Global Refrigerated Transport Market to Grow at a CAGR of 5.5% During 2024-2032, Aided by the Growing Food and Beverage Industry

The refrigerated transport market growth can be attributed to a surge in innovation, with advancements in refrigeration systems leading the charge. Electric and solar-powered units are replacing traditional diesel-powered systems, offering improved efficiency and a significant reduction in environmental impact.

Smart technologies empower real-time monitoring of temperature, humidity, and vehicle location, guaranteeing optimal conditions during the transportation of goods. This significantly mitigates risks, including spoilage, contamination, and regulatory non-compliance. The drive toward automation and advanced data analytics facilitates predictive maintenance, optimised routing, and other operational efficiencies, reducing overall costs. Consequently, technology serves as a key growth catalyst within the market, incentivising service providers to adopt cutting-edge solutions to maintain a competitive advantage.

Further, the market is being driven by the expansion of the e-commerce sector, rising urbanisation, and evolving consumer preferences. The increasing popularity of online shopping for perishable goods necessitates dependable road transportation solutions to ensure timely last-mile delivery. Furthermore, rapid urbanisation and shifting lifestyles have fuelled a surge in demand for convenience foods, such as frozen and ready-to-eat meals, further amplifying the need for refrigerated road transport networks to reach diverse urban and suburban markets.

Regulatory compliance is a critical driver of the market. Stricter food safety regulations require the use of sophisticated vehicles to ensure compliance with quality and safety standards. Growing consumer awareness has increased demand for high-quality and speciality foods, which often necessitate transport under precise temperature conditions. Furthermore, technological advancements in refrigeration, including real-time monitoring, have enhanced the efficiency and reliability of temperature-controlled road transport.

C.H. Robinson Worldwide Inc. (NASDAQ: CHRW) provides industry-leading temperature-controlled shipping solutions. With North America's largest network of reliable temperature-controlled capacity, it offers a wide range of cold chain transport services. Its 21,000+ contract carriers are Sanitary Transportation of Food (STF) compliant, ensuring expertise and safe handling of temperature-sensitive products.

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Market Breakup by Mode of Transportation, Technology, Temperature, Application, and Region:

• On the basis of the mode of transportation, the market is classified into refrigerated road transport, refrigerated sea transport, refrigerated rail transport, and refrigerated air transport.

• The market can be segmented based on technology into vapour compression systems, air-blown evaporators, eutectic devices, and cryogenic systems.

• On the basis of the temperature, the market is bifurcated into single-temperature and multi-temperature.

• The market can be segmented based on application into chilled food products and frozen food products, among others.

• By region, the market can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Increasing consumer demand for food safety and quality drives the need for strict regulatory compliance during the transport of perishable goods. In response, governments and international organisations are strengthening regulations for the handling, storage, and transportation of temperature-sensitive products, such as food and pharmaceuticals. Consequently, there is a growing demand for refrigerated transport services capable of meeting these rigorous standards.

• To ensure adherence to regulatory standards and mitigate risks of spoilage or contamination, the market is strategically adopting advanced technologies such as real-time temperature monitoring, GPS tracking, and data analytics. These investments not only prevent potential losses due to spoilage but also contribute to building trust and a strong reputation among consumers and stakeholders.

• The pharmaceutical and healthcare sectors play a crucial role in driving the refrigerated transport market expansion.  An ageing population and the rise in chronic illnesses globally have led to a surge in demand for temperature-sensitive pharmaceuticals like vaccines, biologics, and insulin. To ensure timely and secure delivery of these essential products, hospitals, pharmacies, and healthcare facilities rely on transport solutions that guarantee strict temperature control. The continued expansion of the healthcare and pharmaceutical sectors creates a substantial market force, necessitating advanced refrigerated transportation solutions to address these vital requirements.

Key Offerings of the Report:

• The EMR report gives an overview of the global refrigerated transport market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the mode of transportation, technology, temperature, application, and region.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global refrigerated transport market are C.H. Robinson Worldwide, Inc., Carrier, Daikin Europe N.V, DB Schenker, and Trane Technologies, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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