Canada Refrigerated Vehicles Market Size
| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 380.30 Million |
| Market Size (2030) | USD 468.29 Million |
| CAGR (2025 - 2030) | 4.25% |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Canada Refrigerated Vehicles Market Analysis
The Canada Refrigerated Vehicles Market size is estimated at USD 380.30 million in 2025, and is expected to reach USD 468.29 million by 2030, at a CAGR of 4.25% during the forecast period (2025-2030).
The demand for the refrigerated vehicles market is influenced by rising temperature-controlled transportation of perishable goods across the country. The rise in food trade and the need to reduce food wastage have amplified the importance of efficient cold chain logistics.
Canada currently accounts for around 12 million cubic meter of refrigerated warehouses capacity. Stringent food safety regulations and quality standards set by Canadian authorities compel food producers, distributors, and logistics companies to invest in reliable refrigerated transportation solutions. Refrigerated vehicles equipped with temperature monitoring and control systems ensure compliance with the government-set regulations, safeguarding the quality of goods with less life during transit.
The advent of electric and hybrid refrigerated vehicles powered by sustainable energy sources is poised to change the dynamics of the market. As environmental sustainability concerns intensify by reducing carbon emissions in the country, fleet operators and logistics companies in Canada are embracing eco-friendly refrigeration solutions to reduce their carbon footprint.
The refrigerated vehicles market is on a steady growth trajectory driven by food safety regulations and expanding cold chain infrastructure. Further, cross-border supply chains are critical with significant volumes of food and agricultural products moving across the Canadian and U.S. border daily.
The United States accounts for around 50% of all Canadian agriculture and agrifood exports and around 60% of the value of Canadian food imports. The United States is a net importer of Canadian beef and cattle, Canada relies heavily on seasonal imports of fresh produce from the United States and Mexico, thus refrigerated vehicles are important for a key share of the imports and exports as the products are perishable goods.
Canada Refrigerated Vehicles Market Trends
Light Commercial Vehicles Dominates in Canada’s Refrigerated Vehicles Market
Demand for light commercial vehicles in the refrigerated vehicles segment in Canada is experiencing significant growth driven by the increase in demand for efficient transportation. Light commercial vehicles are widely used for transporting fresh produce, dairy products, frozen foods, and pharmaceuticals, have become an essential asset for businesses seeking and cost-effective delivery solutions in urban and suburban areas in the country. Rising consumer preference for convenience food, including ready-to-eat meals, frozen items, and fresh groceries, is propelling the demand equipped with advancements in refrigeration technology.
- Several factors have contributed to the higher demand for LCVs in Canada, first and forecast infrastructure for the production already exists, since more than 1 million light commercial vehicles are being manufactured annually in the country whereas, 17,529 heavy vehicles were produced in 2023.
The flexibility and mobility of these vehicles make them ideal for last-mile delivery operations, which are essential in diverse geographical landscapes. Retailers and e-commerce businesses are increasingly adopting refrigerated LCVs to cater to their growing consumer expectations for same-day delivery of temperature-sensitive products. Furthermore, their compact size also makes them more suited for navigating dense urban centers compared to their counterparts.
Technological advancements have further enhanced the efficiency, several vehicles are now being equipped with multi-temperature control systems, this customization benefits them to transport various products with distinct storage requirements. Moreover, the integration of real-time tracking systems and IoT-enabled temperature monitoring further bolsters process efficiency while meeting food safety regulations.
Government regulations are now being focused on sustainability and there is growing emphasis on reducing carbon footprints, encouraging the use of electric and hybrid refrigerated vehicles. This further reduces operational costs, lower emissions, and quiet operation, aligning with the evolving demands of various entities. Leading manufacturers are heavily investing in innovation to develop advanced refrigerated LCVs to meet the specific requirements of the customers.
The food and pharmaceutical industries are projected to grow steadily, and the demand for refrigerated LCVs will simultaneously rise. Growth in the cold chain infrastructure and significant investments in urban logistics further contribute to the rising demand for these vehicles.
Expanding Cold Chain Logistics Drives the Canada Refrigerated Vehicles Market
Cold chain logistics is emerging as a pivotal driver of demand within Canada, fuelled by the requirements for efficient transportation and temperature management of perishable goods. The country’s expansive geography with urban centres dispersed across long distances and remote areas often reliant on air transport, highlights the market potential untapped of robust cold chain logistics networks. Temperature-sensitive items including fresh produce, frozen meats, dairy items, and seafood rely on refrigeration solutions during transit to minimize avoidable losses, which are generally 5% during distribution and 12% at the retail level.
Prominent players including Americold Logistics and Congebec are leveraging technological innovations to enhance the reliability of temperature monitoring in cold chain operations. For instance, Lineage Logistics Ltd. integrated IoT-enabled sensors in refrigerated trailers to ensure precise temperature control and prevent spoilage during distant transportation. Further, Conestoga's investment in route optimization and telematics supports temperature consistency across challenging terrains, particularly in serving the Northern villages and rural communities that are dependent on air freight for food supplies.
Canada's role as a global trade hub for perishable products amplifies the demand for sophisticated cold chain logistics. The export of fresh and chilled bovine products and salmon, alongside the import of frozen fruits and vegetables signifies requirements for refrigerated vehicles. For instance, frozen lobster exports from Canada, are dependent on effective cold chain management to maintain product integrity during transit to the overseas markets.
Despite these growth influencing factors, the industry also faces certain challenges, including inconsistent freight volumes and price pressures. Spot refrigerated rates are currently 7% lower than the same period in 2022, impacting smaller haulers and intensifying competition.
With global trade opportunities expanding, cold chain logistics possesses significant opportunities. Several companies are collaborating with transportation service providers and refrigerator vehicle manufacturers to place orders in advance for timely delivery and to boost their expansions by creating a new customer base. For instance,
- In 2023, Cargill announced it had completed the acquisition of Owensboro Grain Company, a fifth-generation family-owned soybean processing facility and refinery located in Owensboro. The addition of Owensboro Grain Company will enhance Cargill's efforts to increase capacity across its North American oilseeds network to support the growing demand for oilseeds driven by food, feed, and renewable fuel markets.
- In September 2024, Wabash announced that Kodiak Robotics, Inc., an autonomous trucking company, has entered a partnership to utilize Wabash’s Trailers offerings. This will provide Kodiak with a flexible solution with access to a growing fleet of safe, reliable trailers nationwide.
Canada Refrigerated Vehicles Industry Overview
The Canada Refrigerated Vehicles Market is fairly consolidated in nature. Some of the key players active in the market include Morgan Canada Corporation, Thermo King Eastern Canada, Vanguard National Trailer Corp., Verspeeten Cartage Ltd., Wabash Canada, Isokit Canada Inc., GreenPower Motor Company, Manac Inc., and others. Some of the key players in the market are focusing on widening their customer base through marketing and branding, innovative design, and strategic business ideas. Certain players aim to expand their presence and reach in the domestic market by collaborating with transport service providers to bolster their annual sales. For instance,
- In October 2023, Thermo King introduced an alternative for large truck diesel refrigeration systems, this offering is designed to minimize environmental impact and improve overall efficiency in the transportation sector.
- In May 2023, Morgan Truck Body, a key manufacturer of light- and medium-duty freight and refrigerated van and truck bodies in North America, shared innovations and strategies to address the growing need for middle- and last-mile package, dry freight, and refrigerated delivery trucks in Canada.
Canada Refrigerated Vehicles Market Leaders
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Morgan Canada Corporation
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Thermo King Eastern Canada
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Vanguard National Trailer Corp.
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Verspeeten Cartage Ltd.
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Wabash Canada
- *Disclaimer: Major Players sorted in no particular order
Canada Refrigerated Vehicles Market News
- September 2024: Thermo King Eastern Canada announced the launch of Coldtainer's new F0760 AuO model. This model becomes the tallest front-loading portable refrigeration unit in the series. This state-of-the-art autonomous portable refrigeration container of the company is designed to meet the increasing demand for reliable and efficient temperature-controlled storage solutions across various industry verticals such as food service, pharmaceuticals, and logistics.
- March 2024: Morgan Truck Body LLC announced that it had acquired Transit Truck Bodies Inc., a manufacturer of truck bodies in Laval, Quebec, Canada. This acquisition of Transit increases the company’s presence in the region with a total number of Morgan Truck Body facilities to 14 manufacturing sites in North America.
- May 2024: GreenPower Motor Company Inc., a leading manufacturer of refrigerated vehicles, announced that the company launched a new state-of-the-art all-electric refrigerated truck.
Canada Refrigerated Vehicles Industry Segmentation
Refrigerated vehicles are specially designed trucks and vans equipped with refrigeration systems to transport perishable goods under controlled temperature conditions. Refrigerated vehicles are used in the transportation of different types of pharmaceutical products, chemicals and biologics, and different types of food and beverages by logistics service providers, retailers, cold storage service providers, and others.
The scope of the Canada Refrigerated Vehicles Market is segmented by Vehicle Type, Technology, Application, and End User. By Vehicle Type, the market is segmented into Light Commercial Vehicles, Medium Commercial Vehicles, and Heavy Commercial Vehicles. By Technology, the market is segmented into Compressor-Driven, Cryogenic Cooling, and Evaporative Cooling. By Application, the market is segmented into Food & Beverages, Pharmaceuticals, Chemicals, and Others. By End User, the market is segmented into Retail Chains, Logistics Service Providers, Cold Chain Logistics, and Others.
The report offers the market size in value (USD) and forecasts for all the above segments.
| By Vehicle Type | Light Commercial Vehicles (LCVs) |
| Medium Commercial Vehicles (MCVs) | |
| Heavy Commercial Vehicles (HCVs) | |
| By Technology | Compressor-Driven |
| Cryogenic Cooling | |
| Evaporative Cooling | |
| By Application | Food & Beverages |
| Pharmaceuticals | |
| Chemicals | |
| Others | |
| By End User | Retail Chains |
| Logistics Service Providers | |
| Cold Chain Logistics | |
| Others |
| Light Commercial Vehicles (LCVs) |
| Medium Commercial Vehicles (MCVs) |
| Heavy Commercial Vehicles (HCVs) |
| Compressor-Driven |
| Cryogenic Cooling |
| Evaporative Cooling |
| Food & Beverages |
| Pharmaceuticals |
| Chemicals |
| Others |
| Retail Chains |
| Logistics Service Providers |
| Cold Chain Logistics |
| Others |
Canada Refrigerated Vehicles Market Research FAQs
How big is the Canada Refrigerated Vehicles Market?
The Canada Refrigerated Vehicles Market size is expected to reach USD 380.30 million in 2025 and grow at a CAGR of 4.25% to reach USD 468.29 million by 2030.
What is the current Canada Refrigerated Vehicles Market size?
In 2025, the Canada Refrigerated Vehicles Market size is expected to reach USD 380.30 million.
Who are the key players in Canada Refrigerated Vehicles Market?
Morgan Canada Corporation, Thermo King Eastern Canada, Vanguard National Trailer Corp., Verspeeten Cartage Ltd. and Wabash Canada are the major companies operating in the Canada Refrigerated Vehicles Market.
What years does this Canada Refrigerated Vehicles Market cover, and what was the market size in 2024?
In 2024, the Canada Refrigerated Vehicles Market size was estimated at USD 364.14 million. The report covers the Canada Refrigerated Vehicles Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Canada Refrigerated Vehicles Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Canada Refrigerated Vehicles Industry Report
Statistics for the 2025 Canada Refrigerated Vehicles market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Canada Refrigerated Vehicles analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
