Refrigerated Freight Service Market size was valued at USD XX Billion in 2024 and is forecasted to grow at a CAGR of ZZ% from 2026 to 2033, reaching USD YY Billion by 2033.
The global refrigerated freight service market was valued at approximately USD 17.9 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030. The growth of the market is driven by increasing demand for perishable goods such as food, pharmaceuticals, and chemicals. Technological advancements in refrigeration systems, along with the need for secure and efficient cold chain logistics, have contributed significantly to market expansion. The growing global trade of temperature sensitive products has further propelled the demand for refrigerated freight services. By the end of the forecast period, the market is expected to reach a value of approximately USD 32.3 billion by 2030, highlighting significant potential for market players and investors.
Regionally, North America holds the largest share of the refrigerated freight service market, with a market size of around USD 6.5 billion in 2022. The presence of a well established logistics infrastructure and high demand for refrigerated transport of food and medical products contributes to this dominance. Europe is the second largest market, valued at approximately USD 5.1 billion in 2022, with increasing demand for fresh food and pharmaceuticals, as well as the development of advanced cold chain logistics. The Asia Pacific region is expected to experience the highest growth, with a projected CAGR of 8.1% during the forecast period, driven by rising disposable incomes, improving trade routes, and expanding cold storage facilities. The Latin American and Middle East & Africa regions also present significant opportunities due to the growing emphasis on food safety and the need for efficient cold transport networks.
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Ryder System
Fraikin Limited
Penske Corporation
Petit Forestier
The Hertz Corporation
Polar Leasing
U-COOL Refrigeration
ReeferTek USA
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Refrigerated Freight Service Market
Full Truckload (FTL)
Less Than Truckload (LTL)
Intermodal
Temperature-Controlled Rail
Food & Beverages
Pharmaceuticals
Chemicals
Others
Retailers
Wholesalers
Third-Party Logistics Providers (3PL)
Manufacturers
Refrigerated
Frozen
Ambient
Refrigerated Trucks
Refrigerated Vans
Refrigerated Trailers
Containerized Refrigerated Vehicles
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Refrigerated Freight Service Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Refrigerated Freight Service Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Refrigerated Freight Service Market, By Type
6. Global Refrigerated Freight Service Market, By Application
7. Global Refrigerated Freight Service Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Refrigerated Freight Service Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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