Refrigerated Transport Market by Application (Chilled food and Frozen food), Mode of Transportation (Road, Sea, Rail, and Air), Vehicle Type (LCV, MHCV, and HCV), Temperature (Single and Multi-temperature), Technology, and Region - Global Forecast (2019-2027)

 The international refrigerated shipping marketplace is anticipated to be worth USD 15.5 billion in 2019 and is projected to reach USD 21.6 billion by 2025, recording a CAGR of 6.32% from 2019 to 2025. The boom of the Refrigerated Transport Market is attributed to the growing exchange of perishable commodities at an international level, as decrease price lists permit ease of cross-border motion of perishable goods.

Technology advancements in refrigeration systems, including the introduction of solutions to help reduce the impact of transportation on the environment, will facilitate their ease of operation. Multi-temperature system integration is yet another opportunity for refrigerated transport service providers and frozen & chilled food product manufacturers. It is forecast, however, that the market growth will remain hindered by challenges such as the maintenance of products during transportation, a lack of infrastructure in emerging countries, and a rise in fuel prices.

On the basis of frozen food products, the fish & seafood segment accounted for the largest share in the refrigerated transport market in 2018

Based on frozen food products, the refrigerated transport market is segmented into bakery products, ice cream, processed meat, frozen dairy products, and fish & seafood. The fish & seafood segment accounted for the largest share in 2018. The market is projected to witness high growth prospects in the fish & seafood segment during the forecast period. Manufacturers are offering frozen and canned food options that promote longer shelf life. Fast-paced lifestyles have led to an increasing preference for home delivery services, as it significantly reduces the cooking time. These factors are projected to create lucrative opportunities for frozen fish & seafood manufacturers and refrigerated transport service providers in the coming years. 

By vehicle type, the LCV segment accounted for the largest market size in the refrigerated transport market during the forecast period

A refrigerated transport market can be categorized by type of vehicle, such as an LCV, MHCV, or HCV. LCVs are expected to dominate the market in 2019 and to grow at the highest CAGR over the forecast period. The growth of the LCV segment is driven by factors such as the high demand for home delivery services and developments in the foodservice sector. Additionally, the demand for refrigerated LCV is being driven by the increased delivery of dairy products and pharmaceuticals by vans in short-distance operations. In addition, financing options such as easy finance for fully built refrigerated LCVs will help bring the sales of refrigerated LCVs up.

Breakup by Mode of Transportation:

• Refrigerated Road Transport

• Refrigerated Sea Transport

• Refrigerated Rail Transport

Breakup by Technology:

• Vapor Compression Systems

• Air-Blown Evaporators

• Eutectic Devices

Breakup by Temperature:

• Single-Temperature

• Multi-Temperature

Breakup by Application:

• Chilled Food Products

• Dairy Products

• Bakery and Confectionery Products

• Fresh Fruits and Vegetables

• Frozen Food Products

  • Frozen Dairy Products

  • Processed Meat Products

  • Fish and Seafood Products