Truck Transport Refrigeration Equipment Market size is estimated to be USD 5.2 Billion in 2024 and is expected to reach USD 8.3 Billion by 2033 at a CAGR of 5.6% from 2026 to 2033.
South Korea's Truck Transport Refrigeration Equipment Market is experiencing significant growth, driven by the escalating demand for temperature-controlled transportation of perishable goods. This surge is largely attributed to the country's expanding cold chain logistics sector, which ensures the safe delivery of products like fresh produce, dairy, and pharmaceuticals.
In 2023, the South Korean cold chain market achieved revenues of $1.08 billion, marking a compound annual growth rate (CAGR) of 10.7% since 2018. Notably, the fruits and vegetables segment dominated, generating $525.8 million and accounting for 48.5% of the market's total value. Projections indicate that by 2030, the market could reach approximately $10 billion, reflecting a CAGR of 9.5% from 2024 onwards.
The burgeoning e-commerce industry has notably influenced this growth. The rising popularity of online grocery shopping has intensified the need for efficient refrigerated transportation to maintain product quality during delivery. Additionally, the increasing consumption of frozen foods, driven by busy lifestyles and a growing female workforce, has amplified the demand for reliable refrigeration units in trucks.
Industries such as pharmaceuticals and biotechnology also heavily rely on refrigerated transport. The necessity to maintain specific temperature ranges for products like vaccines and biologics is paramount. With the healthcare cold chain logistics market in South Korea projected to grow at a rate of 11.2% from 2025 to 2033, the demand for advanced truck refrigeration equipment is set to rise correspondingly.
Despite the positive trajectory, the market faces challenges, including stringent environmental regulations and the need for energy-efficient solutions. Manufacturers are thus investing in innovative technologies to develop eco-friendly refrigeration units that comply with these standards.
Key players in the South Korean Truck Transport Refrigeration Equipment Market include Lotte Logistics, CJ Logistics, and Dongwon Industrial. These companies are expanding their fleets and integrating advanced refrigeration technologies to meet the growing demands of various industries.
In summary, the South Korean Truck Transport Refrigeration Equipment Market is on an upward trend, propelled by the increasing need for temperature-controlled logistics across multiple sectors. As industries continue to prioritize product integrity during transit, the demand for sophisticated refrigeration solutions is expected to remain robust.
Get an In-Depth Research Analysis of the South Korea Truck Transport Refrigeration Equipment Market Size And Forecast [2025-2032]
Thermo King
Carrier Transicold
DENSO
Wabash National
Lamberet
MHI
Chereau
Great Dane
Zanotti
Kingtec
FRIGOBLOCK
GAH Refrigeration
Morgan
Sainte Marie
Hubbard
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. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. 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.
Get Discount On The Purchase of the South Korea Truck Transport Refrigeration Equipment Market Size And Forecast [2025-2032]
Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Truck Transport Refrigeration Equipment Market
Transport Refrigeration Units
Direct Drive Systems
Diesel-powered Units
Electric Standby Systems
Frozen Temperature Range (-20°C to 0°C)
Chilled Temperature Range (0°C to 10°C)
Ambient Temperature Range (10°C to 25°C)
Food and Beverage Transport
Pharmaceuticals Transport
Floral and Horticultural Products
Chemical Transport
Light Commercial Vehicles
Heavy-Duty Trucks
Vans
Reefer Trucks
Compressors
Evaporators
Condensers
Insulation Systems
Refrigerants
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
For More Information or Query, Visit @ South Korea Truck Transport Refrigeration Equipment Market Research Analysis
1. Introduction of the South Korea Truck Transport Refrigeration Equipment 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. South Korea Truck Transport Refrigeration Equipment Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Truck Transport Refrigeration Equipment Market, By Type
6. South Korea Truck Transport Refrigeration Equipment Market, By Application
7. South Korea Truck Transport Refrigeration Equipment Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Truck Transport Refrigeration Equipment Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
About Us: Verified Market Reports
Verified Market Reports is a leading Research and Consulting firm servicing over 5000+ clients. We provide advanced analytical research solutions while offering information-enriched research studies. We also offer insights into strategic and growth analyses and data necessary to achieve corporate goals and critical revenue decisions.
Our 250 Analysts and SMEs offer a high level of expertise in data collection and governance using industrial techniques to collect and analyze data on more than 25,000 high-impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise, and years of collective experience to produce informative and accurate research.
Contact us:
Mr. Edwyne Fernandes
US: +1 (650)-781-4080
US Toll-Free: +1 (800)-782-1768
Website: https://www.verifiedmarketreports.com/