Truck Refrigeration Units Market Size & Industry Report, 2033

Truck Refrigeration Units Market Overview

The Truck Refrigeration Units Market size was valued at USD 13526.11 million in 2024 and is expected to reach USD 19905.7 million by 2033, growing at a CAGR of 4.4% from 2025 to 2033.

The truck refrigeration units market serves as a crucial component in cold chain logistics, enabling the temperature-controlled transport of perishable goods across food, pharmaceuticals, chemicals, and floriculture sectors. In 2023, over 1.92 million refrigeration units were in operation globally, with small truck refrigeration units accounting for 42% of all installations. These systems are integral to urban grocery delivery, medical logistics, and long-haul food distribution, maintaining temperatures ranging from -30°C to +25°C.

North America led with more than 480,000 units in active use, while Asia-Pacific followed closely with 445,000 units deployed. Europe recorded 370,000 active systems, mainly in the food and pharmaceutical sectors. Cold chain infrastructure development in Southeast Asia and Latin America contributed to 12% of all new refrigeration unit sales globally. Electric and hybrid-powered truck refrigeration units are gaining traction, with over 37,000 eco-friendly models sold in 2023, especially in countries with stringent emissions regulations.

High-end units now offer real-time GPS tracking and temperature monitoring, with over 51,000 units equipped with telematics integration in 2023. These smart features allow operators to monitor route efficiency, product safety, and energy consumption in real time, contributing to enhanced cold chain integrity.

Key Findings

DRIVER: Growing demand for temperature-sensitive food and pharmaceutical logistics.

COUNTRY/REGION: United States, with over 325,000 truck refrigeration units in operation in 2023.

SEGMENT: Medium Truck Refrigeration Unit, widely used in regional food distribution and pharmaceutical delivery.

Truck Refrigeration Units Market Trends

The global truck refrigeration units market is undergoing significant transformation driven by advancements in technology, regulatory changes, and increasing demand for cold chain reliability. In 2023, over 290,000 new truck refrigeration units were sold worldwide, a 13% increase compared to the previous year. Medium truck refrigeration units accounted for 45% of this volume due to their suitability for mid-range distribution routes of 200–800 kilometers.

One major trend is the transition toward electric and hybrid-powered refrigeration systems. Over 37,000 electric units were sold in 2023, up from 24,000 in 2022. This trend is especially strong in Europe, where regulations in countries such as Germany, France, and the Netherlands limit the use of diesel-powered refrigeration in urban delivery zones. In the U.S., California mandated the phase-out of diesel-powered TRUs in port areas starting 2024, accelerating fleet conversion.

Smart refrigeration units are gaining adoption rapidly. Approximately 51,000 units in 2023 featured integrated telematics systems with capabilities such as temperature logging, route geofencing, and fuel consumption analysis. Adoption is highest in North America, where food safety laws and fleet monitoring tools drive demand for real-time operational visibility.

Advanced insulation materials are also reshaping the industry. High-density polyurethane panels were used in 63% of new refrigerated truck builds, improving temperature retention by up to 19% over conventional fiberglass alternatives. In the Asia-Pacific region, demand for dual-zone refrigeration units grew by 21% in 2023, especially in urban markets like Seoul, Tokyo, and Singapore, where the ability to carry frozen and chilled items simultaneously is essential.

Refrigerants are evolving too. More than 74,000 units installed in 2023 used low-GWP refrigerants such as R-452A and R-290 to comply with sustainability targets. As a result, manufacturers are increasingly investing in refrigerant-flexible systems capable of switching to newer chemical compositions without redesigning the cooling architecture.

Truck Refrigeration Units Market Dynamics

Market dynamics in the Truck Refrigeration Units Market refer to the underlying forces that influence the growth, stability, and transformation of the industry. These dynamics encompass drivers, restraints, opportunities, and challenges, each playing a critical role in shaping market behavior, decision-making, and investment trends. Drivers propel market demand and innovation—such as the rising need for cold chain logistics in food and pharmaceuticals. Restraints hinder expansion through regulatory, technical, or economic limitations. Opportunities represent areas for growth, like electric TRUs or expansion in emerging markets. Challenges, on the other hand, pose hurdles that industry participants must address, such as high capital costs or infrastructure gaps. Together, these dynamics provide a comprehensive framework for analyzing market performance, strategic planning, and forecasting in the truck refrigeration units sector.

DRIVER

Growing demand for temperature-sensitive food and pharmaceutical logistics.

The increase in consumption of perishable food products and the global expansion of pharmaceutical cold chains is significantly driving the truck refrigeration units market. In 2023, over 39 million metric tons of chilled and frozen food were transported using truck-based refrigeration globally. The rise of e-grocery platforms in North America, Europe, and parts of Asia contributed to over 64,000 new urban truck refrigeration unit installations. Meanwhile, pharmaceutical companies shipped more than 7.5 billion vaccine doses and 2.8 million metric tons of biologic and specialty drugs using cold chain transport, with trucks handling 62% of last-mile deliveries. Demand is further amplified by the need to maintain strict temperature ranges of 2°C to 8°C and -20°C for critical medical cargo.

RESTRAINT

High initial investment and fuel consumption.

Truck refrigeration units require significant upfront capital, with average small units costing between $5,000 and $10,000 and large diesel-powered systems exceeding $25,000 per installation. Additionally, conventional diesel-powered refrigeration units increase total fuel consumption by 0.6–1.2 liters per hour of operation, representing a 9–14% increase in operating costs. In 2023, high fuel prices in Europe and parts of Asia increased operational expenses for cold chain transporters by an average of 17%. These factors deter adoption among small fleet operators, especially in emerging markets with low access to capital subsidies or leasing options.

OPPORTUNITY

Expansion of EV-compatible and solar-powered refrigeration solutions.

Sustainability and energy independence are creating strong demand for alternative energy-powered refrigeration systems. In 2023, over 6,800 solar-assisted truck refrigeration systems were deployed globally, with China and Germany leading installations. These systems reduce reliance on fuel by up to 25%, offering long-term savings for fleet operators. Additionally, with electric vehicle (EV) commercial trucks gaining popularity—over 44,000 units sold in 2023—there is a rising need for refrigeration units compatible with 48V and 400V EV systems. Manufacturers are now designing battery-operated refrigeration units that maintain stable temperatures for over 6 hours without engine assistance, creating lucrative product development and investment opportunities.

CHALLENGE

Component shortages and supply chain delays.

Global supply chain disruptions in 2023 affected the availability of microcontrollers, compressors, and thermal sensors critical for advanced refrigeration units. Lead times for these components stretched from an average of 4 weeks to over 11 weeks for key parts, causing delays in assembly lines. In the U.S. and Europe, over 14,000 truck refrigeration orders faced delivery delays exceeding 60 days. This constrained the ability of fleet operators to upgrade or replace aging systems, particularly in the pharmaceutical and grocery sectors with strict delivery requirements. Additionally, rising raw material costs, including aluminum (up 9%) and copper (up 14%), increased production costs, squeezing margins for both OEMs and suppliers.

Truck Refrigeration Units Market Segmentation

The truck refrigeration units market is segmented by type and application. These segments help stakeholders understand product preferences and demand across various use cases and truck categories.

By Type

Small Truck Refrigeration Unit: Small units are typically installed on light-duty trucks and vans used for last-mile delivery. In 2023, over 115,000 units were sold globally in this category. These systems maintain temperatures from 0°C to 10°C and are popular in urban grocery and meal-kit delivery. Small electric units accounted for 18,000 of these, as fleet operators seek emissions compliance in densely populated cities like Los Angeles, Berlin, and Tokyo.
Medium Truck Refrigeration Unit: Medium units cater to mid-range transportation spanning 200 to 800 kilometers. Over 130,000 units were installed globally in 2023. These systems offer flexible temperature zoning and load capacity, ideal for regional distributors of dairy, meat, and vaccines. North America dominated this segment with 51,000 units deployed.
Larger Truck Refrigeration Unit: Designed for long-haul, high-volume logistics, large units are primarily diesel-powered and offer robust cooling between -30°C and +25°C. Approximately 45,000 large units were installed in 2023, with strong uptake in Brazil, the U.S., and Australia. These systems are often used for transporting bulk frozen products over intercity and cross-border routes.

By Application

Food & Beverages: This segment accounted for more than 70% of unit installations in 2023. Over 210,000 refrigeration units globally were used to transport produce, dairy, meat, and frozen food. The U.S., India, and China led deployment due to high volumes of processed food exports and domestic distribution.
Pharmaceuticals: Over 31,000 refrigeration units were used for pharmaceutical logistics in 2023, primarily for vaccines, biologics, and temperature-sensitive drugs. These units are configured for strict 2–8°C requirements, with 90% equipped with monitoring sensors. EU countries accounted for 44% of this segment due to stringent cold chain regulations.
Chemical Industry: Roughly 9,800 refrigeration units were used in 2023 to transport chemicals requiring thermal stability, such as adhesives and volatile organics. These units offer dual-compressor setups and thermal failsafe systems. Germany, South Korea, and the U.S. were the leading markets.
Plants/Flowers: About 4,000 units were utilized globally for floriculture shipments, with key markets including Kenya, the Netherlands, and Colombia. These units maintain optimal humidity and moderate temperatures to preserve freshness.
Others: Miscellaneous applications include refrigerated transport of cosmetics, beverages for events, and frozen pet foods. This category saw more than 7,000 unit deployments in 2023 across 24 countries.

Regional Outlook for the Truck Refrigeration Units Market

The truck refrigeration units market demonstrates strong regional variation driven by infrastructure, regulations, and end-user demand.

North America

North America led the global market with over 480,000 units in operation as of 2023. The U.S. accounted for 325,000 units, followed by Canada with 95,000 and Mexico with 60,000. Regulatory mandates from the EPA and California Air Resources Board (CARB) have boosted demand for electric and hybrid units. In 2023, more than 12,500 electric TRUs were sold in California alone. The growth of online grocery, with over 90 million active users, also propelled last-mile delivery system expansion.

Europe

Europe deployed over 370,000 refrigeration units, primarily in food logistics and pharmaceutical applications. Germany, France, and Italy were the top contributors, with Germany alone installing over 41,000 units in 2023. EU regulations targeting low-emission transport boosted demand for battery-powered and refrigerant-free cooling systems. The EU also funded cold chain development projects worth over €120 million in 2023.

Asia-Pacific

Asia-Pacific accounted for 445,000 installed units, driven by expanding cold chains in China, India, Japan, and Australia. China alone deployed over 190,000 units, with 43,000 new units added in 2023. India followed with 86,000 units, driven by perishable agriculture and vaccine logistics. The growing demand for refrigerated e-commerce delivery in South Korea and Japan led to over 16,000 smart units being installed in 2023.

Middle East & Africa

This region recorded more than 125,000 active refrigeration units in 2023. South Africa, UAE, and Egypt accounted for 65% of this total. Demand is primarily for food and pharmaceutical imports. The UAE added 4,600 new units in 2023, with Dubai acting as a regional cold chain hub. Limited infrastructure challenges broader deployment, although Kenya and Nigeria showed 12% and 9% growth, respectively, in new installations.

List of Top Truck Refrigeration Units Companies

Lamberet
Thermo King
Carrier Transicold
DENSO
Mitsubishi Heavy Industries
Guchen
Wabash National
MHI
Chereau
Great Dane
Zanotti
Kingtec
FRIGOBLOCK
GAH Refrigeration
Morgan
Sainte Marie

Thermo King: Thermo King maintained the highest market share in 2023, supplying more than 130,000 refrigeration units globally. The company leads in hybrid-electric TRUs, selling over 18,000 units across the U.S. and EU. It also dominates in telematics-integrated units, accounting for 33% of such installations globally.

Carrier Transicold: Carrier Transicold followed closely, delivering over 118,000 units globally in 2023. The company holds a strong position in North America and Europe and leads in low-GWP refrigerant-compatible units, contributing to over 26,000 eco-friendly system deployments worldwide.

Investment Analysis and Opportunities

The truck refrigeration units market presents growing investment opportunities driven by sustainability trends, cold chain expansion, and digital transformation. In 2023, global investments in truck refrigeration R&D exceeded $2.1 billion, with manufacturers focusing on improving energy efficiency, emissions reduction, and integration of smart technologies.

Private equity and venture capital funding in cold chain logistics grew substantially. In India, $187 million was invested into temperature-controlled logistics startups, expanding TRU fleets by more than 4,000 units. In the U.S., a major investment round of $250 million targeted solar-assisted refrigeration technology startups in California and Texas.

Green financing initiatives are fueling innovation. Over 38 public-private partnership projects were launched globally to promote electric and solar-powered TRUs. The European Union invested over €60 million into developing zero-emission refrigeration units for last-mile grocery fleets across 14 member countries. Meanwhile, in China, government subsidies covered up to 25% of TRU retrofitting costs for over 12,000 small logistics companies.

Opportunities are expanding in emerging markets. Africa and Southeast Asia are projected to require 90,000 new refrigerated transport units over the next five years due to rising food and pharma imports. Vietnam, Indonesia, and Nigeria are key beneficiaries of multilateral development bank (MDB) financing for cold chain infrastructure.

Fleet telematics integration is another investment hotspot. By the end of 2023, over 64,000 TRUs were running on predictive maintenance software platforms, saving operators up to 15% in annual service costs. Investors are actively targeting startups developing plug-and-play IoT modules for TRUs. Additionally, battery technology for autonomous refrigeration has seen a 19% year-on-year investment increase.

Fleet leasing models are also evolving. Companies like Thermo King and Carrier are partnering with financial institutions to offer monthly payment-based access to advanced TRUs, enabling adoption by small and medium fleets. As of 2023, more than 21% of new units in North America were leased under such arrangements.

New Product Development

Innovation is accelerating across the truck refrigeration units market as OEMs compete to deliver high-efficiency, eco-friendly, and intelligent solutions. In 2023, over 145 new product SKUs were introduced across the small, medium, and large truck refrigeration categories.

Thermo King launched its e1000 Smart Hybrid Series, a fully electric refrigeration unit optimized for medium trucks. This model delivers temperature stability for up to 9 hours on a single battery charge and uses R-452A refrigerant, reducing GWP by 45% compared to legacy models. More than 3,000 units were sold within six months of release.

Carrier Transicold introduced the Vector HE series in early 2023, offering variable-speed compressor technology that cuts energy use by 27% and improves temperature control by ±0.5°C. These models are compatible with solar panel integration and EV power grids, targeting European urban distribution fleets.

DENSO developed a modular TRU for light commercial vehicles, the CoolX3000, featuring dual-zone cooling and adaptive fan speed control. The system weighs 18% less than comparable units and provides remote diagnostics via a mobile app. Japan saw the first deployment with over 2,500 orders fulfilled in 2023.

Five Recent Developments

Thermo King launched the e1000 Smart Hybrid Series with over 3,000 units sold in the first 6 months of 2023.
Carrier Transicold unveiled the Vector HE series with 27% reduced energy usage in Q2 2023.
Guchen developed and deployed 1,700 units of its SR-5500E electric TRU across China.
DENSO released the CoolX3000, achieving 2,500 orders in Japan with dual-zone functionality.
Zanotti launched the GreenLine 75, a solid-state TRU compliant with EU refrigerant regulations.

Report Coverage of Truck Refrigeration Units Market

This report provides in-depth analysis and market intelligence on the global truck refrigeration units industry, with comprehensive segmentation, trend mapping, competitive profiling, and investment insights. Covering 30+ countries across North America, Europe, Asia-Pacific, and Middle East & Africa, the report identifies key developments across commercial food logistics, pharmaceutical cold chains, and chemical transportation.

Detailed segmentation by product type includes small, medium, and large truck refrigeration units, with performance, technology, and application metrics for each. Application analysis spans five major verticals including food and beverage, pharmaceuticals, and chemicals—collectively accounting for over 90% of global TRU deployments.

The report highlights over 60 manufacturing companies, offering insights into product launches, patent filings, and strategic investments. Two leading firms—Thermo King and Carrier Transicold—are deeply analyzed with their unit sales, product development pipelines, and regional expansion data.

Market dynamics are evaluated based on 30+ primary factors, such as fuel cost trends, cold chain expansion projects, regulatory drivers, emissions standards, and supply chain bottlenecks. The report includes over 100 figures and tables to illustrate data trends.

Geographically, the study compares fleet size, unit type preferences, electrification rates, and infrastructure readiness across four key regions. Special attention is given to smart TRUs and clean refrigerant technologies, including their growth implications.

Finally, the report outlines 10+ investment hotspots, highlighting opportunities in electric TRUs, telematics integration, green financing, and leasing innovations. Backed by verified data from logistics fleets, government reports, and industry surveys, this report equips stakeholders with actionable insights to capitalize on emerging demand, improve operational efficiencies, and align with future transport regulations.