Transport Refrigeration Units Market Size, Share, and Trends Analysis Report
CAGR :
| Market Size 2024 (Base Year) | USD 5.28 Billion |
| Market Size 2032 (Forecast Year) | USD 7.3 Billion |
| CAGR | 4.13% |
| Forecast Period | 2025 - 2032 |
| Historical Period | 2020 - 2024 |
According to a recent study by Market Research Store, the global transport refrigeration units market size was valued at approximately USD 5.28 Billion in 2024. The market is projected to grow significantly, reaching USD 7.3 Billion by 2032, growing at a compound annual growth rate (CAGR) of 4.13% during the forecast period from 2024 to 2032. The report highlights key growth drivers such as rising demand, technological advancements, and expanding applications. It also outlines potential challenges like regulatory changes and market competition, while emphasizing emerging opportunities for innovation and investment in the transport refrigeration units industry.
Transport Refrigeration Units Market: Overview
The growth of the transport refrigeration units market is fueled by rising global demand across various industries and applications. The report highlights lucrative opportunities, analyzing cost structures, key segments, emerging trends, regional dynamics, and advancements by leading players to provide comprehensive market insights. The transport refrigeration units market report offers a detailed industry analysis from 2024 to 2032, combining quantitative and qualitative insights. It examines key factors such as pricing, market penetration, GDP impact, industry dynamics, major players, consumer behavior, and socio-economic conditions. Structured into multiple sections, the report provides a comprehensive perspective on the market from all angles.
Key sections of the transport refrigeration units market report include market segments, outlook, competitive landscape, and company profiles. Market Segments offer in-depth details based on product type, Products Application, and other relevant classifications to support strategic marketing initiatives. Market Outlook thoroughly analyzes market trends, growth drivers, restraints, opportunities, challenges, Porter’s Five Forces framework, macroeconomic factors, value chain analysis, and pricing trends shaping the market now and in the future. The Competitive Landscape and Company Profiles section highlights major players, their strategies, and market positioning to guide investment and business decisions. The report also identifies innovation trends, new business opportunities, and investment prospects for the forecast period.
Key Highlights:
- As per the analysis shared by our research analyst, the global transport refrigeration units market is estimated to grow annually at a CAGR of around 4.13% over the forecast period (2025-2032).
- In terms of revenue, the global transport refrigeration units market size was valued at around USD 5.28 Billion in 2024 and is projected to reach USD 7.3 Billion by 2032.
- The market is projected to grow at a significant rate due to Increasing demand for temperature-controlled logistics, growing adoption in food and pharmaceutical transport, and rising global trade of perishable goods are driving the Transport Refrigeration Units market.
- Based on the product type, the Land Ways segment is growing at a high rate and will continue to dominate the global market as per industry projections.
- On the basis of Products Application, the Food Industry segment is anticipated to command the largest market share.
- Based on region, North America is projected to dominate the global market during the forecast period.
Transport Refrigeration Units Market: Report Scope
This report thoroughly analyzes the transport refrigeration units market, exploring its historical trends, current state, and future projections. The market estimates presented result from a robust research methodology, incorporating primary research, secondary sources, and expert opinions. These estimates are influenced by the prevailing market dynamics as well as key economic, social, and political factors. Furthermore, the report considers the impact of regulations, government expenditures, and advancements in research and development on the market. Both positive and negative shifts are evaluated to ensure a comprehensive and accurate market outlook.
| Report Attributes | Report Details |
|---|---|
| Report Name | Transport Refrigeration Units Market |
| Market Size in 2024 | USD 5.28 Billion |
| Market Forecast in 2032 | USD 7.3 Billion |
| Growth Rate | CAGR of 4.13% |
| Number of Pages | 214 |
| Key Companies Covered | Mitsubishi Heavy Industries Group, Heinen and Hopman, Thermo King, DAIKIN Industries, Carrier, Klinge Corporation, Seamark Reefer Solutions, Webasto, Linde, TLS Offshore Containers |
| Segments Covered | By product type, By Products Application, and By Region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA) |
| Base Year | 2024 |
| Historical Year | 2020 to 2024 |
| Forecast Year | 2025 to 2032 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Transport Refrigeration Units Market: Dynamics
Key Growth Drivers :
The transport refrigeration units (TRU) market is driven by the booming global demand for perishable goods. The expansion of the cold chain logistics industry is a major factor, fueled by the rising consumption of fresh produce, dairy, frozen foods, and meat, as well as the need for temperature-controlled transport for pharmaceuticals like vaccines and biologics. The growth of e-commerce and quick commerce for online grocery and food delivery has created a strong need for reliable last-mile refrigerated transport. Additionally, increasing consumer awareness of food safety and quality, along with stringent government regulations on the handling and transportation of temperature-sensitive products, are compelling businesses to invest in advanced and reliable TRUs.
Restraints :
The market faces several significant restraints, with the high initial cost of purchasing and installing advanced refrigeration units being a primary one. This is particularly challenging for small and medium-sized transport businesses. The high operational costs, mainly due to fluctuating fuel prices for diesel-powered units and the energy consumption required to maintain cooling, can also impact profitability. Furthermore, the complexity of maintaining and repairing these units, along with a shortage of skilled technicians, can lead to costly downtime and operational inefficiencies.
Opportunities :
Significant opportunities lie in the development of sustainable and technologically advanced solutions. There's a growing demand for electric and hybrid TRUs to reduce emissions and comply with environmental regulations, providing a major area for innovation. The integration of telematics, IoT sensors, and AI-driven monitoring systems offers an opportunity to enhance efficiency, enable real-time tracking, and provide predictive maintenance, reducing the risk of spoilage. The expansion into niche applications, such as the transportation of high-value chemicals, floral products, and other temperature-sensitive goods, also presents new growth avenues.
Challenges :
The market is challenged by the need to balance performance with environmental sustainability. The industry is under pressure to move away from refrigerants with high global warming potential (GWP) and adopt more eco-friendly alternatives. The complex and diverse regulatory landscape across different countries adds a layer of difficulty, as manufacturers must ensure their products meet various standards for safety, emissions, and energy efficiency. Additionally, managing the volatile costs of raw materials and dealing with supply chain disruptions can make it difficult for manufacturers to maintain stable production and pricing.
Transport Refrigeration Units Market: Segmentation Insights
The global transport refrigeration units market is segmented based on product type, Products Application, and Region. All the segments of the transport refrigeration units market have been analyzed based on present & future trends and the market is estimated from 2024 to 2032.
Based on product type, the global transport refrigeration units market is divided into Land Ways, Seaways, Airways.
On the basis of Products Application, the global transport refrigeration units market is bifurcated into Food Industry, Pharmaceutical Industry, Others.
Transport Refrigeration Units Market: Regional Insights
North America, led by the United States, is the dominant region in the global transport refrigeration units market. This leadership is driven by an extensive and advanced cold chain logistics network, high demand for perishable goods, and stringent food safety regulations.
The region's large pharmaceutical industry, which requires precise temperature control for biologics and vaccines, further fuels market growth. While Asia-Pacific is experiencing rapid growth due to expanding cold chain infrastructure, North America's mature logistics sector, strict compliance standards, and high adoption of advanced refrigeration technologies solidify its position as the largest revenue-generating market for transport refrigeration units.
Transport Refrigeration Units Market: Competitive Landscape
The transport refrigeration units market report offers a thorough analysis of both established and emerging players within the market. It includes a detailed list of key companies, categorized based on the types of products they offer and other relevant factors. The report also highlights the market entry year for each player, providing further context for the research analysis.
The "Global Transport Refrigeration Units Market" study offers valuable insights, focusing on the global market landscape, with an emphasis on major industry players such as;
- Mitsubishi Heavy Industries Group
- Heinen and Hopman
- Thermo King
- DAIKIN Industries
- Carrier
- Klinge Corporation
- Seamark Reefer Solutions
- Webasto
- Linde
- TLS Offshore Containers
The Global Transport Refrigeration Units Market is Segmented as Follows:
By product type
- Land Ways
- Seaways
- Airways
By Products Application
- Food Industry
- Pharmaceutical Industry
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Frequently Asked Questions
Table Of Content
List of Tables and Figures Figure Product Picture of Transport Refrigeration Units Table Product Specification of Transport Refrigeration Units Figure Market Concentration Ratio and Market Maturity Analysis of Transport Refrigeration Units Figure Global Transport Refrigeration Units Value ($) and Growth Rate from 2014-2024 Table Different Types of Transport Refrigeration Units Figure Global Transport Refrigeration Units Value ($) Segment by Type from 2014-2019 Figure Land Route Picture Figure Sea Route Picture Figure Air Route Picture Table Different Applications of Transport Refrigeration Units Figure Global Transport Refrigeration Units Value ($) Segment by Applications from 2014-2019 Figure Food Industry Picture Figure Pharmaceutical Industry Picture Figure Others. Picture Table Research Regions of Transport Refrigeration Units Figure North America Transport Refrigeration Units Production Value ($) and Growth Rate (2014-2019) Figure Europe Transport Refrigeration Units Production Value ($) and Growth Rate (2014-2019) Table China Transport Refrigeration Units Production Value ($) and Growth Rate (2014-2019) Table Japan Transport Refrigeration Units Production Value ($) and Growth Rate (2014-2019) Table Middle East & Africa Transport Refrigeration Units Production Value ($) and Growth Rate (2014-2019) Table India Transport Refrigeration Units Production Value ($) and Growth Rate (2014-2019) Table South America Transport Refrigeration Units Production Value ($) and Growth Rate (2014-2019) Table Emerging Countries of Transport Refrigeration Units Table Growing Market of Transport Refrigeration Units Figure Industry Chain Analysis of Transport Refrigeration Units Table Upstream Raw Material Suppliers of Transport Refrigeration Units with Contact Information Table Major Players Manufacturing Base and Market Share ($) of Transport Refrigeration Units in 2018 Table Major Players Transport Refrigeration Units Product Types in 2018 Figure Production Process of Transport Refrigeration Units Figure Manufacturing Cost Structure of Transport Refrigeration Units Figure Channel Status of Transport Refrigeration Units Table Major Distributors of Transport Refrigeration Units with Contact Information Table Major Downstream Buyers of Transport Refrigeration Units with Contact Information Table Global Transport Refrigeration Units Value ($) by Type (2014-2019) Table Global Transport Refrigeration Units Value ($) Share by Type (2014-2019) Figure Global Transport Refrigeration Units Value ($) Share by Type (2014-2019) Table Global Transport Refrigeration Units Production by Type (2014-2019) Table Global Transport Refrigeration Units Production Share by Type (2014-2019) Figure Global Transport Refrigeration Units Production Share by Type (2014-2019) Figure Global Transport Refrigeration Units Value ($) and Growth Rate of Land Route Figure Global Transport Refrigeration Units Value ($) and Growth Rate of Sea Route Figure Global Transport Refrigeration Units Value ($) and Growth Rate of Air Route Figure Global Transport Refrigeration Units Price by Type (2014-2019) Table Global Transport Refrigeration Units Consumption by Application (2014-2019) Table Global Transport Refrigeration Units Consumption Market Share by Application (2014-2019) Figure Global Transport Refrigeration Units Consumption Market Share by Application (2014-2019) Table Downstream Buyers Introduction by Application Figure Global Transport Refrigeration Units Consumption and Growth Rate of Food Industry (2014-2019) Figure Global Transport Refrigeration Units Consumption and Growth Rate of Pharmaceutical Industry (2014-2019) Figure Global Transport Refrigeration Units Consumption and Growth Rate of Others. (2014-2019) Table Global Transport Refrigeration Units Value ($) by Region (2014-2019) Table Global Transport Refrigeration Units Value ($) Market Share by Region (2014-2019) Figure Global Transport Refrigeration Units Value ($) Market Share by Region (2014-2019) Table Global Transport Refrigeration Units Production by Region (2014-2019) Table Global Transport Refrigeration Units Production Market Share by Region (2014-2019) Figure Global Transport Refrigeration Units Production Market Share by Region (2014-2019) Table Global Transport Refrigeration Units Production, Value ($), Price and Gross Margin (2014-2019) Table North America Transport Refrigeration Units Production, Value ($), Price and Gross Margin (2014-2019) Table Europe Transport Refrigeration Units Production, Value ($), Price and Gross Margin (2014-2019) Table China Transport Refrigeration Units Production, Value ($), Price and Gross Margin (2014-2019) Table Japan Transport Refrigeration Units Production, Value ($), Price and Gross Margin (2014-2019) Table Middle East & Africa Transport Refrigeration Units Production, Value ($), Price and Gross Margin (2014-2019) Table India Transport Refrigeration Units Production, Value ($), Price and Gross Margin (2014-2019) Table South America Transport Refrigeration Units Production, Value ($), Price and Gross Margin (2014-2019) Table Global Transport Refrigeration Units Consumption by Regions (2014-2019) Figure Global Transport Refrigeration Units Consumption Share by Regions (2014-2019) Table North America Transport Refrigeration Units Production, Consumption, Export, Import (2014-2019) Table Europe Transport Refrigeration Units Production, Consumption, Export, Import (2014-2019) Table China Transport Refrigeration Units Production, Consumption, Export, Import (2014-2019) Table Japan Transport Refrigeration Units Production, Consumption, Export, Import (2014-2019) Table Middle East & Africa Transport Refrigeration Units Production, Consumption, Export, Import (2014-2019) Table India Transport Refrigeration Units Production, Consumption, Export, Import (2014-2019) Table South America Transport Refrigeration Units Production, Consumption, Export, Import (2014-2019) Figure North America Transport Refrigeration Units Production and Growth Rate Analysis Figure North America Transport Refrigeration Units Consumption and Growth Rate Analysis Figure North America Transport Refrigeration Units SWOT Analysis Figure Europe Transport Refrigeration Units Production and Growth Rate Analysis Figure Europe Transport Refrigeration Units Consumption and Growth Rate Analysis Figure Europe Transport Refrigeration Units SWOT Analysis Figure China Transport Refrigeration Units Production and Growth Rate Analysis Figure China Transport Refrigeration Units Consumption and Growth Rate Analysis Figure China Transport Refrigeration Units SWOT Analysis Figure Japan Transport Refrigeration Units Production and Growth Rate Analysis Figure Japan Transport Refrigeration Units Consumption and Growth Rate Analysis Figure Japan Transport Refrigeration Units SWOT Analysis Figure Middle East & Africa Transport Refrigeration Units Production and Growth Rate Analysis Figure Middle East & Africa Transport Refrigeration Units Consumption and Growth Rate Analysis Figure Middle East & Africa Transport Refrigeration Units SWOT Analysis Figure India Transport Refrigeration Units Production and Growth Rate Analysis Figure India Transport Refrigeration Units Consumption and Growth Rate Analysis Figure India Transport Refrigeration Units SWOT Analysis Figure South America Transport Refrigeration Units Production and Growth Rate Analysis Figure South America Transport Refrigeration Units Consumption and Growth Rate Analysis Figure South America Transport Refrigeration Units SWOT Analysis Figure Top 3 Market Share of Transport Refrigeration Units Companies Figure Top 6 Market Share of Transport Refrigeration Units Companies Table Mergers, Acquisitions and Expansion Analysis Table Company Profiles Table Product Introduction Table MITSUBISHI HEAVY INDUSTRIES Production, Value ($), Price, Gross Margin 2014-2019 Figure MITSUBISHI HEAVY INDUSTRIES Production and Growth Rate Figure MITSUBISHI HEAVY INDUSTRIES Value ($) Market Share 2014-2019 Figure MITSUBISHI HEAVY INDUSTRIES Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Company Profiles Table Product Introduction Table Wabash National Corporation Production, Value ($), Price, Gross Margin 2014-2019 Figure Wabash National Corporation Production and Growth Rate Figure Wabash National Corporation Value ($) Market Share 2014-2019 Figure Wabash National Corporation Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Company Profiles Table Product Introduction Table Schmitz Cargobull Production, Value ($), Price, Gross Margin 2014-2019 Figure Schmitz Cargobull Production and Growth Rate Figure Schmitz Cargobull Value ($) Market Share 2014-2019 Figure Schmitz Cargobull Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Company Profiles Table Product Introduction Table Carrier Production, Value ($), Price, Gross Margin 2014-2019 Figure Carrier Production and Growth Rate Figure Carrier Value ($) Market Share 2014-2019 Figure Carrier Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Company Profiles Table Product Introduction Table China International Marine Containers Production, Value ($), Price, Gross Margin 2014-2019 Figure China International Marine Containers Production and Growth Rate Figure China International Marine Containers Value ($) Market Share 2014-2019 Figure China International Marine Containers Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Company Profiles Table Product Introduction Table LAMBERET Production, Value ($), Price, Gross Margin 2014-2019 Figure LAMBERET Production and Growth Rate Figure LAMBERET Value ($) Market Share 2014-2019 Figure LAMBERET Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Company Profiles Table Product Introduction Table Ingersoll Rand Production, Value ($), Price, Gross Margin 2014-2019 Figure Ingersoll Rand Production and Growth Rate Figure Ingersoll Rand Value ($) Market Share 2014-2019 Figure Ingersoll Rand Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Company Profiles Table Product Introduction Table CHEREAU Production, Value ($), Price, Gross Margin 2014-2019 Figure CHEREAU Production and Growth Rate Figure CHEREAU Value ($) Market Share 2014-2019 Figure CHEREAU Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Company Profiles Table Product Introduction Table Great Dane Production, Value ($), Price, Gross Margin 2014-2019 Figure Great Dane Production and Growth Rate Figure Great Dane Value ($) Market Share 2014-2019 Figure Great Dane Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Company Profiles Table Product Introduction Table Morgan Corporation Production, Value ($), Price, Gross Margin 2014-2019 Figure Morgan Corporation Production and Growth Rate Figure Morgan Corporation Value ($) Market Share 2014-2019 Figure Morgan Corporation Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Company Profiles Table Product Introduction Table Hubbard Products Production, Value ($), Price, Gross Margin 2014-2019 Figure Hubbard Products Production and Growth Rate Figure Hubbard Products Value ($) Market Share 2014-2019 Figure Hubbard Products Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Company Profiles Table Product Introduction Table Utility Trailer Manufacturing Company Production, Value ($), Price, Gross Margin 2014-2019 Figure Utility Trailer Manufacturing Company Production and Growth Rate Figure Utility Trailer Manufacturing Company Value ($) Market Share 2014-2019 Figure Utility Trailer Manufacturing Company Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Company Profiles Table Product Introduction Table LAMILUX Production, Value ($), Price, Gross Margin 2014-2019 Figure LAMILUX Production and Growth Rate Figure LAMILUX Value ($) Market Share 2014-2019 Figure LAMILUX Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Company Profiles Table Product Introduction Table DAIKIN INDUSTRIES Production, Value ($), Price, Gross Margin 2014-2019 Figure DAIKIN INDUSTRIES Production and Growth Rate Figure DAIKIN INDUSTRIES Value ($) Market Share 2014-2019 Figure DAIKIN INDUSTRIES Market Share of Transport Refrigeration Units Segmented by Region in 2018 Table Global Transport Refrigeration Units Market Value ($) Forecast, by Type Table Global Transport Refrigeration Units Market Volume Forecast, by Type Figure Global Transport Refrigeration Units Market Value ($) and Growth Rate Forecast of Land Route (2019-2024) Figure Global Transport Refrigeration Units Market Volume and Growth Rate Forecast of Land Route (2019-2024) Figure Global Transport Refrigeration Units Market Value ($) and Growth Rate Forecast of Sea Route (2019-2024) Figure Global Transport Refrigeration Units Market Volume and Growth Rate Forecast of Sea Route (2019-2024) Figure Global Transport Refrigeration Units Market Value ($) and Growth Rate Forecast of Air Route (2019-2024) Figure Global Transport Refrigeration Units Market Volume and Growth Rate Forecast of Air Route (2019-2024) Table Global Market Value ($) Forecast by Application (2019-2024) Table Global Market Volume Forecast by Application (2019-2024) Figure Global Transport Refrigeration Units Consumption and Growth Rate of Food Industry (2014-2019) Figure Global Transport Refrigeration Units Consumption and Growth Rate of Pharmaceutical Industry (2014-2019) Figure Global Transport Refrigeration Units Consumption and Growth Rate of Others. (2014-2019) Figure Market Value ($) and Growth Rate Forecast of Others. (2019-2024) Figure Market Volume and Growth Rate Forecast of Others. (2019-2024) Figure North America Market Value ($) and Growth Rate Forecast (2019-2024) Table North America Consumption and Growth Rate Forecast (2019-2024) Figure Europe Market Value ($) and Growth Rate Forecast (2019-2024) Table Europe Consumption and Growth Rate Forecast (2019-2024) Figure China Market Value ($) and Growth Rate Forecast (2019-2024) Table China Consumption and Growth Rate Forecast (2019-2024) Figure Japan Market Value ($) and Growth Rate Forecast (2019-2024) Table Japan Consumption and Growth Rate Forecast (2019-2024) Figure Middle East & Africa Market Value ($) and Growth Rate Forecast (2019-2024) Table Middle East & Africa Consumption and Growth Rate Forecast (2019-2024) Figure India Market Value ($) and Growth Rate Forecast (2019-2024) Table India Consumption and Growth Rate Forecast (2019-2024) Figure South America Market Value ($) and Growth Rate Forecast (2019-2024) Table South America Consumption and Growth Rate Forecast (2019-2024) Figure Industry Resource/Technology/Labor Importance Analysis Table New Entrants SWOT Analysis Table New Project Analysis of Investment Recovery
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