Cold Chain Equipment Market

Growing need for processed and frozen foods is driving the market growth

The food and beverage industry need specialized equipment for the cold chain. For food safety, food hygiene, health, and the environment, equipment for the cold chain is advantageous. The dependence on the processed food sector has grown as a result of shifting lifestyles, urbanization, population growth, and rising purchasing power. According to the World Bank, 4.28 billion people—or around 56% of the world's population—live in urban areas today. Furthermore, the demand for temperature-controlled storage facilities has increased as a result of international fish and meat commerce.

The expansion of the market for cold chain equipment is probably being fueled by the new trend of buying meat and seafood online as well as the increased number of hypermarkets & supermarkets that sell fresh and frozen goods. The need for processed and frozen foods increased as well during the pandemic.

In developing nations like Latin America, Africa, and Asia, there is still plenty of space for the market for cold chain equipment to expand. The need for equipment and infrastructural changes in the cold chain is growing as a result of the middle class expansion and rising temperatures. Improved product quality, higher efficiency, and lower costs for enterprises are the results of advancements in cold chain technology, which include insulating materials, more energy-efficient refrigeration systems, and monitoring technologies. These developments provide up new possibilities for raising product quality while lowering prices and operational costs.

Recent initiatives to improve the cold chain industry's sustainability have come under fire, especially those that seek to cut down on energy use and carbon emissions. This opens up possibilities for creating cold chain systems that are more environmentally friendly.

Transport and storage of temperature-sensitive items have a significant influence on a number of industries, including pharmaceuticals, biotechnology, food processing, breweries, and wineries. This is necessary to preserve the quality, safety, and efficacy of the products. Healthcare products such as biopharmaceuticals, individualized medicine, gene treatments, vaccinations, and biologics must be stored and transported under strict temperature control. The current COVID-19 has further highlighted the significance of cold chain equipment for the swift and secure distribution of vaccinations and medical supplies around the world.

Cold storage and refrigerated transportation are needed in the food processing industry, which includes the production of fresh produce, ice cream, dairy products, ready-to-eat meals, and seafood. This is done to prevent spoiling and maintain the freshness of the product. Thus, driving the cold chain equipment market revenue.

The Global Cold Chain Equipment Market Industry experiences a notable surge in demand for perishable goods, driven by consumer preferences for fresh produce, dairy, and meat products. This trend is particularly pronounced in developing regions where urbanization and rising disposable incomes contribute to increased consumption of perishable items. As a result, the market for cold chain equipment is projected to reach 26.1 USD Billion in 2024, reflecting the necessity for efficient storage and transportation solutions. The growing emphasis on food safety and quality further propels investments in advanced refrigeration technologies, ensuring that perishable goods maintain their integrity throughout the supply chain.

The Global Cold Chain Equipment Market Industry is characterized by several key trends and growth projections. The market is anticipated to experience a robust expansion, with a projected value of 26.1 USD Billion in 2024 and an impressive increase to 243.4 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 22.5% from 2025 to 2035. Factors contributing to this growth include rising consumer demand for fresh and safe food products, advancements in refrigeration technology, and the increasing importance of regulatory compliance. These trends indicate a dynamic market landscape, poised for significant developments in the coming years.

Technological advancements play a pivotal role in shaping the Global Cold Chain Equipment Market Industry. Innovations such as IoT-enabled temperature monitoring systems and energy-efficient refrigeration units enhance operational efficiency and reduce energy consumption. These technologies not only ensure compliance with stringent regulations but also provide real-time data analytics for better decision-making. The integration of automation in cold storage facilities further streamlines operations, reducing labor costs and minimizing human error. As the market evolves, these advancements are likely to drive significant growth, with projections indicating a market size of 243.4 USD Billion by 2035, underscoring the importance of technology in cold chain logistics.

Regulatory compliance and stringent food safety standards significantly influence the Global Cold Chain Equipment Market Industry. Governments worldwide are implementing rigorous regulations to ensure the safe handling and transportation of perishable goods. This regulatory landscape compels businesses to invest in reliable cold chain solutions that meet these standards. For instance, the Food and Drug Administration in the United States mandates specific temperature controls for food products, necessitating the use of advanced cold chain equipment. As companies strive to adhere to these regulations, the demand for high-quality refrigeration and monitoring systems is expected to rise, further propelling market growth.

The growth of e-commerce and online grocery delivery services is reshaping the Global Cold Chain Equipment Market Industry. As consumers increasingly turn to online platforms for their grocery needs, the demand for efficient cold chain logistics becomes paramount. E-commerce companies require robust cold chain solutions to ensure that perishable items are delivered fresh and safe to consumers. This shift in consumer behavior is driving investments in cold storage facilities and transportation solutions. The market is poised for substantial growth, with a projected CAGR of 22.5% from 2025 to 2035, reflecting the evolving landscape of food distribution and the necessity for effective cold chain management.

Increasing global trade and the export of perishable goods significantly impact the Global Cold Chain Equipment Market Industry. As countries engage in international trade, the need for reliable cold chain solutions becomes critical to maintain the quality of perishable products during transit. For example, the export of seafood and agricultural products requires precise temperature control to prevent spoilage. This trend is likely to drive investments in advanced cold chain technologies and infrastructure, ensuring that products meet international quality standards. As global trade continues to expand, the cold chain equipment market is expected to grow in tandem, reflecting the interconnected nature of global supply chains.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American cold chain equipment market area will dominate this market. This is because cold chain equipment companies in North America are very fragmented. During the projection period, demand is also anticipated to be fueled by rising disposable income, an aging population, and regulations that assure food safety during storage and transit. The expansion of regional markets is anticipated to be fueled by the rise in demand for fresh meat, seafood, and vegetables.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Cold Chain Equipment Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe cold chain equipment market accounts for the second-largest market share due to the recent increase in demand for a variety of food products, increased public knowledge of hygienic and safety standards, etc. Additionally, a growing number of cold storage facilities are being constructed throughout this region to satisfy expanding consumer demand, which will further fuel market expansion over the course of the projection period. Further, the German cold chain equipment market held the largest market share, and the UK cold chain equipment market was the fastest growing market in the European region

The Asia-Pacific Cold Chain Equipment Market is expected to grow at the fastest CAGR from 2025 to 2034. The Asia Pacific region's cold chain equipment market is expanding quickly because to the need for fresh and frozen foods, pharmaceuticals, and other perishable commodities. In this region, which is home to some of the world's main population centers, there is a growing awareness of the necessity of assuring product quality and safety throughout shipment and storage.

Moreover, China’s cold chain equipment market held the largest market share, and the Indian cold chain equipment market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the cold chain equipment market, including cold storage solutions, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, cold chain equipment industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global cold chain equipment industry to benefit clients and increase the market sector. In recent years, the cold chain equipment industry has offered some of the most significant advantages to medicine. Major players in the cold chain equipment market are attempting to increase market demand by investing in research and development operations includes Thermo King, Carrier Transicold, Zanotti SpA, Fermod, CAREL, Bitzer, Kelvion, Incold S.p.A., Rivacold srl, Kason Industries Inc., Intertecnica, ebm-papst Group,  CHG Europe BV, Viessmann and Schmitz Cargobull.

The refrigeration, foodservice, and truck body industries all depend on Kason, a top-tier provider of necessary hardware, accessories, and supplies. In order to provide great products, it designs new solutions supported by strong quality control. One may count on Kason for solutions that support businesses in operating more successfully and effectively, including premium hinges, handles, LED lights, vinyl curtains, a wide selection of fabrication materials, and more.

Solutions for transporting refrigerated cargo from Carrier Transicold contribute to making life better for people all around the world. Carrier Transicold offers a full range of products and services for refrigerated transport and cold chain visibility, which improves the transportation of temperature-controlled goods. Carrier Transicold has been a market leader for more than 50 years, offering clients all over the world cutting-edge, ecologically friendly, and energy-efficient transport refrigeration systems for LCV vehicles, trucks, and trailers.

In 2023, Carrier has announced measures to cut greenhouse gas (GHG) emissions in accordance with science-based targets and steps to prevent global warming and promote decarburization efforts. Carrier is a global provider of healthy, sustainable, safe, and intelligent building and cold chain solutions.