Dublin, Nov. 11, 2020 (GLOBE NEWSWIRE) -- The "Reefer Container Market Research Report: By Size (20 Feet 40 Feet, More than 40 Feet), Transportation Mode (Seaways, Railways, Roadways), Commodity (Chilled, Frozen) - Global Industry Analysis Share, Size and Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
According to a the publisher report, the global reefer container market size is expected to reach 5,981.6 thousand twenty-foot equivalent units (TEU) in 2030, increasing from 2,915.6 TEU in 2019, advancing at a 7.3% CAGR during the forecast period (2020-2030). The market is registering growth due to the emergence of real-time tracking technology, expansion of the e-commerce industry, and rising number of trade routes. On the basis of size, the market is divided into 20 feet, 40 feet, and over 40 feet.
Out of these, the over-40-feet division held the largest share of the reefer container market in 2019, as all the major players in the industry are offering these containers. These containers are equipped with cooling units for controlling the temperature inside, in order to transport delicate goods which need a fixed temperature, including frozen or chilled food items. In terms of transportation mode, the market is categorized into railways, seaways, and roadways, among which, the seaways category held the major share of the market in 2019.
Merchant shipping is being considered the key for the growth of the economy, which is conducting 90% of the international trade, through over 100,000 merchant vessels. When commodity is considered, the reefer container market is divided into frozen and chilled, between which, the chilled division is projected to witness the higher CAGR during the forecast period. Because of time poverty and busy lifestyle, consumers are demanding convenience food items at an increasing rate. The bifurcation is further categorized into vegetables, poultry, dairy, and fruits.
Geographically, the market is being dominated by Asia-Pacific, which can be ascribed to the increasing gross domestic product in India. The market in the region is further being driven by the growing global trade of seaborne perishable reefer cargo and advancements in the reefer container technology. Latin America, Middle East & Africa is projected to witness the highest CAGR during the forecast period, owing to the swift urbanization and large number of inland ports and seaports. The surging population in the region is also creating high demand for food products that is further leading to the growth of the regional market.
A major driving factor of the reefer container market is the emergence of real-time tracking technology. The transportation and logistics industry is registering considerable changes, where integration of real-time tracking technology is a primary advancement. In addition to this, the industry is widely making use of IoT, thereby leading to the growth of the market. For example, A.P. Moller - Maersk A/S's Remote Container Management offers real-time GPS tracking of containers, along with recording and monitoring the power status of reefers.
The rise in trade routes is also a major driving factor if the reefer container market. A single trade route contains long-distance arteries, which allows goods to reach distant markets. This further allows these routes to be connected to smaller networks of non-commercial and commercial transportation routes. Therefore, along with the continuous increase in the worldwide maritime trade volumes and increasing number of trade routes, the industry is projected to register considerable growth.
In conclusion, the market is being driven by the advent of real-time tracking technology and increase in trade routes across the globe.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Size
4.1.1.1 20 feet
4.1.1.2 40 feet
4.1.1.3 More than 40 feet
4.1.2 By Transportation Mode
4.1.2.1 Seaways
4.1.2.2 Railways
4.1.2.3 Roadways
4.1.3 By Commodity
4.1.3.1 Chilled
4.1.3.2 Frozen
4.2 Ecosystem of Global Reefer Container Market
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Increasing partnerships and market consolidation
4.3.2 Drivers
4.3.2.1 Increase in trade routes
4.3.2.2 Expanding e-commerce industry
4.3.2.3 Advent of real-time tracking technology
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Lack of adequate ecosystem and infrastructure
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Growing demand in emerging economies
4.4 Impact of COVID-19 on Reefer Container Market
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Intensity of Rivalry
4.5.5 Threat of Substitutes
Chapter 5. Logistics Industry Overview
Chapter 6. Policy and Regulatory Landscape
6.1 North America
6.1.1 U.S.
6.1.1.1 The Jones Act
6.2 Europe
6.2.1 U.K.
6.2.1.1 The Maritime and Coastguard Agency (MCA)
6.2.2 Germany
6.2.2.1 German Maritime Law
6.3 APAC
6.3.1 China
6.3.1.1 Maritime Code of the People's Republic of China
6.3.2 India
6.3.2.1 The Carriage of Goods by Sea Act, 1925
6.4 LAMEA
6.4.1 Brazil
6.4.1.1 Brazilian Commercial Code
Chapter 7. Global Market Size and Forecast
7.1 By Size
7.2 By Transportation Mode
7.3 By Commodity
7.3.1 Reefer Container Market for Chilled Commodities, by Type
7.3.2 Reefer Container Market for Frozen Commodities, by Type
7.4 By Region
Chapter 8. North America Market Size and Forecast
8.1 By Size
8.2 By Transportation Mode
8.3 By Commodity
8.3.1 Reefer Container Market for Chilled Commodities, by Type
8.3.2 Reefer Container Market for Frozen Commodities, by Type
8.4 By Country
Chapter 9. Europe Market Size and Forecast
9.1 By Size
9.2 By Transportation Mode
9.3 By Commodity
9.3.1 Reefer Container Market for Chilled Commodities, by Type
9.3.2 Reefer Container Market for Frozen Commodities, by Type
9.4 By Country
Chapter 10. APAC Market Size and Forecast
10.1 By Size
10.2 By Transportation Mode
10.3 By Commodity
10.3.1 Reefer Container Market for Chilled Commodities, by Type
10.3.2 Reefer Container Market for Frozen Commodities, by Type
10.4 By Country
Chapter 11. LAMEA Market Size and Forecast
11.1 By Size
11.2 By Transportation Mode
11.3 By Commodity
11.3.1 Reefer Container Market for Chilled Commodities, by Type
11.3.2 Reefer Container Market for Frozen Commodities, by Type
11.4 By Country
Chapter 12. Competitive Landscape
12.1 Market Share Analysis of Key Players
12.2 Product Benchmarking of Key Players
12.3 Global Strategic Developments in the Market
12.3.1 Mergers and Acquisitions
12.3.2 Product and Service Launches
12.3.3 Partnerships
12.3.4 Facility Expansions
12.3.5 Other Developments
Chapter 13. Company Profiles
13.1 A.P. Moller - Maersk A/S
13.1.1 Business Overview
13.1.2 Product and Service Offerings
13.1.3 Key Financial Summary
13.2 Singamas Container Holdings Ltd.
13.2.1 Business Overview
13.2.2 Product and Service Offerings
13.2.3 Key Financial Summary
13.3 China International Marine Containers (Group) Co. Ltd.
13.3.1 Business Overview
13.3.2 Product and Service Offerings
13.3.3 Key Financial Summary
13.4 Seaco Srl
13.4.1 Business Overview
13.4.2 Product and Service Offerings
13.5 Triton International Ltd.
13.5.1 Business Overview
13.5.2 Product and Service Offerings
13.5.3 Key Financial Summary
13.6 MSC Mediterranean Shipping Company S.A.
13.6.1 Business Overview
13.6.2 Product and Service Offerings
13.7 Hapag-Lloyd AG
13.7.1 Business Overview
13.7.2 Product and Service Offerings
13.7.3 Key Financial Summary
13.8 Ocean Network Express Pte. Ltd.
13.8.1 Business Overview
13.8.2 Product and Service Offerings
13.9 ZIM Integrated Shipping Services Ltd.
13.9.1 Business Overview
13.9.2 Product and Service Offerings
13.10 SeaCube Container Leasing Ltd.
13.10.1 Business Overview
13.10.2 Product and Service Offerings
Chapter 14. Appendix
14.1 Abbreviations
14.2 Sources and References
14.3 Related Reports
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