Global Refrigerated Transport Market By Mode (Road (Refrigerated LCV, Refrigerated MHCV and Refrigerated HCV), Sea, Rail and Air), By Product Type (Chilled and Frozen), By Technology (Vapor Compression Systems and Cryogenic Systems), By Temperature (Single Temperature and Multi Temperature), By Company, By Region, Forecast & Opportunities, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 122.13 Billion
CAGR (2026-2031)	8.51%
Fastest Growing Segment	Multi Temperature
Largest Market	Asia Pacific
Market Size (2031)	USD 199.36 Billion

Market Overview

The Global Refrigerated Transport Market will grow from USD 122.13 Billion in 2025 to USD 199.36 Billion by 2031 at a 8.51% CAGR. Refrigerated transport encompasses the strategic logistics and conveyance of temperature-sensitive commodities, such as perishable foods, medical supplies, and chemicals, utilizing climate-controlled vehicles including reefer trucks, vessels, and air cargo units. The market’s expansion is fundamentally anchored by the expanding globalization of food supply chains, which necessitates the long-distance movement of fresh produce, and the critical requirements of the pharmaceutical industry for transporting biologics and vaccines. These core drivers ensure sustained demand for reliable temperature assurance, distinct from transient technological shifts in the logistics sector.

However, the industry faces a significant challenge regarding the high capital and operational expenditures associated with maintaining energy-intensive refrigeration units and ensuring regulatory compliance. These financial pressures, compounded by volatile fuel costs, can impede the rapid modernization of fleets required to service growing volumes. Illustrating the sector's continued infrastructure investment despite these hurdles, according to the Global Cold Chain Alliance, in 2025, the total temperature-controlled capacity operated by its global membership reached 8.16 billion cubic feet, reflecting an increase of more than 10 percent from the previous year.

Key Market Drivers

The Global Refrigerated Transport Market is being propelled significantly by the surging global demand for frozen and perishable food products, driven by changing consumer lifestyles and the necessity for year-round availability of seasonal produce. This trend forces logistics providers to expand their capacity for temperature-sensitive cargoes, ensuring the integrity of goods across complex international supply chains. Illustrating the scale of this operational expansion, according to Hapag-Lloyd, January 2025, in its preliminary business figures for 2024, the company reported a transport volume increase of roughly 5 percent to 12.5 million TEU, supported by its deployment of one of the world's largest and most modern fleets of reefer containers. Such volume growth highlights the critical role of robust maritime infrastructure in satisfying the escalating consumption of fresh and frozen commodities globally.

Another primary driver is the rapid expansion of pharmaceutical and healthcare cold chain logistics, which demands increasingly sophisticated temperature control for biologics, vaccines, and personalized medicines. This sector's requirements go beyond simple cooling, necessitating precise, traceable, and compliant transport solutions to prevent spoilage of high-value life sciences products. The intensity of this demand is evident in air freight data; according to United Cargo, January 2025, the carrier transported nearly 1.3 billion pounds of cargo in 2024, which included approximately 43 million pounds of specific medical shipments. This surge contributes to the overall buoyancy of the cargo sector, as further evidenced by the International Air Transport Association, January 2025, which reported that global air cargo demand for the full year 2024 increased by 11.3 percent compared to the previous year, exceeding record volumes set in 2021.

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Key Market Challenges

High capital and operational expenditures constitute a critical bottleneck for the Global Refrigerated Transport Market. The substantial investment required to acquire specialized climate-controlled vehicles and maintain energy-intensive refrigeration units creates significant financial barriers. These costs are compounded by strict regulatory compliance requirements and volatile fuel prices, which squeeze profit margins and discourage new market entrants. When carriers face such elevated financial pressures, they are often forced to defer fleet modernization or expansion, directly limiting the available capacity needed to service growing global food and pharmaceutical supply chains.

This financial strain is quantifiable through recent industry analysis regarding rising fleet expenses. According to the American Transportation Research Institute, in 2025, non-fuel marginal costs for motor carriers reached a record high of $1.779 per mile, driven largely by an 8.3 percent increase in truck and trailer lease or purchase payments compared to the previous year. This escalation in equipment and operating costs directly hampers the ability of logistics providers to scale their operations, thereby stalling the broader market's ability to meet increasing demand volume efficiently.

Key Market Trends

The electrification of refrigerated transport fleets is emerging as a critical strategy to decarbonize logistics and comply with stringent emission regulations. Companies are increasingly deploying electric transport refrigeration units (eTRUs) and axle-based energy recovery systems to eliminate reliance on diesel-powered auxiliary engines. This transition is supported by advancements in battery technology that allow units to maintain temperature control autonomously during breaks or delivery stops. According to Thermo King, September 2024, in the 'Thermo King Leads the Charge in Electrifying the Cold Chain Industry' announcement, its AxlePower energy recovery system was reported to reduce carbon emissions by up to 12 tonnes per year for distribution trailers, demonstrating the significant environmental impact of these technologies.

The development of smart containers with active temperature management systems is transforming the efficiency of global cold chains by integrating real-time monitoring with autonomous climate control. These advanced units utilize algorithms to optimize compressor speed and energy usage based on ambient conditions and cargo requirements, significantly lowering operational costs. Beyond simple tracking, these systems proactively adjust internal environments to prevent spoilage and extend shelf life during long-haul maritime or intermodal transit. According to Carrier Transicold, November 2024, in the 'Future-Ready Cold Chain Solutions at Intermodal Europe 2024' press release, the new OptimaLINE container refrigeration unit was stated to lower annual energy costs by up to 15 percent compared to competitor units, highlighting the financial benefits of intelligent cold chain solutions.

Segmental Insights

The Multi Temperature segment is currently positioning itself as the fastest growing category in the Global Refrigerated Transport Market. This trajectory is primarily driven by the need for operational efficiency, as these systems allow the simultaneous distribution of frozen and chilled goods within a single vehicle. This consolidation maximizes load capacity and effectively reduces transportation frequency. Furthermore, strict adherence to safety protocols established by regulatory entities such as the FDA mandates precise climate control for diverse products, compelling logistics providers to adopt multi-temperature solutions to ensure compliance and inventory integrity.

Regional Insights

Asia Pacific holds the leading position in the Global Refrigerated Transport Market, driven by rapid urbanization and increasing disposable incomes across the region. This demographic evolution has shifted consumer preferences toward fresh and frozen perishable goods, necessitating reliable cold chain solutions. The market is further propelled by the robust expansion of online grocery platforms and e-commerce, which demand efficient last-mile delivery networks. Additionally, the region serves as a major hub for pharmaceutical manufacturing, requiring stringent temperature monitoring for vaccines and biologics. Government initiatives focused on improving cold chain infrastructure and food safety standards continue to support this regional dominance.

Recent Developments

• In July 2025, Carrier Transicold expanded its Supra High Efficiency (HE) range of truck-mounted refrigeration units with the commercial launch of the Supra HE 11 Multi-Temperature (MT) and HE 13 MT models. These new systems were engineered to offer enhanced fuel efficiency and operational flexibility for rigid trucks, supporting dual and triple-compartment configurations for mixed cargo. The company reported that the units featured a significant increase in evaporator airflow capacity compared to previous models, ensuring consistent temperature control throughout the vehicle's interior. The launch addressed the market's need for high-performance sustainable solutions capable of operating reliably in extreme ambient conditions ranging from minus 30 degrees Celsius to 55 degrees Celsius.
• In September 2024, Krone showcased a Cool Liner refrigerated semi-trailer equipped with the ZF Electrified Trailer System at the IAA Transportation event in Hanover. This innovative technology was designed to hybridize semi-trailers pulled by diesel trucks while also extending the range of fully electric heavy-duty vehicle combinations. The system featured an electric axle drive and a battery pack that recovered braking energy, which could then be used to power the trailer's refrigeration unit or assist the tractor during acceleration. Management at Krone emphasized that this development represented a significant step toward the electrification of the transport sector, offering fleet operators a practical solution to reduce fuel consumption and carbon emissions.
• In June 2024, Mitsubishi Heavy Industries Thermal Systems, Ltd. launched the TEK series of electric-driven transport refrigeration units designed specifically for small and mid-size trucks. The new product line featured a plug-in hybrid system that could automatically switch between utilizing a commercial plug-in power source and the vehicle's battery, depending on the operating status. This innovation allowed the refrigeration unit to maintain precise cargo temperatures even when the vehicle was parked or idling, significantly reducing the driver's workload. The company highlighted that the compact design and enhanced heating and cooling capacities of the TEK series were developed to meet the growing demand for versatile and energy-efficient delivery solutions in the cold chain logistics sector.
• In May 2024, Thermo King announced a strategic collaboration with Range Energy to accelerate the commercial adoption of electric refrigerated trailers across the Americas. The partnership focused on integrating Range Energy’s electric trailer platform with Thermo King’s hybrid and fully electric trailer refrigeration units to create a more efficient and sustainable transport solution. Executives from both companies stated that the initiative aimed to align with the industry's push toward decarbonization by providing fleet owners with reliable technology to meet emerging emission reduction mandates. The collaboration included extensive testing and customer pilots to validate the performance of the integrated system in real-world operating conditions, ensuring cargo safety and operational efficiency.

Key Market Players

• Carrier Transicold
• Ingersoll Rand PLC
• China International Marine Containers
• Lamberet SAS
• Schmitz Cargobull AG
• Wabash National Corporation
• Hyundai Motor Company
• Utility Trailer Manufacturing Company
• Daikin Industries Ltd
• Singamas Container Holdings Ltd

By Mode	By Product Type	By Technology	By Temperature	By Region
Road (Refrigerated LCV, Refrigerated MHCV and Refrigerated HCV) Sea Rail and Air	Chilled and Frozen	Vapor Compression Systems and Cryogenic Systems	Single Temperature and Multi Temperature	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Refrigerated Transport Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Refrigerated Transport Market, By Mode:

• Road (Refrigerated LCV, Refrigerated MHCV and Refrigerated HCV)
• Sea
• Rail and Air

• Refrigerated Transport Market, By Product Type:

• Chilled and Frozen

• Refrigerated Transport Market, By Technology:

• Vapor Compression Systems and Cryogenic Systems

• Refrigerated Transport Market, By Temperature:

• Single Temperature and Multi Temperature

• Refrigerated Transport Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE