Refrigerated Transport Market to surpass $194.2 Bn by 2032, Says Global Market Insights Inc.
Major refrigerated transport market participants include ADM, C. R. England Inc., C.H. Robinson Worldwide, Inc., Cargill Incorporated, Carrier Transicold Inc., GAH Refrigeration Ltd., Great Dane LLC, J. B. Hunt Transport Services, Inc., Kuehne + Nagel, Schneider National, Inc.
Selbyville, Delaware, Oct. 03, 2024 (GLOBE NEWSWIRE) —
The refrigerated transport market valuation is predicted to reach USD 194.2 billion by 2032, reported in a research analysis by Global Market Insights Inc.
The escalating demand for perishable goods is mong the key factors driving this growth, influenced by various trends. A major contributor is the shift towards healthier eating, with more consumers choosing fresh vegetables, fruits, dairy products, and organic foods over processed options. This trend is especially evident in urban regions, where there is heightened awareness about health and nutrition. Moreover, the growing middle class in emerging markets is increasing the demand for premium perishable products, including imports that need sophisticated cold chain logistics to maintain quality during transit.
The rise of e-commerce, particularly in the food and grocery industries, has further amplified the need for effective refrigerated transport market. The increase in online grocery shopping, which surged during the pandemic, has raised consumer expectations for quick delivery of fresh and frozen products to their doorsteps. This shift has created a significant demand for a reliable cold chain infrastructure to keep perishable goods at their optimal temperatures during the delivery process.
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The refrigerated transport market from the road transport segment held the largest share, accounting for over 47%. Road transport dominates due to its flexibility, extensive infrastructure, and ability to offer door-to-door delivery services. Unlike air, sea, or rail, road transport can reach remote locations, which is essential for maintaining a continuous cold chain and ensuring product integrity. The extensive road network enables refrigerated trucks to deliver goods directly from producers to retail locations, minimizing handling and reducing the risk of temperature fluctuations.
Based on application, the market is divided into chilled and frozen segments. In 2023, the chilled segment made up over 57% of the market share. The rising demand for goods that require storage just above freezing, such as fresh produce, dairy, and beverages, has driven the need for chilled transport. As more consumers opt for fresh and minimally processed foods, the demand for chilled logistics has grown substantially.
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North America led the global refrigerated transport market with a 38% share. The region’s advanced infrastructure, stringent food safety regulations, and high consumption of perishable goods have made it a key player in refrigerated transport.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates & calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market scope & definition
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2021 – 2032
Chapter 3 Refrigerated Transport Market Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Refrigerated vehicle and container manufacturers
3.2.2 Refrigeration unit and system providers
3.2.3 Technology providers
3.2.4 End-user
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Pricing analysis
3.7 Trade data
3.7.1 Tropical fruit
3.7.2 Poultry
3.8 Key news & initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rising Demand for Perishable Goods
3.10.1.2 Technological Innovations in Cold Chain Logistics
3.10.1.3 Regulatory Standards and Compliance
3.10.2 Industry pitfalls & challenges
3.10.2.1 High Operational Cost
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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