For many decades, maritime transport has served as a crucial means of moving goods for people worldwide. Notably, around 23% of international trade occurs between neighboring countries, highlighting the significance of sea transport in global commerce. As household incomes rise, there is an increasing demand for high-quality products, which in turn drives the need for containerized refrigerated transport solutions to satisfy the needs of various households and regions. The growing appetite for fresh produce and other essential commodities around the world has created a new paradigm for efficient and cost-effective shipping, enabling quicker transit times between ports.
Manufacturers are consistently investing in enhancing container infrastructure to align with the evolving demands of global trade. Specialized refrigerated containers have been losing market share to containerized reefers, primarily due to the advancements in the technology and facilities associated with containerized refrigeration. As a result of these factors, the overall market volume for refrigerated sea transport is projected to increase from 2.35 million TEUs in 2014 to 3.46 million TEUs by 2020, reflecting a compound annual growth rate (CAGR) of 6.7%.
However, the global market for refrigerated sea transport containers faces certain challenges, including rising costs associated with specialized reefers and inconsistent distribution channels that can affect transportation operational expenses. Despite these challenges, the ongoing improvements in containerized reefer infrastructure have opened new avenues for the market. The demand for containerized reefers has surpassed that of specialized reefer containers in recent years, a trend that is anticipated to persist as the gap between transportation needs and increasing reefer costs continues to narrow.
The refrigerated sea transport containers market is categorized by type, specifically into containerized reefers and specialized reefers. Additionally, the market is segmented based on the types of commodities transported, which include pharmaceuticals, seafood, fresh produce, meat, and other goods. Geographically, the refrigerated sea transport containers market has been analyzed across various regions, including North America, Europe, Asia-Pacific (APAC), Latin America (SAM), and the Middle East & Africa (MEA). Among these regions, China stands out as a dominant player in the manufacturing of sea transport containers, largely due to its significant import and export activities with regions such as Europe and the Americas. Meanwhile, South America is emerging as a rapidly growing market, with a notable growth rate in recent years, supported by investments from key industry players.
Some of the leading companies in the refrigerated sea transport containers market include CMA CGM, Evergreen, NYK Line, K-Line Shipping, China Shipping Containers Line Co Ltd, Hanjin Shipping Co., Ltd, Hapag-Lloyd, and Kling Corporation, among others. These companies are instrumental in shaping the future of refrigerated sea transport, as they adapt to the changing demands of global trade and consumer preferences.