Integration of Modern Technologies in Chassis to Provide Growth Opportunities for 40-Foot Container Chassis Market During 2023–2028
According to our latest study on " 40-Foot Container Chassis Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Axle and Type," the market is expected to grow from US$ 1,279.41 million in 2023 to US$ 1,930.69 million by 2028; it is estimated to register a CAGR of 8.6% from 2023 to 2028.
Regulatory bodies and regulations such as the Federal Motor Carrier Safety Administration (FMCSA), Container Safety Certificate (CSC), and the International Organization for Standardization (ISO) have a strong influence on the manufacturing and sale of container chassis. In February 2021, Federal Motor Carrier Safety Administration (FMCSA) enforced its Intermodal Chassis rule that requires intermodal equipment providers (IEPs), motor carriers, and drivers to share responsibility for the safety of intermodal equipment used on highways. Further, government investments in highway and road infrastructure to enhance the quality of roads, railroads, ports, and air transport are anticipated to trigger the demand for container chassis in the coming years. An improved transportation infrastructure would boost logistics operations in commercial and industrial sectors, thereby aiding in the secure and timely delivery of goods and services. In March 2023, the provincial government of Newfoundland and Labrador announced an investment of ~US$ 1.4 billion to enhance road and highway transportation infrastructure over the next five years. In March 2023, the UK government announced plans to invest ~US$ 43.50 (GBP 40) billion in transformational transport schemes across the country over the next two years. 40-foot container chassis are used in commercial and industrial transportation. Thus, government investments to boost the commercial and industrial segments of economies by improving road and highway infrastructure are projected to offer promising growth opportunities for the 40-foot container chassis market during the forecast period.
40-Foot Container Chassis Market – by Region, 2022
40-Foot Container Chassis Market Forecast to 2028 - Global Analysis By Axle (2-axles, 3-axles, and 4-axles) and Type (Gooseneck Type, Flip-Up Rear Bolster, Straight Frame Type, and Drop Frame)
40-Foot Container Chassis Market Size Report and Growth Analysis 2028
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Source: The Insight Partners Analysis
The US government has imposed duties of ~200% to halt the imports of chassis from China. Further, a surge in the volume of freight continues to outstrip the supply of chassis and the availability of containers and laborers at ocean and rail hubs. This imbalance has forced shippers to hold on to their chassis units longer than the usual 3–5 days, further limiting the supply. However, the US government is implementing policies to ramp up the domestic production of chassis. Thus, the current shortage of chassis is anticipated to accelerate the domestic manufacturing of 40-foot container chassis in the US in the coming years.
The 40-foot container chassis market is segmented based on axle, type, and geography. In terms of axle, the market is categorized into 2-axles, 3-axles, and 4-axles. Based on type, the 40-foot container chassis market is segmented into gooseneck type, flip-up rear bolster, straight frame type, and drop frame type.
By geography, the 40-foot container chassis market is segmented into five key regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Asia Pacific is expected to dominate the market during the forecast period (2023–2028), followed by North America and Europe. The 40-foot container chassis market growth in Europe is attributed to the rise in trading activities at ports. Also, significant investments made by the European government for the port expansion are driving the trade activities at ports, further boosting the 40-foot container chassis market growth. Moreover, the Europe 40-foot container chassis market is growing at a large scale due to a rise in e-commerce sales across Europe. According to Ecommerce Europe, the Europe e-commerce sector grew by 13% in 2021 compared to 2020. Thus, the rising e-commerce sector is propelling the demand for large containers to transport goods, further boosting the requirement for 40-foot container chassis.
Major 40-foot container chassis market players include Chassis King Inc, Fliegl Fahrzeugbau GmbH, Cheetah Chassis Corp, Triton International Ltd, Karl Kassbohrer Fahrzeugwerke GmbH, CIE Manufacturing, Schmitz Cargobull AG, Panda Mechanical Co Ltd, Panus Assembly Co Ltd, and Pro-Haul Manufacturing Inc.
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