The global refrigerated trucks market size reached US$ 9.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.0 Billion by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028. The increasing demand for temperature sensitive products, rising consumption of seafood, meat, dairy, and other food products, and the growing need for vaccines and biopharmaceuticals are some of the major factors propelling the market.
Market Size in 2022
|US$ 9.3 Billion|
Market Forecast in 2028
|US$ 13.0 Billion|
|Market Growth Rate (2023-2028)||
Refrigerated trucks, also known as reefer trucks, are vehicles specifically designed to transport perishable goods and items that require temperature-controlled environments. They are equipped with refrigeration units that allow them to maintain a consistent and controlled temperature throughout the transportation process. They aid in preserving the quality, freshness, and safety of products, such as fresh produce, dairy products, meat, seafood, pharmaceuticals, and other temperature-sensitive goods. Refrigerated trucks also help prevent spoilage, maintain product integrity, and ensure regulatory compliance.
The increasing demand for temperature sensitive products is strengthening the growth of the market around the world. Moreover, the rising consumption of seafood, meat, dairy and other food products and the growing demand for packaged ready to eat (RTE) meals due to the expanding purchasing power of consumers and hectic schedules is favoring the growth of the market. In addition, shifting preferences towards frozen food and significant growth in the food and beverage (F&B) industry are contributing to the market growth. Apart from this, the rising need for vaccines and biopharmaceuticals, on account of the surging prevalence of infectious and chronic ailments, is propelling the growth of the market. Furthermore, stringent policies undertaken for the safe storage and distribution of time and temperature sensitive pharmaceutical products (TTSPPs) from international health organizations is creating a positive outlook for the market.
Increase in health and fitness awareness
As health consciousness rises, individuals are seeking ways to achieve their fitness goals. Protein supplements provide a convenient source of essential amino acids crucial for muscle repair and growth. People are increasingly aware about the role protein plays in maintaining a healthy body composition and aiding weight management.
Rise in vegan and vegetarian lifestyles
The vegan and vegetarian population often faces challenges in obtaining adequate protein from plant-based diets alone. Protein supplements derived from sources like pea, soy, or rice offer a feasible solution, which caters to the dietary preferences of this growing demographic.
Growing change in lifestyles and dietary patterns
Modern lifestyles often lead to inadequate protein intake from regular diets. Protein supplements provide a quick and efficient solution for those with busy schedules or dietary restrictions. The shift towards plant-based diets has also boosted the demand for alternative protein sources, such as plant-based protein supplements.
IMARC Group provides an analysis of the key trends in each segment of the global refrigerated trucks market, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on type, tonnage capacity, and application.
Breakup by Type:
Light commercial vehicle dominates the market
The report has provided a detailed breakup and analysis of the market based on the type. This includes light commercial vehicle, medium commercial vehicle, and heavy commercial vehicle. According to the report, light commercial vehicle represented the largest segment. A light commercial refrigerated truck is a smaller vehicle designed for transporting perishable goods over short distances. It is often used for local deliveries, catering, and small-scale distribution. It has a lower carrying capacity as compared to larger trucks and is typically built on a smaller chassis. Light commercial refrigerated truck is suitable for businesses that require frequent deliveries within a limited geographic area.
Medium commercial refrigerated trucks are larger than light commercial vehicles but smaller than heavy commercial ones. They offer a balance between carrying capacity and maneuverability, which makes them suitable for regional or city-wide distribution of temperature-sensitive products. These trucks can handle larger loads as compared to light commercial vehicles and are commonly used by businesses that need to transport goods over medium distances.
Heavy commercial refrigerated trucks are the largest and most robust among the three categories. They are designed for long-haul transportation of perishable items, which covers extensive distances. These trucks have a high carrying capacity and often include advanced cooling systems to maintain the required temperature throughout the journey. Heavy commercial refrigerated trucks are used for transporting large quantities of goods between different regions or even countries.
Breakup by Tonnage Capacity:
A detailed breakup and analysis of the market based on the tonnage capacity has also been provided in the report. This includes less than 10 tons, 10-20 tons, and more than 20 tons.
Refrigerated trucks with a tonnage capacity of less than 10 tons are designed to carry relatively smaller loads. These trucks are typically used for short-distance deliveries or for transporting perishable goods within a local area. They are suitable for businesses that deal with smaller quantities of temperature-sensitive products and require frequent trips.
Refrigerated trucks with a tonnage capacity between 10 and 20 tons are in the mid-range category. They offer a higher carrying capacity compared to smaller trucks, which makes them suitable for medium-distance deliveries and regional distribution. These trucks can accommodate a moderate amount of cargo and are often used by businesses that need to transport goods between cities or neighboring regions.
Refrigerated trucks with a tonnage capacity of more than 20 tons are the largest and most robust among the categories. They are designed for long-haul transportation of significant quantities of perishable products. These trucks can carry substantial loads over extensive distances and are commonly used for intercity or cross-country transportation of goods.
Breakup by Application:
Food and beverage dominate the market
The report has provided a detailed breakup and analysis of the market based on the application. This includes food and beverage, pharmaceuticals, chemicals, and others. According to the report, food and beverage represented the largest segment. Refrigerated trucks play a crucial role in the food and beverage (F&B) industry by ensuring the safe transportation of perishable goods. These trucks maintain specific temperature conditions to preserve the freshness and quality of items, such as fresh produce, dairy products, frozen foods, seafood, and meat. F&B businesses use refrigerated trucks for distributing goods from manufacturers to wholesalers, retailers, restaurants, and even directly to consumers. The ability to maintain controlled temperatures helps prevent spoilage, preserve taste, and meet food safety regulations.
The pharmaceutical industry relies on refrigerated trucks to transport temperature-sensitive medical products, vaccines, and medications. These trucks provide a controlled environment to ensure that pharmaceuticals maintain their efficacy and quality during transit. Refrigerated trucks help pharmaceutical companies distribute their products to hospitals, clinics, pharmacies, and other medical facilities while adhering to strict regulatory standards.
Refrigerated trucks are also used in the chemical industry to ensure the safe delivery of chemicals. These trucks can maintain temperatures that prevent volatility, decomposition, or other unwanted reactions. Chemical manufacturers and distributors can ensure the integrity and safety of their products during transportation by using refrigerated trucks.
Breakup by Region:
Asia Pacific exhibits a clear dominance, accounting for the largest refrigerated trucks market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share. The increasing number of food retail services represents one of the primary factors driving the demand for refrigerated trucks in the Asia Pacific region. Moreover, rising investments in the development of advanced medical facilities and research laboratories is bolstering the market growth in the region. Besides this, the growing need for efficient delivery of online products like groceries is influencing the market positively in the region.
The leading companies are incorporating smart sensors and monitoring systems in refrigerated trucks to ensure real time temperature tracking and provide alerts and notifications to drivers and fleet managers if there are any temperature deviations. They are also adopting the use of telematics and a global positioning system (GPS) to track the location, speed, and performance of refrigerated trucks. It also helps monitor fuel consumption, driving behavior, and maintenance needs and enables efficient route planning, reducing delivery times and fuel consumption while optimizing temperature control. Moreover, key players introducing refrigerated trucks equipped with remote control capabilities, which allows drivers or operators to adjust temperature settings and monitor cargo conditions from a distance. They also offer refrigerated trucks with data logging and reporting functionalities to record temperature data throughout the journey, which can be later analyzed to ensure compliance with regulations and quality standards. Besides this, leading players are integrating advanced cooling technology to reduce fuel consumption and contribute to environmental sustainability by lowering greenhouse gas emissions.
The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
|Base Year of the Analysis||2022|
|Scope of the Report||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
|Types Covered||Light Commercial Vehicle, Medium Commercial Vehicle, Heavy Commercial Vehicle|
|Tonnage Capacities Covered||Less Than 10 Tons, 10-20 Tons, More Than 20 Tons|
|Applications Covered||Food and Beverage, Pharmaceuticals, Chemicals, Others|
|Regions Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Chereau, Eicher Motors Limited, Hyundai Hong Kong Co. Limited, Mahindra & Mahindra Limited, Tata Motors Limited, etc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global refrigerated trucks market was valued at US$ 9.3 Billion in 2022.
We expect the global refrigerated trucks market to exhibit a CAGR of 5.7% 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 global refrigerated trucks market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing adoption of refrigerated trucks across several nations to transport temperature-sensitive products, such as vaccines, biopharmaceuticals, clinical trial materials, etc., for the treatment of the coronavirus infection.
Based on the type, the global refrigerated trucks market has been segmented into light commercial vehicle, medium commercial vehicle, and heavy commercial vehicle. Currently, light commercial vehicle holds the majority of the total market share.
Based on the application, the global refrigerated trucks market can be divided into food and beverage, pharmaceuticals, chemicals, and others. Among these, food and beverage exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.
Some of the major players in the global refrigerated trucks market include Chereau, Eicher Motors Limited, Hyundai Hong Kong Co. Limited, Mahindra & Mahindra Limited, Tata Motors Limited, etc.
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134 N 4th St. Brooklyn, NY 11249, USA
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30 Churchill Place London E14 5EU, UK