Market Size of United States Refrigerated Trucking Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
US Refrigerated Trucking Market Analysis
The US refrigerated trucking market is expected to register a CAGR of more than 4% during the forecast period (2023-2028).
- The COVID-19 crisis significantly impacted refrigerated truck transportation in the country due to lockdown restrictions, labor shortages, etc. As per the USDA's Economic Research Service (ERS), the combination of shutdowns and shifts in consumer demand has affected fresh produce markets. The increasing demand for fresh vegetables, fruits, and packaged foods surged due to panic-buying behaviors among consumers. The sector is recovering from the effects of the pandemic.
- Agriculture is one of the major end users of the refrigerated trucking industry in the United States. The growth in agriculture products and increasing trade have led to a growing dependence on the refrigerated trucking industry. The overall number of farms was over two million in 2021. Farms in the United States are typically 445 acres in size, with around 89 million acres of farmland. The total real estate value of farmed land in the United States was approximately USD 2.9 trillion.
- The refrigerated transport sector is reviving due to its importance in the food supply chain. However, the pharmaceutical transportation industry also registered huge demand for refrigerated trucking during the pandemic.
