Status : Published | Published On : Dec, 2023 | Report Code : VRAT9599 | Industry : Automotive & Transportation | Available Format : | Page : 245 |
Industry Overview
The Global Reefer Container Market is expected to be worth USD 16.5 billion in 2023 and USD 24.6 billion by 2030, growing at a CAGR of 6.1% during the forecast period 2025-2030. The growth of this market can be attributed to increased global trade in perishable commodities, as lower tariffs make the cross-border movement of perishable goods easier.
Furthermore, technological advances in refrigerated systems, especially technological solutions implemented by refrigerated transport service providers to reduce environmental impact, are expected to improve their operational efficiency. Temperature-sensitive pharmaceuticals are projected to increase in demand from USD 328 billion in 2018 to USD 486 billion in 2023. It is also anticipated that temperature control regulations during transit will become more stringent. In the coming years, an increase in pharmaceutical trade between countries might boost demand for reefer containers.
Market Segmentation
Type of Product
• Food
• Non-Food
Based on this the food segment is expected to experience the highest growth as customers become more knowledgeable and selective in their nutritional choices, they are willing to pay a premium for high-quality imported foods. Another factor that will increase food imports and exports, affecting the size of the reefer container industry, is the increasing population.
Type of Vehicle
• LCV
• MHCV
• HCV
Based on vehicle type the LCV segment is estimated to grow at the highest CAGR due to the high demand of home delivery services and developments in the food service and food processing industry. The increased distribution of dairy products and pharmaceuticals by vans for short-distance transportation is also driving demand for refrigerated LCVs.
By Temperature
• Single Temperature
• Multi-Temperature
Based on temperature, the single temperature segment is expected to rise at the fastest rate during the forecast period, owing to the slow development of the refrigerated transport market in developing countries. With the increasing need to meet the growing demand for perishable commodities, the refrigerated transport market in many countries is gaining traction. Single-temperature refrigerated vehicles are commonly used in these countries. As a result, the single-temperature segment is expected to have a larger market share during the forecast period.
By Region
• Europe
• North America
• Asia Pacific
• Rest of the World (RoW)
Based on geographical region, Asia Pacific is expected to witness the highest growth which can be attributed to the increasing GDP of the region. The growing global trade in perishable reefer cargo and advances in reefer container technology are also driving the demand in the area.
Trends
Traditional methods of cargo shipping have been replaced by innovative methods. Traditional modes of transportation mainly involve the long-distance transportation of goods by rail. Goods can perish as a result of this mode of transport. Reefer containers have recently replaced temporary warehouses, as the former saves money on shipping and labour. The reefer container market is driven by low shipping costs, quick and simple goods transhipment, and quick terminal turnaround times. The increased use of reefer containers is also due to the need to protect goods from theft and spoilage. Companies are more interested in reducing their carbon footprint and creating a sustainable business model, which is why technology plays such an important role in driving demand for reefer containers. As a result, technologies are being developed that will enable brand owners and producers to implement such technologies during transportation and generate positive messaging around the product.
According to ASSOCHAM (The Associated Chambers of Commerce and Industry of India), India's packaged food market growth was projected to grow to USD 72.6 billion by 2020, up from USD 31.7 billion in 2015. This increase is due to an increase in the consumption of frozen foods, dairy goods, ready-to-cook/ready-to-eat foods, and bakery products, which creates a need for refrigerated transportation for the safe and effective transportation of these items.
Global Reefer Container Market Report Coverage
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 16.5 Billion |
Revenue Forecast in 2030 |
U.S.D. 24.6 Billion |
Growth Rate |
6.1% |
Segments Covered in the Report |
ByType of Product,ByType of Vehicle,By Temperature |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America,Europe,Asia-Pacific (APAC),Rest of the World (RoW) |
Market Drivers
The advent of real-time monitoring technology is a significant driving force in the reefer container industry. The transportation and logistics industry is undergoing significant changes, with real-time monitoring technology integration being a critical development. Furthermore, the industry is making extensive use of IoT, which is propelling the market forward. Remote Container Management, for example, from A.P. Moller - Maersk A/S allows for real-time GPS tracking of containers as well as recording and monitoring of reefer power status.
Multi-temperature system integration is also expected to provide growth opportunities for refrigerated transportation service providers and frozen and chilled food product manufacturers. Merchant shipping, which accounts for 90% of international trade and employs over 100,000 merchant vessels, is seen as critical to the economy's development.
Opportunity
Europe and Brazil are already experiencing shortages due to a lack of investment in the reefer segment of shipping, which could provide an incentive for new players to join the market and meet regional demand. Despite market volatility, demand for reefer containers is projected to rise significantly during the forecast period. This increase in demand can be traced back to international trade alliances established to meet customer demands. The reefer container market will be driven by an increase in demand for temperature-sensitive pharmaceuticals and chemicals in Southeast Asian countries and the growth of the Asian middle class, which is constantly demanding healthier food options.
Challenges
Since the use of the most up-to-date cooling technology is critical, one of the major problems facing the reefer container industry is a lack of suitable reefer containers. However, challenges such as product maintenance during transportation, a lack of infrastructure in developing countries, and rising fuel costs are expected to stifle market growth.
Key Players
• United Technologies
• Daikin Industries
• Ingersoll-Rand (THERMO KING)
• China International Marine Containers
• Utility Trailer
• Singamas Container
• Hyundai
• Schmitz Cargobull
• Fahrzeugwerk Bernard Krone
• Lamberet
• Nestle
• Tyson Foods
• The Kraft Heinz Company
• General Mills
• Smithfield Foods
• Kellogg Company
• Conagra Brands
• Kerry
• Del Monte
• Aryzta
Recent Developments
• Nestlé introduced its YES! snack bars in a new recyclable paper wrapper in July 2019. The launch promotes the use of recyclable paper packaging in the confectionery industry.
• Nestlé opened a new R&D centre in Beijing and a device technology hub in Shenzhen in March 2019. The business was able to drive trend-based innovation in China to meet customer demands thanks to the new R&D centre. In the field of systems, the system's centre increased cooperation with Chinese partners and suppliers.
• In February 2019, Kraft Heinz and Indo Nissin Foods (India) formed a distribution partnership to sell products such as Cup Noodles and Top Ramen Instant Noodles. The growth aided the company's distribution and availability of its global product range to Indian consumers.
The Reefer Container Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
Geographical Segmentation
Source: VynZ Research
Source: VynZ Research
1. Research Overview
1.1. The Report Offers
1.2. Market Coverage
1.2.1. By Application
1.2.2. By Product Type
1.2.3. By Material
1.3. Research Phases
1.4. Limitations
1.5. Research Methodology
1.5.1. Data Sources
1.5.1.1. Primary Research
1.5.1.2. Secondary Research
1.5.2. Methodology
1.5.2.1. Data Exploration
1.5.2.2. Forecast Parameters
1.5.2.3. Data Validation
1.5.2.4. Assumptions
1.5.3. Study Period & Data Reporting Unit
2. Executive Summary
3. Industry Overview
3.1. Industry Dynamics
3.1.1. Market Growth Drivers
3.1.2. Market Restraints
3.1.3. Key Market Trends
3.1.4. Major Opportunities
3.2. Industry Ecosystem
3.2.1. Porter’s Five Forces Analysis
3.2.2. Recent Development Analysis
3.2.3. Value Chain Analysis
3.3. Competitive Insight
3.3.1. Competitive Position of Industry Players
3.3.2. Market Attractive Analysis
4. Global Market Estimate and Forecast
4.1. Global Market Overview
4.2. Global Market Estimate and Forecast to 2030
5. Market Segmentation Estimate and Forecast
5.1. By Product Type
5.1.1. Food
5.1.1.1. Market Definition
5.1.1.2. Market Estimation and Forecast to 2030
5.1.2. Non- Food
5.1.2.1. Market Definition
5.1.2.2. Market Estimation and Forecast to 2030
5.2. By Vehicle Type
5.2.1. LCV
5.2.1.1. Market Definition
5.2.1.2. Market Estimation and Forecast to 2030
5.2.2. MHCV
5.2.2.1. Market Definition
5.2.2.2. Market Estimation and Forecast to 2030
5.2.3. HCV
5.2.3.1. Market Definition
5.2.3.2. Market Estimation and Forecast to 2030
5.3. By Temperature
5.3.1. Single Temperature
5.3.1.1. Market Definition
5.3.1.2. Market Estimation and Forecast to 2030
5.3.2. Multi Temperature
5.3.2.1. Market Definition
5.3.2.2. Market Estimation and Forecast to 2030
6. North America Market Estimate and Forecast
6.1. By Product Type
6.2. By Vehicle Type
6.3. By Temperature
6.4. By Country
6.4.1. U.S. Market Estimate and Forecast
6.4.2. Canada Market Estimate and Forecast
6.4.3. Mexico Market Estimate and Forecast
7. Europe Market Estimate and Forecast
7.1. By Product Type
7.2. By Vehicle Type
7.3. By Temperature
7.4. By Country
7.4.1. Germany Market Estimate and Forecast
7.4.2. France Market Estimate and Forecast
7.4.3. U.K. Market Estimate and Forecast
7.4.4. Italy Market Estimate and Forecast
7.4.5. Spain Market Estimate and Forecast
7.4.6. Russia Market Estimate and Forecast
7.4.7. Rest of Europe Market Estimate and Forecast
8. Asia-Pacific Market Estimate and Forecast
8.1. By Product Type
8.2. By Vehicle Type
8.3. By Temperature
8.4. By Country
8.4.1. China Market Estimate and Forecast
8.4.2. Japan Market Estimate and Forecast
8.4.3. India Market Estimate and Forecast
8.4.4. South Korea Market Estimate and Forecast
8.4.5. Rest of Asia-Pacific Market Estimate and Forecast
9. Rest of the World (RoW) Market Estimate and Forecast
9.1. By Product Type
9.2. By Vehicle Type
9.3. By Temperature
9.4 By Country
9.4.1. Brazil Market Estimate and Forecast
9.4.2. Saudi Arabia Market Estimate and Forecast
9.4.3. South Africa Market Estimate and Forecast
9.4.4. U.A.E. Market Estimate and Forecast
9.4.5. Other Countries Market Estimate and Forecast
10. Company Profiles
10.1. UNITED TECHNOLOGIES
10.1.1. Snapshot
10.1.2. Overview
10.1.3. Offerings
10.1.4. Financial Insight
10.1.5. Recent Developments
10.2. Daikin Industries
10.2.1. Snapshot
10.2.2. Overview
10.2.3. Offerings
10.2.4. Financial Insight
10.2.5. Recent Developments
10.3. Ingersoll-Rand (THERMO KING)
10.3.1. Snapshot
10.3.2. Overview
10.3.3. Offerings
10.3.4. Financial Insight
10.3.5. Recent Developments
10.4. China International Marine Containers
10.4.1. Snapshot
10.4.2. Overview
10.4.3. Offerings
10.4.4. Financial Insight
10.4.5. Recent Developments
10.5. Utility Trailer
10.5.1. Snapshot
10.5.2. Overview
10.5.3. Offerings
10.5.4. Financial Insight
10.5.5. Recent Developments
10.6. Singamas Container
10.6.1. Snapshot
10.6.2. Overview
10.6.3. Offerings
10.6.4. Financial Insight
10.6.5. Recent Developments
10.7. Hyundai
10.7.1. Snapshot
10.7.2. Overview
10.7.3. Offerings
10.7.4. Financial Insight
10.7.5. Recent Developments
10.8. Schmitz Cargobull
10.8.1. Snapshot
10.8.2. Overview
10.8.3. Offerings
10.8.4. Financial Insight
10.8.5. Recent Developments
10.9. Fahrzeugwerk Bernard Krone
10.9.1. Snapshot
10.9.2. Overview
10.9.3. Offerings
10.9.4. Financial Insight
10.9.5. Recent Developments
10.10. Lamberet
10.10.1. Snapshot
10.10.2. Overview
10.10.3. Offerings
10.10.4. Financial Insight
10.10.5. Recent Developments
10.11. Nestle
10.11.1. Snapshot
10.11.2. Overview
10.11.3. Offerings
10.11.4. Financial Insight
10.11.5. Recent Developments
10.12. Tyson Foods
10.12.1. Snapshot
10.12.2. Overview
10.12.3. Offerings
10.12.4. Financial Insight
10.12.5. Recent Developments
10.13. The Kraft Heinz Company
10.13.1. Snapshot
10.13.2. Overview
10.13.3. Offerings
10.13.4. Financial Insight
10.13.5. Recent Developments
10.14. General Mills
10.14.1. Snapshot
10.14.2. Overview
10.14.3. Offerings
10.14.4. Financial Insight
10.14.5. Recent Developments
10.15. Smithfield Foods
10.15.1. Snapshot
10.15.2. Overview
10.15.3. Offerings
10.15.4. Financial Insight
10.15.5. Recent Developments
10.16. Kellogg Company
10.16.1. Snapshot
10.16.2. Overview
10.16.3. Offerings
10.16.4. Financial Insight
10.16.5. Recent Developments
10.17. Conagra Brands
10.17.1. Snapshot
10.17.2. Overview
10.17.3. Offerings
10.17.4. Financial Insight
10.17.5. Recent Developments
10.18. Kerry
10.18.1. Snapshot
10.18.2. Overview
10.18.3. Offerings
10.18.4. Financial Insight
10.18.5. Recent Developments
10.19. Del Monte
10.19.1. Snapshot
10.19.2. Overview
10.19.3. Offerings
10.19.4. Financial Insight
10.19.5. Recent Developments
10.20. Aryzta
10.19.1. Snapshot
10.19.2. Overview
10.19.3. Offerings
10.19.4. Financial Insight
10.19.5. Recent Developments
11. Appendix
11.1. Exchange Rates
11.2. Abbreviations
List of Tables
Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Reefer Container Market Size, By Product Type, 2018–2023 (USD Billion)
Table 5 Global Reefer Container Market Size, By Product Type, 2025–2030 (USD Billion)
Table 6 Global Reefer Container Market Size, By Vehicle Type, 2018–2023 (USD Billion)
Table 7 Global Reefer Container Market Size, By Vehicle Type, 2025–2030 (USD Billion)
Table 8 Global Reefer Container Market Size, By Temperature, 2018–2023 (USD Billion)
Table 9 Global Reefer Container Market Size, By Temperature, 2025–2030 (USD Billion)
Table 10 Global Reefer Container Market Size, by Region, 2018–2023 (USD Billion)
Table 11 Global Reefer Container Market Size, by Region, 2025–2030 (USD Billion)
Table 12 North America Global Reefer Container Market Size, By Product Type, 2018–2023 (USD Billion)
Table 13 North America Global Reefer Container Market Size, By Product Type, 2025–2030 (USD Billion)
Table 14 North America Global Reefer Container Market Size, By Vehicle Type, 2018–2023 (USD Billion)
Table 15 North America Global Reefer Container Market Size, By Vehicle Type, 2025–2030 (USD Billion)
Table 16 North America Global Reefer Container Market Size, By Temperature, 2018–2023 (USD Billion)
Table 17 North America Global Reefer Container Market Size, By Temperature, 2025–2030 (USD Billion)
Table 18 North America Global Reefer Container Market Size, by Region, 2018–2023 (USD Billion)
Table 19 North America Global Reefer Container Market Size, by Region, 2025–2030 (USD Billion)
Table 20 Europe Global Reefer Container Market Size, By Product Type, 2018–2023 (USD Billion)
Table 21 Europe Global Reefer Container Market Size, By Product Type, 2025–2030 (USD Billion)
Table 22 Europe Global Reefer Container Market Size, By Vehicle Type, 2018–2023 (USD Billion)
Table 23 Europe Global Reefer Container Market Size, By Vehicle Type, 2025–2030 (USD Billion)
Table 24 Europe Global Reefer Container Market Size, By Temperature, 2018–2023 (USD Billion)
Table 25 Europe Global Reefer Container Market Size, By Temperature, 2025–2030 (USD Billion)
Table 26 Europe Global Reefer Container Market Size, by Region, 2018–2023 (USD Billion)
Table 27 Europe Global Reefer Container Market Size, by Region, 2025–2030 (USD Billion)
Table 28 Asia-Pacific Global Reefer Container Market Size, By Product Type, 2018–2023 (USD Billion)
Table 29 Asia-Pacific Global Reefer Container Market Size, By Product Type, 2025–2030 (USD Billion)
Table 30 Asia-Pacific Global Reefer Container Market Size, By Vehicle Type, 2018–2023 (USD Billion)
Table 31 Asia-Pacific Global Reefer Container Market Size, By Vehicle Type, 2025–2030 (USD Billion)
Table 32 Asia-Pacific Global Reefer Container Market Size, by Temperature, 2018–2023 (USD Billion)
Table 33 Asia-Pacific Global Reefer Container Market Size, by Temperature, 2025–2030 (USD Billion)
Table 34 Asia-Pacific Global Reefer Container Market Size, by Region, 2018–2023 (USD Billion)
Table 35 Asia-Pacific Global Reefer Container Market Size, by Region, 2025–2030 (USD Billion)
Table 36 RoW Global Reefer Container Market Size, By Product Type, 2018–2023 (USD Billion)
Table 37 RoW Global Reefer Container Market Size, By Product Type, 2025–2030 (USD Billion)
Table 38 RoW Global Reefer Container Market Size, By Vehicle Type, 2018–2023 (USD Billion)
Table 39 RoW Global Reefer Container Market Size, By Vehicle Type, 2025–2030 (USD Billion)
Table 40 RoW Global Reefer Container Market Size, By Temperature, 2018–2023 (USD Billion)
Table 41 RoW Global Reefer Container Market Size, By Temperature, 2025–2030 (USD Billion)
Table 42 RoW Global Reefer Container Market Size, by Region, 2018–2023 (USD Billion)
Table 43 RoW Global Reefer Container Market Size, by Region, 2025–2030 (USD Billion)
Table 44 Snapshot–UNITED TECHNOLOGIES
Table 45 Snapshot–Daikin Industries
Table 46 Snapshot–Ingersoll-Rand (THERMO KING)
Table 47 Snapshot–China International Marine Containers
Table 48 Snapshot–Utility Trailer
Table 49 Snapshot–Singamas Container
Table 50 Snapshot–Hyundai
Table 51 Snapshot–Schmitz Cargobull
Table 52 Snapshot–Fahrzeugwerk Bernard Krone
Table 53 Snapshot–Lamberet
Table 54 Snapshot–Nestle
Table 55 Snapshot–Tyson Foods
Table 56 Snapshot–The Kraft Heinz Company
Table 57 Snapshot–General Mills
Table 58 Snapshot–Smithfield Foods
Table 59 Snapshot–Kellogg Company
Table 60 Snapshot–Conagra Brands
Table 61 Snapshot–Kerry.
Table 62 Snapshot–Del Monte
Table 63 Snapshot–Aryzta
List of Figures
Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Agricultural Micronutrients Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Reefer Container Market Highlight
Figure 12 Global Reefer Container Market Size, By Product Type, 2018 - 2030(USD Billion)
Figure 13 Global Reefer Container Market Size, By Vehicle Type, 2018 - 2030(USD Billion)
Figure 14 Global Reefer Container Market Size, By Temperature, 2018 - 2030(USD Billion)
Figure 15 Global Reefer Container Market Size, by Region, 2018 - 2030(USD Billion)
Figure 16 North America Global Reefer Container Market Highlight
Figure 17 North America Global Reefer Container Market Size, By Product Type, 2018 - 2030(USD Billion)
Figure 18 North America Global Reefer Container Market Size, By Vehicle Type, 2018 - 2030(USD Billion)
Figure 19 North America Global Reefer Container Market Size, By Temperature, 2018 - 2030(USD Billion)
Figure 20 North America Global Reefer Container Market Size, by Region, 2018 - 2030(USD Billion)
Figure 21 Europe Global Reefer Container Market Highlight
Figure 22 Europe Global Reefer Container Market Size, By Product Type, 2018 - 2030(USD Billion)
Figure 23 Europe Global Reefer Container Market Size, By Vehicle Type, 2018 - 2030(USD Billion)
Figure 24 Europe Global Reefer Container Market Size, By Temperature, 2018 - 2030(USD Billion)
Figure 25 Europe Global Reefer Container Market Size, by Region, 2018 - 2030(USD Billion)
Figure 26 Asia-Pacific Global Reefer Container Market Highlight
Figure 27 Asia-Pacific Global Reefer Container Market Size, By Product Type, 2018 - 2030(USD Billion)
Figure 28 Asia-Pacific Global Reefer Container Market Size, By Vehicle Type, 2018 - 2030(USD Billion)
Figure 29 Asia-Pacific Global Reefer Container Market Size, By Temperature, 2018 - 2030(USD Billion)
Figure 30 Asia-Pacific Global Reefer Container Market Size, by Region, 2018 - 2030(USD Billion)
Figure 31 RoW Global Reefer Container Market Highlight
Figure 32 RoW Global Reefer Container Market Size, By Product Type, 2018 - 2030(USD Billion)
Figure 33 RoW Global Reefer Container Market Size, By Vehicle Type, 2018 - 2030(USD Billion)
Figure 34 RoW Global Reefer Container Market Size, By Temperature, 2018 - 2030(USD Billion)
Figure 35 RoW Global Reefer Container Market Size, by Region, 2018 - 2030(USD Billion)
Global Agricultural Micronutrients Market Coverage
Product Type Insight and Forecast 2025-2030
Vehicle Type Insight and Forecast 2025-2030
Temperature Insight and Forecast 2025 - 2030
Geographical Segmentation
Global Agricultural Micronutrients Market by Region
North America
Europe
Asia-Pacific (APAC)
Rest of the World (RoW)
Vynz Research know in your business needs, you required specific answers pertaining to the market, Hence, our experts and analyst can provide you the customized research support on your specific needs.
After the purchase of current report, you can claim certain degree of free customization within the scope of the research.
Please let us know, how we can serve you better with your specific requirements to your research needs. Vynz research promises for quick reversal for your current business requirements.