Refrigerated Trailer Market Size & Trends
The global refrigerated trailer market size was estimated at USD 7.24 billion in 2024 and is projected to grow at a CAGR of 6.3% from 2025 to 2030. The market is gaining momentum, driven by increasing demand for perishable goods and the growing expansion of e-commerce and online grocery.
Key Highlights
- The North America refrigerated trailer industry accounted for 38.1% of the global share in 2024.
- The U.S. refrigerated trailer industry held a dominant position in 2024.
- In terms of trailer segment, the single-temperature segment held the largest share of 53.2% in 2024.
- By axle segment, the tandem axle segment held the largest revenue share in 2024.
- By power source, the diesel-powered segment held the largest revenue share in 2024.
Yet, the high initial capital expenditure on refrigerated trailers continues to be a principal hindrance. Increasing technological improvements in refrigeration and tightening environmental regulations are large growth opportunities for the market.
Further, the increasing movement towards electric and energy-saving refrigeration units is likely to drive the uptake of refrigerated trailers even higher, making operations more sustainable and cheaper to operate for fleet owners.
The growth in demand for perishable products is a key growth driver in the refrigerated trailer sector. Online grocery shopping and overall e-commerce have risen with consumers demanding fast and fresh delivery of organic, frozen, and fresh foodstuffs. For instance, retailers such as Walmart and Tesco have increased their online grocery shopping services, resulting in increased demand for cold chain logistics in the form of refrigerated trailers to carry items such as fruits, vegetables, dairy, meats, and frozen food. The food service sector, restaurants, and catering services also rely on refrigerated transport to keep food fresh. The increased demand for cold chain logistics results in the need for more technologically advanced refrigerated trailers.
With the change in consumer behavior towards shopping online, demand for quick, fresh, and secure delivery services has also increased. For example, in India, the e-commerce sector, worth USD 125 billion in 2024, is estimated to increase to USD 345 billion by 2030 with a CAGR of 15%, as per the India Brand Equity Foundation (IBEF). Correspondingly, in the United States, e-commerce sales are projected to increase by 8.1% in 2024, accounting for 16.1% of overall retail sales, according to the U.S. Department of Commerce Census Bureau. This expansion has resulted in a heightened demand for refrigerated trailers to provide safe transportation of perishable materials, such as fresh fruits and vegetables, milk, and frozen foods, for such online grocery stores.
Governments in major markets are imposing tighter emission regulations, which are inducing a transition towards zero-emission transport solutions. The California Air Resources Board (CARB) requires all new trailer Transport Refrigeration Units (TRUs) to be Ultra-Low Emission TRU (ULETRU) compliant from 2023 onwards and is pushing regulations to phase TRUs to zero-emission technology. In the EU, Regulation (EU) 2024/573 caps fluorinated greenhouse gases employed in refrigeration. These policies are accelerating the demand for cleaner technologies. For instance, in September 2024, Trailer Dynamics and THE REEFER Group partnered to launch the eCool Trailer, a fully electric refrigerated trailer that powers both propulsion and refrigeration systems, helping fleets meet regulatory compliance while reducing long-term emissions and operating costs.
The high upfront costs of refrigerated trailers present a significant challenge, particularly for smaller fleet operators. Such advanced units, like electric or hybrid trailers that come equipped with battery systems or energy recovery technology, are often much more expensive than conventional diesel units. An example is Carrier's all-electric Vector eCool trailer that can be as much as USD 30,000 more expensive than a typical diesel refrigeration unit because of its superior features. Also, solar-powered refrigerated trailers, such as those by TIP Group and Valoe in Finland, are big-ticket investments, with projects costing approximately USD 20 million for retrofitting hundreds of trailers. Although these technologies guarantee long-term cost savings, the high up-front costs continue to be an inhibiting factor for many companies considering investing in them.
Report Coverage & Deliverables
- Competitive benchmarking
- Historical data & forecasts
- Company revenue shares
- Regional opportunities
- Latest trends & dynamics
Trailer Insights
The single-temperature segment accounted for the highest market share of 53.2% in 2024. Drivers like rising demand for perishable items, stringent temperature-controlled supply chain conditions, and the rise of e-commerce are driving the growth of the segment. The demand for effective transportation of products like pharmaceuticals, dairy products, and meat products that need constant, consistent temperatures is also fueling this trend.
The multi-temperature segment will observe the highest CAGR between 2025 and 2030. Drivers like the surge in demand for the transportation of mixed perishable items, requirement for versatile temperature zones for various products, and expansion in food service and pharmaceutical sectors are driving the segment. Firms are emphasizing flexible temperature control solutions, combining developments in refrigeration, energy efficiency, and autonomous control. For example, in May 2024, Thermo King launched two new trailer refrigeration units, the E1000M and the Precedent S-750M, at the Advanced Clean Transportation (ACT) Expo. Both units are meant to help fleet sustainability strategies and feature advanced functionality to support multi-temperature operations that allow flexibility in the transportation of combined perishable items through varying temperature zones.
Axle Insights
The tandem axle category accounted for the highest revenue share in 2024, owing to some of the major drivers being the rising demand for trailers with high capacity, the demand for better stability during transportation, and the demand for enhanced handling systems by consumers. The deployment of tandem axles provides enhanced weight distribution, which helps improve performance and safety. Firms operating in the market are concentrating on increasing load capacity, ensuring stability, and incorporating sophisticated suspension systems, which is boosting growth in the tandem axle segment. For example, in April 2024, Air-tow Trailers introduced the innovative ZERO refrigerated trailer with a revolutionary ground-level loading system for safer, speedier, and more efficient management of products. The trailer, with a Thermo King V-320 MAX refrigeration unit, maintains temperatures of up to 0°F and has tandem axles, providing a capacity of 7,000 lbs and a hydraulic lift system.
The triple axle segment is anticipated to achieve a high CAGR over the forecast period. The segment growth is predominantly driven by rising demand for higher load capacity, better stability, and the capacity to carry heavier and bulkier products. Furthermore, the increased demand for efficiency in long-haul transport, coupled with improvements in suspension systems, is fueling the use of triple axle trailers.
Power Source Insights
The diesel-powered category was the greatest revenue earner in 2024, based on its established reliability, vast refueling infrastructure, and affordability for long-haul transportation. Diesel-powered refrigerated trucks are characterized by their sturdy performance, particularly under challenging conditions, and continuous operation for prolonged periods of time without recharging, compared to electric systems. The presence of extensive diesel fueling points across the world provides for easy operation, especially in areas with limited availability of electric charging points.
The electric segment is anticipated to expand at a substantial CAGR over the forecast period. The expansion of the segment is primarily driven by the need for sustainable and environmental-friendly solutions, as well as tightening emissions legislations in markets such as the European Union and California. Besides, the growth of electric vehicle charging infrastructure and advancements in battery technology are enhancing electric-powered trailers' viability and appeal to fleet operators. Electric-powered refrigeration solutions are increasingly being used by companies to minimize emissions and maximize sustainability within the logistics industry. For example, in June 2024, Thermo King, along with Woolworths and DP World, launched Africa's first refrigerated trailer equipped with the Thermo King AxlePower system. This system allows 100% electric refrigeration, which could save up to 27 tonnes of CO2 per year.
End Use Insights
The food & beverage segment accounted for the highest share in 2024. Trends like the rising demand for perishable items, the globalization of supply chains, and the growing popularity of online food delivery are driving the growth of the segment. For example, the growth in e-commerce platforms for grocery and food delivery services, including Walmart and Amazon Fresh, has increased the demand for efficient refrigerated transportation solutions to ensure product freshness throughout the supply chain.
The retail & e-commerce segment is anticipated to develop at a strong CAGR over the forecast period. The segment growth is primarily due to the rising demand for fresh commodities, a faster rise in online grocery services, improvement in last-mile delivery infrastructure, and increasing consumers' expectations of quicker and better delivery of fresh offerings. Firms in the segment are looking to implement innovative solutions like temperature-controlled packaging and electric-powered refrigerated trailers for the safe and efficient delivery of perishables.
Regional Insights
The North America refrigerated trailer market held 38.1% of the world's share in 2024. The North American market is powered by the strong expansion of e-commerce, and grocery online shopping has driven the demand for refrigerated trailers to haul perishables further, as customers need faster and fresher deliveries. Moreover, more stringent environmental laws, like California's Low-Emission Vehicle (LEV) regulation and future zero-emission requirements, are compelling businesses to implement greener refrigerated transport solutions, like electric-powered trailers.
Improvements in last-mile delivery infrastructure, especially in metropolitan cities, are also driving the demand for effective refrigerated solutions to make timely deliveries possible. For example, in October 2023, United Natural Foods Inc. (UNFI) launched a zero-emission refrigerated delivery system at its West Sacramento distribution center with two battery-electric semi-trucks and five regenerative electric refrigerated trailers. The move helps UNFI advance its 2030 emissions reduction target while optimizing logistics efficiency and reducing delivery cost-per-mile in the Sacramento and Gilroy, California markets.
U.S. Refrigerated Trailer Market Trends
The U.S. refrigerated trailer market had the largest share in 2024. The U.S. market is undergoing rapid change, propelled by growing consumer demand for fresh and perishable products, particularly in food & beverage and e-commerce industries. Expansion of cold chain logistics, along with advances in refrigeration systems, continues to increase efficiency levels in operations. Strict environmental policies, including the California Air Resources Board's (CARB) effort to advance low-emission trailers, are also driving the transition to more eco-friendly, electric-powered refrigerated trailers.
Mexico's refrigerated trailer sector is growing strongly, stimulated by increasing demand for chilled and frozen products in food & beverage and pharmaceutical segments. Moreover, developments in infrastructure and logistics centers throughout Mexico are facilitating the transportation of temperature-controlled commodities, adding further impetus to market growth.
Asia Pacific Refrigerated Trailer Market Trends
The Asia Pacific refrigerated trailer market was recognized as a profitable region in 2024 due to the food export industry of the region growing rapidly, with major contributors being India, China, and Southeast Asia. The region is witnessing a transition towards the modernization of cold chain logistics, which is being supplemented by government initiatives like India's National Cold Chain Policy to minimize food wastage and enhance storage and transport infrastructure. Furthermore, the demand for temperature-controlled products, including pharmaceuticals and chemicals, is growing, further propelling the market. The swift growth of Southeast Asian e-commerce sites is fuelling an increase in demand for efficient last-mile cold delivery options.
The China refrigerated trailer market held a significant share in 2024 due to the nation's continued investment in strengthening its cold chain facilities. The Made in China 2025 policy targets supply chain optimization, especially refrigerated shipping. China's increasing need for high-quality foodstuffs, including dairy, meat, and seafood, is driving the demand for refrigerated transport solutions. In addition, the Belt and Road Initiative (BRI) is consolidating trade corridors and driving the demand for cross-border refrigerated transport. Moreover, the government's policy for lowering carbon emissions is inspiring the use of energy-efficient refrigerated trailers.
Japan's refrigerated trailer market accounted for a larger share in 2024 due to the nation's high exportation of seafood and other perishable food items, demanding sophisticated cold storage and transportation facilities. Japan's aging population has resulted in a higher need for pharmaceutical logistics, driving the demand for refrigerated trailers to ship temperature-sensitive medical products. Japan's stringent environmental regulations, including the Act on the Rational Use of Energy, are also fueling demand for energy-saving and electric refrigerated trailers. Furthermore, Japan's advanced logistics infrastructure is helping to take up the use of refrigerated trailers for efficient last-mile delivery, especially in the fast-growing e-commerce industry.
Europe Refrigerated Trailer Market Trends
The Europe refrigerated trailer market was noted as a profitable region in 2024. The European market is also undergoing remarkable change, fueled by areas like the region's rigorous food safety and cold chain legislations, sustainable logistics solutions becoming increasingly in demand, and rising trade in perishable products. The European Union's Food Safety Regulations and Cold Chain Logistics, like Regulation (EC) No 852/2004 on foodstuffs' hygiene, are driving the implementation of next-generation refrigerated trailers to ensure the safety and efficient transportation of temperature-sensitive products.
The European refrigerated trailer market is putting greater emphasis on energy efficiency and sustainability in order to comply with strict environmental regulations, including the European Union's Green Deal and the European Climate Law, which aim for a ~55% reduction in greenhouse gas emissions by 2030. Consequently, numerous firms are looking to innovative solutions to reduce the carbon footprint of cold chain transport. For example, in June of 2023, TIP Group launched Finland's first solar-powered refrigerated trailer in collaboration with Valoe and Frigoscandia. The trailer, designed with Valoe's solar system, provides seamless cold chain transportation through the use of solar power.
The German refrigerated trailer market is influenced by a number of important factors, such as the nation's robust manufacturing sector and requirement for high-quality logistics solutions. Germany's strategic position as the hub of European trade with surrounding countries fuels demand for sophisticated refrigerated transport systems. Germany's determination to control carbon emissions through efforts such as the German Climate Action Plan is spurring energy-efficient refrigerated trailer adoption. Germany's strong e-commerce and food delivery market, coupled with tough food safety regulations, is also driving demand for refrigerated trailers.
The UK refrigerated trailer market was recognized as a profitable opportunity in 2024. UK's retail e-commerce has witnessed tremendous growth, promoting higher demand for effective cold chain logistics, especially for temperature-controlled products such as fresh produce, pharmaceuticals, and drinks. Increased growth in online grocery shopping and doorstep delivery services have heavily propelled the demand for refrigerated trailers to make sure that perishable items are transported to consumers in the best possible condition. Furthermore, the UK's drive to achieve carbon emission reduction, facilitated through actions such as the "Clean Growth Strategy," is also contributing to the demand for energy-efficient refrigerated trailers with state-of-the-art refrigeration technologies.
The UK market is also being supported through advancements in technology to enhance cold chain efficiency as well as regulatory compliance. For example, in June 2023, ORBCOMM extended its UK distribution network with the addition of Refrigerated Trailer Services (RTS) to distribute its next-generation temperature dataloggers. The partnership focuses on refrigerated fleet operators and trailer bodybuilders with real-time cold chain monitoring and compliance solutions to increase operational efficiency and decrease carbon emissions in the food, pharmaceutical, and transport industries. This step is an indication of the growing significance of digital solutions in ensuring the integrity of temperature-sensitive goods and enhancing the sustainability of refrigerated transport in Australia
Key Refrigerated Trailer Company Insights
Some of the prominent players in the market are Wabash National Corporation, Schmitz Cargobull AG, Great Dane LLC, and Utility Trailer Manufacturing Company.
Established in 1985 and having headquarters in Indiana, U.S., Wabash National Corporation is engaged in designing and manufacturing refrigerated trailers, dry vans, and other transportation equipment. Wabash National Corporation has a vast range of products with emphasis on light, strong solutions to transport temperature-controlled goods. Wabash is well known for its pioneering work in the application of advanced composite materials and fuel-efficient technologies aimed at lowering operating costs and enhancing overall performance. It caters to several industries, such as food and beverage, pharmacy, and retail, and has an extensive network of facilities to serve its global customer base.
Established in 1892 with headquarters in Altenberge, Germany, Schmitz Cargobull AG specializes in the production of refrigerated trailers and other commercial carrier solutions. The company produces high-quality, energy-efficient refrigerated trailers, focusing on temperature-sensitive loads for food, pharmaceutical, and chemical industries. Schmitz Cargobull is renowned for its innovative trailer designs, including insulation technology and advanced refrigeration systems to save energy.
Key Refrigerated Trailer Companies
The following are the leading companies in the refrigerated trailer market. These companies collectively hold the largest market share and dictate industry trends.
- Wabash National Corporation
- Schmitz Cargobull AG
- Great Dane LLC
- Utility Trailer Manufacturing Company
- CIMC Vehicles Group Co., Ltd.
- Kögel Trailer GmbH & Co. KG
- Lamberet SAS
- Fahrzeugwerk Bernard Krone GmbH & Co. KG
- Hyundai Translead, Inc.
- Gray & Adams Ltd.
Recent Developments
-
In April 2025, Birds Eye, together with DFDS and Sunswap, launched solar-powered refrigerated trucks in the UK to improve the eco-friendly transport of frozen products. The move is aligned with Birds Eye's carbon reduction goals and will utilize sophisticated battery-electric refrigeration equipment sourced from rooftop solar panels.
In March 2025, Utility Trailer and Cargobull North America launched cutting-edge updates to their hybrid refrigerated trailer units, such as a small microchannel condenser and a Load-Dividing Bulkhead option. The new condenser increases the thermal efficiency and cooling capacity for the 625 and 655MT models.
In December 2024, Wabash launched its Acutherm refrigerated freight body constructed of EcoNex composite technology, a significant structural breakthrough in the refrigerated trailer market. The innovative body design achieves a 25% boost in thermal efficiency and a very substantial weight reduction, with the purpose of enhancing energy performance and sustainability in temperature-controlled transport.
In October 2024, Wabash reported a USD 1.6 million U.S. Department of Energy award to collaborate with the University of Delaware in the design of solar-integrated refrigerated trailers. The three-year project will mitigate greenhouse gas emissions and grid dependency by integrating high-efficiency solar technology into trailer and truck body structures.
Refrigerated Trailer Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2025 |
USD 7.61 billion |
|
Revenue Forecast in 2030 |
USD 10.32 billion |
|
Growth rate |
CAGR of 6.3 % from 2025 to 2030 |
|
Base year for estimation |
2024 |
|
Historical data |
2018 - 2023 |
|
Forecast period |
2025 - 2030 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2025 to 2030 |
|
Report Coverage |
Revenue forecast, company market share, competitive landscape, growth factors, and trends |
|
Segments Covered |
Trailer, axle, power source, end use, region |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
|
Country scope |
U.S.; Canada; Mexico; UK; Germany; France; China; India; Japan; Australia; South Korea; Brazil; UAE; Kingdom of Saudi Arabia (KSA); South Africa |
|
Key companies profiled |
Wabash National Corporation; Schmitz Cargobull AG; Great Dane LLC; Utility Trailer Manufacturing Company; CIMC Vehicles Group Co., Ltd.; Kögel Trailer GmbH & Co. KG; Lamberet SAS; Fahrzeugwerk Bernard Krone GmbH & Co. KG; Hyundai Translead, Inc.; Gray & Adams Ltd. |
|
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
|
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
Global Refrigerated Trailer Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, MIR has segmented the global refrigerated trailer market report based on trailer, axle, power source, end use, and region.
-
Trailer Outlook (Revenue, USD Million, 2018 - 2030)
-
Single-Temperature
-
Multi-Temperature
-
-
Axle Outlook (Revenue, USD Million, 2018 - 2030)
-
Single Axle
-
Tandem Axle
-
Triple Axle
-
-
Power Source Outlook (Revenue, USD Million, 2018 - 2030)
-
Diesel-Powered
-
Electric-Powered
-
Solar-Assisted
-
-
End Use Outlook (Revenue, USD Million, 2018 - 2030)
-
Food & Beverage
-
Healthcare
-
Retail & E-Commerce
-
Logistics & Transportation
-
-
Regional Outlook (Revenue, USD Million, 2018 - 2030)
-
North America
-
U.S.
-
Canada
-
Mexico
-
-
Europe
-
UK
-
Germany
-
France
-
-
Asia Pacific
-
China
-
India
-
Japan
-
Australia
-
South Korea
-
-
Latin America
-
Brazil
-
-
Middle East & Africa (MEA)
-
UAE
-
Kingdom of Saudi Arabia (KSA)
-
South Africa
-
-
Related Reports
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy