Refrigerated Truck Rental Market Trends

Expanding e-commerce sector is driving the market growth

Market CAGR Smartphone popularity, coupled with a growing preference for online shopping and door-to-door delivery, has altered how consumers purchase food for their daily requirements. Mobile app-based ordering has increased the demand for fresh food products, particularly among restaurants that require a constant supply of frozen food products. As a result, there is a greater need for frequent logistics services to keep up with inventory levels. As a result, the expansion of the retail e-commerce industry is anticipated to increase the demand for rental refrigerated trucks. The growth of the refrigerated chain industry is crucial to economic expansion.

Cold chain logistics prevents the deterioration of perishable goods during transport and is an essential component of the food and beverage industry.

Governments are progressively implementing the public infrastructure and laws required to develop refrigerated chains. Concurrently, service providers are training their employees and assisting them in enhancing their technical expertise in the operation, administration, and maintenance of specialized facilities required for the transportation and hauling of food. Opportunities for market expansion can be found primarily in the growing demand for refrigerated pharmaceutical and food and beverage transport. In addition, the refrigerated freight industry is anticipated to flourish in tandem with the continued expansion of products transported by road.

In addition, the rapid development of the retail e-commerce industry, the resulting increase in the demand for advanced and efficient logistics, and the tightening of regulations on vehicle emissions have contributed to the expansion of reefer trucks in Europe. Refrigerated truck transport is a "derived demand" industry in which the demand for refrigerated truck drivers is directly proportional to the demand for the goods these vehicles are designed to transport. Moreover, reefer truck rental can be a cost-effective option for businesses that handle reefer cargo, as it eliminates the costs of maintaining a fleet of reefer vehicles.

Additionally, refrigerated vehicle rental services are ideal for ensuring the proper storage and transport of temperature-sensitive goods and preventing the spoilage of perishable goods. Smartphone proliferation, coupled with a growing preference for online shopping and home delivery, has altered how consumers shop for the daily food products they need. Mobile app-based ordering has increased demand for fresh food products, particularly among Quick Service Restaurants (QSRs) that require a steady supply of frozen food products. Consequently, it has also increased the demand for frequent logistic services to keep up with the inventory, which is expected to increase the demand further.

Additionally, operators of refrigerated truck fleets are incorporating sophisticated technologies, such as spiral compressors, to improve the efficiency of the refrigerant. Several reefer truck rental service providers are investing heavily in installing sensors and deploying IT infrastructure that can provide a minute-by-minute report on the vehicle's temperature while it is in transit. This is driving the Refrigerated Truck Rental market revenue.

The Global Refrigerated Truck Rental Market Industry is poised for substantial growth, with projections indicating a market size of 196.5 USD Billion by 2035. This anticipated growth is underpinned by various factors, including rising demand for perishable goods, advancements in refrigeration technology, and the expansion of e-commerce. The market is expected to experience a CAGR of 9.52% from 2025 to 2035, reflecting a robust and dynamic landscape. These projections suggest that the refrigerated truck rental sector will continue to evolve, adapting to changing consumer needs and technological advancements.

The Global Refrigerated Truck Rental Market Industry experiences a notable surge in demand driven by the increasing consumption of perishable goods. As consumers become more health-conscious, the need for fresh produce, dairy, and meat products rises. This trend is particularly evident in urban areas where access to fresh food is limited. The market is projected to reach 72.3 USD Billion in 2024, reflecting a robust growth trajectory. The rental of refrigerated trucks allows businesses to efficiently transport these goods, ensuring quality and safety. Consequently, this growing demand for perishable items significantly propels the refrigerated truck rental sector.

Technological advancements in refrigeration systems play a crucial role in the Global Refrigerated Truck Rental Market Industry. Innovations such as energy-efficient cooling systems and temperature monitoring technologies enhance the reliability and efficiency of refrigerated trucks. These advancements not only reduce operational costs but also improve the overall performance of the vehicles. As companies increasingly prioritize sustainability, the adoption of eco-friendly refrigeration technologies is likely to rise. This trend could lead to a more competitive market landscape, as businesses seek to differentiate themselves through superior service offerings and reduced environmental impact.

Urbanization and evolving consumer preferences are significant factors shaping the Global Refrigerated Truck Rental Market Industry. As urban populations grow, the demand for fresh and high-quality food products increases. Consumers are becoming more discerning, seeking out fresh produce and specialty items that require temperature-controlled transport. This shift in consumer behavior is prompting businesses to invest in refrigerated logistics solutions to meet these expectations. The market's growth is further supported by the increasing number of urban grocery stores and restaurants that rely on refrigerated truck rentals to maintain product quality and customer satisfaction.

Stringent regulatory compliance and food safety standards are pivotal drivers in the Global Refrigerated Truck Rental Market Industry. Governments worldwide enforce regulations to ensure the safe transportation of perishable goods, necessitating the use of refrigerated vehicles. Companies that fail to comply with these standards risk facing penalties and damage to their reputation. As a result, businesses are increasingly turning to refrigerated truck rentals to meet these compliance requirements. This trend not only enhances food safety but also fosters consumer trust, thereby driving demand for refrigerated transport solutions across various sectors.

The rapid expansion of e-commerce and online grocery delivery services significantly influences the Global Refrigerated Truck Rental Market Industry. With consumers increasingly opting for home delivery of groceries, the demand for refrigerated transport solutions is expected to grow. This trend is particularly pronounced in metropolitan areas where convenience is paramount. The market is projected to expand at a CAGR of 9.52% from 2025 to 2035, indicating a sustained growth trajectory. Companies that provide refrigerated truck rentals are well-positioned to capitalize on this trend, as they can offer tailored solutions to meet the specific needs of e-commerce businesses.

Leading market players are expected to invest at a rapid pace during the forecast period to stay ahead of the competition. The market leaders are employing various market developments such as new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. Additionally, the market leaders in the Refrigerated Truck Rental industry are further upgrading their equipment and services to attract a larger consumer base.

Market leaders in the global Refrigerated Truck Rental industry are looking to expand their manufacturing plants locally and regionally to reduce costs. Also, market leaders in the global Refrigerated Truck Rental industry offer various products within their portfolio to accommodate various applications. Major players in the Refrigerated Truck Rental market include Ryder System, Inc., Fraikin Limited, Penske Corporation, Inc., Petit Forestier, and The Hertz Corporation, among others.

Petit Forestier's refrigeration expertise is unparalleled as a French family business founded in 1907. The company's rental fleet consists of 70,000 refrigerated vehicles, 49,000 display chillers and freezers, and 5,000 refrigerated containers. It is supported by a vast branch network that spans 22 nations across Europe, Africa, the Middle East, and the United States. Petit Forestier relies on this coverage to provide service to over 15,000 consumers, constantly emphasizing quality and superior service. Petit Forestier concentrates on industries requiring refrigeration due to cold chain regulations.

Our multi-product offering (refrigerated vehicles, display fridges, and refrigerated containers) satisfies your logistics requirements for temperature-controlled storage and transportation, from product manufacture to final consumer or field to plate.

Hertz Corporation is an American vehicle rental business headquartered in Estero, Florida. The company administers the Hertz brand in addition to Dollar Rent-A-Car, Firefly Car Rental, and Thrifty. It is one of the three largest car rental holding corporations in the United States, with a 36 percent market share, placing it ahead of Enterprise Holdings and Avis Budget Group. Hertz operates in 160 countries in North America, Europe, Latin America, Africa, Asia, Australia, the Caribbean, the Middle East, and New Zealand, making it one of the world's largest vehicle rental companies by sales, locations, and fleet capacity.

Hertz ranked 326th on the Fortune 500 list for 2020. The company filed for bankruptcy on May 22, 2020, citing the COVID-19 pandemic as the reason for a sharp decline in revenue and future bookings. On December 31, 2021, the company had $7.3 billion in revenue, $19.7 billion in assets, and 23,000 employees.