NAICS 493120 Quarterly Industry Report
Refrigerated Warehousing and Storage
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 493120Sector: 49Updated: Q1 2026
About This Report
This NAICS 493120 industry profile draws from Census Bureau[5] establishment and employment data, Bureau of Labor Statistics[6] wage statistics for warehousing and storage workers, and SBA[7] size standard thresholds. Fair Market Value updates this report quarterly, monitoring cold storage capacity use, refrigeration energy costs, and food supply chain demand patterns. Our research team provides NAICS 493120 valuation professionals with benchmarks on revenue per pallet position, energy cost ratios, and facility build-out costs for temperature-controlled warehousing.
Industry Snapshot
Key metrics for the refrigerated warehousing and storage industry.
Industry Definition & Overview
Refrigerated Warehousing and Storage (NAICS 493120) encompasses establishments primarily engaged in operating refrigerated warehousing and storage facilities. These cold storage operations maintain temperature-controlled environments ranging from deep freeze at minus 20 degrees Fahrenheit to cool storage above 32 degrees for perishable goods including frozen foods, dairy products, meat, seafood, pharmaceuticals, and floral products. Fur storage for the trade is also classified here.
Census Bureau data[5] shows this industry includes both public cold storage operators renting space to multiple customers and private facilities dedicated to a single company's distribution needs. Cold chain logistics has grown in importance as consumer demand for fresh and frozen foods increases, online grocery delivery expands, and pharmaceutical temperature requirements tighten. Revenue comes from per-pallet storage fees differentiated by temperature zone, blast freezing and tempering charges, and handling fees for receiving, staging, and shipping products.
Bureau of Labor Statistics[6] data shows cold storage workers earn a premium over ambient warehouse workers due to the demanding physical environment. Energy costs represent a much larger share of operating expenses than in general warehousing, as refrigeration systems run continuously. Capital intensity is high; building insulated structures with ammonia or freon-based cooling plants costs substantially more per square foot than standard warehouse construction. Industry consolidation has accelerated as large operators acquire regional cold storage networks to build national coverage.
What's Included in This Industry
- Operating multi-temperature cold storage warehouse facilities
- Blast freezing services for rapid temperature reduction of food products
- Tempering services bringing frozen goods to processing temperatures
- Modified atmosphere storage for extended shelf life of fresh produce
- Frozen food distribution center operations and inventory management
- Pharmaceutical cold chain storage meeting GDP compliance standards
- Fur storage for the trade in climate-controlled vault facilities
- Cross-docking and order consolidation in temperature-controlled docks
- Frozen meat, seafood, and poultry storage and handling services
- Ice cream and dairy product hardening and storage operations
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Subsector | Warehousing and Storage | 493 |
| Industry Group | Warehousing and Storage | 4931 |
| NAICS Industry | Refrigerated Warehousing and Storage | 49312 |
| National Industry | Refrigerated Warehousing and Storage | 493120 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 493110 | General Warehousing and Storage | General warehousing facilities operating at ambient temperature conditions, distinct from the refrigerated and frozen storage environments maintained by cold chain operators |
| 493130 | Farm Product Warehousing and Storage | Farm product warehousing storing agricultural commodities like grain in bulk, while refrigerated warehouses handle perishable food products requiring active temperature control |
| 493190 | Other Warehousing and Storage | Other warehousing and storage operations including self-storage facilities that serve personal storage needs rather than commercial cold chain logistics |
| 424410 | General Line Grocery Merchant Wholesalers | General line grocery merchant wholesalers that store and distribute food products through cold chain networks maintained by refrigerated warehouse operators |
| 424520 | Livestock Merchant Wholesalers | Livestock merchant wholesalers moving meat and poultry products through cold storage facilities for temperature-controlled distribution to retailers and processors |
| 484230 | Specialized Freight (except Used Goods) Trucking, Long-Distance | Specialized freight trucking firms operating refrigerated trailers that transport perishable goods between cold storage facilities and retail delivery points |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 14.8% | 180 |
| 2 | Texas | 9.4% | 114 |
| 3 | Florida | 5.7% | 69 |
| 4 | Wisconsin | 5.7% | 69 |
| 5 | Georgia | 4.8% | 58 |
| 6 | New Jersey | 4.6% | 56 |
| 7 | Washington | 4.2% | 51 |
| 8 | Pennsylvania | 3.7% | 45 |
| 9 | New York | 3.4% | 41 |
| 10 | Illinois | 2.7% | 33 |
% Of Establishments
0%
15%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
24
Total SBA Loans
$65.1M
Total Loan Volume
$2.7M
Average Loan Size
8 yrs
Average Loan Term
8.82%
Average Interest Rate
2,568
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: Under SBA size standards[7], NAICS 493120 businesses qualify as small with average annual receipts up to $36.5 million. Cold storage operators can access SBA 7(a) loans[8] for refrigeration equipment, facility upgrades, and working capital. The 504 loan program[9] supports acquisition of cold storage real estate, industrial refrigeration systems, and insulated building construction. Energy efficiency upgrades, including ammonia system replacements and solar panel installations, represent common SBA financing applications in this industry.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | First Service Bank | 8 | $40.0M | $5.0M |
| 2 | West Coast Community Bank | 8 | $24.0M | $3.0M |
| 3 | FirstBank Puerto Rico | 8 | $1.1M | $135K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 493120?
Public cold storage operators, frozen food distribution centers, pharmaceutical cold chain facilities, blast freezing services, and fur storage establishments are classified under NAICS 493120. General ambient-temperature warehousing falls under NAICS 493110[10].
How is NAICS 493120 structured within the transportation sector?
NAICS 493120 sits within Subsector 493 (Warehousing and Storage) alongside general warehousing (493110), farm product storage (493130), and other storage (493190). Temperature-controlled storage requirements distinguish this code from all other warehousing categories.
What is the SBA size standard for NAICS 493120?
The SBA size standard[7] for NAICS 493120 is $36.5 million in average annual receipts, slightly higher than the $34 million threshold for general warehousing. This reflects the higher capital costs and operating expenses of refrigerated facilities.
What NAICS codes are most closely related to 493120?
Related codes include 493110 (General Warehousing and Storage), 493130 (Farm Product Warehousing), 424410 (General Line Grocery Wholesalers), 424520 (Livestock Merchant Wholesalers), and 484230 (Specialized Freight Trucking). These codes represent the cold chain supply network from storage to distribution.
What industries drive the most demand for cold storage?
Frozen food manufacturers, grocery retailers, meat and poultry processors, and pharmaceutical companies generate the largest cold storage demand. Online grocery delivery growth has added incremental capacity needs. Bureau of Labor Statistics[6] wage data reflects the premium compensation cold storage workers receive for operating in challenging temperature environments.
What activities are included in NAICS 493120?
Included activities cover multi-temperature warehouse operations, blast freezing, tempering, modified atmosphere storage, frozen food distribution, pharmaceutical cold chain storage, fur storage, and refrigerated cross-docking. Ambient-temperature storage is excluded per Census Bureau[11] classification.
Are NAICS 493120 businesses eligible for SBA loans?
Yes, cold storage firms under $36.5 million qualify for SBA 7(a) loans[8] for equipment and working capital, and 504 loans[9] for refrigerated building construction and industrial cooling systems. Energy efficiency upgrades represent a common SBA financing application given the high electricity costs of refrigeration operations.
Where are NAICS 493120 businesses geographically concentrated?
Cold storage facilities cluster near food production regions and major population centers. California's Central Valley, the Midwest meatpacking corridor (Iowa, Nebraska, Kansas), Pacific Northwest seafood regions, and port cities handling imported frozen goods have the highest concentrations per Census Bureau[5] establishment data.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]Census Bureau data data.census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]SBA sba.gov
- [8]SBA 7(a) loans sba.gov
- [9]504 loan program sba.gov
- [10]NAICS 493110 census.gov
- [11]Census Bureau census.gov
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