Refrigerated truck market worth USD 13.9 billion by 2030 at

New York, U.S., July 07, 2022 (GLOBE NEWSWIRE) — Overview of the refrigerated truck market

According to a comprehensive research report by Market Research Future (MRFR), “refrigerated truck market Information by Application, Type, Tonnage Capacity and Region – Forecast to 2025“, the market is expected to grow at a CAGR of 11.80% to reach $13.9 billion by 2030.

Market scope

The refrigerated truck is used to transport fresh or frozen goods in a closed van, it is a refrigerated truck equipped with refrigeration equipment and refrigeration units polyurethane insulated transport box for transporting a refrigerated transport truck. Refrigerated truck can be divided by cargo box type, chassis load capacity and manufacturer. It is commonly used for transportation of frozen foods (frozen truck), vaccine drugs (vaccine carriers), fruits and vegetables (fresh truck), dairy products (milk transport vehicles) and others.

A refrigerated truck or refrigerated truck is a special type of freight transport vehicle designed to transport temperature-sensitive goods and supplies. It is a storage unit connected to a semi-trailer capable of transporting a massive number of perishable products. These carts are widely used in several industrial sectors.

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Report scope:

Report attribute Details
Market size 2030 $13.9 billion
CAGR 11.80% (2022–2030)
base year 2021
Forecast period 2022–2030
Historical data 2019
Forecast units Value (USD billion)
Report cover Revenue forecasts, competitive landscape, growth factors and trends
Segments Covered By application, type, tonnage capacity and region
Geographical areas covered North America, Europe, Asia-Pacific and Rest of the World (RoW)
Key Market Drivers Consumer demand
Significant boost in the food and beverage industry

Competitive analysis

The global refrigerated truck market has prominent leaders such as:

  • Schmitz Cargobull AG (Germany)
  • Kögel Trailer GmbH & Co.KG (Germany)
  • Chereau (France)
  • Hyundai Translead. Inc. (USA)
  • Great Dane LLC (USA)
  • National Wabash (USA)
  • Lamberet SAS (France)
  • Fahrzeugwert Bernard Krone Gmbh & Co.KG (Germany)
  • GRW Tanks and Trailers (USA)
  • China International Marine Containers (Group) Ltd. (China)

Covered USP market

Market factors

The global refrigerated truck market has witnessed a massive increase in the growth rate over the past few years. The main aspect driving an acceleration in the growth of the market is the increasing consumer demand for packaged foods. The growth in per capita consumer spending on frozen foods in several developed countries is driving the demand for refrigerated trucks worldwide. Additionally, the rapid growth of pharmaceutical and medical industries across the globe is also expected to boost the market growth over the coming years.

Governments around the world are investing heavily to build an efficient healthcare infrastructure that can provide lucrative opportunities for players around the world. Also, factors such as an increase in e-commerce portals, an increase in the transportation of life-saving drugs, and an increase in vehicles across the globe may positively impact the performance of the market during the assessment period. .

Market constraints

On the other hand, factors such as economic recession in the automotive industry, occurrence of COVID-19 pandemic, and strict government protocols may hamper the growth of the refrigerated truck market.

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Impact of COVID-19

The global COVID-19 pandemic has had a severe impact on the majority of industrial sectors around the world. But in the case of the global refrigerated truck market, the impact is quite different from others. Since the beginning of the global pandemic, the pharmaceutical and medical industries have experienced exponential growth across the world. Hence, the need for refrigerated trucking has also increased lately. MRFR’s recent analysis of the global refrigerated truck market implies that the boom in pharmaceuticals, chemicals and medical products is keeping the market on the brink of growth.

Even though there was a brief slump in the food and beverage market for a series of lockdowns and shutdowns in various parts of the world, in various countries around the world, per capita spending fell, which affected the economy. But as cases decline globally, the market expects the growth rate to increase.

Sector analysis

The global refrigerated truck market has been fragmented into different segments based on application, capacity, type and region.

Based on type, the global refrigerated truck market is divided into heavy-duty vehicles (HCVs), medium-duty vehicles (MCVs), and light-duty vehicles (LCVs).

Based on tonnage capacity, the global refrigerated truck market is divided into over 20 tons, 10-20 tons and under 10 tons.

The refrigerated truck market is segmented into chemicals, pharmaceuticals, food & beverages, and others based on application.

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Regional analysis

The global refrigerated truck market is studied in five major regions: Middle East & Africa, North America, Asia-Pacific, Europe and Latin America. The market is spread over several regions of the world and is gaining momentum. Refrigeration market trends vary by geographic region.

According to the MRFR analysis report, the North American region will dominate the global refrigerated truck market over the forecasted period. The United States is the first revenue pocket in the regional market. The country is the main driver of the greatest expansion of cold chain transport across the world. The major driver for the growth of the regional market is the adoption of refrigerated trucks in domestic and international fast food chains in the region.

The refrigerated truck market for the Asia-Pacific region is expected to show the highest growth during the assessment period. Countries like India, China, and Japan are major contributors to the growth in the regional market. The major aspect driving an upsurge in the growth of the regional market is the growing need for processed foods and beverages across the region. Additionally, expanding pharmaceutical industry in the region is another crucial parameter driving the demand for the refrigerated truck market. Additionally, the growing demand from the processed meat and seafood industry will likely drive the demand for refrigerated trucks over the next few years.

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