Reefer Container Market

Reefer Container Market Size, Share, Trends, Growth, and Industry Analysis, By Size (20 Feet, 40 Feet, above 40 Feet), Transportation Mode (Seaways, Roadways, and Railways), Industry (Food & Beverages, Pharmaceutical, and Chemical) Regional Insights and Forecast to 2032

Automobile & Transportation | August 2022 | Report ID: EMR0014 | Pages: 251

global reefer container market size was USD 3,269.2 TEU in 2022 and the market is projected to touch USD 8479.46 TEU by 2032, at a CAGR of 10.0% during the forecast period.

 

Major factors responsible for the market growth include the increasing number of trade routes, rising demand for pharmaceutical drugs, expanding e-commerce industry, and advent of the real-time tracking technology.

Market Growth
The main factors responsible for the growth of the market include the increase in the number of trade routes, the growth in demand for pharmaceutical drugs, the expansion of the e-commerce industry, and the advent of real-time tracking technology. Econ Market Research’s report on Reefer Container Market studies the past and current opportunities of growth and trends to get a clear picture of the growth indicators of the market for the forecast period 2023 to 2031. The report also offers the revenue generated by the Reefer Container market considering 2021 as the historical year, 2022 as the base year, and 20231 as the forecast year. The report also consists of the compound annual growth rate (CAGR) for the Reefer Container market over the forecast period.

COVID-19 IMPACT

Due to the COVID-19 pandemic, the global reefer container market has been negatively impacted. This is mainly due to the regulations laid down by governments worldwide such as lockdown & social distance. Therefore, containers that were shipped to the major ports are either stranded onboard ships, off-loaded at alternate locations, or are sitting at various ports and terminals in demurrage and detention. Moreover, the COVID-19 pandemic has caused companies in the global transportation and logistics industry to face economic stress due to liquidity, labor shortage, fewer contracts, and other issues and resulted in ceased payment to employees and a severe decline of ~16% in the global trade volume.

In the past, the food category dominated the global reefer container market, under segmentation by industry. With the growing population pushing up the demand for food, pharmaceutical drugs, expanding e-commerce industry, the use of reefer containers to transport them over long distances is rising. This is because most of the food products, including fruits, vegetables, dairy, meats and poultry, need to be shipped at sub-zero temperatures to prevent spoilage.

REPORT SCOPE & SEGMENTATION:

Report Attribute

Details

Estimated Market Value (2022)

3,269.2 (TEU)

Base Year

2022

Forecast Years

2023 - 2031

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Transport Mode, Size, Industry, Region

Segments Covered

By Transport Mode, By Size, By Industry, and Region

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2031

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

 Top Impacting Factors

  • The 40ft container is expected to experience the fastest growing refrigerated container market during the forecasts period. This is mainly because the 40ft containers are designed to carry bulk goods rather than heavy goods. Therefore, higher capacity and small difference in cost of containers are expected to increase the penetration of 40ft containers during the forecasts period. 
  • There is a huge demand for Prioritizing ships for internationals trade. Ocean freight accounted for the largest share of the global reefer container market and is expected to continue to rank early in the coming years. 
  • This is mainly due to the expansion of world trade in refrigerated perishable goods at sea, coupled with advancements in refrigerated container technology. In addition, most of the major country in the region are home to many sea-ports and inland ports, and the region experiences the fastest rate of urbanization development, which has resulted in increased trade volume.

Recent Development

  • SeaCube Containers LLC acquired 200 Carrier Pods monitored by Sensitech Inc. in order to address the anticipated increases in the demand for refrigerated storage capacity, as well as cargo visibility, in support of the COVID-19 vaccine distribution efforts.
  • A.P. Moller - Maersk A/S acquired Performance Team LLC. This will further strengthen the capabilities of the former company as an integrated container logistics company offering end-to-end supply chain solutions. Performance Team LLC offers business-to-business (B2B) and business-to-consumer (B2C) distribution solutions to the retail, wholesale, and e-commerce sectors, with 24 warehousing sites.

Competitive Landscape:

Some of the main manufacturers of Reefer Container Market are:

  • A.P. Moller - Maersk A/S
  • Singamas Container Holdings Ltd.
  • China International Marine Containers (Group) Co. Ltd.
  • Seaco Srl
  • Triton International Ltd.
  • MSC Mediterranean Shipping Company S.A.
  • Hapag-Lloyd AG
  • Ocean Network Express (ONE) Pte. Ltd.
  • ZIM Integrated Shipping Services Ltd.
  • SeaCube Container Leasing Ltd.
  • Klinge Corporation
  • W&K Containers Inc.
  • Almar Container Group
  • Daikin Reefer
  • Klinge Corporation
  • Fortune Container Trading
  • Singamas
  • Global Sea Containers Ltd
  • BSL Refrigerated Containers
  • Pioneer Refrigeration
  • Air Conditioning Works
  • NYK Line

Regional Analysis

The Global Reefer Container market report provides a study for more than 20 countries and their market players The report covers a regional and country-level analysis that covers North America, South America, Europe, Asia Pacific (APAC), Africa, and the Middle East. The market is deeply analyzed for each region, which helps in identifying the market trends, size, share etc. for each region, growth opportunities, and restraining factors.

Segmentations:

Based on Size

  • 20 Feet
  • 40 Feet
  • More than 40 Feet

Based on Transportation Mode

  • Seaways
  • Roadways
  • Railways

Based on Industry

  • Food
    • Fruits
    • Meat/poultry
    • Fish/seafood
    • Vegetables
    • Dairy products
  • Pharmaceutical
    • Liquid medicines
    • Pills
    • Vaccines
    • Biologicals
    • Chemical

Geographical Analysis

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • Netherlands
    • France
    • Italy
    • Spain
  • Asia-Pacific (APAC)
    • China
    • India
    • Japan
    • Australia
  • Latin America (LATAM)
    • Brazil
    • Mexico
    • Argentina
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • U.A.E.

 

Questions Answered in the Report :

  • Which are the leading players active in the Global Reefer container market
  • What are the current trends that will influence the market in the next few years
  • What are the driving factors, restraints, and opportunities of the market
  • What future projections would help in taking further strategic steps
  • What is "Global Reefer Container" Market prediction in the future

 

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

On the basis of Geography, the liquid flavor enhancers market is classified into North America, Europe, Asia Pacific, and the Rest of the world
According to reefer container market research, the market is expected to grow at a CAGR of 10.0% over the coming years.
Asia-Pacific is expected to register the highest CAGR during 2024 - 2032.
The major countries covered in the global reefer container market include U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others