Refrigerated Sea Transport Containers Market Size Trends, & Forecast 2020

Refrigerated Sea Transport Containers Market to 2020 - Global Analysis and Forecasts by Type (Containerized Reefers and Specialized Reefers), by Segments (Pharmaceuticals, Sea Food, Fresh Produce, Meat and Others)

Publication Month : Nov 2016

  • Report Code : TIPTE100000202
  • Category : Manufacturing and Construction
  • Status : Published
  • No. of Pages : 180
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[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

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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

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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.


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Refrigerated Sea Transport Containers Market: Strategic Insights

refrigerated-sea-transport-containers-market
Market Size Value inUS$ 2.13 Billion in 2015
Market Size Value byUS$ 3.25 Billion by 2025
Growth rateCAGR of 8.8% from 2015 to 2020
Forecast Period2015-2020
Base Year2015
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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.

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)
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type, Segments

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

The List of Companies

  1. CMA CGM
  2. NYK Line
  3. China Shipping Container Lines
  4. Kling Group
  5. ZIM Integrated
  6. Orient Overseas Container Line
  7. Compañía Sud Americana de Vapores (CSAV)
  8. Hanjin Shipping Co., Ltd
  9. Mitsui O.S.K. Lines, Ltd
  10. Evergreen Marine Corp
  11. China International Marine Containers (Group) Co. Ltd
  12. Hapag Lloyd AG
  13. Hamburg süd Group
  14. APL
  15. “K” Line Group

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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