Cold chain equipment market is anticipated to grow at a CAGR of 18.5% during the forecast period (2024-2031). The cold chain equipment includes refrigerators, vaccine carriers, insulated vans, stabilizers, and real-time temperature monitoring devices among others. The market’s growth is driven by the increasing adoption of cold chain infrastructure, and growing demand from the pharmaceutical and food and beverage industries. The growing industrialization, changes in consumer preferences, and government support are the major promoters of the global market. Further, the market is expected to be positively influenced by technological advancements such as IoT-enabled sensors, RFID tracking, and real-time monitoring.
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The growth in the cold chain equipment market is instigated by the rising adoption of cold chain infrastructure, especially in the pharmaceutical, agriculture, and food and beverage industries, to sustain food, vaccines, and crops for a longer duration while reducing preservatives and processing. Further, growing international trade and logistics have stimulated the adoption of cold chain infrastructure such as multi-modal transportation and cross-border cold storage to facilitate the smooth exchange of goods by complying with regulatory standards. For instance, India’s Integrated Cold Chain and Value Addition Infrastructure scheme promotes integrated and complete cold chain facilities without any break from the farm gate to the consumer, to reduce losses by improving efficiency in farmers’ produce, storage, transportation, and minimal processing. Both horticultural and non-horticultural produce are eligible for support under this scheme. Under this scheme, as of December 2022, a cold storage capacity of 8.38 lakh MT has been created.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Cold Chain Equipment Market Report Segment
By Type
- Refrigerated Storage
- Transportation
By Industry Vertical
- Pharmaceuticals
- Food and Beverage
- Chemicals
- Others (Brewery, Healthcare)
Global Cold Chain Equipment Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- The Middle East and Africa
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global cold chain equipment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
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