Under the size segment, the 40-feet reefer containers are projected to experience the highest CAGR in the coming future. It is their design that makes them highly suitable for carrying voluminous cargo, instead of heavy cargo.

In addition, the cost of 40-foot containers and 20-foot containers is similar, ranging between $7,500 to $8,500. Therefore, the higher capacity and a little difference between containers’ costs are projected to result in the high usage of 40-foot containers in the coming years.

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Under the transportation mode segment, the seaways category captures an extensive share of the reefer container industry, and it is projected to retain its position in the coming years. It is ascribed to the fact that 90% of international trade is conducted by over 100,000 commercial ships. Therefore, barges are often utilized for carrying a large volume of cargo on canals, and rivers.

Under the industry segment, the pharmaceutical sector is projected to experience the highest CAGR in the near future. It is led by increasing biologics demand, along with the surging requirement for temperature-controlled containers for storage and transportation of vaccines, cellular therapies, and blood products.

APAC holds the largest share of the reefer container industry, and it is projected to retain its dominance in the coming years. It is ascribed to the worldwide rising seaborne perishable reefer cargo trade, along with technological advancements in reefer containers. In addition, all the major countries of APAC have numerous inland ports and seaports, as well as the region is experiencing the rapid urbanization which results into growing trade volume.

Furthermore, the shipping and transportation of food items are rising in the LATAM. The region is also witnessing rapid urbanization. Therefore, the region is predicted to experience the fastest growth in the near future.

The temperature-sensitive pharmaceutical drugs are needed to be transported and stored in a controlled environment, in order to maintain their safety and efficacy.
The enhanced technology of the reefer container and reduced shipping cost has resulted in increased overseas trading by pharmaceutical players.

Moreover, the rising number of trade routes expands reefer containers’ demand. A trade route can be defined as a logistical network of stoppages, and pathways that enable the commercial transportation of cargo. These trade routes allow goods to reach far-away markets. A single-trade route consists of long-distance arteries that are further connected to numerous smaller transportation routes, commercial and non-commercial.

The major players in the industry are A.P. Moller-Maersk A/S, China International Marine Containers (Group) Co. Ltd., Triton International Ltd., Hapag-Lloyd AG, Ocean Network Express (ONE) Pte. Ltd., Seaco Srl, Singamas Container Holdings Ltd., and ZIM Integrated Shipping Services Ltd.

Therefore, the sales of reefers are rising due to the growing demand for pharmaceutical drugs, and an increasing number of trade routes.

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