Source: Precedence Research
The global refrigerated transport market size was valued at US$ 24 billion in 2022 and it is expected to reach around US$ 284.44 billion by 2032, growing at a compounded annual growth rate of 28.10% during the forecast period 2023 to 2032.
The refrigerated transport is a special method used for transportation of various products which need control temperature during the transport. In order to transport perishable goods like fruits, vegetables, frozen foods and other chemicals that are temperature sensitive the refrigerator transport is used. The built in system which helps in keeping the temperature regulated throughout the process is extremely beneficial for many industries.
Products like fruits, meats and many other pharmaceutical products need refrigerator transport. In order to ensure the temperature is regulated the trucks that are used for transport are insulated in order to retain the quality of the products. There are many different types of technologies and many efforts that are taken by the government for providing better infrastructure in this industry. The loss do to fruits or vegetables is extremely high and there is an increased need for refrigerated transport across many developed and the developing nations. There is an extremely complex process required in the transport systems. These carriers are exposed to varied weather conditions when the vehicle passes through different temperatures on the way to the destination. Also there is an increased risk of the container being flammable.
Key Takeaway
- By technology, the air blown evaporators segment has garnered revenue share of around 49% in 2022.
- The eutectic devices technology segment accounted revenue share 32% in 2022.
- Asia Pacific region held highest revenue share 38% in 2022.
- Europe region accounted market share of around 29.2% in 2022.
Refrigerated Transport Market (By Product: Chilled Food, Frozen Food; By Temperature: Multiple Temperature, Single Temperature; By Technology: Vapor compression system, Cyrogenic System; By Vehicle Used: Heavy Commercial Vehicle, Light Commercial Vehicle, Medium Commercial Vehicle; By Mode of Transport (Road): LCV, MHCV, HCV) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023 – 2032
ARPI Noted : The growth of the national refrigerated transportation industry reached 16.5% in 2023 of the total existing units