Refrigerated Transport Market Size, Share, Growth Analysis, By Product(Chilled Food and Frozen Food), By Temperature(Multiple Temperature and Single Temperature), By Mode of Transport(Road, Sea, Rail, Air), By Technology(Vapour Compression Systems, Eutectic Systems, Cryogenic Systems, Others), By Region - Industry Forecast 2024-2031

Global Refrigerated Transport Market size was valued at USD 119.48 Billion in 2022 and is poised to grow from USD 127.25 Billion in 2023 to USD 210.59 Billion by 2031, at a CAGR of 6.5% during the forecast period (2024-2031).

Increasing consumer awareness about healthy eating habits, along with the wide availability of various products, is increasing the demand for the use of these transportation vehicles. These trucks are also important for economic progress. Local governments and businesses find it incredibly useful to use this refrigerated transport as it helps to provide higher revenue when supplies are fresh. The use of a medium for transport is important for companies. The products available in the market determine the success of every organization. Products in refrigerated trucks or vans can be checked and temperatures adjusted as needed. It also facilitates delivery at the end user's location. All these factors are expected to drive growth in the refrigerated transport market during the forecast period.

However, climate change is affecting the transport infrastructure and trained resources in developed regions, which is hampering the market growth. Maintaining product integrity during the transportation of perishable products, as well as a lack of standards & protocols, are hampering the growth of the global market. But technological developments in refrigerated systems and equipment, intermodal transportation to reduce fuel costs, and the integration of multi-temperature systems in trucks and trailers have significant growth potential.

US Refrigerated Transport Market is poised to grow at a sustainable CAGR for the next forecast year.