Refrigerated Van Market Research Report By Body Type (Rigid, Articulated), By Payload Capacity (Less than 5 tons, 5-10 tons, 10-15 tons, 15-20 tons, More than 20 tons), By Type of Cooling System (Diesel-powered, Electric-powered, Hybrid), By Application (Food and Beverages, Pharmaceuticals, Chemicals, Others) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032

Refrigerated Van Market Overview:

As per MRFR analysis, the Refrigerated Van Market Size was estimated at 31.17 (USD Billion) in 2022. The Refrigerated Van Market Industry is expected to grow from 33.55 (USD Billion) in 2023 to 65.0 (USD Billion) by 2032. The Refrigerated Van Market CAGR (growth rate) is expected to be around 7.63% during the forecast period (2024 - 2032).

Key Refrigerated Van Market Trends Highlighted

The refrigerated van market is poised for robust growth in the coming years, driven by several key trends. Increasing demand for perishable goods, stringent regulations on food transportation, and advancements in refrigeration technology are propelling the market forward. Innovation in insulation materials and refrigeration systems has resulted in more efficient and environmentally friendly vans, reducing operating costs and environmental impact. Additionally, the rise of e-commerce and last-mile delivery services has created a growing need for refrigerated vans to ensure product freshness. The market is also witnessing a shift towards electric refrigerated vans, driven by government incentives and sustainability initiatives. These trends are shaping the landscape of the refrigerated van market, creating opportunities for manufacturers and suppliers to explore new solutions and capture market share.

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

Refrigerated Van Market Drivers

Rising Demand for Perishable Goods Transportation

The increasing demand for perishable goods, such as fresh produce, meat, and dairy products, is a major driver of the Global Refrigerated Van Market Industry. These products require precise temperature control during transportation to maintain their freshness and quality. Refrigerated vans provide the necessary conditions to ensure that perishable goods reach their destination in optimal condition, driving the growth of the market. As the population grows and urbanization increases, the demand for refrigerated transportation services is expected to continue to rise, creating significant opportunities for market players.

Expansion of E-commerce and Online Grocery Shopping

The demand for refrigerated vans is mainly influenced by the growth of e-commerce and online grocery shopping. A high number of consumers prefer having their groceries and other perishables delivered to their doorstep. These vans ensure that the commodities are transported to their specific locations safely and at the right temperatures, thus maintaining their quality and freshness. In essence, the high growth of e-commerce will contribute to the growth of the Global Refrigerated Van Market Industry as more consumers continue to purchase their perishable goods online.

Government Regulations and Safety Standards

In addition, the increase in refrigerated van market size is attributed to stringent government regulations regarding the transportation of perishable goods. This is because the safety of the food must be ensured, and hence, their spoilage must be prevented, creating a need to have vehicles that are of a special nature and can maintain specific temperatures. Thus, the higher demand for vehicles that meet the required safety standards causes an increase in the refrigerated van market size.

Refrigerated Van Market Segment Insights:

Refrigerated Van Market Body Type Insights

The Global Refrigerated Van Market is segmented by body type into rigid and articulated. The rigid body type segment is expected to hold a larger market share over the forecast period. The growth of this segment is attributed to the increasing demand for refrigerated vans for the transportation of perishable goods. Rigid refrigerated vans offer better insulation and temperature control, and therefore, they are best suited to transport products sensitive to temperature. They are also more compact and maneuverable compared to the articulated refrigerated vans, which makes them accessible within urban and congested areas.The articulated body type segment is expected to grow at a faster rate during the forecast period. Articulated refrigerated vans offer a greater payload capacity compared to rigid refrigerated vans, and this makes them ideal for the transportation of a higher volume of goods. Additionally, they are more efficient in fuel consumption compared to rigid refrigerated vans; subsequently, they are a more preferred form of long-haul transportation. The Global Refrigerated Van Market was valued at USD 33.55 billion in 2023. The growth is primarily due to the rising demand for refrigerated vans for the transportation of goods such as food and pharmaceuticals.The increasing population and urbanization of people are further increasing the demand for refrigerated vans since a larger population requires moving to urban areas where life is a bit easier. This enables a larger population to access fresh and frozen food.

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

Refrigerated Van Market Payload Capacity Insights

The payload capacity segment is a crucial aspect of the Global Refrigerated Van Market segmentation. It categorizes refrigerated vans based on their load-carrying capabilities. The market is segmented into five payload capacity sub-segments: Less than 5 tons, 5-10 tons, 10-15 tons, 15-20 tons, and More than 20 tons. The "Less than 5 tons" segment holds a significant share of the Global Refrigerated Van Market revenue due to its wide applicability in last-mile delivery and urban distribution, particularly for perishable goods such as groceries, pharmaceuticals, and temperature-sensitive products.The "5-10 tons" segment follows closely, driven by demand from e-commerce and cold chain logistics providers. It caters to medium-sized distribution needs, offering a balance between payload capacity and maneuverability. The "10-15 tons" and "15-20 tons" segments are gaining traction in the Global Refrigerated Van Market, driven by the growth of long-haul transportation and international trade. These segments are ideal for transporting larger quantities of perishable goods over longer distances, requiring robust and efficient refrigeration systems.The "More than 20 tons" segment represents heavy-duty refrigerated vans designed for specialized applications such as bulk transport of frozen foods and pharmaceuticals. Its market share is expected to increase as industries prioritize efficient and reliable long-distance transportation solutions.

Refrigerated Van Market Type of Cooling System Insights

The Global Refrigerated Van Market Segmentation by Type of Cooling System includes Diesel-powered, Electric-powered, and Hybrid systems. Diesel-powered systems currently dominate the market, accounting for over 60% of the Global Refrigerated Van Market revenue in 2023. Electric-powered systems are gaining traction due to rising environmental concerns and government regulations and are expected to witness significant growth in the coming years. Hybrid systems, which combine both diesel and electric power, offer a balance between efficiency and environmental friendliness and are expected to gain market share over the forecast period.The growing demand for temperature-controlled transportation of perishable goods, coupled with the increasing adoption of sustainable practices, is driving the growth of the Refrigerated Van Market.

Refrigerated Van Market Application Insights

The Application segment plays a pivotal role in shaping the growth trajectory of the Global Refrigerated Van Market. The food and beverages sector emerged as the dominant application, capturing over 45% of the market share in 2023. This dominance is attributed to the increasing demand for perishable food items, coupled with stringent regulations for maintaining their quality and freshness during transportation. The pharmaceutical industry is another significant application segment, with a projected CAGR of 8.2% over the forecast period. The growing need for temperature-controlled transportation of vaccines, medicines, and biologics drives this growth.The chemicals sector also contributes a notable share to the market, owing to the transportation of hazardous and temperature-sensitive chemicals. Other applications, such as the transportation of flowers, electronics, and artwork, collectively account for a substantial portion of the market.

Refrigerated Van Market Regional Insights

The regional segmentation of the Global Refrigerated Van Market offers insights into the market's geographical distribution and growth potential. North America held a dominant share of the market in 2023, accounting for approximately 9.423 billion USD of the global revenue. The region's well-established cold chain infrastructure, coupled with increasing demand for temperature-controlled transportation, is expected to drive growth in the coming years. Europe follows closely, with a significant share of the market, driven by stringent regulations and high consumer awareness about food safety.The Asia-Pacific region is projected to witness the fastest growth during the forecast period, owing to rising disposable income, growing urbanization, and expanding retail and food processing industries. South America and the Middle East and Africa (MEA) are also expected to contribute to the overall market growth, with increasing investments in infrastructure and rising demand for perishable goods.

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

Refrigerated Van Market Key Players And Competitive Insights:

Major players in the Refrigerated Van Market are constantly striving to gain a competitive edge by investing in research and development, expanding their product portfolios, and forming strategic partnerships. Leading Refrigerated Van Market players are focusing on developing innovative and sustainable solutions to meet the evolving needs of customers. The Refrigerated Van Market industry is characterized by intense competition, with several key players vying for market share. These companies are engaged in various strategies, such as mergers and acquisitions, to strengthen their positions in the market. The Refrigerated Van Market development is driven by factors such as rising demand for temperature-controlled transportation of perishable goods, increasing regulatory compliance, and technological advancements. The Competitive Landscape of the Refrigerated Van Market is expected to remain dynamic, with new entrants and established players competing for market share.Daimler Truck is a leading company in the Global Refrigerated Van Market. It offers a wide range of refrigerated vans under the Mercedes-Benz brand, known for their reliability, efficiency, and innovative features. The company has a strong global presence, with manufacturing facilities in several countries and a vast network of dealerships and service centers. Daimler Truck is focused on providing customized solutions to meet the specific needs of customers in various industries, including food and beverage, pharmaceuticals, and logistics. The company invests heavily in research and development to enhance the performance and sustainability of its refrigerated vans.Another major player in the Global Refrigerated Van Market is Thermo King. The company is a leading provider of temperature control solutions for the transportation industry. Thermo King offers a comprehensive range of refrigerated vans, including electric and hybrid models, designed to meet the diverse needs of customers. The company has a global presence, with manufacturing facilities in several countries and a strong distribution network. Thermo King is committed to providing innovative and environmentally friendly solutions to reduce emissions and improve the efficiency of refrigerated transportation. The company focuses on developing advanced technologies, such as telematics and remote monitoring systems, to enhance the performance and reliability of its refrigerated vans.

Key Companies in the Refrigerated Van Market Include:

• Emerson Climate Technologies


• Morgan Olson


• Carrier Transicold


• Aerofreeze


• Isuzu Refrigeration


• SFO Technologies


• Hubbard Refrigerated Transport


• C Truck Bodies


• TKT Thermal Design


• Zanotti


• Trane Technologies


• Thermal King


• Thermo King


• CF Foam


• NordCold

Refrigerated Van Market Industry Developments

The global refrigerated van market size is projected to grow from USD 33.55 billion in 2023 to USD 65.0 billion by 2032, exhibiting a CAGR of 7.63% during the forecast period. Increasing demand for perishable goods, stringent regulations regarding food safety, and rising consumer awareness about the quality of food products are driving market growth. The Asia Pacific region is expected to witness significant growth due to the increasing population, urbanization, and economic development. Technological advancements, such as the development of electric and hybrid refrigerated vans, are also expected to contribute to market growth. E-commerce and home delivery services have increased demand for temperature-controlled transportation, further boosting market expansion. Key players in the market include Thermo King, Carrier Transicold, and Daikin, among others.

Refrigerated Van Market Segmentation Insights

• Refrigerated Van Market Body Type Outlook


• Rigid


• Articulated


• Refrigerated Van Market Payload Capacity Outlook


• Less than 5 tons


• 5-10 tons


• 10-15 tons


• 15-20 tons


• More than 20 tons


• Refrigerated Van Market Type of Cooling System Outlook


• Diesel-powered


• Electric-powered


• Hybrid


• Refrigerated Van Market Application Outlook


• Food and Beverages


• Pharmaceuticals


• Chemicals


• Others


• Refrigerated Van Market Regional Outlook


• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa