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Cold Chain Equipment Market By Type (Storage Equipment [On-grid (Walk-in Coolers, Walk-in Freezers, Ice-lined Refrigerators, Deep Freezers), Off-grid (Solar Chillers, Milk Coolers, Solar Powered Cold Boxes, Others), Others], Transportation Equipment); By Application (Fruits & Vegetables, Fruit & Pulp Concentrates, Dairy Products, Fish, Meat, & Seafood, Others); By Region – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

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Published: | Report ID: 3766 | Report Format : PDF
REPORT ATTRIBUTE DETAILS
Historical Period  2019-2022
Base Year  2023
Forecast Period  2024-2032
Cold Chain Equipment Market Size 2023  USD 16,029.34 Million
Cold Chain Equipment Market, CAGR  21.50%
Cold Chain Equipment Market Size 2032  USD 92,491.57 Million

Market Overview

The Cold Chain Equipment Market is projected to grow from USD 16,029.34 million in 2023 to an estimated USD 92,491.57 million by 2032, with a compound annual growth rate (CAGR) of 21.50% from 2024 to 2032. This rapid growth is driven by the increasing demand for temperature-sensitive products across various industries, including food, pharmaceuticals, and biotechnology.

The market is primarily driven by the growing focus on reducing food waste, stringent regulations for food safety, and the rising demand for biopharmaceutical products. Additionally, technological advancements in refrigeration and cooling systems have enhanced the efficiency and reliability of cold chain equipment, further boosting market growth. Trends such as the integration of IoT and smart monitoring systems are also gaining traction, offering better real-time visibility and control over temperature-sensitive shipments.

Geographically, North America and Europe hold significant market shares due to their advanced infrastructure and strict regulations on food and drug safety. However, the Asia Pacific region is expected to witness the highest growth, driven by rapid urbanization, growing disposable incomes, and the increasing need for cold storage in emerging markets. Key players in the market include Carrier Transicold, Thermo King, Daikin Industries Ltd., and Lineage Logistics Holdings, LLC, among others.

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Market Drivers

Rising Demand for Temperature-Sensitive Products

One of the primary drivers of the cold chain equipment market is the increasing demand for temperature-sensitive products across various industries, including food, pharmaceuticals, and biotechnology. With a growing global population and changes in dietary preferences, there has been a substantial increase in the consumption of perishable food items such as fruits, vegetables, dairy, meat, and seafood. These products require precise temperature control to maintain freshness, nutritional value, and safety during transportation and storage. Cold chain equipment, including refrigeration units, temperature monitoring devices, and insulated containers, plays a vital role in ensuring these products reach consumers without compromising quality.In the pharmaceutical and biotechnology sectors, the demand for cold chain solutions is even more critical due to the sensitivity of drugs, vaccines, and biologics. For instance, vaccines such as those developed for COVID-19 often require ultra-low temperatures during storage and transportation to retain their efficacy. As new biopharmaceutical products and therapies are introduced to the market, the need for advanced cold chain equipment will continue to rise, ensuring the safe delivery of these life-saving products to healthcare providers and patients worldwide. Furthermore, the rise of personalized medicine and gene therapies, which often require specific storage conditions, is expected to drive significant demand for cold chain infrastructure.

Stringent Regulations on Food and Drug Safety

Government regulations and international standards regarding food and drug safety are major factors propelling the growth of the cold chain equipment market. In many regions, authorities have implemented stringent regulations to prevent contamination, spoilage, and the degradation of perishable goods during transportation and storage. Regulatory bodies such as the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA), and other national health agencies impose strict guidelines on the handling and storage of temperature-sensitive products to ensure public safety.For the food industry, regulations such as the Food Safety Modernization Act (FSMA) in the U.S. emphasize preventive controls for minimizing risks associated with foodborne illnesses. Cold chain equipment is essential for complying with these regulations, as it ensures that perishable goods are stored and transported under optimal conditions, reducing the risk of contamination and spoilage. Similarly, in the pharmaceutical sector, cold chain management is critical for maintaining the integrity of vaccines, biologics, and drugs. Compliance with Good Distribution Practice (GDP) guidelines, which set out standards for the proper distribution of medicinal products, is vital for pharmaceutical companies to avoid product recalls and ensure the safety of end users. The need to adhere to these stringent regulations drives the demand for reliable and high-quality cold chain equipment, as companies must invest in technology that meets compliance requirements.

Technological Advancements in Cold Chain Solutions

Advancements in cold chain technology are another significant driver of the market. Over the past decade, innovations in refrigeration systems, temperature monitoring, and packaging materials have greatly improved the efficiency and reliability of cold chain logistics. One of the most notable advancements is the integration of Internet of Things (IoT) technology in cold chain equipment. IoT-enabled sensors and devices allow for real-time monitoring of temperature, humidity, and other critical parameters throughout the supply chain. This technology enables companies to detect and address potential issues before they escalate, reducing the risk of product spoilage and ensuring compliance with regulatory standards. Additionally, advancements in refrigeration technologies have led to the development of more energy-efficient systems, which not only reduce operational costs but also minimize the environmental impact of cold chain logistics. For example, the use of natural refrigerants, such as carbon dioxide (CO2) and ammonia (NH3), is gaining popularity as companies seek to reduce their carbon footprint and meet sustainability goals. Moreover, innovations in packaging materials, such as vacuum-insulated panels and phase change materials, have enhanced the insulation capabilities of cold chain containers, further improving the protection of temperature-sensitive goods during transit. These technological advancements are expected to play a crucial role in driving the adoption of cold chain equipment, particularly as companies seek to optimize their supply chain operations and improve sustainability.

Expansion of Global Trade and E-Commerce in Perishable Goods

The globalization of trade and the rise of e-commerce have significantly contributed to the growth of the cold chain equipment market. As international trade expands, there is a growing need for efficient and reliable cold chain solutions to transport perishable goods across borders. Countries are increasingly importing and exporting temperature-sensitive products such as fresh produce, seafood, dairy products, and pharmaceuticals. This has created a demand for advanced cold storage facilities, refrigerated trucks, and temperature-controlled shipping containers to ensure that products maintain their quality throughout long-distance transportation.The rise of e-commerce has further accelerated the need for cold chain logistics, particularly in the food and beverage sector. With the increasing popularity of online grocery shopping and meal kit delivery services, consumers expect fresh and high-quality products to be delivered directly to their doorsteps. This has put pressure on companies to invest in cold chain infrastructure to meet consumer expectations for freshness and safety. The growth of e-commerce platforms specializing in perishable goods, such as Amazon Fresh and HelloFresh, has amplified the demand for cold chain equipment, as these companies require robust systems to manage their logistics efficiently. Furthermore, the expansion of the pharmaceutical industry into emerging markets has increased the need for cold chain solutions to distribute drugs and vaccines to remote areas. As pharmaceutical companies target new markets, they must overcome logistical challenges related to transportation and storage, particularly in regions with limited cold chain infrastructure. The investment in cold chain equipment, such as portable refrigeration units and temperature-controlled warehouses, is essential to meet the growing demand for life-saving medicines in these markets. Overall, the globalization of trade and the rise of e-commerce are key factors driving the expansion of the cold chain equipment market.

Market Trends

Integration of IoT and Advanced Monitoring Technologies

One of the most significant trends shaping the cold chain equipment market is the integration of Internet of Things (IoT) technology and advanced monitoring systems. Companies are increasingly adopting IoT-enabled cold chain equipment to gain real-time visibility and control over temperature-sensitive products throughout the supply chain. These technologies allow for constant monitoring of critical parameters such as temperature, humidity, and location, ensuring that goods are transported and stored under optimal conditions. For instance, IoT-enabled sensors and devices provide real-time monitoring of temperature and humidity, allowing companies to detect and address potential issues before they escalate. This trend is particularly important for the pharmaceutical and food industries, where strict regulatory compliance and product safety are paramount. With IoT integration, businesses can not only ensure the integrity of their products but also optimize operational efficiency by reducing the risk of product spoilage and minimizing energy consumption.

Growing Focus on Sustainability and Energy Efficiency

Another prominent trend in the cold chain equipment market is the growing emphasis on sustainability and energy efficiency. As businesses face increasing pressure to reduce their carbon footprint, the adoption of environmentally friendly cold chain solutions is gaining momentum. This has led to innovations in refrigeration technologies, such as the use of natural refrigerants like carbon dioxide (CO2) and ammonia (NH3), which have lower global warming potential (GWP) compared to traditional synthetic refrigerants. In addition, manufacturers are developing more energy-efficient cold chain equipment to reduce operational costs and minimize the environmental impact. The trend toward sustainability is also driving the development of eco-friendly packaging materials, such as biodegradable and reusable insulated containers. Companies are adopting these solutions not only to meet regulatory requirements but also to align with consumer preferences for environmentally responsible practices. As the demand for green logistics increases, the cold chain equipment market is expected to continue evolving toward more sustainable, energy-efficient solutions.

Market Restraints and Challenges

High Initial Investment and Operational Costs

One of the primary restraints in the cold chain equipment market is the high initial investment and operational costs associated with setting up and maintaining cold chain infrastructure. Cold storage facilities, refrigerated vehicles, and advanced temperature monitoring systems require significant capital expenditure. Small and medium-sized enterprises (SMEs) may struggle to afford such investments, limiting their participation in the market. Additionally, the operational costs of running cold chain equipment, such as energy consumption and routine maintenance, can be substantial. With the need for continuous refrigeration and strict temperature control, businesses must account for the high electricity consumption, particularly in regions with limited energy efficiency regulations. As a result, companies operating in areas with high energy costs face increased operational expenses, which can impact profitability and discourage further investment in cold chain infrastructure. This high cost barrier presents a challenge, particularly in developing markets where cold chain logistics are still emerging.

Lack of Skilled Workforce and Infrastructure in Emerging Markets

Another significant challenge for the cold chain equipment market is the lack of skilled workforce and adequate infrastructure, particularly in developing regions. Operating and maintaining advanced cold chain systems require specialized knowledge and training. Many emerging markets face a shortage of trained personnel who can handle temperature-sensitive products and manage cold chain equipment efficiently. This skills gap can lead to operational inefficiencies, equipment malfunctions, and, in worst-case scenarios, product spoilage. Moreover, the lack of proper infrastructure, such as reliable electricity and road networks, poses a significant challenge in regions with underdeveloped logistics systems. In areas where the cold chain network is fragmented or poorly integrated, businesses may struggle to ensure the consistent temperature control necessary for perishable goods. Addressing these challenges requires investments in training programs, infrastructure development, and government support to ensure the smooth operation of cold chain logistics in emerging markets.

Market Segmentation Analysis

By Type

The Cold Chain Equipment Market is segmented by type, which includes storage equipment and transportation equipment. Storage equipment is further categorized into on-grid and off-grid systems. On-grid storage equipment includes products such as walk-in coolers, walk-in freezers, ice-lined refrigerators, and deep freezers, which are commonly used in facilities with stable access to electricity. These systems are widely adopted in developed regions with advanced infrastructure. Off-grid storage equipment, such as solar chillers, milk coolers, solar-powered cold boxes, and other alternatives, are gaining traction in remote and rural areas where electricity access is limited. This category is expected to see significant growth as it addresses the challenges of temperature control in areas with unreliable power supply. Additionally, innovations in solar-powered refrigeration systems are playing a key role in expanding cold chain infrastructure to underserved regions.  Transportation equipment, which includes refrigerated trucks, containers, and other temperature-controlled vehicles, is another essential component of the cold chain market. This segment is critical for the safe transport of temperature-sensitive products across long distances, ensuring product quality and safety from the point of production to the final destination.

By Application

The cold chain equipment market is also segmented by application, serving various industries that require precise temperature control. Fruits and vegetables form a significant portion of cold chain applications due to their perishable nature. Proper storage and transportation are essential to maintain freshness and reduce food waste. Similarly, fruit and pulp concentrates rely on cold chain logistics to preserve flavor and quality. The dairy products segment, including milk, cheese, and yogurt, is another major area where cold chain solutions are critical to preventing spoilage and extending shelf life. The fish, meat, and seafood industry also represents a large share of cold chain equipment applications, as these products are highly perishable and require stringent temperature control during storage and transportation. Lastly, the others category encompasses pharmaceuticals, vaccines, and other products that demand specific temperature conditions for safety and efficacy, making cold chain equipment indispensable in the healthcare sector.

Segments

Based on type

  • Storage Equipment
  • On-grid
  • Walk-in Coolers
  • Walk-in Freezers
  • Ice-lined Refrigerators
  • Deep Freezers
  • Off-grid
  • Solar Chillers
  • Milk Coolers
  • Solar Powered Cold Boxes
  • Others
  • Others
  • Transportation Equipment

Based on application

  • Fruits & Vegetables
  • Fruit & Pulp Concentrates
  • Dairy Products
  • Fish, Meat, & Seafood
  • Others

Based on region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa

Regional Analysis

North America (35%):

The Cold Chain Equipment Market is experiencing robust growth across several regions, with varying levels of market maturity and potential. North America currently holds the largest market share, accounting for approximately 35% of the global market. The region’s dominance is driven by advanced infrastructure, stringent food and drug safety regulations, and the growing demand for temperature-sensitive products such as pharmaceuticals, vaccines, and fresh produce. The United States, in particular, has a well-established cold chain network, with significant investments in both storage and transportation equipment to ensure compliance with safety standards.

Europe (28%):

Europe follows closely, with a market share of around 28%. The region is characterized by high demand for cold chain equipment in the food and beverage sector, as well as the pharmaceutical industry. Countries such as Germany, France, and the United Kingdom are major contributors to the European market, owing to their strong regulatory frameworks and consumer preferences for fresh, perishable products. Additionally, the region’s focus on sustainability is leading to increased investments in energy-efficient and eco-friendly cold chain technologies, further driving market growth.

Key players

  • Thermo King
  • Carrier Transicold
  • Zanotti Spa
  • Riva Cold Srl
  • Kason Industries, Inc.
  • Viessmann
  • Schmitz Cargobull
  • Fermor
  • Intertecnica
  • ebm-papst Group
  • CAREL
  • Bitzer
  • Kelvion
  • In Cold S.p.A.

Competitive Analysis

The Cold Chain Equipment Market is highly competitive, with key players focusing on innovation, sustainability, and geographic expansion to strengthen their market positions. Companies like Thermo King and Carrier Transicold lead the market with advanced refrigeration solutions for both storage and transportation equipment, emphasizing energy efficiency and technological integration. Zanotti Spa and Riva Cold Srl specialize in flexible cold storage solutions, while Viessmann and Schmitz Cargobull focus on offering eco-friendly and high-performance cold chain technologies. ebm-papst Group, CAREL, and Bitzer contribute by offering components like energy-efficient fans and compressors, which are critical in enhancing cold chain systems’ overall performance. These players are investing in research and development to address the growing demand for sustainable, low-emission technologies, while also expanding their presence in emerging markets such as Asia Pacific and Latin America. This competitive landscape drives innovation and fosters advancements in cold chain logistics globally.

Recent Developments

  • In May 2024, Thermo King showcased its sustainable cold chain solutions at the ACT Expo 2024, including electric, hybrid, and connected solutions.
  • In September 2024, Carrier Transicold introduced the Supra S10MT for straight trucks with multi-temp capabilities.
  • In July 2024, Kason Corporation launched the KR3020-SS High-Capacity Batch Sifter.
  • In January 2024, Carrier Global Corporation completed its acquisition of Viessmann Climate Solutions.
  • In June 2024, Schmitz Cargobull acquired a majority stake in Atlantis Global System, a Spanish telematics specialist for refrigerated logistics.
  • In March 2024, Siemens AG signed an agreement to acquire the industrial drive technology business of ebm-papst.

Market Concentration and Characteristics 

The Cold Chain Equipment Market is moderately concentrated, with a few major players like Thermo King, Carrier Transicold, and Viessmann holding significant market shares, alongside several regional and specialized companies. These key players dominate the market by offering a broad range of innovative, energy-efficient solutions for both storage and transportation equipment, catering to diverse industries such as food, pharmaceuticals, and biotechnology. The market is characterized by increasing competition, driven by advancements in IoT-enabled monitoring systems, a growing emphasis on sustainability, and the rising demand for temperature-sensitive goods. Additionally, the market features both global leaders and smaller regional players, creating a dynamic landscape where technological innovation and geographic expansion are key competitive strategies.

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Report Coverage

The research report offers an in-depth analysis based on type, application and Region. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

  1. The Cold Chain Equipment Market is expected to grow significantly, driven by rising demand for temperature-sensitive products across industries such as food, pharmaceuticals, and biotechnology.
  2. The integration of IoT and advanced monitoring systems will continue to evolve, providing real-time tracking and ensuring enhanced temperature control throughout the cold chain process.
  3. The industry will see a growing shift towards energy-efficient and environmentally friendly refrigeration technologies, as companies aim to reduce their carbon footprints.
  4. Rapid urbanization and increasing disposable incomes in Asia Pacific, Latin America, and Africa will boost demand for cold chain solutions in these regions.
  5. The growth of the pharmaceutical industry, especially in the distribution of vaccines and biologics, will significantly drive demand for cold chain equipment globally.
  6. Innovations in cold storage technologies, including off-grid and solar-powered refrigeration systems, will play a critical role in expanding the cold chain infrastructure in remote areas.
  7. The rising trend of online grocery shopping and meal kit delivery services will accelerate the demand for cold chain logistics to ensure the safe delivery of fresh produce.
  8. Governments worldwide will impose stricter regulations on food and drug safety, encouraging greater investment in advanced cold chain equipment to meet compliance standards.
  9. The development of eco-friendly and temperature-resistant packaging materials will gain importance as companies focus on product safety and environmental sustainability.
  10. As demand for cold chain logistics grows, significant investments in infrastructure development, including cold storage facilities and transportation networks, are expected to rise, particularly in developing regions.

CHAPTER NO. 1 , INTRODUCTION 18
1.1.1. Report Description 18
Purpose of the Report 18
USP & Key Offerings 18
1.1.2. Key Benefits for Stakeholders 18
1.1.3. Target Audience 19
1.1.4. Report Scope 19
CHAPTER NO. 2 , EXECUTIVE SUMMARY 20
2.1. Cold Chain Equipment Market Snapshot 20
2.1.1. Global Cold Chain Equipment Market, 2018 – 2032 (USD Million) 21
CHAPTER NO. 3 , GEOPOLITICAL CRISIS IMPACT ANALYSIS 22
3.1. Russia-Ukraine and Israel-Palestine War Impacts 22
CHAPTER NO. 4 , COLD CHAIN EQUIPMENT MARKET – INDUSTRY ANALYSIS 23
4.1. Introduction 23
4.2. Market Drivers 24
4.2.1. Driving Factor 1 Analysis 24
4.2.2. Driving Factor 2 Analysis 25
4.3. Market Restraints 26
4.3.1. Restraining Factor Analysis 26
4.4. Market Opportunities 27
4.4.1. Market Opportunity Analysis 27
4.5. Porter’s Five Forces Analysis 28
CHAPTER NO. 5 , ANALYSIS COMPETITIVE LANDSCAPE 29
5.1. Company Market Share Analysis – 2023 29
5.1.1. Global Cold Chain Equipment Market, Company Market Share, Based on Volume, 2023 29
5.1.2. Global Cold Chain Equipment Market, Company Market Share, Based on Revenue, 2023 30
5.1.3. Global Cold Chain Equipment Market, Top 6 Company Market Share, Based on Revenue, 2023 30
5.1.4. Global Cold Chain Equipment Market, Top 3 Company Market Share, Based on Revenue, 2023 31
5.2. Global Cold Chain Equipment Market Company Revenue Market Share, 2023 32
5.3. Company Assessment Metrics, 2023 33
5.3.1. Stars 33
5.3.2. Emerging Leaders 33
5.3.3. Pervasive Players 33
5.3.4. Participants 33
5.4. Start-ups /SMEs Assessment Metrics, 2023 33
5.4.1. Progressive Companies 33
5.4.2. Responsive Companies 33
5.4.3. Dynamic Companies 33
5.4.4. Starting Blocks 33
5.5. Strategic Developments 34
5.5.1. Acquisitions & Mergers 34
New Product Launch 34
Global Expansion 34
5.6. Key Players Product Matrix 35
CHAPTER NO. 6 , PESTEL & ADJACENT MARKET ANALYSIS 36
6.1. PESTEL 36
6.1.1. Political Factors 36
6.1.2. Economic Factors 36
6.1.3. Social Factors 36
6.1.4. Technological Factors 36
6.1.5. Environmental Factors 36
6.1.6. Legal Factors 36
6.2. Adjacent Market Analysis 36
CHAPTER NO. 7 , COLD CHAIN EQUIPMENT MARKET – BASED ON TYPE SEGMENT ANALYSIS 37
7.1. Cold Chain Equipment Market Overview, Based on Type Segment 37
7.1.1. Cold Chain Equipment Market Revenue Share, Based on Type, 2023 & 2032 38
7.1.2. Cold Chain Equipment Market Attractiveness Analysis, Based on Type 39
7.1.3. Incremental Revenue Growth Opportunity, Based on Type, 2024 – 2032 39
7.1.4. Cold Chain Equipment Market Revenue, Based on Type, 2018, 2023, 2027 & 2032 40
7.2. Storage Equipment 41
7.2.1. On-grid 41
7.2.1.1. Walk-in Coolers 42
7.2.1.2. Walk-in Freezers 42
7.2.1.3. Ice-lined Refrigerators 43
7.2.1.4. Deep Freezers 43
7.2.2. Off-grid 44
7.2.2.1. Solar Chillers 44
7.2.2.2. Milk Coolers 45
7.2.2.3. Solar Powered Cold Boxes 45
7.2.2.4. Others 46
7.2.3. Others 46
7.3. Transportation Equipment 47
CHAPTER NO. 8 , COLD CHAIN EQUIPMENT MARKET – BASED ON APPLICATION SEGMENT ANALYSIS 48
8.1. Cold Chain Equipment Market Overview, Based on Application Segment 48
8.1.1. Cold Chain Equipment Market Revenue Share, Based on Application, 2023 & 2032 49
8.1.2. Cold Chain Equipment Market Attractiveness Analysis, Based on Application 50
8.1.3. Incremental Revenue Growth Opportunity, Based on Application, 2024 – 2032 50
8.1.4. Cold Chain Equipment Market Revenue, Based on Application, 2018, 2023, 2027 & 2032 51
8.2. Fruits & Vegetables 52
8.3. Fruit & Pulp Concentrates 53
8.4. Dairy Products 54
8.5. Fish, Meat, & Seafood 55
8.6. Others 56
CHAPTER NO. 9 , COLD CHAIN EQUIPMENT MARKET – GLOBAL ANALYSIS 57
9.1. Type 57
9.1.1. Global Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 57
9.2. Global Cold Chain Equipment Market Revenue, Based on Type, 2024 – 2032 (USD Million) 57
9.3. Application 58
9.3.1. Global Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 58
9.3.2. Global Cold Chain Equipment Market Revenue, Based on Application, 2024 – 2032 (USD Million) 58
CHAPTER NO. 10 , COLD CHAIN EQUIPMENT MARKET – NORTH AMERICA 59
10.1. North America 59
10.1.1. Key Highlights 59
10.1.2. North America Cold Chain Equipment Market Revenue, Based on Country, 2018 – 2023 (USD Million) 60
10.1.3. North America Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 61
10.1.4. North America Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 62
10.2. U.S. 63
10.3. Canada 63
10.4. Mexico 63
CHAPTER NO. 11 , COLD CHAIN EQUIPMENT MARKET – EUROPE 64
11.1. Europe 64
11.1.1. Key Highlights 64
11.1.2. Europe Cold Chain Equipment Market Revenue, Based on Country, 2018 – 2023 (USD Million) 65
11.1.3. Europe Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 66
11.1.4. Europe Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 67
11.2. UK 68
11.3. France 68
11.4. Germany 68
11.5. Italy 68
11.6. Spain 68
11.7. Russia 68
11.8. Belgium 68
11.9. Netherland 68
11.10. Austria 68
11.11. Sweden 68
11.12. Poland 68
11.13. Denmark 68
11.14. Switzerland 68
11.15. Rest of Europe 68
CHAPTER NO. 12 , COLD CHAIN EQUIPMENT MARKET – ASIA PACIFIC 69
12.1. Asia Pacific 69
12.1.1. Key Highlights 69
12.1.2. Asia Pacific Cold Chain Equipment Market Revenue, Based on Country, 2018 – 2023 (USD Million) 70
12.1.3. Asia Pacific Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 71
12.1.4. Asia Pacific Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 72
12.2. China 73
12.3. Japan 73
12.4. South Korea 73
12.5. India 73
12.6. Australia 73
12.7. Thailand 73
12.8. Indonesia 73
12.9. Vietnam 73
12.10. Malaysia 73
12.11. Philippines 73
12.12. Taiwan 73
12.13. Rest of Asia Pacific 73
CHAPTER NO. 13 , COLD CHAIN EQUIPMENT MARKET – LATIN AMERICA 74
13.1. Latin America 74
13.1.1. Key Highlights 74
13.1.2. Latin America Cold Chain Equipment Market Revenue, Based on Country, 2018 – 2023 (USD Million) 75
13.1.3. Latin America Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 76
13.1.4. Latin America Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 77
13.2. Brazil 78
13.3. Argentina 78
13.4. Peru 78
13.5. Chile 78
13.6. Colombia 78
13.7. Rest of Latin America 78
CHAPTER NO. 14 , COLD CHAIN EQUIPMENT MARKET – MIDDLE EAST 79
14.1. Middle East 79
14.1.1. Key Highlights 79
14.1.2. Middle East Cold Chain Equipment Market Revenue, Based on Country, 2018 – 2023 (USD Million) 80
14.1.3. Middle East Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 81
14.1.4. Middle East Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 82
14.2. UAE 83
14.3. KSA 83
14.4. Israel 83
14.5. Turkey 83
14.6. Iran 83
14.7. Rest of Middle East 83
CHAPTER NO. 15 , COLD CHAIN EQUIPMENT MARKET – AFRICA 84
15.1. Africa 84
15.1.1. Key Highlights 84
15.1.2. Africa Cold Chain Equipment Market Revenue, Based on Country, 2018 – 2023 (USD Million) 85
15.1.3. Africa Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 86
15.1.4. Africa Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 87
15.2. Egypt 88
15.3. Nigeria 88
15.4. Algeria 88
15.5. Morocco 88
15.6. Rest of Africa 88
CHAPTER NO. 16 , COMPANY PROFILES 89
16.1. Thermos King 89
16.1.1. Company Overview 89
16.1.2. Product Portfolio 89
16.1.3. Swot Analysis 89
16.1.4. Business Strategy 90
16.1.5. Financial Overview 90
16.2. Carrier Transicold 91
16.3. Zanotti Spa 91
16.4. Riva cold srl 91
16.5. Kason Industries, Inc. 91
16.6. Viessmann 91
16.7. Schmitz Cargo bull 91
16.8. Fermor 91
16.9. Intertecnica 91
16.10. ebm-papst Group 91
16.11. CAREL 91
16.12. Bitzer 91
16.13. Kelvion 91
16.14. In cold S.p.A. 91
CHAPTER NO. 17 , RESEARCH METHODOLOGY 92
17.1. Research Methodology 92
17.1.1. Phase I – Secondary Research 93
17.1.2. Phase II – Data Modeling 93
Company Share Analysis Model 94
Revenue Based Modeling 94
17.1.3. Phase III – Primary Research 95
17.1.4. Research Limitations 96
Assumptions 96

List of Figures
FIG NO. 1. Global Cold Chain Equipment Market Revenue, 2018 – 2032 (USD Million) 23
FIG NO. 2. Porter’s Five Forces Analysis for Global Cold Chain Equipment Market 30
FIG NO. 3. Company Share Analysis, 2023 31
FIG NO. 4. Company Share Analysis, 2023 32
FIG NO. 5. Company Share Analysis, 2023 32
FIG NO. 6. Company Share Analysis, 2023 33
FIG NO. 7. Cold Chain Equipment Market – Company Revenue Market Share, 2023 34
FIG NO. 8. Cold Chain Equipment Market Revenue Share, Based on Type, 2023 & 2032 40
FIG NO. 9. Market Attractiveness Analysis, Based on Type 41
FIG NO. 10. Incremental Revenue Growth Opportunity Based on Type, 2024 – 2032 41
FIG NO. 11. Cold Chain Equipment Market Revenue, Based on Type, 2018, 2023, 2027 & 2032 42
FIG NO. 12. Global Cold Chain Equipment Market for Storage Equipment, Revenue (USD Million) 2018 – 2032 43
FIG NO. 13. Global Cold Chain Equipment Market for On-grid, Revenue (USD Million) 2018 – 2032 43
FIG NO. 14. Global Cold Chain Equipment Market for Walk-in Coolers, Revenue (USD Million) 2018 – 2032 44
FIG NO. 15. Global Cold Chain Equipment Market for Walk-in Freezers, Revenue (USD Million) 2018 – 2032 44
FIG NO. 16. Global Cold Chain Equipment Market for Ice-lined Refrigerators, Revenue (USD Million) 2018 – 2032 45
FIG NO. 17. Global Cold Chain Equipment Market for Deep Freezers, Revenue (USD Million) 2018 – 2032 45
FIG NO. 18. Global Cold Chain Equipment Market for Off-grid, Revenue (USD Million) 2018 – 2032 46
FIG NO. 19. Global Cold Chain Equipment Market for Solar Chillers, Revenue (USD Million) 2018 – 2032 46
FIG NO. 20. Global Cold Chain Equipment Market for Milk Coolers, Revenue (USD Million) 2018 – 2032 47
FIG NO. 21. Global Cold Chain Equipment Market for Solar Powered Cold Boxes, Revenue (USD Million) 2018 – 2032 47
FIG NO. 22. Global Cold Chain Equipment Market for Others, Revenue (USD Million) 2018 – 2032 48
FIG NO. 23. Global Cold Chain Equipment Market for Others, Revenue (USD Million) 2018 – 2032 48
FIG NO. 24. Global Cold Chain Equipment Market for Transportation Equipment, Revenue (USD Million) 2018 – 2032 49
FIG NO. 25. Cold Chain Equipment Market Revenue Share, Based on Application, 2023 & 2032 51
FIG NO. 26. Market Attractiveness Analysis, Based on Application 52
FIG NO. 27. Incremental Revenue Growth Opportunity Based on Application, 2024 – 2032 52
FIG NO. 28. Cold Chain Equipment Market Revenue, Based on Application, 2018, 2023, 2027 & 2032 53
FIG NO. 29. Global Cold Chain Equipment Market for Fruits & Vegetables, Revenue (USD Million) 2018 – 2032 54
FIG NO. 30. Global Cold Chain Equipment Market for Fruit & Pulp Concentrates, Revenue (USD Million) 2018 – 2032 55
FIG NO. 31. Global Cold Chain Equipment Market for Dairy Products, Revenue (USD Million) 2018 – 2032 56
FIG NO. 32. Global Cold Chain Equipment Market for Fish, Meat, & Seafood, Revenue (USD Million) 2018 – 2032 57
FIG NO. 33. Global Cold Chain Equipment Market for Others, Revenue (USD Million) 2018 – 2032 58
FIG NO. 34. North America Cold Chain Equipment Market Revenue, 2018 – 2032 (USD Million) 61
FIG NO. 35. Europe Cold Chain Equipment Market Revenue, 2018 – 2032 (USD Million) 66
FIG NO. 36. Asia Pacific Cold Chain Equipment Market Revenue, 2018 – 2032 (USD Million) 71
FIG NO. 37. Latin America Cold Chain Equipment Market Revenue, 2018 – 2032 (USD Million) 76
FIG NO. 38. Middle East Cold Chain Equipment Market Revenue, 2018 – 2032 (USD Million) 81
FIG NO. 39. Africa Cold Chain Equipment Market Revenue, 2018 – 2032 (USD Million) 86
FIG NO. 40. Research Methodology – Detailed View 94
FIG NO. 41. Research Methodology 95

List of Tables
TABLE NO. 1. , Global Cold Chain Equipment Market, Snapshot 20
TABLE NO. 2. , Drivers for the Cold Chain Equipment Market, Impact Analysis 24
TABLE NO. 3. , Restraints for the Cold Chain Equipment Market, Impact Analysis 26
TABLE NO. 4. , Global Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 57
TABLE NO. 5. , Global Cold Chain Equipment Market Revenue, Based on Type, 2024 – 2032 (USD Million) 57
TABLE NO. 6. , Global Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 58
TABLE NO. 7. , Global Cold Chain Equipment Market Revenue, Based on Application, 2024 – 2032 (USD Million) 58
TABLE NO. 8. , North America Cold Chain Equipment Market Revenue, Based on Country, 2018 – 2023 (USD Million) 60
TABLE NO. 9. , North America Cold Chain Equipment Market Revenue, Based on Country, 2024 – 2032 (USD Million) 60
TABLE NO. 10. , North America Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 61
TABLE NO. 11. , North America Cold Chain Equipment Market Revenue, Based on Type, 2024 – 2032 (USD Million) 61
TABLE NO. 12. , North America Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 62
TABLE NO. 13. , North America Cold Chain Equipment Market Revenue, Based on Application, 2024 – 2032 (USD Million) 62
TABLE NO. 14. , Europe Cold Chain Equipment Market Revenue, Based on Country, 2018 – 2023 (USD Million) 65
TABLE NO. 15. , Europe Cold Chain Equipment Market Revenue, Based on Country, 2024 – 2032 (USD Million) 65
TABLE NO. 16. , Europe Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 66
TABLE NO. 17. , Europe Cold Chain Equipment Market Revenue, Based on Type, 2024 – 2032 (USD Million) 66
TABLE NO. 18. , Europe Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 67
TABLE NO. 19. , Europe Cold Chain Equipment Market Revenue, Based on Application, 2024 – 2032 (USD Million) 67
TABLE NO. 20. , Asia Pacific Cold Chain Equipment Market Revenue, Based on Country, 2018 – 2023 (USD Million) 70
TABLE NO. 21. , Asia Pacific Cold Chain Equipment Market Revenue, Based on Country, 2024 – 2032 (USD Million) 70
TABLE NO. 22. , Asia Pacific Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 71
TABLE NO. 23. , Asia Pacific Cold Chain Equipment Market Revenue, Based on Type, 2024 – 2032 (USD Million) 71
TABLE NO. 24. , Asia Pacific Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 72
TABLE NO. 25. , Asia Pacific Cold Chain Equipment Market Revenue, Based on Application, 2024 – 2032 (USD Million) 72
TABLE NO. 26. , Latin America Cold Chain Equipment Market Revenue, Based on Country, 2018 – 2023 (USD Million) 75
TABLE NO. 27. , Latin America Cold Chain Equipment Market Revenue, Based on Country, 2024 – 2032 (USD Million) 75
TABLE NO. 28. , Latin America Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 76
TABLE NO. 29. , Latin America Cold Chain Equipment Market Revenue, Based on Type, 2024 – 2032 (USD Million) 76
TABLE NO. 30. , Latin America Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 77
TABLE NO. 31. , Latin America Cold Chain Equipment Market Revenue, Based on Application, 2024 – 2032 (USD Million) 77
TABLE NO. 32. , Middle East Cold Chain Equipment Market Revenue, Based on Country, 2018 – 2023 (USD Million) 80
TABLE NO. 33. , Middle East Cold Chain Equipment Market Revenue, Based on Country, 2024 – 2032 (USD Million) 80
TABLE NO. 34. , Middle East Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 81
TABLE NO. 35. , Middle East Cold Chain Equipment Market Revenue, Based on Type, 2024 – 2032 (USD Million) 81
TABLE NO. 36. , Middle East Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 82
TABLE NO. 37. , Middle East Cold Chain Equipment Market Revenue, Based on Application, 2024 – 2032 (USD Million) 82
TABLE NO. 38. , Africa Cold Chain Equipment Market Revenue, Based on Country, 2018 – 2023 (USD Million) 85
TABLE NO. 39. , Africa Cold Chain Equipment Market Revenue, Based on Country, 2024 – 2032 (USD Million) 85
TABLE NO. 40. , Africa Cold Chain Equipment Market Revenue, Based on Type, 2018 – 2023 (USD Million) 86
TABLE NO. 41. , Africa Cold Chain Equipment Market Revenue, Based on Type, 2024 – 2032 (USD Million) 86
TABLE NO. 42. , Africa Cold Chain Equipment Market Revenue, Based on Application, 2018 – 2023 (USD Million) 87
TABLE NO. 43. , Africa Cold Chain Equipment Market Revenue, Based on Application, 2024 – 2032 (USD Million) 87

Frequently Asked Questions

What was the market size of the Cold Chain Equipment Market in 2023, and what is it expected to be by 2032?

The Cold Chain Equipment Market was valued at USD 16,029.34 million in 2023 and is projected to reach USD 92,491.57 million by 2032, with a CAGR of 21.50%.

What are the key factors driving the growth of the Cold Chain Equipment Market?

The market is driven by the rising demand for temperature-sensitive products, such as perishable food items and biopharmaceuticals, as well as stringent regulations on food and drug safety.

How are technological advancements impacting the Cold Chain Equipment Market?

Technological advancements, such as IoT integration and energy-efficient refrigeration systems, are improving the efficiency and reliability of cold chain logistics, reducing product spoilage, and enhancing operational visibility.

Which regions hold the largest share in the Cold Chain Equipment Market?

North America and Europe currently dominate the market, with significant shares driven by advanced infrastructure and strict regulatory standards. However, the Asia Pacific region is expected to witness the fastest growth.

What role does sustainability play in the Cold Chain Equipment Market?

Sustainability is a growing focus, with companies adopting energy-efficient refrigeration technologies and eco-friendly packaging materials to reduce their carbon footprint and meet environmental regulations.

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