The global road transport refrigeration equipment market size attained a value of more than USD 3.99 Billion in 2025. The industry is expected to grow at a CAGR of 4.50% during the forecast period of 2026-2035, driven by the flourishing end-use industries, including e-commerce, pharmaceutical, food and beverage, among others.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
4.5%
Value in USD Billion
2026-2035
*this image is indicative*
Road transport refrigeration equipment is defined as a control component, which is used to adjust the temperature of freight stored in a container. Refrigeration of perishable goods is crucial in the process as it can save cost, time, and value of the stock. This equipment is used to preserve variety of products ranging from food products, pharmaceuticals, and some medicines, among others.
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The EMR’s report titled “Road Transport Refrigeration Equipment Market Report and Forecast 2026-2035 offers a detailed analysis of the market based on the following segments:
Market Breakup by Install Vehicle
Market Breakup by Mode of Operation
Market Breakup by Power Source
Market Breakup by Application
Market Breakup by Region
The van and light truck segment, based on install vehicle, accounts for a significant share in the global road transport refrigeration equipment market. Vans are convenient and quick which enable nearby delivery easy and reliable. Refrigerated vans are witnessing a high demand for the transportation of perishable goods as it protects the goods from decaying, while allowing transporters achieve schedule flexibility. Meanwhile, light trucks enable the companies transport more goods in a scheduled time. In addition, trucks are strong and prevent melting and disintegration of goods. Moreover, light trucks are ideal for transporting vaccines which is a major driving factor of the segment owing to the outbreak of harmful viruses. Moreover, currently traces of COVID are still in the air, which is pushing the vaccine transportation, leading to the expansion of road transport refrigeration equipment market.
Based on mode of operation, the multi-temperature segment is expected to witness a steady growth in the forecast period. Multi-temperature road transport refrigeration equipment allows the management of distinguished temperatures withing the unconnected cells. Multi-temperature cells are useful in the transportation of packaged food products owing to the separate requirement of temperatures, which is a crucial driving factor of the market. In addition, multi-temperature road transport refrigeration equipment is suitable for both light and heavy transportation vehicles, which is further bolstering the growth of this segment. Furthermore, multi-temperature multi-temperature road transport refrigeration units are witnessing increased innovations, such as the development of diesel units with superior technical concept.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following road transport refrigeration equipment companies, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Mitsubishi Heavy Industries Ltd. is a popular technological innovator based in Japan. This company was founded in the year 1884 and offers wide range of refrigeration units for trucks and trailers. Apart from refrigeration equipment, Mitsubishi Heavy Industries Ltd. innovates ships, aircrafts, heavy manufacturing machinery, and automobiles, among others. As of March 2023, this company employees a workforce of 78,000+ employees.
G.A.H. Refrigeration Ltd. is a renowned transport refrigeration company which offers refrigeration systems for vans and cabs of different sizes and weights. G.A.H. Refrigeration Ltd. is known to provide fuel efficient and powerful solutions which cater to the transportation demands of various end use industries. The company was founded in 1993 and is currently headquartered in United Kingdom.
Hwasung T&T Co.,Ltd. was founded in the year 1977 as South Korea’s first truck refrigeration system manufacturer. It is a leading transport refrigeration manufacturer around to world. It currently exports transport refrigeration components across more than 40 countries. Hwasung T&T Co.,Ltd. is headquartered in Kyonggi-Do, and is investing heavily towards innovation.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other market players include Daikin Industries Ltd., Carrier Global Corporation, and GAH (Refrigeration) Ltd, among others.
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The market size reached a value of more than USD 3.99 Billion in 2025.
The market is estimated to grow at a CAGR of 4.50% during the forecast period of 2026-2035 to attain a value of USD 6.20 Billion by 2035.
The efficient operability, high safety, and wide range of services offered by the road transport refrigeration equipment are the major market drivers of the market. In addition, the robust expansion of the food and pharmaceutical sector is further aiding the market growth.
The key trends in the market include the growing expansion of the e-commerce sector, which is bolstered by the heightened digitalisation across the developed and developing economies.
It is necessary to transport perishable and sensitive goods from one place to another with full safety and hygiene.
The three main components of the equipment include condenser, compressor, and an evaporator.
The advantages of the equipment include improvement of community health, economic superiority, reduced road congestion, and greater fuel efficiency, among others.
The vehicles which use road transport refrigeration equipment include vans, light and heavy trucks, and trailers.
The equipments operate at single temperature and multi temperature.
The power sources include vehicle powered and self-powered.
This equipment finds extensive applications in food and beverage products, pharmaceutical and other healthcare products, and floral products, among others.
Mitsubishi Heavy Industries Ltd., G.A.H. Refrigeration Ltd., Hwasung T&T Co.,Ltd., Daikin Industries Ltd., Carrier Global Corporation, and GAH (Refrigeration) Ltd, among others, are the key market players, according to the report.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Install Vehicle |
|
| Breakup by Mode of Operation |
|
| Breakup by Power Source |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
|
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