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US Refrigerated Truck Rental Market

ID: MRFR/PCM/16909-HCR
111 Pages
Snehal Singh
October 2025

US Refrigerated Truck Rental Market Research Report: By Truck (Light, Medium, Heavy), By Rental Term (Short-term, Long-term) and  By Downstream Field (Food, Beverages, Retail, Others)  - Forecast to 2035.

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US Refrigerated Truck Rental Market Summary

As per MRFR analysis, the US refrigerated truck-rental market size was estimated at 18.0 USD Billion in 2024. The US refrigerated truck-rental market is projected to grow from 19.75 USD Billion in 2025 to 50.0 USD Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 9.73% during the forecast period 2025 - 2035.

Key Market Trends & Highlights

The US refrigerated truck-rental market is experiencing robust growth driven by evolving consumer demands and technological advancements.

  • The demand for fresh produce is driving an increase in refrigerated truck rentals across the US.
  • Technological advancements in refrigeration are enhancing the efficiency and reliability of rental fleets.
  • Sustainability initiatives are becoming a focal point for companies seeking to reduce their carbon footprint in logistics.
  • Rising e-commerce activities and the expansion of food distribution networks are key drivers propelling market growth.

Market Size & Forecast

2024 Market Size 18.0 (USD Billion)
2035 Market Size 50.0 (USD Billion)

Major Players

Thermo King (US), Carrier Transicold (US), Utility Trailer Manufacturing Company (US), Great Dane Trailers (US), Wabash National Corporation (US), Penske Truck Leasing (US), Ryder System Inc (US), XPO Logistics (US)

US Refrigerated Truck Rental Market Trends

The refrigerated truck-rental market is currently experiencing notable growth, driven by increasing demand for temperature-sensitive goods across various sectors. This trend is particularly evident in the food and pharmaceutical industries, where maintaining specific temperature ranges is crucial for product integrity. As businesses expand their operations and seek efficient logistics solutions, the need for reliable refrigerated transport options becomes paramount. Furthermore, advancements in technology, such as improved insulation and monitoring systems, enhance the efficiency and reliability of these vehicles, making them more appealing to potential renters. In addition, the rise of e-commerce has transformed consumer expectations regarding delivery speed and quality. Companies are increasingly turning to refrigerated truck rentals to meet these demands, ensuring that perishable items reach customers in optimal condition. This shift not only reflects changing consumer behavior but also highlights the importance of flexibility in logistics. As the market evolves, it appears that the refrigerated truck-rental sector will continue to adapt, offering innovative solutions to meet the diverse needs of its clientele. Overall, the current landscape suggests a robust future for this market, characterized by ongoing investment and development.

Increased Demand for Fresh Produce

The growing consumer preference for fresh and organic produce is driving the need for refrigerated transport solutions. As retailers and distributors strive to meet this demand, the refrigerated truck-rental market is likely to see a surge in activity, particularly during peak seasons.

Technological Advancements in Refrigeration

Innovations in refrigeration technology are enhancing the efficiency and reliability of rental trucks. Features such as real-time temperature monitoring and energy-efficient systems are becoming standard, making these vehicles more attractive to businesses seeking to optimize their logistics.

Sustainability Initiatives

There is a noticeable shift towards environmentally friendly practices within the refrigerated truck-rental market. Companies are increasingly adopting sustainable solutions, such as electric refrigerated trucks, to reduce their carbon footprint and appeal to eco-conscious consumers.

US Refrigerated Truck Rental Market Drivers

Rising E-commerce Activities

The surge in e-commerce activities in the US has led to an increased demand for efficient logistics solutions, particularly in the refrigerated truck-rental market. As consumers increasingly prefer online shopping for perishable goods, businesses are compelled to ensure timely and safe delivery. This trend is reflected in the growth of the e-commerce food sector, which is projected to reach $100 billion by 2025. Consequently, companies are seeking refrigerated truck rentals to maintain the integrity of their products during transit. the refrigerated truck-rental market is experiencing heightened demand as businesses adapt to the evolving landscape of consumer preferences, necessitating reliable transportation solutions for temperature-sensitive items.

Seasonal Demand Fluctuations

Seasonal demand fluctuations in the food industry significantly impact the refrigerated truck-rental market. During peak seasons, such as holidays and summer months, the demand for fresh produce and other perishable items tends to rise sharply. This seasonal surge compels businesses to seek additional refrigerated transport solutions to meet consumer needs. For instance, the demand for fresh fruits and vegetables typically peaks during the summer, leading to increased rentals of refrigerated trucks. The refrigerated truck-rental market is thus characterized by its ability to adapt to these seasonal variations, providing flexible solutions for businesses that require temporary transportation capacity.

Expansion of Food Distribution Networks

The expansion of food distribution networks across the US is a critical driver for the refrigerated truck-rental market. As food producers and distributors seek to reach a broader customer base, the need for efficient transportation of perishable goods becomes paramount. The US food distribution industry is expected to grow at a CAGR of 5% through 2026, indicating a robust demand for refrigerated transport solutions. This growth compels businesses to utilize refrigerated truck rentals to ensure compliance with safety regulations and maintain product quality. The refrigerated truck-rental market is thus positioned to benefit from this expansion, as companies increasingly rely on rental services to meet their logistical needs.

Growth of the Cold Chain Logistics Sector

The growth of the cold chain logistics sector in the US is a pivotal driver for the refrigerated truck-rental market. As the demand for temperature-sensitive products continues to rise, the need for efficient cold chain solutions becomes increasingly critical. The cold chain logistics market is projected to grow at a CAGR of 10% through 2027, indicating a robust expansion in this sector. This growth is likely to result in heightened demand for refrigerated truck rentals, as businesses seek to optimize their supply chains and ensure the safe transport of perishable goods. The refrigerated truck-rental market is thus poised to benefit from the overall expansion of cold chain logistics.

Regulatory Compliance and Food Safety Standards

Stringent regulatory compliance and food safety standards in the US are driving the refrigerated truck-rental market. The Food and Drug Administration (FDA) mandates specific temperature controls for transporting perishable goods, which necessitates the use of specialized vehicles. As businesses strive to adhere to these regulations, the demand for refrigerated truck rentals is likely to increase. Companies that fail to comply with these standards risk facing significant penalties, which further incentivizes the use of rental services that offer reliable temperature-controlled transport. the refrigerated truck-rental market is becoming an essential component of the supply chain for businesses dealing with perishable products.

Market Segment Insights

By Truck: Medium (Largest) vs. Heavy (Fastest-Growing)

In the US refrigerated truck-rental market, Medium trucks hold the largest market share among the truck segment, benefiting from their versatility and efficiency in urban and suburban deliveries. Light trucks follow closely behind, offering smaller capacities ideal for local transport needs. Heavy trucks, while currently smaller in market share, have been observing increasing demand due to the rising logistics needs of large retailers and food distributors. The growth trends in the refrigerated truck-rental segment signal a shift towards Heavy trucks, which are becoming the fastest-growing choice among businesses seeking to enhance their supply chain operations. Factors contributing to this growth include an increase in online grocery shopping and the demand for timely deliveries. Moreover, improvements in fuel efficiency and refrigerated technologies continue to attract more companies to invest in Heavy trucks, bolstering their market position.

Medium (Dominant) vs. Heavy (Emerging)

Medium trucks are characterized by their balance of capacity and maneuverability, making them the dominant choice in the US refrigerated truck-rental market. They cater primarily to customers needing reliable solutions for both short and long-haul deliveries, providing adequate space for a variety of goods while maintaining fuel efficiency. Conversely, Heavy trucks are emerging as a notable player, driven by the demand from larger-scale operations. These trucks are designed for high-capacity loads and extensive delivery requirements, appealing to companies that prioritize volume and reliability, particularly in a market increasingly focused on e-commerce and fast delivery services. As the market evolves, both segments will play critical roles in shaping the landscape of refrigerated transport.

By Rental Term: Short-Term (Largest) vs. Long-Term (Fastest-Growing)

The rental term segment of the refrigerated truck-rental market shows a notable division between short-term and long-term rentals. Currently, short-term rentals constitute a significant portion of the overall market share, appealing to businesses with immediate or fluctuating needs for refrigerated transportation. This segment capitalizes on the flexibility and convenience that short-term rentals offer, making it the largest contributor to market activity. On the other hand, the long-term rental segment is emerging rapidly, driven by the increasing demand for consistent and reliable refrigerated transport solutions among businesses. Factors contributing to this growth include rising logistics costs and the need for efficient cold supply chains, which have led to more companies opting for long-term rental agreements to ensure their transportation needs are met continuously without interruption.

Rental Duration: Short-Term (Dominant) vs. Long-Term (Emerging)

Short-term rentals are characterized by their flexibility and immediate availability, catering primarily to businesses that require temporary solutions such as seasonal peaks or one-off deliveries. This segment is particularly dominant among small to medium-sized enterprises that may not have the capital to invest in a fleet. In contrast, long-term rentals are gaining traction as more businesses recognize the benefits of prolonged leasing agreements. These agreements allow for better resource management and consistent delivery services, making long-term options attractive to companies looking to enhance their logistical capabilities while minimizing upfront expenditures.

By Downstream Field: Food and Beverages (Largest) vs. Retail (Fastest-Growing)

In the US refrigerated truck-rental market, the distribution of market share among the downstream fields reveals that the Food and Beverages segment occupies the largest share, primarily driven by the ongoing demand for fresh produce, dairy products, and perishable foods. Meanwhile, the Retail segment, while smaller in share, is gaining traction due to the rapid increase in online shopping and the necessity for efficient distribution of temperature-sensitive products. The growth trends within this market are significantly influenced by changing consumer preferences and an increasing emphasis on food safety and quality. The Food and Beverages segment is expected to maintain its dominance, while the Retail sector is on the rise as e-commerce continues to flourish. Factors such as advancements in logistics technology and heightened awareness of cold chain solutions are also driving both segments forward.

Food and Beverages (Dominant) vs. Retail (Emerging)

The Food and Beverages segment remains the dominant force in the refrigerated truck-rental market, characterized by its robust infrastructure and established demand for transporting perishable goods. This segment benefits from consistent routines involving supply chains catering to restaurants, grocery stores, and direct consumers. In contrast, the Retail segment is emerging, fueled by the boom of online shopping platforms that require specialized refrigerated transport to ensure product integrity during delivery. This shift is marked by increased collaboration between retail businesses and rental services to meet the rising expectations of consumers regarding delivery speed and quality.

Get more detailed insights about US Refrigerated Truck Rental Market

Key Players and Competitive Insights

The refrigerated truck-rental market is characterized by a competitive landscape that is increasingly shaped by innovation, sustainability, and digital transformation. Key players such as Thermo King (US), Carrier Transicold (US), and Ryder System Inc (US) are actively pursuing strategies that enhance their operational efficiency and market reach. For instance, Thermo King (US) has focused on integrating advanced telematics into their fleet, which not only optimizes temperature control but also improves fuel efficiency. This strategic positioning allows them to cater to the growing demand for energy-efficient solutions in the logistics sector. Similarly, Carrier Transicold (US) has been investing in electric refrigeration technologies, indicating a shift towards more sustainable practices that resonate with current environmental concerns. These collective strategies contribute to a competitive environment that prioritizes technological advancement and sustainability.

In terms of business tactics, companies are increasingly localizing manufacturing and optimizing their supply chains to enhance responsiveness to market demands. The market structure appears moderately fragmented, with several players vying for market share while also collaborating on technological advancements. This fragmentation allows for a diverse range of offerings, catering to various customer needs, while the influence of key players like Penske Truck Leasing (US) and Wabash National Corporation (US) helps to stabilize the market dynamics through their extensive networks and resources.

In October 2025, Ryder System Inc (US) announced a strategic partnership with a leading technology firm to develop AI-driven logistics solutions aimed at improving fleet management. This move is significant as it positions Ryder at the forefront of digital transformation within the refrigerated truck-rental sector, potentially enhancing operational efficiencies and customer service. The integration of AI could lead to predictive maintenance and optimized routing, which are critical in maintaining the integrity of temperature-sensitive goods.

In September 2025, Great Dane Trailers (US) unveiled a new line of eco-friendly refrigerated trailers designed to reduce carbon emissions by 30%. This initiative not only aligns with global sustainability goals but also addresses the increasing regulatory pressures on emissions in the transportation sector. The introduction of these trailers could provide Great Dane with a competitive edge, appealing to environmentally conscious customers and enhancing their market position.

In November 2025, XPO Logistics (US) expanded its refrigerated fleet by acquiring 200 new units equipped with the latest temperature control technology. This expansion reflects XPO's commitment to meeting the rising demand for reliable refrigerated transport solutions. By enhancing their fleet capabilities, XPO is likely to improve service delivery and customer satisfaction, which are crucial in a market where reliability is paramount.

As of November 2025, the competitive trends in the refrigerated truck-rental market are increasingly defined by digitalization, sustainability, and the integration of AI technologies. Strategic alliances are becoming more prevalent, as companies recognize the need to collaborate in order to innovate and enhance their service offerings. Looking ahead, it appears that competitive differentiation will evolve from traditional price-based competition to a focus on innovation, technology integration, and supply chain reliability. This shift suggests that companies that prioritize these aspects will likely gain a significant advantage in the marketplace.

Key Companies in the US Refrigerated Truck Rental Market market include

Industry Developments

The US Refrigerated Truck Rental Market has been experiencing significant developments recently. In October 2023, Ryder announced an expansion of its fleet with new energy-efficient refrigerated trucks to meet rising demand in perishable goods transport. Similarly, XPO Logistics has been increasing its rental options, enhancing flexibility for clients requiring temperature-controlled transport solutions. In September 2023, Thermo King launched new refrigeration technologies aimed at improving fuel efficiency and reducing emissions, impacting operational costs positively for rental companies like Enterprise Truck Rental and Penske.

In terms of mergers and acquisitions, no recent public developments have been reported for the specified companies in this market. However, overall market valuation reflects a growth trend, with an increase driven by heightened demand in e-commerce and food delivery sectors, further supported by government initiatives promoting cold chain logistics. The COVID-19 pandemic has sustained a higher emphasis on healthcare logistics and temperature-sensitive deliveries since 2020, leading to sustained investments in refrigerated rental fleets and technologies, evident from shifts in company strategies among major players such as Swift Transportation and FleetPride.

Future Outlook

US Refrigerated Truck Rental Market Future Outlook

The refrigerated truck-rental market is projected to grow at a 9.73% CAGR from 2024 to 2035, driven by increasing demand for temperature-sensitive goods and logistics efficiency.

New opportunities lie in:

  • Expansion of temperature-controlled last-mile delivery services.
  • Integration of IoT for real-time fleet monitoring and management.
  • Development of flexible rental models for seasonal demand fluctuations.

By 2035, the market is expected to achieve robust growth, positioning itself as a leader in logistics solutions.

Market Segmentation

US Refrigerated Truck Rental Market Truck Outlook

  • Light
  • Medium
  • Heavy

US Refrigerated Truck Rental Market Rental Term Outlook

  • Short-Term
  • Long-Term

US Refrigerated Truck Rental Market Downstream Field Outlook

  • Food and Beverages
  • Retail
  • Others

Report Scope

MARKET SIZE 2024 18.0(USD Billion)
MARKET SIZE 2025 19.75(USD Billion)
MARKET SIZE 2035 50.0(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR) 9.73% (2024 - 2035)
REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR 2024
Market Forecast Period 2025 - 2035
Historical Data 2019 - 2024
Market Forecast Units USD Billion
Key Companies Profiled Thermo King (US), Carrier Transicold (US), Utility Trailer Manufacturing Company (US), Great Dane Trailers (US), Wabash National Corporation (US), Penske Truck Leasing (US), Ryder System Inc (US), XPO Logistics (US)
Segments Covered Truck, Rental Term, Downstream Field
Key Market Opportunities Adoption of advanced telematics for enhanced fleet management in the refrigerated truck-rental market.
Key Market Dynamics Rising demand for temperature-sensitive goods drives growth in refrigerated truck-rental services amid evolving regulatory standards.
Countries Covered US

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FAQs

What is the expected market size of the US Refrigerated Truck Rental Market in 2024?

The US Refrigerated Truck Rental Market is expected to be valued at 13.5 USD Billion in 2024.

What is the projected market value of the US Refrigerated Truck Rental Market by 2035?

By 2035, the market is projected to reach a value of 38.5 USD Billion.

What is the compound annual growth rate (CAGR) of the US Refrigerated Truck Rental Market from 2025 to 2035?

The market is expected to experience a CAGR of 9.996% during the period from 2025 to 2035.

Which segment of the US Refrigerated Truck Rental Market is projected to dominate in terms of market value by 2035?

The Light truck segment is projected to dominate, expected to reach 11.5 USD Billion by 2035.

What is the expected market value for the Medium truck segment in 2035?

The Medium truck segment is anticipated to reach a market value of 14.5 USD Billion by 2035.

What are the major key players in the US Refrigerated Truck Rental Market?

Major players include Pace Transportation, Swift Transportation, FleetPride, Schneider National, and Crete Carrier Corporation, among others.

How much is the Heavy truck segment expected to be valued at in 2035?

The Heavy truck segment is expected to reach a value of 12.5 USD Billion by 2035.

What are the key applications driving the US Refrigerated Truck Rental Market growth?

Key applications driving growth include food and beverage transportation, pharmaceuticals, and other temperature-sensitive goods.

Is there a notable trend in the US Refrigerated Truck Rental Market?

A notable trend includes the increasing demand for efficient cold chain solutions driving rental market growth.

What challenges do players in the US Refrigerated Truck Rental Market face?

Challenges include maintaining fleet efficiency amidst rising operational costs and regulatory compliance for temperature control.

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