Refrigerated Truck Rental Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Truck Type (Light (Upto 7.5t), Medium (7.5t to 14t), Heavy (More than 14t)), By Rental Type (Short Term, Long Term), By Region & Competition, 2020-2030F

Market Overview:

Global Refrigerated Truck Rental Market was valued at USD 124.78 Billion in 2024 and is expected to reach USD 203.57 Billion by 2030 with a CAGR of 8.50% during the forecast period. The Global Refrigerated Truck Rental market is witnessing steady growth driven by the rising demand for temperature-controlled transportation solutions across food, pharmaceuticals, and perishable goods industries. Growth is fueled by the increasing consumption of fresh and frozen foods, expansion of e-commerce platforms requiring cold chain logistics, and rising awareness of food safety standards, which push businesses to adopt reliable refrigerated transport. Technological advancements in truck design, including improved insulation, fuel efficiency, and real-time temperature monitoring, enhance operational efficiency and customer confidence.

Market Drivers

Increasing Demand for Cold Chain Logistics

The growing need for cold chain logistics is a key driver of the refrigerated truck rental market. Industries such as food and beverages, pharmaceuticals, and biotechnology rely heavily on temperature-controlled transport to maintain the quality and safety of their products. The expansion of grocery delivery services, online food ordering platforms, and e-commerce for fresh and frozen goods has amplified the requirement for reliable refrigerated transportation. Businesses are increasingly opting for rented refrigerated trucks to manage peak demand, seasonal fluctuations, and last-mile delivery challenges without investing heavily in fleet ownership. For instance, around 70% of food industry product costs are tied to logistics, while roughly 80% of pharmaceuticals require temperature-controlled transport. Cold chain pharmaceutical sales, including insulin, are increasing at 7.1% annually, with biologics, vaccines, and personalized medicines fueling growth. Shifts in consumer habits toward online grocery, fresh produce, and organic food, alongside stricter safety regulations, further accelerate demand. 

Growth of Perishable Goods Market

The expansion of the perishable goods market, including fresh produce, dairy, meat, seafood, and frozen foods, significantly contributes to refrigerated truck rentals. Businesses handling perishable goods face strict timelines and temperature requirements to prevent spoilage, making specialized refrigerated vehicles essential. Seasonal demand variations and unpredictable order volumes push companies to prefer rental fleets over ownership, as they offer flexibility and reduce capital expenditure. Rental trucks equipped with modern refrigeration technology, GPS tracking, and real-time temperature monitoring ensure compliance with stringent quality and safety standards. Rapid growth in organized retail chains, food service providers, and meal kit delivery businesses further increases the frequency and scale of cold chain transport requirements. For instance, a growing shift toward environmentally conscious consumption is evident, with 55% of global consumers preferring packaged foods featuring sustainability claims. The preference is stronger in Brazil (74%), India (67%), and Mexico (66%), reflecting heightened awareness of eco-friendly sourcing and packaging.

Rising E-commerce Food Deliveries

The surge in e-commerce-driven food and grocery deliveries is creating a high demand for refrigerated truck rentals. Consumers are increasingly relying on online platforms for fresh and frozen products, requiring logistics providers to ensure temperature-controlled transport from warehouses to last-mile delivery points. Rental fleets offer scalable solutions for fluctuating order volumes, helping companies meet peak demand without investing in permanent vehicles. Modern rental trucks feature energy-efficient refrigeration units, insulation technologies, and telematics systems, which allow real-time tracking and monitoring of temperature-sensitive deliveries. The growing importance of speed and quality in online food delivery services reinforces the need for flexible, reliable refrigerated transportation. Companies can expand delivery coverage, maintain product freshness, and comply with regulatory standards without incurring significant capital expenditure.

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Key Market Challenges

High Operational and Maintenance Costs

High operational and maintenance costs pose a major challenge for the refrigerated truck rental market. Refrigerated vehicles require specialized components, including refrigeration units, insulated cargo compartments, and temperature-monitoring systems, which increase maintenance complexity and expense. Regular servicing and repair of refrigeration systems are necessary to prevent equipment failure and product spoilage, adding to operational costs for rental providers. Fuel consumption is also higher than standard trucks due to the energy required for refrigeration, impacting profitability and pricing models. Companies renting vehicles must factor in higher operating costs, which can limit adoption among small and medium enterprises. Maintaining a well-functioning fleet requires continuous investment in maintenance infrastructure, skilled technicians, and replacement parts.

Regulatory Compliance and Environmental Standards

Stringent regulatory requirements for vehicle emissions, refrigerated transport standards, and food safety present challenges for the refrigerated truck rental market. Rental providers must comply with national and international regulations regarding refrigerant usage, emission norms, and temperature-controlled logistics practices. Failure to adhere to these standards can result in fines, legal liabilities, and reputational damage. Environmental regulations are increasingly demanding the adoption of energy-efficient refrigeration systems, low-emission engines, and sustainable operational practices. Compliance necessitates ongoing investment in fleet upgrades, training, and monitoring, which can strain financial resources. Companies must also ensure that rental vehicles meet specific hygiene and temperature compliance standards for transporting perishable goods.

Key Market Trends

Integration of IoT and Telematics

The adoption of IoT and telematics solutions in refrigerated truck rentals is transforming fleet management and operational efficiency. Sensors and real-time monitoring systems track temperature, humidity, vehicle location, and engine performance, enabling proactive interventions to prevent spoilage and mechanical failure. Fleet operators can optimize delivery routes, monitor driver behavior, and reduce fuel consumption, improving both cost efficiency and sustainability. Predictive maintenance features powered by data analytics allow providers to schedule servicing before breakdowns occur, reducing downtime and enhancing reliability. Integration of telematics also ensures compliance with regulatory standards, as detailed logs of temperature and transport conditions can be maintained for audits and certifications. This technology-driven approach improves transparency and customer confidence while enabling scalable and flexible rental operations.

Adoption of Eco-Friendly Refrigeration Systems

Sustainability is becoming a central trend in refrigerated truck rentals, with providers increasingly investing in eco-friendly refrigeration systems. Electric and hybrid refrigeration units reduce greenhouse gas emissions, noise pollution, and fuel consumption, aligning with global environmental targets. Companies are adopting hydrofluoroolefin (HFO)-based refrigerants with low global warming potential to replace traditional hydrofluorocarbon systems. These advancements not only ensure compliance with environmental regulations but also appeal to eco-conscious clients and investors. Energy-efficient insulation and smart cooling technologies help optimize refrigeration performance, lowering operational costs while reducing environmental impact. Fleet operators integrating green technologies can achieve operational sustainability, improve brand reputation, and enhance long-term profitability.

Flexible Leasing and Subscription Models

Flexible leasing and subscription-based models are emerging as a key trend in the refrigerated truck rental market. Businesses facing fluctuating demand, seasonal peaks, or project-based transport requirements increasingly prefer short-term rental or pay-per-use options rather than long-term ownership. Subscription models provide access to well-maintained, technologically advanced refrigerated trucks without upfront capital investment. These arrangements often include maintenance, insurance, and roadside assistance, offering operational convenience and cost predictability. Flexible contracts allow companies to scale fleets up or down based on demand, improving efficiency and minimizing idle capacity. Rental providers benefit by fostering long-term client relationships, generating recurring revenue, and optimizing fleet utilization. For instance, the cold chain logistics sector faces high operational costs, with a single refrigerated truck and trailer costing up to $60,000, excluding ongoing expenses for maintenance, cleaning, fuel, and insurance. Strict temperature regulations, particularly for sensitive goods like pharmaceuticals, increase complexity and cost, as any deviation can render products ineffective. Around 20% of pharmaceutical shipments are damaged due to temperature fluctuations, causing an estimated $35 billion in annual losses. Given these high costs and the slim margin for error, businesses are increasingly turning to refrigerated truck rentals to avoid heavy capital investment while ensuring access to reliable, compliant, and well-maintained vehicles.

Segmental Insights

Truck Type Insights

In 2024, the Light truck segment (up to 7.5 tons) dominated the Global Refrigerated Truck Rental market due to its versatility and efficiency in handling last-mile deliveries and short-haul transportation. Light refrigerated trucks are highly preferred for delivering perishable goods, fresh produce, dairy, and frozen items in urban and semi-urban areas, where maneuverability and speed are critical. Their smaller size allows for easier navigation through congested streets, faster loading and unloading, and reduced operational costs compared to medium and heavy trucks. The increasing demand for online grocery and food delivery services has further reinforced the dominance of light refrigerated trucks, as they meet the need for frequent, small-batch deliveries while maintaining strict temperature control.

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Regional Insights

In 2024, North America emerged as the dominant region in the Global Refrigerated Truck Rental market, driven by the extensive demand for cold chain logistics across food, beverage, and pharmaceutical sectors. The growth is fueled by a high concentration of organized retail chains, supermarkets, and e-commerce platforms that require reliable temperature-controlled transportation to deliver fresh and frozen products efficiently. Increasing consumer awareness about food safety and stringent regulatory standards for perishable goods further reinforces the adoption of refrigerated truck rentals. For instance, frozen food retail sales grew 7.9% in the past year to reach $74.2 billion, driven largely by price increases amid inflation. Consumers are paying an average of $4.99 per unit, up 13.5% from last year, while unit sales declined 4.9% as shoppers buy less often, switch brands, and adjust pack sizes. Frozen meals ($26.6 billion) and desserts ($15.4 billion) lead the category, with processed meat/poultry seeing the fastest growth at 19.6%. Price remains the top purchase driver, followed by convenience and taste, while nearly three-quarters of shoppers seek better-for-you options.

Recent Developments

• In 2025, Fonterra introduced its first electric refrigerated truck, a Volvo FE Electric with a 256 kWh battery and 200 km range. Operating from Takanini, it will deliver dairy across Auckland, supporting the co-op’s sustainable fleet goals.
• In 2025, Reefer Van Network launched a customer portal offering instant booking, real-time tracking, and 24/7 support for temperature-controlled vehicles, streamlining cold chain logistics and enhancing transparency for shippers.
• In June 2024, Mitsubishi Heavy Industries Thermal Systems launched an upgraded TEJ35GTH low-GWP refrigerant model for electric trucks, enhancing refrigeration capacity, reducing environmental impact, and improving performance in extreme conditions.
• In June 2024, GS Global introduced BYD’s T4K electric refrigerated truck, equipped with an 82 kWh lithium iron phosphate (LFP) blade battery. The new model delivers a range of approximately 205 km at ambient temperature and about 164 km in colder conditions, showcasing advanced electric cold-chain transport capabilities.

Key Market Players

• ALLROUND Car Rental
• Enterprise Holdings, Inc.
• Fraikin
• Penske Corporation, Inc.
• Petit Forestier
• The Hertz Corporation
• Ryder System, Inc.
• Auto Wichert GmbH
• FedEx
• Polar Leasing, Inc.

Report Scope:

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

•           Refrigerated Truck Rental Market, By Truck Type:

o    Light (Upto 7.5t)

o    Medium (7.5t to 14t)

o    Heavy (More than 14t)

•           Refrigerated Truck Rental Market, By Rental Type:

o    Short Term

o    Long Term

•           Refrigerated Truck Rental Market, By Region:

o    North America

§  United States

§  Canada

§  Mexico

o    Europe & CIS

§  Germany

§  France

§  U.K.

§  Spain

§  Italy

o    Asia-Pacific

§  China

§  Japan

§  India

§  Vietnam

§  South Korea

§  Australia

§  Thailand

o    Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

o    South America

§  Brazil

§  Argentina

§  Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the global Refrigerated Truck Rental Market.

Available Customizations:

Global Refrigerated Truck Rental Market report with the given market data, Tech Sci Research offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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