Cold Chain Equipment Market by Type (Storage, Transportation, Associated, Temperature Monitoring Devices), Industry (Pharmaceuticals & Biotechnology, Food Processing, Bakery & Confectionery, Brewery & Winery), and Geography - Global Forecast to 2030

The Cold Chain Equipment Market is projected to reach $410 billion by 2030, at a CAGR of 11.8% during the forecast period 2024–2030. The growth of this market is driven by the growing need to transport & store temperature-sensitive products, the globalization of food supply chains, and the expansion of the pharmaceutical industry. Additionally, the technological advancements in cold chains are expected to create market growth opportunities.

However, high energy consumption restrain the growth of this market. Regulatory standards & compliance for cold chains are major challenges for the players operating in this market. Sustainable cold chain solutions are prominent trends in the cold chain equipment market.

Growing Need to Transport and Store Temperature Sensitive Products is Expected to Drive Market Growth

Transporting and storing temperature-sensitive products significantly impacts various industries, including pharmaceuticals and biotechnology, food processing, breweries, and wineries, to ensure product quality, safety, and efficacy. Temperature control is essential during storage and transportation in healthcare, encompassing biopharmaceuticals, personalized medicine, gene therapies, vaccines, and biologics. Also, the recent COVID-19 pandemic has underscored the importance of cold chain equipment for the rapid and safe distribution of vaccines and medical supplies throughout the globe. The food processing sector, which spans fresh produce, dairy, ready-to-eat meals, ice cream, and seafood, requires cold storage and refrigerated transportation to prevent spoilage and sustain product freshness.

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In the brewery & winery industry, temperature-controlled storage is required to preserve the distinctive flavor profiles of their beverages. Likewise, the chemicals & processing industry, concerning solvents and lubricants, relies on temperature-controlled storage to safeguard stability and prevent degradation. For all such industries, temperature-sensitive products must be stored and transported within specific temperature ranges to safeguard their integrity and excellence. Without proper temperature control, these products may lose efficacy, spoil, or even become unsafe for consumption. Thus, players in the market focus on using cold chain equipment to reduce financial losses associated with safety, quality, and compliance with regulatory requirements for temperature-sensitive material. Several companies focus on strategic developments to market demands driven by maintaining product integrity and efficacy throughout the supply chain for these sensitive goods. For instance, in April 2021, B Medical Systems (Luxembourg) partnered with Cold Chain Technologies (U.S.) to bring end-to-end thermal shipping and medical storage solutions to the life sciences market. Such developments are further driving the rapid growth of the cold chain equipment market in the coming years.

Key Findings in the Cold Chain Equipment Market Study:

In 2024, the Storage Equipment Segment is Expected to Dominate the Cold Chain Equipment Market

Based on type, the global cold chain equipment market is broadly segmented into storage equipment, transportation equipment, associated equipment, and temperature monitoring devices. The storage segment is further segmented into the electrical, solar refrigerator, and non-electrical. In 2024, the storage equipment segment is expected to account for the largest share of the global cold chain equipment market. The large market share of this segment is attributed to the growing need to preserve the quality and safety of temperature-sensitive products, including vaccines, biologics, and chemicals over extended periods, and increasing demand for cold storage facilities to meet the needs of consumers' fresh produce, dairy products, and frozen goods.

However, the transportation equipment segment is projected to register the highest CAGR during the forecast period due to the growing need to transport temperature-sensitive products from distribution centers to consumers or end-users in a safe and usable condition, increasing demand for refrigerated trucks and containers cold storage for safe and reliable transportation of temperature-sensitive product for various industries including pharmaceuticals & biotechnology, chemicals & processing, and food processing.

In 2024, the Food Processing Segment is Expected to Dominate the Cold Chain Equipment Market

Based on industry, the global cold chain equipment market is broadly segmented into pharmaceuticals & biotechnology, chemicals & processing, food processing, bakery & confectionery, brewery & winery, and other industries. The food processing segment is further segmented into fruits & vegetables, poultry & meat, fisheries, retail food, and dairy. In 2024, the food processing segment is expected to account for the largest share of the global cold chain equipment market. The large market share of this segment is attributed to the growing need to maintain proper temperatures throughout processing, storage, and distribution for poultry and meat processing, increasing use of temperature-controlled storage and transport to help extend freshness in fruits and vegetables, and the increasing need for cold chain equipment to preserve the quality, safety, and shelf life of perishable food products including milk, fish, meat, cheese, and yogurt. The segment is also projected to register the highest CAGR during the forecast period.

Asia-Pacific to be the Fastest Growing Regional Market

Based on geography, the global cold chain equipment market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific cold chain equipment market is projected to register the highest CAGR during the forecast period due to the growing need for extensive cold chain infrastructure to maintain product quality, growth of e-commerce and online grocery delivery services, expansion of international trade, and increasing need for informed decisions and quality control in the cold chain. Also, growing consumer awareness of food safety and quality standards and the increasing need for sustainable and eco-friendly cold chain solutions, stringent standards for product safety and quality are supporting the growth of the Asia-Pacific cold chain equipment market in the coming years.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by the leading market participants in the cold chain equipment market in the last three to four years. The key players profiled in the cold chain equipment market report are Thermo King (U.S.), Carrier Global Corporation (U.S.), Schmitz Cargobull AG (Germany), Mettcover Global INC (U.S.), Karr Cold Storage (U.S.), B Medical Systems S.à r.l (Luxembourg), ZANOTTI S.p.A. (Italy), IndoSurgicals Private Limited (India), GWS Surgicals LLP (India), Americold Logistics, Inc. (U.S.), Emergent Cold LatAm Management LLC (U.S.), Narang Medical Limited (India), PANNA GROUP OF COMPANIES (India), Rinac India Limited (India), Samco Medical (India), Thermal Energy Service Solutions Pvt Ltd (India), Zanotti S.p.A. (Italy), Cold Chain Technologies (U.S.), and Kelvion Holding GmbH (Germany).

Scope of the report:

Cold Chain Equipment Market Assessment, by Type

• Storage Equipment 
  • Electrical
    • Walk-in Cooler (WIC)
    • Walk-in Freezer (WIF)
    • Ice-lined Refrigerator (ILR)
    • Deep Freezer (DF)
  • Solar Refrigerator
  • Non- electrical
    • Cold Box
    • Vaccine Carrier
    • Ice Pack
    • Other Non- electricals
• Transportation Equipment
  • Refrigerated Van
  • Insulated Van
  • Cold Box
  • Vaccine Carrier
  • Ice-Packs
• Associated Equipment
  • Stabilizer
  • Generator
  • Inverter
• Temperature Monitoring Devices
  • Thermostats
  • Electronic Data Logger
  • Freeze Indicator
  • Realtime Temp Monitoring Device

Cold Chain Equipment Market Assessment, by Industry

• Pharmaceuticals & Biotechnology
• Food Processing
  • Fruits & Vegetables
  • Poultry & Meat
  • Fisheries
  • Retail Food
  • Dairy
• Chemicals & Processing
• Bakery & Confectionery
• Brewery & Winery
• Other Industries

Cold Chain Equipment Market Assessment, by Geography

• North America
  •  U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Rest of Asia-Pacific (RoAPAC)

Key questions answered in the report: