Road Transport Refrigeration Equipment - Global Strategic Business Report

The global market for Road Transport Refrigeration Equipment was valued at US$5.5 Billion in 2024 and is projected to reach US$7.6 Billion by 2030, growing at a CAGR of 5.4% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global Road Transport Refrigeration Equipment Market - Key Trends & Drivers Summarized

What Is Road Transport Refrigeration Equipment?

Road transport refrigeration equipment is specialized machinery used to transport perishable goods, such as food and pharmaceuticals, under controlled temperatures. This equipment includes refrigerated trucks, trailers, and vans equipped with cooling systems that maintain the required temperature throughout the journey. These systems are crucial for ensuring the quality and safety of perishable products during transit, preventing spoilage, and extending shelf life. The technology used in road transport refrigeration includes advanced compressors, condensers, evaporators, and insulation materials that work together to provide efficient and reliable temperature control.

How Are Market Demands Shaping This Industry?

Market demands are significantly shaping the road transport refrigeration equipment industry. The increasing demand for fresh and frozen foods, driven by changing consumer preferences and the expansion of the global food supply chain, is boosting the need for reliable refrigeration solutions. The growth of e-commerce and home delivery services, especially for perishable goods, is further propelling market demand. Additionally, stringent regulations on food safety and the transportation of pharmaceuticals require advanced refrigeration equipment to comply with temperature control standards. The rise in international trade of perishable products is also driving the demand for efficient and durable refrigeration equipment.

What Technological Innovations Are Influencing This Market?

Technological innovations are transforming the road transport refrigeration equipment market. Advances in refrigeration technology, such as the development of eco-friendly refrigerants and energy-efficient cooling systems, are enhancing the performance and sustainability of these units. The integration of telematics and IoT (Internet of Things) technologies is enabling real-time monitoring and control of temperature and other critical parameters, improving the reliability and efficiency of refrigerated transport. Innovations in insulation materials and compressor technology are reducing energy consumption and operational costs. Additionally, the development of hybrid and electric-powered refrigeration units is addressing the need for environmentally sustainable transport solutions.

What Factors Are Driving Market Growth?

The growth in the road transport refrigeration equipment market is driven by several factors, including the increasing demand for perishable goods, the expansion of e-commerce, and stringent regulations on food and pharmaceutical transportation. The growing consumer preference for fresh and frozen foods is boosting demand for reliable refrigeration solutions. The rise of online grocery shopping and home delivery services is further propelling market growth. Technological advancements in refrigeration and telematics are enhancing the efficiency and reliability of transport refrigeration equipment. Additionally, the push for environmentally sustainable solutions is driving the development of energy-efficient and eco-friendly refrigeration units. These factors collectively ensure robust growth in the road transport refrigeration equipment market.

Scope of the Study

The report analyzes the Road Transport Refrigeration Equipment market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.

Segments:

Install Vehicle (Trailers, Heavy Trucks, Vans & Light Trucks); Application (Food & Beverage, Pharmaceutical & Healthcare, Other Applications).

Geographic Regions/Countries:

World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Trailers segment, which is expected to reach US$4.3 Billion by 2030 with a CAGR of a 4.9%. The Heavy Trucks segment is also set to grow at 5.7% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $1.9 Billion in 2024, and China, forecasted to grow at an impressive 6.6% CAGR to reach $714.6 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as Carrier Global Corporation, GAH (Refrigeration) LTD., Great Dane, a Division of Great Dane LLC., Hubbard Products Ltd., Hultsteins Kyl AB and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Road Transport Refrigeration Equipment Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Road Transport Refrigeration Equipment Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Road Transport Refrigeration Equipment Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Some of the 70 major companies featured in this Road Transport Refrigeration Equipment market report include:

• Carrier Global Corporation
• GAH (Refrigeration) LTD.
• Great Dane, a Division of Great Dane LLC.
• Hubbard Products Ltd.
• Hultsteins Kyl AB
• Jean Chéreau SAS
• Lamberet SAS
• Mitsubishi Heavy Industries Thermal Systems, Ltd.
• Morgan Truck Body, LLC
• Sainte Marie Constructions Isothermes S.M.C.I
• Schmitz Cargobull AG
• Trane Technologies plc
• FRIGOBLOCK GmbH
• Thermo King Corporation
• Wabash National Corporation