refrigerated sea transport containers Market

Since decades, sea transport has been important mode of transportation to the people across the globe, while considering value of goods 23% of the trade between countries is observed to be in common border countries. The increasing house-hold income is setting higher demands for quality of goods and this is spurring the demand for containerized reefers to meet the requirements of these house-hold or regions. Growing demand for fresh food and other commodities across the different parts of the globe has set new dimension for cost effective and efficient transportation from one port to another in shorter period of time.

Manufacturers have been steadily investing in improvising container infrastructure to meet the demands and requirements of the trade. Specialized reefers have been losing on their market share to containerized reefers due to increasing advancements in containerized reefers facilities. Owing to the above drivers the overall market volume is expected to grow from 2.35 MTEU in 2014 to 3.46 M TEU in 2020 with a CAGR of 6.7%.

Some of the key restraints of the global refrigerated sea transport containers market such as hiked prices of specialized reefers and irregular distribution channels which impacts the operational costs of transportation. However increasing advancements in infrastructure of containerized reefers has set new dimension to the containers market, the demand for containerized reefers has outpaced the specialized reefer containers market in recent years and this trend is expected to continue in coming years along with bridging gap of transportation demands and rising reefer costs.

Refrigerated sea transport containers market has been divided by type i.e., containerized reefers and specialized reefers. The market is further bifurcated by segments of commodities such as pharmaceuticals, sea food, fresh produce, meat and others. Refrigerates sea transport containers market has been studied by geography`s which includes North America, Europe, APAC, Latin America (SAM) and Middle East & Africa (MEA). One of the most prevalent regions is China which has marked major share of sea transport container manufacturing owing to the high import/export of commodities from and to regions like Europe and Americas, however South America is next emerging regions to register faster growth rate in recent years and will continue to grow in coming year which is evident through investments from key players in the market. Some of the major players of refrigerated sea transport containers market are CMA CGM, Evergreen, NYK Line, K-Line Shipping, China Shipping Containers Line Co Ltd, Hanjin Shipping Co., Ltd, Hapag Llyod and Kling Corporation among others.