Report Overview

India Refrigerated Trucks Market – Trends & Forecast Report, 2029

India refrigerated trucks market size was estimated at USD 5.90 billion in 2022. During the forecast period between 2023 and 2029, the size of India refrigerated trucks market is projected to grow at a CAGR of 14.23% reaching a value of USD 14.00 billion by 2029. India refrigerated trucks market has witnessed significant trends in recent years. The demand for refrigerated trucks, also known as reefer trucks, has been steadily increasing due to the growth of the cold chain industry in India. The expanding organized retail sector, increasing consumer awareness of food safety and quality, and the rise in online grocery delivery services have all contributed to the surge in demand for refrigerated transportation. Also, the government's focus on reducing post-harvest losses and improving food preservation infrastructure has further boosted the market. To meet the growing demand, manufacturers are introducing advanced technologies such as temperature-controlled systems, telematics, and GPS tracking in refrigerated trucks to ensure efficient and reliable transportation of perishable goods.

India Refrigerated Trucks Market - Overview

Refrigerated trucks, also known as reefer trucks, are specialized vehicles designed to transport perishable goods, pharmaceuticals, or any other temperature-sensitive items that require a controlled environment. These trucks are equipped with integrated cooling systems that maintain a consistent and low temperature throughout the cargo compartment, typically between -18°C to 4°C (0°F to 40°F). The refrigeration system, often powered by a separate diesel engine or an electric motor, circulates cold air to prevent spoilage and maintain product freshness during transit. Refrigerated trucks play a vital role in the transportation and distribution of food, beverages, medicines, and other temperature-critical products, ensuring their quality and safety from origin to destination.

Growth Drivers

Technological Advancements

India refrigerated trucks market has witnessed significant growth, with one of the key drivers being technological advancements. The introduction of advanced refrigeration systems and temperature control solutions has revolutionized the transportation of perishable goods across the country. These technological advancements ensure the integrity and freshness of products throughout the supply chain, catering to the growing demand for safe and high-quality food and pharmaceutical products. Also, the integration of telematics and GPS tracking systems in refrigerated trucks enables real-time monitoring of temperature, humidity, and location, ensuring optimal conditions during transportation. As a result, these technological developments are expected to continue driving the growth of the India refrigerated trucks market, facilitating the efficient and reliable distribution of perishable

Restraints

Supply Chain Disruptions

The refrigerated trucks market in India faces significant challenges due to supply chain disruptions. With the COVID-19 pandemic and subsequent lockdowns, the movement of goods and perishable items has been severely impacted, leading to reduced demand for refrigerated transportation. Also, inadequate cold storage infrastructure and unreliable power supply pose obstacles to the efficient operation of refrigerated trucks. Limited access to financing options for small-scale transport operators further constrains market growth. The lack of standardized regulations and temperature monitoring systems also hinders the expansion of the refrigerated trucks market in India. Overcoming these restraints requires robust investments in cold chain infrastructure, streamlined regulations, and technology-driven solutions to ensure the safe and efficient transportation of perishable goods.

Impact of COVID-19 on the India Refrigerated Trucks Market

The COVID-19 pandemic significantly impacted the India refrigerated trucks market, causing disruptions and changes in the industry. The strict lockdown measures and restrictions imposed to control the spread of the virus resulted in a decline in demand for refrigerated transportation services. The food and pharmaceutical sectors, major consumers of refrigerated trucks, experienced disruptions in their supply chains, affecting the market. Also, the temporary closure of hotels, restaurants, and catering services further dampened the demand for refrigerated transportation. However, with the gradual easing of restrictions and the resumption of economic activities, the market is expected to recover, driven by increasing demand for safe and efficient cold chain logistics in the post-pandemic era.

India Refrigerated Trucks Market

Segmental Coverage

India Refrigerated Trucks Market – By Type

On the basis of type, India refrigerated trucks market is divided into Light Commercial Vehicle, Medium Commercial Vehicle, and Heavy Commercial Vehicle segments. The heavy commercial vehicle segment represents the largest share of the market. HCVs are typically larger and have higher load capacities compared to LCVs and MCVs, making them suitable for transporting large quantities of perishable goods over long distances. The demand for refrigerated trucks in the HCV segment is driven by factors such as the growth of organized retail, expansion of cold chain infrastructure, and increasing consumption of frozen and processed food products.

India Refrigerated Trucks Market – By Tonnage Capacity

On the basis of tonnage capacity, India refrigerated trucks market is divided into Less than 10 tons, 10-20 tons, and more than 20 tons segments. The largest segment is more than 20 tons in terms of truck capacity. This segment encompasses refrigerated trucks that have a capacity exceeding 20 tons. These trucks are typically utilized for transporting larger quantities of perishable goods and require specialized refrigeration systems to maintain the desired temperature throughout the transportation process. The demand for such high-capacity refrigerated trucks is driven by the growing need for efficient and reliable transportation of perishable goods across various industries in India.

India Refrigerated Trucks Market – By Application

On the basis of application, India refrigerated trucks market is divided into Food and Beverages, Pharmaceuticals, and Chemicals segments. The food and beverages segment is the largest contributor to the India refrigerated trucks market. India's thriving food and beverage sector, including the fast-growing processed food market, drives the demand for refrigerated trucks to transport perishable goods across the country. With a vast population and changing consumer preferences, the need for efficient cold chain logistics in the food industry is increasing rapidly. The pharmaceutical and chemical segments also contribute to the market, but the food and beverages industry holds the largest share due to the extensive scope and demand for refrigerated transportation in India's dynamic food market.

India Refrigerated Trucks Market – By Region

Geographically, India refrigerated trucks market is divided into North India, South India, East India, and West India. The South India is the largest contributor to the India refrigerated trucks market. Comprising the states of Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, and Telangana, South India covers a vast area and is home to a significant population. It is known for its rich cultural heritage, diverse languages, and distinctive cuisine. The region boasts a diverse landscape, ranging from the coastal plains of the Bay of Bengal to the Western Ghats Mountain range. South India is renowned for its architectural marvels, ancient temples, and serene backwaters. Its vibrant cities, such as Chennai, Bengaluru, and Hyderabad, are centers of commerce, technology, and education.

Competitive Landscape

Major players in the India refrigerated trucks market include Carrier Airconditioning & Refrigeration Limited, Ice Make Refrigeration Limited, JCBL Limited, KOLD SEAL, Motherson Sumi System Ltd, Subros Limited, Surin International Private Limited, Tata Motors Limited, Trane Technologies India Pvt Ltd, and TransACNR. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

By Type

• • Light Commercial Vehicle

  • Medium Commercial Vehicle

  • Heavy Commercial Vehicle

By Tonnage Capacity

• • Less than 10 tons

  • 10-20 tons

  • More than 20 tons

By Application

• • Food and Beverages

  • Pharmaceuticals

  • Chemicals

  • Others

By Region

• • North India

  • South India

  • East India

  • West India

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Refrigerated Trucks Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing Demand for Perishable Goods
         2. Growing E-commerce and Home Delivery
      2. Restraints
         1. High Cost of Refrigerated Trucks
      3. Opportunity
         1. Advancement in Technology
      4. Challenges
         1. Safety Concern
   3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Refrigerated Trucks Market Overview
   1. Market Size & Forecast, 2019-2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
         1. Light Commercial Vehicle
         2. Medium Commercial Vehicle
         3. Heavy Commercial Vehicle
      2. By Tonnage Capacity
         1. Less than 10 tons
         2. 10-20 tons
         3. More than 20 tons
      3. By Application
         1. Food and Beverages
         2. Pharmaceuticals
         3. Chemicals
         4. Others
      4. By Region
         1. North India
         2. South India
         3. East India
         4. West India
5. North India Refrigerated Trucks Market
   1. Market Size & Forecast, 2019-2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Tonnage Capacity
      3. By Application
6. South India Refrigerated Trucks Market
   1. Market Size & Forecast, 2019-2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Tonnage Capacity
      3. By Application
7. East India Refrigerated Trucks Market
   1. Market Size & Forecast, 2019-2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Tonnage Capacity
      3. By Application
8. West India Refrigerated Trucks Market
   1. Market Size & Forecast, 2019-2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Tonnage Capacity
      3. By Application
9. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. India Refrigerated Trucks Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
10. Impact of Covid-19 on India Refrigerated Trucks Market
11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Carrier Airconditioning & Refrigeration Limited
    2. Ice Make Refrigeration Limited
    3. JCBL Limited
    4. KOLD SEAL
    5. Motherson Sumi System Ltd
    6. Subros Limited
    7. Surin International Private Limited
    8. Tata Motors Limited
    9. Trane Technologies India Pvt Ltd
    10. TransACNR
    11. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       India Refrigerated Trucks  Segmentation      

Figure 2       India Refrigerated Trucks Market Value Chain Analysis     

Figure 3       Company Market Share Analysis, 2022

Figure 4       India Refrigerated Trucks Market Size, By Value (USD Million), 2019-2029    

Figure 5       India Refrigerated Trucks Market Share, By Type , By Value, 2019-2029       

Figure 6       India Refrigerated Trucks Market Share, By Tonnage Capacity, By Value, 2019-2029 

Figure 7       India Refrigerated Trucks Market Share, By Application, By Value, 2019-2029

Figure 8       North India Refrigerated Trucks Market Size, By Value (USD Million), 2019-2029         

Figure 9       North India Refrigerated Trucks Market Share, By Type , By Value, 2019-2029         

Figure 10     North India Refrigerated Trucks Market Share, By Tonnage Capacity, By Value, 2019-2029 

Figure 11     North India Refrigerated Trucks Market Share, By Application, By Value, 2019-2029 

Figure 12     South India Refrigerated Trucks Market Size, By Value (USD Million), 2019-2029         

Figure 13     South India Refrigerated Trucks Market Share, By Type , By Value, 2019-2029         

Figure 14     South India Refrigerated Trucks Market Share, By Tonnage Capacity, By Value, 2019-2029 

Figure 15     South India Refrigerated Trucks Market Share, By Application, By Value, 2019-2029 

Figure 16     East India Refrigerated Trucks Market Size, By Value (USD Million), 2019-2029         

Figure 17     East India Refrigerated Trucks Market Share, By Type , By Value, 2019-2029

Figure 18     East India Refrigerated Trucks Market Share, By Tonnage Capacity, By Value, 2019-2029 

Figure 19     East India Refrigerated Trucks Market Share, By Application, By Value, 2019-2029         

Figure 20     West India Refrigerated Trucks Market Size, By Value (USD Million), 2019-2029         

Figure 21     West India Refrigerated Trucks Market Share, By Type , By Value, 2019-2029

Figure 22     West India Refrigerated Trucks Market Share, By Tonnage Capacity, By Value, 2019-2029 

Figure 23     West India Refrigerated Trucks Market Share, By Application, By Value, 2019-2029 

List of Tables

Table 1        India Refrigerated Trucks Market Size, By Value (USD Million), 2019-2029

Table 2        India Refrigerated Trucks Market Size, By Type , By Value, 2019-2029

Table 3        India Refrigerated Trucks Market Size, By Tonnage Capacity, By Value, 2019-2029

Table 4        India Refrigerated Trucks Market Size, By Application, By Value, 2019-2029

Table 5        North India Refrigerated Trucks Market Size, By Value (USD Million), 2019-2029

Table 6        North India Refrigerated Trucks Market Size, By Type , By Value, 2019-2029

Table 7        North India Refrigerated Trucks Market Size, By Tonnage Capacity, By Value, 2019-2029

Table 8        North India Refrigerated Trucks Market Size, By Application, By Value, 2019-2029

Table 9        South India Refrigerated Trucks Market Size, By Value (USD Million), 2019-2029

Table 10      South India Refrigerated Trucks Market Size, By Type , By Value, 2019-2029

Table 11      South India Refrigerated Trucks Market Size, By Tonnage Capacity, By Value, 2019-2029

Table 12      South India Refrigerated Trucks Market Size, By Application, By Value, 2019-2029

Table 13      East India Refrigerated Trucks Market Size, By Value (USD Million), 2019-2029

Table 14      East India Refrigerated Trucks Market Size, By Type , By Value, 2019-2029

Table 15      East India Refrigerated Trucks Market Size, By Tonnage Capacity, By Value, 2019-2029

Table 16      East India Refrigerated Trucks Market Size, By Application, By Value, 2019-2029

Table 17      West India Refrigerated Trucks Market Size, By Value (USD Million), 2019-2029

Table 18      West India Refrigerated Trucks Market Size, By Type , By Value, 2019-2029

Table 19      West India Refrigerated Trucks Market Size, By Tonnage Capacity, By Value, 2019-2029

Table 20      West India Refrigerated Trucks Market Size, By Application, By Value, 2019-2029

Table 21      Carrier Airconditioning & Refrigeration Limited Company Overview

Table 22      Carrier Airconditioning & Refrigeration Limited Financial Overview

Table 23      Ice Make Refrigeration Limited Company Overview

Table 24      Ice Make Refrigeration Limited Financial Overview

Table 25      JCBL Limited Company Overview

Table 26      JCBL Limited Financial Overview

Table 27      KOLD SEAL Company Overview

Table 28      KOLD SEAL Financial Overview

Table 29      Motherson Sumi System Ltd Company Overview

Table 30      Motherson Sumi System Ltd Financial Overview

Table 31      Subros Limited Company Overview

Table 32      Subros Limited Financial Overview

Table 33      Surin International Private Limited Company Overview

Table 34      Surin International Private Limited Financial Overview

Table 35      Tata Motors Limited Company Overview

Table 36      Tata Motors Limited Financial Overview

Table 37      Trane Technologies India Pvt Ltd  Company Overview

Table 38      Trane Technologies India Pvt Ltd  Financial Overview

Table 39      TransACNR Company Overview

Table 40      TransACNR Financial Overview