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Global Truck Refrigeration Unit Market to reach USD 19300.19 million by the end of 2030.

Global Truck Refrigeration Unit Market Size study & Forecast, by Type (Split System and Roof Mount System), by Length (12-Meter), by Application (Chilled and Frozen), by Power Source (Engine Powered and Independent), by Power Capacity (Below 5 Kw, 5 Kw - 19 Kw, and Above 19 Kw), by Vehicle Type (Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, Trailer, Bus, Others) and Regional Analysis, 2023-2030

Product Code: ALTL-22481300
Publish Date: 4-08-2023
Page: 200

Global Truck Refrigeration Unit Market is valued approximately at USD 12671.75 million in 2022 and is anticipated to grow with a growth rate of more than 5.4% over the forecast period 2023-2030. Truck refrigeration systems are refrigerated/reefer vehicles equipped with mechanical refrigeration systems perform that perishable commodity at appropriate temperatures all the way to the point of sale. For LTL (less-than-truckload) shipment, general choices for sustaining goods in a “cool” or “fresh” temperature range or in a frozen temperature range are available. Factors such as increased demand for frozen food and fresh produce, customer desire for convenience, the expansion of supermarkets and quick-service restaurants, investments in smart city projects, and developments in refrigeration technology are driving the truck refrigeration unit market.

The pharmaceutical industry’s demand for accurate temperature control during transportation is propelling the truck refrigeration unit market. These units ensure that pharmaceutical items, such as vaccines and pharmaceuticals, are stored and delivered at the appropriate temperatures to retain their efficacy and safety. According to Statista, the overall worldwide pharmaceutical market was predicted to be USD 1.48 trillion in 2022. This is a marginal gain from 2021, when the market was valued at USD 1.42 trillion. Additionally, huge demand for hygienic food products and food packaging and increasing investment in the food service sectors provides lucrative opportunities to the market. However, high cost associated with the energy-efficient AC system stifling market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Truck Refrigeration Unit Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to growing number of supply chain businesses also, the presence and availability of global brands and challenges faced by them due to intense or limited competition from local and domestic brands. Also, growing pharmaceutical industry in the region is anticipated to support the market growth. North America is expected to fastest growing significantly during the forecast period, owing to the worldwide deployment of vaccinations and pent-up demand for required and non-essential medical services, supportive government initiatives, and presence of key market players in the region.
Major market player included in this report are:
Utility Trailer Manufacturing Company
Denso Corporation
Thermo King
Carrier Global Corporation
Subros Ltd Co.
Webasto SE
Mobile Climate Control
Daikin Industries, Ltd.
Sanden Corporation
Klinge Corporation
Recent Developments in the Market:
Ø In August 2021, Thermo King has introduced the T-80E Series, the latest addition to their refrigerated truck lineup. This next-generation product offers improved control software and long-life electronic evaporator fans. The T-80E Series showcases Thermo King’s commitment to innovation, sustainability, and customer satisfaction by delivering enhanced refrigeration capacity and precise temperature control.
Ø In December 2022, Thermo King, a leading transport refrigeration brand under Trane Technologies, has unveiled the TH-350, an ultra-thin electric refrigeration unit. This next-generation product from the THOR series offers exceptional cold chain logistics performance with its lightweight design, reliable performance, and user-friendly features.
Global Truck Refrigeration Unit Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Length, Application, Power Source, Power Capacity, Vehicle Type, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Split System
Roof Mount System
By Length:
By Application:
By Power Source:
Engine Powered
By Power Capacity:
Below 5 Kw
5 Kw – 19 Kw
Above 19 Kw
By Vehicle Type:
Light Commercial Vehicles
Medium & Heavy Commercial Vehicles
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
1.2.1. Truck Refrigeration Unit Market, by region, 2020-2030 (USD Million)
1.2.2. Truck Refrigeration Unit Market, by Type, 2020-2030 (USD Million)
1.2.3. Truck Refrigeration Unit Market, by Length, 2020-2030 (USD Million)
1.2.4. Truck Refrigeration Unit Market, by Application, 2020-2030 (USD Million)
1.2.5. Truck Refrigeration Unit Market, by Power Source, 2020-2030 (USD Million)
1.2.6. Truck Refrigeration Unit Market, by Power Capacity, 2020-2030 (USD Million)
1.2.7. Truck Refrigeration Unit Market, by Vehicle Type, 2020-2030 (USD Million)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Truck Refrigeration Unit Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Truck Refrigeration Unit Market Dynamics
3.1. Truck Refrigeration Unit Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing demand for frozen foods by consumers Increasing growth of supermarkets and restaurants
3.1.2. Market Challenges High Cost associated with the energy-efficient AC system Growth in health concerns about the consumption of frozen fruit and vegetables
3.1.3. Market Opportunities Huge demand for hygienic food products and food packaging Increasing investment in the food service sectors
Chapter 4. Global Truck Refrigeration Unit Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Truck Refrigeration Unit Market, by Type
5.1. Market Snapshot
5.2. Global Truck Refrigeration Unit Market by Type, Performance – Potential Analysis
5.3. Global Truck Refrigeration Unit Market Estimates & Forecasts by Type 2020-2030 (USD Million)
5.4. Truck Refrigeration Unit Market, Sub Segment Analysis
5.4.1. Split System
5.4.2. Roof Mount System
Chapter 6. Global Truck Refrigeration Unit Market, by Length
6.1. Market Snapshot
6.2. Global Truck Refrigeration Unit Market by Length, Performance – Potential Analysis
6.3. Global Truck Refrigeration Unit Market Estimates & Forecasts by Length 2020-2030 (USD Million)
6.4. Truck Refrigeration Unit Market, Sub Segment Analysis
6.4.1. 12-Meter
Chapter 7. Global Truck Refrigeration Unit Market, by Application
7.1. Market Snapshot
7.2. Global Truck Refrigeration Unit Market by Application, Performance – Potential Analysis
7.3. Global Truck Refrigeration Unit Market Estimates & Forecasts by Application 2020-2030 (USD Million)
7.4. Truck Refrigeration Unit Market, Sub Segment Analysis
7.4.1. Chilled
7.4.2. Frozen
Chapter 8. Global Truck Refrigeration Unit Market, by Power Source
8.1. Market Snapshot
8.2. Global Truck Refrigeration Unit Market by Power Source, Performance – Potential Analysis
8.3. Global Truck Refrigeration Unit Market Estimates & Forecasts by Power Source 2020-2030 (USD Million)
8.4. Truck Refrigeration Unit Market, Sub Segment Analysis
8.4.1. Engine Powered
8.4.2. Independent
Chapter 9. Global Truck Refrigeration Unit Market, by Power Capacity
9.1. Market Snapshot
9.2. Global Truck Refrigeration Unit Market by Power Capacity, Performance – Potential Analysis
9.3. Global Truck Refrigeration Unit Market Estimates & Forecasts by Power Capacity 2020-2030 (USD Million)
9.4. Truck Refrigeration Unit Market, Sub Segment Analysis
9.4.1. Below 5 Kw
9.4.2. 5 Kw – 19 Kw
9.4.3. Above 19 Kw
Chapter 10. Global Truck Refrigeration Unit Market, by Vehicle Type
10.1. Market Snapshot
10.2. Global Truck Refrigeration Unit Market by Vehicle Type, Performance – Potential Analysis
10.3. Global Truck Refrigeration Unit Market Estimates & Forecasts by Vehicle Type 2020-2030 (USD Million)
10.4. Truck Refrigeration Unit Market, Sub Segment Analysis
10.4.1. Light Commercial Vehicles
10.4.2. Medium & Heavy Commercial Vehicles
10.4.3. Trailer
10.4.4. Bus
10.4.5. Others
Chapter 11. Global Truck Refrigeration Unit Market, Regional Analysis
11.1. Top Leading Countries
11.2. Top Emerging Countries
11.3. Truck Refrigeration Unit Market, Regional Market Snapshot
11.4. North America Truck Refrigeration Unit Market
11.4.1. U.S. Truck Refrigeration Unit Market Type breakdown estimates & forecasts, 2020-2030 Length breakdown estimates & forecasts, 2020-2030 Application breakdown estimates & forecasts, 2020-2030 Power Source breakdown estimates & forecasts, 2020-2030 Power Capacity breakdown estimates & forecasts, 2020-2030 Vehicle Type breakdown estimates & forecasts, 2020-2030
11.4.2. Canada Truck Refrigeration Unit Market
11.5. Europe Truck Refrigeration Unit Market Snapshot
11.5.1. U.K. Truck Refrigeration Unit Market
11.5.2. Germany Truck Refrigeration Unit Market
11.5.3. France Truck Refrigeration Unit Market
11.5.4. Spain Truck Refrigeration Unit Market
11.5.5. Italy Truck Refrigeration Unit Market
11.5.6. Rest of Europe Truck Refrigeration Unit Market
11.6. Asia-Pacific Truck Refrigeration Unit Market Snapshot
11.6.1. China Truck Refrigeration Unit Market
11.6.2. India Truck Refrigeration Unit Market
11.6.3. Japan Truck Refrigeration Unit Market
11.6.4. Australia Truck Refrigeration Unit Market
11.6.5. South Korea Truck Refrigeration Unit Market
11.6.6. Rest of Asia Pacific Truck Refrigeration Unit Market
11.7. Latin America Truck Refrigeration Unit Market Snapshot
11.7.1. Brazil Truck Refrigeration Unit Market
11.7.2. Mexico Truck Refrigeration Unit Market
11.8. Middle East & Africa Truck Refrigeration Unit Market
11.8.1. Saudi Arabia Truck Refrigeration Unit Market
11.8.2. South Africa Truck Refrigeration Unit Market
11.8.3. Rest of Middle East & Africa Truck Refrigeration Unit Market

Chapter 12. Competitive Intelligence
12.1. Key Company SWOT Analysis
12.1.1. Company 1
12.1.2. Company 2
12.1.3. Company 3
12.2. Top Market Strategies
12.3. Company Profiles
12.3.1. Utility Trailer Manufacturing Company Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
12.3.2. Denso Corporation
12.3.3. Thermo King
12.3.4. Carrier Global Corporation
12.3.5. Subros Ltd. Co.
12.3.6. Webasto SE
12.3.7. Mobile Climate Control
12.3.8. Daikin Industries, Ltd.
12.3.9. Sanden Corporation
12.3.10. Klinge Corporation
Chapter 13. Research Process
13.1. Research Process
13.1.1. Data Mining
13.1.2. Analysis
13.1.3. Market Estimation
13.1.4. Validation
13.1.5. Publishing
13.2. Research Attributes
13.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
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To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
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Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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