The India refrigerated trucks market size reached INR 5.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 14.7 Billion by 2028, exhibiting a growth rate (CAGR) of 18.1% during 2023-2028.
A refrigerated truck refers to a vehicle type that is particularly designed for carrying perishable goods at lower temperatures to avoid spoilage or contamination. These trucks are primarily equipped with a mechanical refrigeration system that contains carbon dioxide (dry ice) as a cooling agent to maintain the temperature below the freezing point. Refrigerated trucks are widely adopted to transport numerous temperature-sensitive items, such as meat and fish, dairy products, fruits & vegetables, confectioneries, pharmaceuticals, etc.
India Refrigerated Trucks Market Trends:
In India, the expanding cold chain logistics sector coupled with the growing number of food retail services is primarily driving the demand for refrigerated trucks. In line with this, the rising consumer inclination towards frozen, chilled, and processed food items due to hectic work schedules and sedentary lifestyles is also propelling the market growth. Additionally, the wide availability of frozen meat, ready-to-cook snacks, seasonal fruits and vegetables, etc., across diverse brick-and-mortar and online distribution channels is further augmenting the deployment of refrigerated trucks for supply-based applications. Several food retailers are focusing on the adoption of advanced-cold chain transportation facilities for efficient management of their supply chains. Apart from this, a significant growth in the healthcare sector along with the rising demand for safe transportation of temperature-sensitive products, such as vaccines, biopharmaceuticals, clinical trial materials, etc., is also catalyzing the market. Moreover, the increasing investments in the development of advanced medical facilities and research laboratories are further bolstering the need for refrigerated trucks to preserve heat-liable biological materials during transportation activities. In the coming years, the emergence of hybrid refrigerated trucks with phase change material (PCM) technology offering improved energy efficiency and enhanced operational features will continue to drive the market growth in India.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India refrigerated trucks market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on vehicle capacity GVW, sector, body type and application.
Breakup by Vehicle Capacity GVW:
02 – 4.5 Tons
7 – 7.5 Tons
Breakup by Sector:
Breakup by Body Type:
Breakup by Application:
Meat and Fish
Fruits & Vegetables
Breakup by Region:
West and Central India
The competitive landscape of the industry has also been examined along with the profiles of the key players being Carrier Airconditioning & Refrigeration Limited (Carrier Global Corporation), Ice Make Refrigeration Limited, JCBL Limited, KOLD SEAL, Motherson Sumi System Ltd, Subros Limited, Surin International Private Limited, Tata Motors Limited, Trane Technologies India Pvt Ltd and TransACNR.
Base Year of the Analysis
Vehicle Capacity GVW, Sector, Body Type, Application, Region
North India, West and Central India, South India, East India
Carrier Airconditioning & Refrigeration Limited (Carrier Global Corporation), Ice Make Refrigeration Limited, JCBL Limited, KOLD SEAL, Motherson Sumi System Ltd, Subros Limited, Surin International Private Limited, Tata Motors Limited, Trane Technologies India Pvt Ltd and TransACNR
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Key Questions Answered in This Report
The India refrigerated trucks market was valued at INR 5.4 Billion in 2022.
We expect the India refrigerated trucks market to exhibit a CAGR of 18.1% during 2023-2028.
The rising number of advanced medical facilities and research laboratories, along with the growing consumer inclination towards frozen, chilled, and processed food items, is primarily driving the India refrigerated trucks market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of refrigerated trucks across the nation to transport temperature-sensitive products, such as vaccines, biopharmaceuticals, clinical trial materials, etc., for the treatment of the coronavirus infection.
Based on the sector, the India refrigerated trucks market has been segregated into organized sector and unorganized sector. Currently, the organized sector holds the largest market share.
Based on the application, the India refrigerated trucks market can be bifurcated into meat and fish, dairy products, fruits & vegetables, confectionaries, pharmaceutical, and others. Among these, dairy products exhibit a clear dominance in the market.
On a regional level, the market has been classified into North India, West and Central India, South India, and East India, where West and Central India currently dominates the India refrigerated trucks market.
Some of the major players in the India refrigerated trucks market include Carrier Airconditioning & Refrigeration Limited (Carrier Global Corporation), Ice Make Refrigeration Limited, JCBL Limited, KOLD SEAL, Motherson Sumi System Ltd, Subros Limited, Surin International Private Limited, Tata Motors Limited, Trane Technologies India Pvt Ltd, and TransACNR.
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