Reefer Container Market Detailed Analysis of Current Industry Figures with Forecasts Growth

The reefer container market is growing on account of the increasing demand for
pharmaceutical products, rising number of trade routes, expanding e-commerce industry, and
surging penetration of the real-time tracking technology. The size of the reefer container
market in 2019 was 3,169.2 thousand twenty-foot equivalent units (TEU), which is predicted
to reach 7,063.3 thousand TEUs by 2030, at an 8.0% CAGR during 2020–2030 (forecast
period). Reefer containers are essentially temperature-controlled containers used to ferry
perishable cargo over long distances, via ships, trains, and trucks.
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During 2014–2019, Asia-Pacific (APAC) dominated the reefer container market, and it will
continue doing so till 2030. This is attributed to the growing population in the region, which is
driving trade volumes. Currently, Shanghai, Singapore, Hong Kong, Tianjin, Qingdao,
Guangzhou, Busan, Ningbo-Zhoushan, and Shenzhen are the busiest ports in the world, and
all are located in APAC. Asa result, trade routes have increasing become directed toward
Asian countries to make the most of the demand for various products.
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On the basis of size, the categories of the reefer container industry are 20 feet, 40 feet, and
more than 40 feet. Among these, the 40 feet category held the largest share in the market in
2019, and it will also grow the fastest during the forecast period. This is because 40-foot
reefer containers are used for carrying high-volume cargo, and they are also similar to 20-foot
variants in cost. Thus, the high loading capacity, combined with the reasonable price of these
containers, offers logistics companies operational cost advantages.
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Hence, as international trade volumes, especially of perishable cargo, grow, so will the
procurement of reefer containers by shipping, trucking, and rail freight companies.
Market Segmentation by Size
• 20 Feet
• 40 Feet
• More than 40 Feet
Market Segmentation by Transportation Mode
• Seaways
• Roadways
• Railways
Market Segmentation by Industry
• Food