Cold Chain Equipment Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Cold Chain Equipment Market
The cold chain equipment market size was valued at USD 26.30 billion in 2022, and the market is now projected to grow from USD 30.36 billion in 2023 to USD 83.34 billion by 2030, exhibiting a CAGR of 15.5% during the forecast period of 2023-2030.
COVID-19 fostered the demand for refrigeration solutions as there is a requirement for vaccine storage and pharmaceutical logistic chains. There were heightened investments in modern cold chain systems such as real-time tracking and IoT. Disruptions highlighted the importance of cold storage for perishable products, boosting the cold chain equipment market growth. The pandemic boosted innovation and emphasised the importance of an effective cold chain network. This effect has left an indelible streak in the industry about technological innovation.
The continuous development of the pharmaceutical industry creates demand for cold chain equipment market share and solutions for temperature-sensitive drug storage. The increase in products and vaccines prepared from biopharmaceuticals requires temperature management. The lockdown parameters were further exposed during the COVID-19 outbreak forcing the need for specialized cold storage. This means that for the vaccines to reach their intended destination there must be efficiency between the governments and manufacturers. This trend also reveals that cold chain equipment may need more advanced structures.
Besides, the cold chain business is realigning its operations to embrace environmentalism and energy conservation as concerns over the natural environment emerge. The major emphasis lies in the efforts to decrease carbon footprints by utilising natural refrigerants with minimal global warming potential. A growing trend is using energy-efficient technologies, such as improved insulation and energy recovery systems. Conventional power sources such as solar and wind are also being practised. This trend fits in with sustainability and will probably to be the direction that is taken in the future.
Comprehensive Analysis of Cold Chain Equipment Market
This market segmentation has made the cold chain equipment market and the machinery & equipment industry grow at an exponential rate. This market expansion helps offer a comprehensive regional analysis that takes into account the supply and demand dynamics that shape the machinery and equipment market. Types and industrial verticals methodically segregate these segmentations. The type includes, Refrigerated Storage and Transportation. The industrial vertical includes, Pharmaceuticals, Food and Beverage, Chemicals, Others.
North America emerged as the pioneer in the cold chain market due to its robust pharmaceuticals and food sector in 2022. A stringent regulatory environment and a focus on preserving temperature-sensitive products bolstered the region's cold chain infrastructure. The U.S. significantly contributed to this dominance, supported by a robust pharmaceutical sector and food distribution network. Investments in advanced technologies, together with IoT-enabled monitoring and sustainable refrigeration, underscore its dedication to product integrity. The emphasis on vaccine distribution and regulatory compliance highlighted the crucial position of cold chain gadgets inside the U.S.
The leading players in the machinery and equipment industry bear large responsibilities regarding guaranteeing industrial prospects and defining market norms. These players include Americold Logistics, Inc. (U.S.), BITZER SE (Germany), CAREL (Italy), ebm-papst (Germany), Carrier Transicold (U.S.), Intertecnica (Italy), Schmitz Cargobull (Germany), Viessmann (Germany), Thermo King (U.S.), and Zanotti SpA (Italy). These market players provide a level-playing competitive landscape.
In December 2022, A.P. Moller Maersk officially opened a new facility in Norway, tailored to address the unique needs of the country's vast fish industry. This advanced facility enhances supply chain connectivity, providing significant advantages for clients transporting frozen and chilled products.
Segmentation Table
Global Cold Chain Equipment Market Scope
Study Period 2017-2030
Base Year 2022
Forecast Period 2023-2030
Growth Rate CAGR of 15.5% from 2023 to 2030
Historical Period 2017-2021
Unit Value (USD Billion)
Segmentation By Type, Industry Vertical, and Region
By Type Refrigerated Storage
Transportation
By Industry Vertical Pharmaceuticals
Food and Beverage
Chemicals
Others
By Region North America (By Type, Industry Vertical, and Country)
U.S. (By Industry Vertical)
Canada (By Industry Vertical)
Mexico (By Industry Vertical)
South America (By Type, Industry Vertical, and Country)
Brazil (By Industry Vertical)
Argentina (By Industry Vertical)
Rest of South America
Europe (By Type, Industry Vertical, and Country)
U.K. (By Industry Vertical)
Germany (By Industry Vertical)
France (By Industry Vertical)
Spain (By Industry Vertical)
Rest of Europe
Asia Pacific (By Type, Industry Vertical, and Country)
China (By Industry Vertical)
India (By Industry Vertical)
Japan (By Industry Vertical)
Rest of Asia Pacific
Middle East & Africa (By Type, Industry Vertical, and Country)
South Africa (By Industry Vertical)
GCC (By Industry Vertical)
Rest of the Middle East & Africa
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of COVID-19
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Cold Chain Equipment Key Players Market Share/Ranking, 2022
- 5. Global Cold Chain Equipment Market Size Estimates and Forecasts, By Segments, 2017-2030
- 5.1. Key Findings
- 5.2. By Type (USD)
- 5.2.1. Refrigerated Storage
- 5.2.2. Transportation
- 5.3. By Industry Vertical (USD)
- 5.3.1. Pharmaceuticals
- 5.3.2. Food and Beverage
- 5.3.3. Chemicals
- 5.3.4. Other
- 5.4. By Region (USD)
- 5.4.1. North America
- 5.4.2. South America
- 5.4.3. Europe
- 5.4.4. Middle East & Africa
- 5.4.5. Asia Pacific
- 6. North America Cold Chain Equipment Market Size Estimates and Forecasts, By Segments, 2017-2030
- 6.1. Key Findings
- 6.2. By Type (USD)
- 6.2.1. Refrigerated Storage
- 6.2.2. Transportation
- 6.3. By Industry Vertical (USD)
- 6.3.1. Pharmaceuticals
- 6.3.2. Food and Beverage
- 6.3.3. Chemicals
- 6.3.4. Other
- 6.4. By Country (USD)
- 6.4.1. United States
- 6.4.1.1. By Industry Vertical (USD)
- 6.4.2. Canada
- 6.4.2.1. By Industry Vertical (USD)
- 6.4.3. Mexico
- 6.4.3.1. By Industry Vertical (USD)
- 7. South America Cold Chain Equipment Market Size Estimates and Forecasts, By Segments, 2017-2030
- 7.1. Key Findings
- 7.2. By Type (USD)
- 7.2.1. Refrigerated Storage
- 7.2.2. Transportation
- 7.3. By Industry Vertical (USD)
- 7.3.1. Pharmaceuticals
- 7.3.2. Food and Beverage
- 7.3.3. Chemicals
- 7.3.4. Other
- 7.4. By Country (USD)
- 7.4.1. Brazil
- 7.4.1.1. By Industry Vertical (USD)
- 7.4.2. Argentina
- 7.4.2.1. By Industry Vertical (USD)
- 7.4.3. Rest of South America
- 8. Europe Cold Chain Equipment Market Size Estimates and Forecasts, By Segments, 2017-2030
- 8.1. Key Findings
- 8.2. By Type (USD)
- 8.2.1. Refrigerated Storage
- 8.2.2. Transportation
- 8.3. By Industry Vertical (USD)
- 8.3.1. Pharmaceuticals
- 8.3.2. Food and Beverage
- 8.3.3. Chemicals
- 8.3.4. Other
- 8.4. By Country (USD)
- 8.4.1. United Kingdom
- 8.4.1.1. By Industry Vertical (USD)
- 8.4.2. Germany
- 8.4.2.1. By Industry Vertical (USD)
- 8.4.3. France
- 8.4.3.1. By Industry Vertical (USD)
- 8.4.4. Spain
- 8.4.4.1. By Industry Vertical (USD)
- 8.4.5. Rest of Europe
- 9. Asia Pacific Cold Chain Equipment Market Size Estimates and Forecasts, By Segments, 2017-2030
- 9.1. Key Findings
- 9.2. By Type (USD)
- 9.2.1. Refrigerated Storage
- 9.2.2. Transportation
- 9.3. By Industry Vertical (USD)
- 9.3.1. Pharmaceuticals
- 9.3.2. Food and Beverage
- 9.3.3. Chemicals
- 9.3.4. Other
- 9.4. By Country (USD)
- 9.4.1. China
- 9.4.1.1. By Industry Vertical (USD)
- 9.4.2. India
- 9.4.2.1. By Industry Vertical (USD)
- 9.4.3. Japan
- 9.4.3.1. By Industry Vertical (USD)
- 9.4.4. Rest of Asia Pacific
- 10. Middle East & Africa Cold Chain Equipment Market Size Estimates and Forecasts, By Segments, 2017-2030
- 10.1. Key Findings
- 10.2. By Type (USD)
- 10.2.1. Refrigerated Storage
- 10.2.2. Transportation
- 10.3. By Industry Vertical (USD)
- 10.3.1. Pharmaceuticals
- 10.3.2. Food and Beverage
- 10.3.3. Chemicals
- 10.3.4. Other
- 10.4. By Country (USD)
- 10.4.1. South Africa
- 10.4.1.1. By Industry Vertical (USD)
- 10.4.2. GCC
- 10.4.2.1. By Industry Vertical (USD)
- 10.4.3. Rest of MEA
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Americold Logistics, Inc.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. BITZER SE
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. CAREL
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. ebm-papst
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Carrier Transicold
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Intertecnica
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Schmitz Cargobull
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Viessmann
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Thermo King
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Zanotti SpA
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
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