Refrigerated Road Transportation Market Size 2024-2028

The refrigerated road transportation market is forecast to grow by USD 4.37 billion, at a CAGR of 7.3%, from 2023 to 2028. The market is driven by the rising adoption of cold chain logistics and increasing demand for perishable goods, particularly in the food and beverage, and pharmaceutical industries. Stringent regulations to ensure the safety and quality of temperature-sensitive goods are also contributing to this growth. However, challenges like high operational costs, lack of standardization, and the need for specialized infrastructure may hinder market expansion.

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Market Segmentation

The refrigerated road transportation market is segmented as follows:

By Type:

• Refrigerated Trailers
• Refrigerated Vans

By Application:

• Chilled Food
• Frozen Food

By Geography:

• APAC
  • China
  • Japan
• North America
  • Canada
  • US
• Europe
  • UK
• South America
• Middle East and Africa

Market Dynamics

Drivers:

• Rising Initiatives to Promote Cold Chain Logistics: Governments and international regulatory bodies have introduced stringent regulations to ensure food and drug safety, stimulating market growth. For instance, the WHO and CFDA have established guidelines and regulations to improve the quality and safety of temperature-sensitive goods.

Trends:

• Advances in Refrigerator Monitoring Systems: The market is witnessing an increase in the adoption of advanced refrigerator monitoring systems, which help minimize losses caused by temperature excursions, thus enhancing the reliability of the transportation process.

Challenges:

• Losses Due to Temperature Excursions: Temperature excursions remain a significant challenge, as they can lead to losses and higher operational costs. Maintaining a consistent temperature throughout transportation is critical to ensuring the quality and safety of perishable goods.

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Key Players

• AP Moller Maersk AS
• Bay and Bay Transportation
• C H Robinson Worldwide Inc.
• Carrier Global Corp.
• CMA CGM Group
• CRST The Transportation Solution Inc.
• Daikin Industries Ltd.
• DB Schenker
• Deutsche Post AG
• FedEx Corp.
• GAH Refrigeration LTD.
• Great Dane LLC
• Knight Swift Transportation Holdings Inc.
• Mike Frost Trucking Inc.
• Unternehmensgruppe Theo Muller
• WEL Companies Inc.
• West Coast Carriers
• Witte Bros Exchange Inc.
• XPO Inc.

Recent Developments:

• November 2023: Carrier Global Corp. announced a strategic initiative to expand its electric refrigeration systems as part of its commitment to improving sustainability in refrigerated road transport.
• October 2023: DB Schenker introduced an advanced refrigerator monitoring system designed to reduce operational costs and improve the efficiency of cold chain logistics for perishable goods.