Refrigerated Sea Transport Containers Market Segments and Growth by 2025

[Research Report] The Refrigerated Sea Transport Containers Market accounted for US$ 2.13 Bn in 2015 and is expected to grow at a CAGR of 8.8% during the forecast period 2015 - 2020, to account for US$ 3.25 Bn in 2020.

The refrigerated sea transport containers market has experienced significant growth and adoption rate in the past few years and is expected to experience notable growth and adoption in years to come. Refrigerated sea transportation deals with import and export of fresh foods, meat, flowers, pharmaceuticals, etc., between different regions across the globe. The growing demand for these commodities have set new dimension to the refrigerated transportation industry. As Sea transport being one of the economical and convenient mode of trade between nations and have been followed since decades, refrigerated sea transport is expected to grow in terms of container volumes through the forecast period. Europe refrigerated sea transport containers market region is expected to witness a CAGR growth rate of XX% in the coming years.

 Refrigerated Sea Transport Containers Market by Region

Market Insights

Low Cost Mode of Transportation

International shipping connects railways, roads and inland waterways via costal and ocean routes thus, providing an enhanced mode of transportation of goods in which the logistics provider or shipper has certain degree of choice for moving freight between different locations. The choice of mode includes balancing tradeoffs to enable trade between various nations. In today’s economy, challenging factors include cost, reliability and time of delivery. For sensitive cargoes, faster mode of delivery is preferred than low cost modes. This is impacting positively on refrigerated sea transport containers market. Although, low cost modes of transportation particularly, containerized shipping often carry large quantity of cargoes along with a proper planning to meet the need of inventory on time. The low cost mode is diving the refrigerated sea transport containers market. Also, for many trade routes, sea transport is the only mode of transport available as there is no other mode of transport that can directly reach the location. This factor is heavily boosting the refrigerated sea transport containers market.

Privatization of Sea Ports

About 90 percent of the commodity and merchandise trade worldwide is transported through ocean route or sea trade, and sea ports plays an important part in the transportation, offloading, uploading and other activities performed in the process of transportation. While, the percent for the transportation remained constant over years, there has been a rapid increase in the volumes of the commodities transported. One of the crucial issue faced by the sea transport companies is dealing with the inefficiency of ports. The privatization of ports has given a new opportunity to the marine lines by increasing the efficiency of the ports. Due to budget deficits and rising in demand for services, many governments are encouraging the privatization of sea ports and are looking for foreign direct investments for the same. Thus, the increase in privatization of sea ports in the coming years is anticipated to bolster the refrigerated sea transport containers market.

Refrigerated Sea Transport Containers Market – Type Insight

Based on the types, refrigerated sea transport containers market is categorized into containerized reefer and specialized reefer. Transportation of perishable commodities through ships demand for special upkeep, as they poses the threat of getting spoiled during the transit period. Therefore, the perishable goods including, fruits, vegetables, dairy products, chemicals and so forth are transported in a specialized ships that are equipped with temperature controlling features. These ships are known as reefers ships, which are another species of ships, unlike the commonly used types. Reefer containers is a more popular kind of refrigerating cargo as it has its own independent refrigeration systems and require only the power supply that is provided by the ship generators. In recent years there has been an expansion in the share of global reefer trade by all the chief container lines that are penetrating deeply into the market, which was once majorly controlled by specialized reefer containers. This factor is expected to have positive impact on refrigerated sea transport containers market. Novel container designs and technologies are escalating the carriers like Maersk as they pertain to create their business of containerized reefer Thus, the containerized reefer segment in refrigerated sea transport containers market is projected to provide numerous lucrative business opportunities for the market players in the forecast period.

 Refrigerated Sea Transport Containers Market by Containerized Reefer

Refrigerated Sea Transport Containers Market – Segment Insight

Based on the segment, refrigerated sea transport containers market is categorized into pharmaceutical, seafood, fresh products, meat, and others. Looking at the rising number of countries concentrate their export economy surrounding the food and produce production, demand for maintaining the freshness of these food for a prolonged periods has gained in importance owing to the health and commercial reasons. Thus, innovations in packaging, fruit and vegetable coatings, bioengineering, and other techniques are introduced in order to reduce the deterioration of food products that have facilitated shippers extend the reach of perishable products. For food products such as fruits and vegetables, time has a direct impact on their shelf life and therefore on the potential revenue a consignment may generate. Hence, the demand for natural and fresh foods in contrast with the frozen and shelf-stable food has been surging continuously over the years, leading to rise in demand for more efficient reefer vessels subsequently fueling the growth of refrigerated sea transport. Thus, the fresh product segment in refrigerated sea transport containers market is projected to provide numerous lucrative business opportunities for the market players in the forecast period.

Published Report - Refrigerated Sea Transport Containers Market: Strategic Insights

The market initiative and new development was observed as the most adopted strategy in global refrigerated sea transport containers market. Few of the recent strategies by some of the players operating in refrigerated sea transport containers market landscape are listed below-

• 2016: CMA CGM launched a new container AQUAVIVA for transporting live lobsters. The company developed the product jointly with EMYG Environment & Aquaculture
• 2016: Maersk line ordered 14800 new reefer containers in 2016. All the reefers has inbuilt RCM technology that will enable the company to deliver its customers an improved supply chain visibility.
• 2015: CMA CGM announced TRAXENS technology equipped first container ship, CMA CGM BOUGAINVILLE.  With the help of TRAXENS technology, the containers can be transformed to smart connected objects
• 2015: NYK ordered 5,000 40-foot technologically advanced reefer containers. This includes 700 CA (Controlled atmosphere) containers.

Refrigerated Sea Transport Containers

Published Report - Refrigerated Sea Transport Containers Market Players Density: Understanding Its Impact on Business Dynamics

The Published Report - Refrigerated Sea Transport Containers Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

GLOBAL REFRIGERATED SEA TRANSPORT CONTAINER MARKET – SEGMENTATION

Global Refrigerated Sea Transport Market – By Types

• Containerized Reefer
• Specialized Reefer

Global Refrigerated Sea Transport Market – By Segments

• Pharmaceuticals
• Sea Food
• Fresh Produce
• Meat
• Others

Global Refrigerated Sea Transport Market – By Geography

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • U.K.
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • Sri Lanka
  • Bangladesh
• Middle East & Africa (MEA)
  • Saudi Arabia
  • U.A.E
  • South Africa
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Rest of SAM

Refrigerated Sea Transport Container Market - Company Profiles

• CMA CGM S.A.
• Maersk Line
• FSC FRIGOSHIP CHARTERING GmbH
• Nippon Yusen Kabushiki Kaisha (NYK Line)
• SEATRADE REEFER CHARTERING N.V.
• Africa Express Line Ltd.
• China Shipping Container Lines Co. Ltd.
• KLINGE CORPORATION
• STAR Reefers
• Korea Marine Transport Co. Ltd
• BLPL Singapore Pte Ltd
• ZIM INTEGRATED SHIPPING SERVICES LTD.
• Orient Overseas Container Line Limited.
• MAESTRO SHIPPING SA
• Compañía Sud Americana de Vapores (CSAV)
• HANJIN SHIPPING CO., LTD.
• MITSUI O.S.K. LINES, LTD.
• EVERGREEN MARINE CORP. (TAIWAN) LTD. (EVERGREEN LINE)
• China International Marine Containers (Group) Co., Ltd.
• Hapag-Lloyd AG
• SEACUBE CONTAINER LEASING LTD.
• Yang Ming Marine Transport Corp.
• Mediterranean Shipping Company S.A
• KYOWA SHIPPING CO., LTD.
• GEEST LINE LIMITED
• Hamburg süd Group
• United Arab Shipping Company (S.A.G)
• APL
• KAWASAKI KISEN KAISHA, LTD. (“K”LINE Group)