The smart reefer container market was valued at US$ 823.81 million in 2018 and is projected to reach US$ 1,665.35 million by 2027; it is expected to grow at a CAGR of 8.5% during 2019–2027.

Reefer containers are refrigerated shipping containers that are utilized for storing or transporting cold or frozen goods, perishable goods which require temperature control. These containers are becoming smart with the integration of telematics devices that offer real time monitoring and tracking, thus facilitating the operators to increase turn time of their containers for further planning and utilization. Smart reefer containers are developed using wide range of sensors such as, temperature, pressure, humidity and others that help in monitoring and controlling environmental conditions. Moreover, the market players are increasingly focusing on adopting advanced technologies such as IoT, artificial intelligence, big data analytics and others to offer high performance solutions for the logistics service providers as well as end-use industries to increase their operation efficiency and provide more visibility in the entire supply chain market.

Smart reefer container market is witnessing significant market initiatives among the industry players to meet the growing demand across the globe. For instance, recently Traxens expanded its presence in in China by opening new office in order to meet requirements of growing Asian supply chain market. Further, in 2019, ZIM Integrated Shipping invested significant amount in developing advanced feature to its existing refrigerated containers, ZIMonitor, by adding star cool units that are manufactured by MCI. In the same year, Traxens and A.P. Moller – Maersk announced that Maersk is aiming to join CMA CGM and MSC Mediterranean Shipping Company as a key shareholder and customer of Traxens. Furthermore, in 2018, ORBCOMM Inc. introduced next-generation solution for remote monitoring and control of refrigerated containers travelling by sea, land, or rail for continuous visibility of operations, enhanced efficiency and reduced costs. All these initiatives are boosting the growth of the market in the current scenario.

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Smart Reefer Container Market: Strategic Insights

Smart Reefer Container Market

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  CAGR (2018 - 2027)

  8.5%
• Market Size 2018
  US$ 823.81 Million
• Market Size 2027
  US$ 1,665.35 Million

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• Arviem AG
• Globe Tracker, ApS
• Hapag-Lloyd AG
• Maven Systems Pvt. Ltd.
• Nexxiot AG
• ORBCOMM Inc.
• Thermo King Corporation
• Tracker Systems, Inc
• Traxens

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Offering

• Hardware
• Software
• Services

Technology

• GPS
• Cellular
• Long Range Wide Area Network
• Bluetooth Low Energy

Reefer

• 10GP
• 20GP
• 40GP
• 40HQ
• 45HQ

Industry Vertical

• Food and Beverages
• Pharmaceutical
• Oil and Gas
• Chemicals
• Military and Defense
• Others

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Market Insights–Smart Reefer Container Market 

Shipment Digitization in Combination with Supportive Programs

Many of the ocean carriers that have already started using smart reefer containers have built alliances with technology companies to digitalize their fleets. In April 2019, the Digital Container Shipping Association (DCSA) was launched to shape the future of container shipping by building standardization, creating the frameworks for effective solutions, as well as exploring opportunities for innovation. The Association is currently supported by several carriers, including Maersk, Hapag Lloyd, CMA CGM, ZIM, and Evergreen Line, among others. Presently, the full Association membership is currently accountable for ~70% of the global container shipping trade.

In June 2019, Indonesian firm PT Trans Kontainer Solusindo partnered with Traxens to deploy its smart reefer containers with tracking telematics technology. Also, in December 2019, Hamburg Süd unveiled Remote Container Management (RCM) technology for reefer container shipments. In June 2019, Hapag-Lloyd announced to deploy Globe Tracker hardware on the company’s fleet of 100,000 reefer containers under a new “Hapag-Lloyd LIVE” offering. Furthermore, in February 2019, Maersk Line announced “Captain Peter,” a virtual assistant intended to simplify data management from its RCM platform. Also, Hamburg Süd installed RCM under a contract with ORBCOMM. Also, ZIM announced to receive delivery of 3,000 smart reefer containers during 2019.

Apart from shipping carriers and technology companies dedicated to the development and use of smart containers, the digitalization of port operations along with the adoption of Industry 4.0 in the container-handling sector is supporting the growth of the smart reefer container market. In 2019, the European Commission launched iTerminals 4.0, a project dedicated to the digitization of port operations as well as the adoption of innovative technologies across European ports. The project is focused on discovering ways to apply industry 4.0 technologies in the container handling sector. Also, We Are Container 42, an innovation, research, as well as serendipity platform initiated by Port of Rotterdam, for stakeholders in the shipping, ports, and associated technologies, have created a single connected container to demonstrate the Internet of Things (IoT) technology for cargo tracking. The factors mentioned above are expected to propel the growth of the smart reefer containers market during the forecast period.

Offering Segment Insights

A refrigerated container or reefer is a container, used for shipping of temperature-sensitive cargo. These containers have one or multiple temperature chambers. The smart reefer container is container which is automated with the help of various technologies. The market is segmented by Offerings, technology, reefer, and industry vertical. By Offering the market is segregated into hardware, software, and services. Further, the hardware segment is segregated into pressure sensors, temperature sensors, humidity sensors, gas sensors, position sensors, and others.

Technology Segment Insights

Refrigerated containers are mostly in-transit time at sea, where managing them poses a series of challenges. Crews are often unable to complete regular checks because of heavy workloads, unfavorable sea and weather conditions and the size of the vessels themselves. The need for end-to-end visibility of the moving supply chain is prompting IoT technology to close the connectivity gap for reefer containers on water. The factors such as need for end-to-end visibility, pre-trip inspections, cargo care, crew safety are increasing the demand for various technologies in the reefer container systems. The various technologies used are GPS, cellular, long range wide area network, Bluetooth low energy (BLE), among others.

Reefer Insights

Reefer containers’ is short for refrigerated containers – one of the six types of shipping containers used in freight forwarding. They look almost identical to regular containers but function as large fridges that can control the temperature of their cargo. This makes them ideal for transporting goods such as pharmaceuticals, fruits, meat, fish and flowers. There are variety of reefers available including, 10GP, 20GP, 40GP, 40HQ, 45HQ.

Industry Vertical Insights

The smart reefer container market is categorized on basis of industry vertical as food & beverages industry, chemical industry, pharmaceutical industry, oil & gas industry, military & defense industry, and others. The food processing industries contributed the maximum revenue shares in 2017 in the region, pertaining to the rapid surging demand for frozen foods, chilled-ready meats, confectioneries, breweries, and liquid milk processing among the North American mass. The US is one of the largest consumers of packaged foods and frozen food followed by developed countries in the Europe. Also, other regions of the world such as Middle East, and the developing economies of APAC exhibit changing patterns in the demand of packaged food and food products. The meat processing as well as dairy industry in these emerging economies has experienced a paradigm shift as a result of the rising demands and increasing individual spends. Owing to the demand from the mass, the demand for smart reefer container in food processing industry is constantly increasing over the years. The demand for smart reefer container is escalating at a decent rate among the chemical & pharmaceutical industry globally, thereby leading the global market to propel. Also, the increasing demand for automated systems in these industries is expected to boost the demand for smart reefer containers.

The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.

• 2020: Traxens announced that it would open a representative office in Shenzhen, China – its first office outside of France – to respond to the increasing need for more Asian exposure and local support for its global customers, In line with its international expansion strategy.

• 2019: Nexxiot would equip VTG's entire tank container fleet with IoT sensors. The tank containers would be equipped with the Globehopper sensors developed by the company so that they can be located and monitored worldwide.

• 2019: Globe Tracker International and CakeBoxx Technologies announced their strategic partnership. Under the agreement, the companies would combine service and product offerings to supply the global shipping market with a pre-configured, off-the-shelf secure container/asset tracking solution.

Smart Reefer Container Market Report Scope

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GLOBAL SMART REEFER CONTAINER MARKET SEGMENTATION

Global Smart Reefer Container Market – By Offerings

• Hardware
• Pressure Sensors
• Temperature Sensors
• Humidity Sensors
• Gas Sensors
• Position Sensors
• Others
• Software
• Service

Global Smart Reefer Container Market – By Technology

• GPS
• Cellular
• Long Range Wide Area Network
• Bluetooth Low Energy (BLE)
• Others

Global Smart Reefer Container Market – By Reefer

• 10GP
• 20GP
• 40GP
• 40HQ
• 45HQ

Global Smart Reefer Container Market – By End-User Industry

• Food & Beverage
• Pharmaceutical
• Oil & Gas
• Chemicals
• Military & Defense
• Others

Global Smart Reefer Container Market - By Geography

• North America

• U.S.
• Canada
• Mexico

• Europe

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe

• Asia Pacific (APAC)

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

• Middle East & Africa (MEA)

• South Africa
• UAE
• Saudi Arabia
• Rest of MEA

• South America (SAM)

• Brazil
• Argentina
• Rest of SAM

Global Smart Reefer Container Market - Company Profiles

• ORBCOMM Inc.
• Wireless Links Inc.
• Traxens
• Globe Tracker, ApS
• Hapag-Lloyd AG
• Nexxiot AG
• Maven Systems Pvt. Ltd.
• AikSphere Technologies Inc.
• Tracker Systems, Inc.
• Thermo King Corporation
• Arviem AG
• Sealand - A Maersk Company