USD 48.04 Billion
Report ID:
SQMIG20I2367 |
Region:
Global |
Published Date: May, 2025
Pages:
196
|Tables:
147
|Figures:
68
Global Refrigerated Trailer market size was valued at USD 48.04 Billion in 2023 and is poised to grow from USD 50.10 Billion in 2024 to USD 69.01 Billion by 2032, growing at a CAGR of 4.10% in the forecast period (2025-2032).
The primary driver boosting the global refrigerated trailer market growth is the rapid growth of cold chain logistics. Industries such as food and beverage, pharmaceuticals, and many more depend on refrigerated trailers, especially for their temperature-sensitive and perishable goods’ transport.
The growth of e-commerce and international trade is further pushing the market to newer heights. Global expansion of Quick Service Restaurants (QSRs), supermarket chains, and convenience stores are also key driving factors for efficient refrigerated logistics.
However, environmental concerns and regulatory pressure regarding the emissions from diesel powered refrigerated trailers and the high upfront costs of these trailers have emerged to be critical challenges for refrigerated trailer market across the globe. A refrigerated trailer uses about 1500 gallons of diesel annually and 1 gallon of diesel burned emits approximately 10.2 kg of CO2. This shows the contribution of these systems towards GHG emissions. The market is also facing roadblocks due to rising fuel costs that add up to the overall expenditure on refrigerated trailers.
Can Electrification & Hybrid Refrigeration Systems bring Transformation to the Market?
Electrifying Refrigerated trailers are transforming market dynamics. Companies are moving away from diesel-powered Trailer Refrigeration Units (TRUs) and shifting towards hybrid and electric refrigeration systems. This strategic move is undertaken by them to meet zero-emission goals and comply with emission regulations such as Ultra Low Emission Zone (ULEZ) emissions standards in the UK and California Air Resources Board (CARB) rules. Thermo King’s AxlePower, a system which recovers and generates electricity from trailers to power 100% electric refrigeration in trailers is one such example. This highlights how sustainability and low emission refrigerated trailers are the want of the hour. Using electrification in their refrigerated trailers, companies will be able to cut down on operational costs and carbon footprints both.
Market snapshot - 2025-2032
Global Market Size
USD 48.04 Billion
Largest Segment
Oil-filled Centrifugal Compressors
Fastest Growth
Oil-filled Centrifugal Compressors
Growth Rate
4.10% CAGR
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The global refrigerated trailer market is segmented into type, trailer type, temperature range, size/capacity, application, and region. By type, the market is classified into single temperature, multi temperature and cryogenic. Depending on trailer type, it is divided into standard, doppelstock / doubledeck, two-chamber and others. By temperature range, the market is classified into frozen (Below 0°C), chilled (1°C - 8°C) and ambient temperature (10°C - 25°C). Depending on size/capacity, it is divided into small capacity (less than 15 tons), medium capacity (15 - 25 tons) and large capacity (more than 25 tons). According to application, the market is categorized into food and beverage, pharmaceuticals, chemical, agriculture and others. Regionally, the market is analyzed across North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
As per the 2024 global refrigerated trailer market analysis, the single temperature sub segment led the market by holding the largest share. The sub-segment's leadership is due to its wide use in the transportation of perishable items like dairy, meat, pharmaceuticals, etc. These trailers maintain one temperature and transport large quantities of goods over long-haul, all staying at the same temperature. They are cost-efficient and simpler to operate and maintain. They find application across food and beverage, and pharmaceuticals supply chain logistics. This makes them top choices among logistics companies and other such end users and reinstates the dominance of this sub-segment.
Multi temperature is becoming the fastest growing sub segment. This is due to its advantages of providing flexibility for transporting various goods at the same time. They have multiple compartments, each of them having their own temperature control. Thus, they are a good choice for last-mile and urban deliveries which are steadily growing and mixed items like dairy, frozen food, and fresh produce are being transported at the same time. All of these factors are contributing to the fast growth rate of this category.
The food and beverages category in the application segment is the most dominant in the global refrigerated trailer market. Food items such as perishable items such as dairy, meat, seafood, frozen foods, and beverages are perishable and therefore require to be kept in controlled temperature setting while transportation. The global population is increasing. Retail chains are expanding. Thus, the industry witnesses a high consumption volume and constant product movement through supply chains. This segment also benefits from strict food safety regulations and the demand for freshness across long distances. All of these factors together ensure its dominance in the market.
The pharmaceuticals category is the fastest-growing application area for refrigerated trailers. Refrigerated trailers find application in this sector for transporting temperature-sensitive medical supplies, vaccines, and biologics. European Pharmaceutical Manufacturer, a publisher covering the pharma/biopharma manufacturing supply chain, predicts the transformation as a result of expansion of cold chain networks. This, along with the rising prevalence of biologic drugs calls for precise temperature control. As a result, pharmaceuticals have emerged as the fastest growing sub-segment in the market.
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The Europe refrigerated trailer market emerges as the most dominant refrigerated trailer market in the world. The region's importance can be attributed to the strong cold chain infrastructure, strict regulations around food safety regulations and pharmaceuticals, and demand for perishable goods among the people residing here. Companies such as Schmitz Cargobull AG, Kogel Trailer GmbH & Co. KG, Gray & Adams and many more headquartered in the region also enjoy key positions in the market. Germany emerges as a hub for refrigerated trailers. The presence of advanced logistics networks and strict temperature control compliance further fuels demand, making Europe a hub for refrigerated trailers.
In Europe, Germany leads the refrigerated trailer market especially due to its advanced automotive sector and efficient logistics network. The country has presence of global players including Schmitz Cargobull, Kogel Trailer, KRESS Fahrzeugbau, etc. Sunswap, a company working in transport refrigeration, launched the zero-emission Endurance unit in Germany during IAA Transportation 2024. This comes at a time when the country is pushing for decarbonizing cold chain logistics. This step is crucial in a market where Germany leads Europe in refrigerated trailer demand.
U.K. in Europe is not far behind Germany. The country has the presence of key global players in the refrigerated trailer market such as Gray & Adams. The country has an exorbiant food and pharmaceutical logistics sectors and decarbonization targets that are quite ambitious. There are over 55,000 diesel-powered refrigerated trailers in operation in the UK. This creates a demand for cleaner alternatives. In April 2025, Birds Eye, a frozen foods brand, in partnership with DFDS and Sunswap, rolled out solar-powered refrigerated trailers in the UK. This shows the demand for clean energy refrigerated trailers in the country.
Asia Pacific is predicted to grow at the highest rate in the refrigerated trailer market over the projection period of 2025-2032. The growth in the region is led by the increasing urbanization and the rising consumption of frozen and processed goods that the region has been witnessing in recent years. Many people in countries like India, China, Japan, South Korea, etc are increasingly consuming packaged food. The growing frozen and processed foods in the region also contribute to the region’s growth.
China’s market growth is spurred by its vast massive consumption of frozen foods, and rapid urbanization. The country is witnessing growth in the e-commerce and logistics spaces. This creates a huge opportunity for refrigerated trailers in these industries. China's expanding domestic logistics network and pharmaceutical industry also allows for market growth. Thermo King has launched the LEGEND trailer refrigeration units with production in Wujiang, China, highlighting China’s increasing adoption of refrigerated trailer technologies.
The Indian refrigerated trailer market is expanding due to various reasons. This expansion can be contributed to a changing market landscape that is seeing increasing demand for cold storage in agriculture, dairy, seafood, and pharmaceuticals. India's push through the National Centre for Cold-chain Development (NCCD) which has been established to promote integrated cold-chain in India and rising private investment in retail e-commerce in the country are transforming the landscape. In September 2024, the National Institute of Food Technology Entrepreneurship and Management, Kundli (NIFTEM-K) developed SARTHI which is a smart, solar-assisted reefer transport system. It has dual compartments, is integrated with IoT and has hybrid power to reduce post-harvest losses of fruits and vegetables. This sets a new benchmark for refrigerated transport and trailers in India.
North America held a significant market share in 2024 and is likely to continue so during the forecast period of 2025-2032. The region has a strong cold chain and transportation infrastructure and a high demand for perishable goods. There is also a high demand among North American consumers for online grocery shopping which encourages the adoption of refrigerated trailers for transport of bulk perishable items. All in all, North America remains a key contributor to the global refrigerated trailer market.
U.S. is the largest North American market for refrigerated trailer. The country has its focus on the agricultural sector and a growing demand for temperature-sensitive goods. There are about 500,000 Refrigerated Trailers in service in the United States. Technological advancements in refrigerated trailers also play impacting roles in the market. These factors contribute to steady demand for refrigerated trailers.
Canada’s refrigerated trailer market is rapidly expanding. The country’s demand for refrigerated trailers can be attributed to the increasing demand for perishable goods across its expansive geography. Consumer preference for for fresh and frozen products necessitating good cold chain solutions underpins the demand for refrigerated trailers by logistics companies operating in Canada and makes it an attractive market for refrigerated trailers.
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Increasing Demand for Frozen & Perishable Items
Unprecedented Growth of E-commerce and Global Trade
High Initial Investments
Rising Costs of Fuel
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The market is very competitive with companies like Utility Trailer, Schmitz Cargobull, Wabash National, Great Dane, and Krone redefining the market landscape. To remain competitive and relevant in the refrigerated trailer market, these companies focus on expansion through innovation, acquisitions, and regional expansion. Other tactics that businesses use to stay at the top of their game include investing in incorporating modern features in refrigerated trailers. For example, In May 2025, Utility Trailer had introduced advanced features for its 3000R refrigerated trailers to improve and enhance multi-temp versatility and payload capacity.
Emerging Trends Shaping the Future of Refrigerated Trailer
Focus on Food Safety & Pharmaceutical Regulations Compliance
Integration of Telematics & Smart Monitoring
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the huge demand of temperature-sensitive and packaged products from the food and beverage, pharmaceuticals, agriculture and chemical industries is set to drive the global refrigerated trailer market outlook to progress. In regions like the EU and the US, compliance with strict food safety regulations and pharmaceutical storage rules forces companies to adopt refrigerated trailers and increases its demand. Europe secures its position as the most dominant region for the market with Asia Pacific following close behind. Companies in the market are adopting modern technologies such as telematics and IoT to increase efficiency. The regulatory and environmental concerns surrounding GHG emissions of diesel-powered trailers and high initial investments and upfront costs can stand as massive roadblocks. However, increasing demand for cold chain logistics ensures that the market is to observe steady growth.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 48.04 Billion |
Market size value in 2032 | USD 69.01 Billion |
Growth Rate | 4.10% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Refrigerated Trailer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Refrigerated Trailer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Refrigerated Trailer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Refrigerated Trailer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Refrigerated Trailer market size was valued at USD 48.04 Billion in 2023 and is poised to grow from USD 50.10 Billion in 2024 to USD 69.01 Billion by 2032, growing at a CAGR of 4.10% in the forecast period (2025-2032).
The market is very competitive with companies like Utility Trailer, Schmitz Cargobull, Wabash National, Great Dane, and Krone redefining the market landscape. To remain competitive and relevant in the refrigerated trailer market, these companies focus on expansion through innovation, acquisitions, and regional expansion. Other tactics that businesses use to stay at the top of their game include investing in incorporating modern features in refrigerated trailers. For example, In May 2025, Utility Trailer had introduced advanced features for its 3000R refrigerated trailers to improve and enhance multi-temp versatility and payload capacity. 'Great Dane Trailers, Inc (United States)', 'Schmitz Cargobull AG (Germany)', 'Kogel Trailer GmbH & Co. KG (Germany)', 'Gray & Adams (United Kingdom)', 'AVIC International Holdings Group (Lamberet) (China)', 'Utility Trailer Manufacturing Company (United States)', 'Wabash National Corporation (United States)', 'Krone Trailer (Germany)', 'KRESS Fahrzeugbau GmbH (Germany)', 'Polar King International (United States)'
Temperature-sensitive products such as perishable and frozen food, pharmaceuticals, etc. are in huge demand now-a-days. This, in turn, increases the need for refrigerated trailers so that proper temperature control is maintained during transportation. Thus, refrigerated trailers are becoming vital with the need for the growing food and beverage and pharmaceuticals industries worldwide. This need to maintain the quality of these items is contributing to its market growth.
Focus on Food Safety & Pharmaceutical Regulations Compliance:
Why is Europe Leading Refrigerated Trailer Market in 2024?
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Report ID: SQMIG20I2367
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