Dublin, June 13, 2024 (GLOBE NEWSWIRE) — The “U.S. Refrigerated Truck Transportation Market – Focused Insights 2024-2029” report has been added to ResearchAndMarkets.com’s The offer of
The US refrigerated truck transport market was valued at USD 10.32 billion in 2023 and is expected to reach USD 13.65 billion by 2029, growing at a CAGR of 4.77%.
The FTL service segment held the largest share, over 79%, of the US refrigerated trucking market in 2023. FTL services continue to have strong demand in the US refrigerated trucking market, especially from industries that require bulk shipments of perishable goods. The food and beverage, pharmaceutical and agriculture sectors rely heavily on FTL services to ensure timely and efficient delivery of their products.
Based on FTL service types, dedicated FTL shows significant growth, with the fastest growing CAGR of 7.07% in the US refrigerated trucking market. The reliability and personalized service offerings of dedicated FTL operators drive their demand for dedicated FTL. This segment caters to businesses with stable shipment volumes and specific transportation requirements. This segment of the US refrigerated truck market is characterized by long-term contracts, dedicated fleet agreements, service industries such as food distribution, pharmaceuticals, and temperature-sensitive logistics.
The multi-storage compartment segment is growing significantly, with the highest CAGR growth in the refrigerated truck market in the US during the forecast period. The demand for refrigerated trucks with multi-temperature compartments is increasing due to their versatility in transporting various perishable goods with different temperature requirements, catering to various industries such as food service, food and pharmaceuticals.
The trailer vehicle segment will dominate and hold the most significant share of the US refrigerated truck market in 2023. Trailers are an integral part of the US refrigerated truck transportation market, serving industries that require scale transportation wide range of perishable goods over long distances. Demand for refrigerated trailers remains strong, driven by sectors such as agriculture, food processing and pharmaceuticals.
Based on end-user segment, the pharmaceutical segment exhibits prominent growth, with the highest CAGR of over 8.62% in the US refrigerated truck market. The pharmaceutical industry relies on refrigerated trucking services to transport temperature-sensitive medications, vaccines, biologics, and other healthcare products. Demand for pharmaceutical-grade cold chain logistics continues to grow due to advances in biotechnology, increased globalization of pharmaceutical supply chains, and the expansion of precision medicine.
The meat, poultry, and seafood segment of the food and beverage industry will hold over 44% in 2023. Demand for refrigerated shipping services in this segment remains strong due to the perishable nature of meat, poultry, and seafood products. and the need to maintain freshness, quality and safety throughout the supply chain.
PRINCIPAL MARKET MANAGERS
Growing demand for perishable frozen goods: The growing demand for frozen perishable goods in the US refrigerated truck market is driven by changing consumer preferences, dietary habits and lifestyle trends. As consumers prioritize convenience and health-conscious choices, demand for frozen foods such as fruits, vegetables, seafood and convenience foods continues to grow. Market players must expand their cold chain logistics capabilities to efficiently transport and store frozen perishable goods to capitalize on this trend. This may include investing in specialized refrigerated trucks and storage facilities with advanced temperature control technology.
High demand from healthcare and pharmaceutical industries: The US healthcare and pharmaceutical industries are driving significant demand for refrigerated shipping services to ensure the safe and timely delivery of temperature-sensitive medical supplies, vaccines, biologics and pharmaceuticals. With stringent regulatory requirements and increasing global health concerns, reliable cold chain logistics solutions are essential for maintaining product integrity and patient safety. Market players should prioritize compliance with regulatory standards and invest in specialized equipment and training to handle pharmaceutical and healthcare shipments. Building strong partnerships with pharmaceutical companies, healthcare providers and regulatory agencies will be essential to gaining trust and securing long-term contracts in this lucrative market segment.
LANDSCAPE FOR SALE
The US refrigerated trucking market contains exclusive data for 31 vendors. The competitive market scenario is intensifying, with global and domestic players offering various products. In terms of market share, a few major players are currently dominating the market. Some companies currently dominating the market are Americold Logistics, CH Robinson Worldwide, DB Schenker, JB Hunt and Knight-Swift Transportation Company.
In March 2024, Lineage Eye, developed by Lineage’s in-house team of data scientists, revolutionized cold chain logistics. This latest solution automates product receipt and increases overall efficiency throughout the cold chain. By combining math, science and technology, Lineage aims to create innovative solutions that optimize operations and elevate the industry. Market players can adopt computer vision technology to simplify pallet retrieval, improving accuracy and efficiency in their logistics operations.
In 2023, Marten Transport, a major player in cold chain logistics, introduced the SmartDrive Camera System and Platform Science Technology. This tablet-based platform aims to increase efficiency for Marten drivers by reducing waiting times for loading units. The SmartDrive Camera System focuses on driver behaviors to ensure safety, eliminating the need for manual monitoring. Industry peers can explore tablet-based platforms to increase driver efficiency, reduce loading wait times and prioritize safety through behaviorally focused systems.
LIST OF VENDORS
Top sellers
- Americold Logistics
- CH Robinson worldwide
- DB Schenker
- JB Hunt
- Knight-Swift Shipping Company
Other notable sellers
- Covenant Logistics
- Stevens Shipping
- Burris Logistics
- Total Quality Logistics (TQL)
- ABF Freight
- Forwarders
- XPO
- FEDEX
- RLS Logistics
- Matson
- Freymiller
- origin
- Martin Transport
- KLLM
- Freezers of the Confederacy
- Save
- Pensive
- Alliance
- Midwest Refrigeration Services
- head
- TransAm
- J&R Schugel Trucking
- Decker Truck Line
- Gwynn Logistics
- DVL Express
- will be
Main attributes:
| The report attribute | The details |
| No. of Pages | 89 |
| Forecast period | 2023 – 2029 |
| Estimated market value (USD) in 2023 | 10.32 billion dollars |
| Estimated market value (USD) by 2029 | 13.65 billion dollars |
| Compound Annual Growth Rate | 4.7% |
| Regions covered | United States |
Main topics covered:
Chapter – 1: US Refrigerated Trucking Market Overview
Chapter – 2: Forecasted Revenue of United States Refrigerated Truck Market
- US: Forecasted Refrigerated Truck Transportation Revenue (2024-2029; USD Billion)
Chapter – 3: US Refrigerated Truck Transportation Market Segmentation Data
- US: Forecast Revenue by Service (2024-2029); (Revenue $BN)
- US: Projected FTL Revenue (2024-2029); (Revenue $BN)
- Non-dedicated FTL
- Dedicated FTL
- US: Forecast Revenue by Temperature Division (2024-2029); (Revenue $BN)
- The only temperature
- Multiple temperature
- US: Forecast Revenue by Vehicle Type (2024-2029); (Revenue $BN)
- US: Forecast Revenue by End User (2024-2029); (Revenue $BN)
- Food & Beverage
- pharmaceutics
- Others
- US: Forecast Revenue by Food & Beverage (2024-2029); (Revenue billion dollars)
- Photo of food and drink
- Meat, poultry and seafood
- Milk & Drinks
- Bakery Confectionary, and others
Chapter – 4: US Refrigerated Truck Transportation Market Outlook and Opportunities
- US Refrigerated Truck Market Trends
- US Refrigerated Truck Market Leaders
- US Refrigerated Truck Market Restraints
Chapter – 5: Overview of the US Refrigerated Trucking Industry
- US Refrigerated Trucking Market – Competitive Landscape
- US Refrigerated Truck Market – Key Players
- US Refrigerated Truck Shipping Market – Other Notable Sellers
For more information about this report, visit https://www.researchandmarkets.com/r/26om07
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The US Refrigerated Truck Market
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