.1. Foodstuffs
8.2.4.2. Milled grain products
8.2.4.3. Meats products
8.2.4.4. Agriculture Products
8.2.4.5. Alcoholic beverages
8.2.4.6. Pharmaceuticals
8.2.4.7. Others
8.2.5. By Country
8.2.5.1. China
8.2.5.2. India
8.2.5.3. Japan
8.2.5.4. Australia
8.2.5.5. Rest of Asia pacific
8.2.6. By Price Point Analysis
8.2.7. Company Market Share (Top 3-5)
8.2.8. Manufacturer & Distributor List (Top 5)
8.2.9. Economic Impact Study on Asia-Pacific Refrigerated Truck Market
- The Middle East & Africa Refrigerated Truck Market, 2017-2030
9.1. The Middle East & Africa Refrigerated Truck Market size & Forecast, 2017-2030
9.1.1. Demand
9.1.1.1. By Value (USD Billion)
9.1.2. Consumption
9.1.2.1. By Volume (Number of Units)
9.1.3. Supply/Production
9.1.3.1. By Volume (Number of Units)
9.2. The Middle East & Africa Refrigerated Truck Market Share & Forecast, 2017-2030
9.2.1. By Vehicle Type
9.2.1.1. Light commercial Vehicle
9.2.1.2. Medium-Heavy Commercial Vehicles
9.2.1.3. Heavy Commercial Vehicles
9.2.2. By Temperature
9.2.2.1. Single Temperature
9.2.2.2. Multi-temperature
9.2.3. By Technology
9.2.3.1. Vapor Compression Systems
9.2.3.2. Cryogenic Systems
9.2.4. By Application
9.2.4.1. Foodstuffs
9.2.4.2. Milled grain products
9.2.4.3. Meats products
9.2.4.4. Agriculture Products
9.2.4.5. Alcoholic beverages
9.2.4.6. Pharmaceuticals
9.2.4.7. Others
9.2.5. By Country
9.2.5.1. Saudi Arabia
9.2.5.2. UAE
9.2.5.3. South Africa
9.2.5.4. Rest of The Middle East & Africa
9.2.6. By Price Point Analysis
9.2.7. Company Market Share (Top 3-5)
9.2.8. Manufacturer & Distributor List (Top 5)
9.2.9. Economic Impact Study on The Middle East & Africa Refrigerated Truck Market
- South America Refrigerated Truck Market, 2017-2030
10.1. South America Refrigerated Truck Market size & Forecast, 2017-2030
10.1.1. Demand
10.1.1.1. By Value (USD Billion)
10.1.2. Consumption
10.1.2.1. By Volume (Number of Units)
10.1.3. Supply/Production
10.1.3.1. By Volume (Number of Units)
10.2. South America Refrigerated Truck Market Share & Forecast, 2017-2030
10.2.1. By Vehicle Type
10.2.1.1. Light commercial Vehicle
10.2.1.2. Medium-Heavy Commercial Vehicles
10.2.1.3. Heavy Commercial Vehicles
10.2.2. By Temperature
10.2.2.1. Single Temperature
10.2.2.2. Multi-temperature
10.2.3. By Technology
10.2.3.1. Vapor Compression Systems
10.2.3.2. Cryogenic Systems
10.2.4. By Application
10.2.4.1. Foodstuffs
10.2.4.2. Milled grain products
10.2.4.3. Meats products
10.2.4.4. Agriculture Products
10.2.4.5. Alcoholic beverages
10.2.4.6. Pharmaceuticals
10.2.4.7. Others
10.2.5. By Country
10.2.5.1. Brazil
10.2.5.2. Argentina
10.2.5.3. Rest of South America
10.2.6. By Price Point Analysis
10.2.7. Company Market Share (Top 3-5)
10.2.8. Manufacturer & Distributor List (Top 5)
10.2.9. Economic Impact Study on South America Refrigerated Truck Market
- Competitor Analysis
11.1. Company Description
11.2. Financial Analysis
11.3. Key Products
11.4. Key Management Personnel
11.5. Contact Address
11.6. SWOT Analysis
11.7. Company profile
11.7.1. Kogel Trailer GmbH & Co
11.7.2. Hyundai Translead Inc.
11.7.3. Wabash National Corporation
11.7.4. KRONE
11.7.5. GRW Tankers and Trailers
11.7.6. Schmitz Cargobull AG
11.7.7. Great Dane LLC
11.7.8. China International Marine Containers (Group)
11.7.9. Other Prominent Players
Frequently Asked Question(FAQ)
Global Refrigerated Truck Market is estimated to reach USD 6.3 billion by 2030 with growth at a CAGR 6.0 %during during the forecast period of 2022 to 2030 and it was valued at USD 3.5 billion by 2022.
The growing demand for frozen food has propelled suppliers to equip their refrigerated units with thermal liners, computer controls, and multi-temperature systems to keep the food at the required temperature during transportation.
Companies such as Kogel Trailer GmbH & Co, Hyundai Translead Inc., Wabash National Corporation, KRONE, GRW Tankers, and Trailers, Schmitz Cargobull AG, Great Dane LLC, and China International Marine Containers (Group) are the key players in the Global Refrigerated Truck Market.
The Asia pacific attributed to generating maximum revenue by 2030.
