REFRIGERATED TRANSPORT MARKET ANALYSIS

Refrigerated Transport MarketSize and Trends

The Refrigerated Transport Market size was valued at USD 112.90 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. Refrigerated transportation also called as reefer freight. It is a method for shipping freight that requires temperature-controlled vehicles. The vehicle is used for refrigerated transportation that stores the products at the desired temperature during the transportation process. Growing demand for efficient distribution of perishable goods such as dairy products, beverages, processed meat, poultry products, ice cream, fruits, and other edible products, which may perish in the normal environmental conditions is expected to be one of the major factors that is expected to fuel growth of the refrigerated transport market over the forecast period.

Refrigerated Transport Market Trends:

Increasing demand for Pharmaceutical Drug Transport

Because most pharmaceutical drugs are temperature-sensitive, it is necessary to store and transport them in a controlled environment to ensure their efficacy and safety. For proper temperature-controlled transportation methods, like Refrigerated transports, to be effective in preventing shipment losses, growing accidents and incidents are now necessary. A number of pharmaceutical companies have begun trading internationally in order to increase their revenue as a result of advancements in the technology of refrigerated transport and a decrease in shipping costs.

Biologics, cellular therapies, vaccines, and blood products are in higher demand and need temperature-controlled storage and transportation containers.