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Reefer Container Market
A reefer container, also known as a refrigerated container, is a type of shipping container used to transport temperature-sensitive items such as food
Expansion of international trade and growing demand for fresh and frozen food drive the growth of the reefer container market.” - Allied
market ResearchWILMINGTON, NEW CASTLE, DE, UNITED STATES, September 6, 2024 /EINPresswire / -- The global Reefer Container Market Size was valued at $9.7 billion in 2022, and is projected to reach $19.8 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032. Expansion of international trade, and growing demand for fresh and frozen food drive the growth of the global reefer container market. However, high capital investment and operational complexities restricts the market growth. Moreover, advancement in cold chain technologies, and integration of other technology presents new opportunities in the coming years.
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A reefer container, also known as a refrigerated container, is a type of shipping container used to transport temperature-sensitive items such as food, pharmaceuticals, and chemicals. It enables the safe transportation of temperature sensitive goods when the goods are transported to a great distance. This is possible, as the containers are outfitted with sophisticated cooling and heating systems to keep the proper temperature range constant throughout the travel which allows the goods to be transported in secure and desirable condition. Reefer containers also allow accurate temperature control, which is critical for maintaining the quality and freshness of perishable commodities. Furthermore, these containers provide airtight and safe storage, shielding the cargo from outside elements and any contamination.
The key players profiled in this report include
Seacube Containers LLC, Singamas Container Holdings Ltd., China International Marine Containers (Group) Co., Ltd., Daikin Industries, Ltd., Ocean Network Express Pte. Ltd., MSC Mediterranean Shipping Company S.A., A.P. Moller - Maersk, ZIM Integrated Shipping Services Ltd., Hapag-Lloyd AG, CMA CGM Group
The reefer containers are essential for the any industry that are transporting the perishable or temperature sensitive goods. The containers help to maintain the integrity of any product and helps to monitor the product and the temperature during the transportation. It also helps to maintain the growing demand for any temperature sensitive product either it is food or healthcare product.
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By size, the 20-40 feet segment held the highest market share in 2022, accounting more than two-fifth of the global reefer container market revenue , and is estimated to maintain its leadership status during the forecast period. This segment is projected to attain the highest CAGR of 8.1% from 2023 to 2032, owing to the ability to carry greater volumes of package without losing its integrity is expected to increase the demand for 20-40 feet reefer containers in the market.
Pharmaceutical reefer units are offered to control the temperature of pharmaceutical products and allow the shipper to monitor it throughout the journey. These containers are outfitted with sensors that can detect minor temperature differences and even tell whether the products have been exposed to light.
Based on mode of transportation, the sea segment held the highest market share in 2022, accounting nearly two third of the global reefer container market revenue, owing to the need to travel long distance on sea with temperature sensitive cargo is expected to increase the demand for reefer transportation on sea. However, the roadways segment is expected to witness the fastest CAGR of 8.8% from 2023 to 2032, owing to rise in the need to transport goods over long distances on road with temperature sensitive cargo is expected to increase the demand for reefer transportation on roadways.
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Region-wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting more than one-fourth of the global reefer container market revenue, and is estimated to maintain its leadership status during the forecast period. This segment is projected to manifest the highest CAGR of 9.1% from 2023 to 2032, owing to its high volume of agricultural and food exports, that requires reefer container for transportation, thus increasing the demand for the containers in the region.
Another company American seafood is a seafood corporation which specializes in the processing and harvesting of seafood. The company process seafood such as crabs, fish, shrimp, crustaceans. The company is predominantly active in the North Pacific Ocean, their operations are global in scope, with a focus on selling high-quality seafood products to consumers worldwide. It uses reefer containers to carry their perishable fish items throughout their operations. During long-distance exports, these containers are critical for maintaining the proper temperature and keeping the freshness of the seafood. American Seafoods exports their Alaskan king crab to markets in Asia. In Asian market the company sells king crabs, after the king crabs are caught and processed, they are carefully packed into reefer containers. These containers are equipped with advanced cooling systems that maintain the necessary low temperatures to keep the crabs fresh and maintain their quality during transit.
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The report provides a detailed analysis of these key players in the global reefer container market . These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.