Reefer Market by Temperature, Technology, Size, Transportation Mode, End-Use

List of Tables

[194 Pages Report] The Reefer Market size was estimated at USD 15.07 billion in 2023 and expected to reach USD 15.72 billion in 2024, at a CAGR 4.40% to reach USD 20.38 billion by 2030.

Reefer refers to a refrigerated shipping container that transports perishable goods that require temperature control. These goods include a wide range of products such as food items, pharmaceuticals, and other temperature-sensitive cargo. Reefers are designed to maintain specific temperature and humidity levels inside the container, ensuring that the goods are transported in optimal conditions to preserve their quality and freshness and prevent spoilage during transit. The growing global population and rising consumer preferences for fresh and exotic foods have led to increased demand for reefer transport. Additionally, increased international trade has amplified the demand for refrigerated transport solutions. However, the cost associated with operating and maintaining reefers, including energy expenses, can be significant. Furthermore, innovations in refrigeration techniques and container design enhance efficiency and reliability, making reefers an attractive option for shippers. Additionally, the integration of advanced tracking and monitoring technologies coupled with the rising deployment of multi-temperature systems in trucks and trailers poses significant opportunities to the market.

KEY MARKET STATISTICS
Base Year [2023]	USD 15.07 billion
Estimated Year [2024]	USD 15.72 billion
Forecast Year [2030]	USD 20.38 billion
CAGR (%)	4.40%

Technology: Growing preferences of cryogenic systems for short-term and rapid cooling needs

Cryogenic systems for reefers utilize liquefied gasses, such as nitrogen or carbon dioxide, to maintain the required low temperatures. These systems achieve cooling by evaporating the liquefied gas inside the container, which absorbs heat from the cargo area, thus reducing the temperature. Cryogenic systems are particularly chosen for their rapid cooling capabilities and for transportation where electricity might not be consistently available. Vapor compression systems are the common refrigeration system used in reefer containers. These systems work on the principle of a refrigeration cycle involving the compression, condensation, expansion, and evaporation of a refrigerant. Electrically powered, they offer precise temperature control and can maintain a consistent climate for prolonged periods. Vapor compression systems are chosen for their reliability and efficiency in maintaining specific temperatures over long distances, and vapor compression systems are preferred for the transportation of perishable goods, including vegetables, fruits, and pharmaceuticals, which require strict temperature control.

End-Use: Expansion of food & beverage and pharmaceutical sector boosts the demand of reefer

The agricultural sector relies heavily on reefers to transport perishable goods, including fruits, vegetables, and flowers. The primary need here is temperature control and efficient logistic solutions to prevent spoilage and ensure products reach markets in optimal condition. Chemicals, especially those sensitive to temperature, require strict temperature adherence to prevent degradation or potential danger. Reefers are essential for ensuring safety and integrity during transport. The food & beverage sector needs reefers to preserve the freshness and quality of perishable items, including dairy products, meat, and frozen foods. The demand here emphasizes temperature control, hygiene, and cross-contamination prevention. The pharmaceutical industry's reliance on reefers is arguably the most critical, given the high value and sensitivity of its products. Vaccines, biologics, and temperature-sensitive drugs require stringent temperature control, often within tighter tolerances than other sectors.

Regional Insights

The United States and Canada represent a significant portion of the Americas' reefer market, driven by robust agricultural sectors and high consumer demand for fresh food products. Technological advancements in reefer equipment, coupled with stringent food safety regulations, underscore the market growth in these countries. Investment in logistics and transportation infrastructure, particularly in port facilities and rail networks, supports efficient reefer operations. In European countries, stringent regulations on food safety and environmental sustainability push the adoption of advanced reefer solutions. The emphasis on reducing carbon emissions influences the market towards electrification and renewable energy sources for reefer operations. The Middle East, with its harsh climatic conditions and reliance on food imports, prioritizes innovations in reefer technology to maintain food quality during transit. Africa, albeit at a nascent stage in cold chain development, shows potential for growth with increasing investments in infrastructure and initiatives to connect small-scale farmers to international markets. The Asia-Pacific region exhibits rapid growth in the reefer market, facilitated by burgeoning middle-class populations, rising disposable incomes, and evolving dietary preferences leaning toward fresh and frozen food products. China stands out as a significant player, with investments in cold chain infrastructure and technology to support its vast export and import needs. Japan and India also showcase dynamic growth, driven by technological integration for efficient reefer operations and government initiatives aimed at reducing food wastage and improving food safety standards.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Reefer Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Reefer Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Reefer Market, highlighting leading vendors and their innovative profiles. These include AC REFRIGO, Bay & Bay Transportation, BSL Refrigerated Containers, Covenant Transportation Group, CXIC Group, Daikin Industries, Ltd., Great Dane LLC, Hapag-Lloyd AG, Klinge Corporation, KLLM Transport Services, Maersk A/S, Marten Transport, Ltd., Mitsubishi Heavy Industries, Ltd., Navajo Express, Ocean Network Express Holdings, Ltd., Penske, Prime Inc., Reefervan, Schmitz Cargobull AG, Seaco Srl, Singamas Container Holdings Limited, SMC Group, Swift Transportation Company, Tata Motors Limited, Thermo King Corporation, TransAm Trucking Inc., Utility Trailer Manufacturing Company, and Wabash National Corporation.

Market Segmentation & Coverage

This research report categorizes the Reefer Market to forecast the revenues and analyze trends in each of the following sub-markets:

Temperature
- Multi-temperature
- Single-temperature

Technology
- Cryogenic Systems
- Vapor Compression Systems

Size
- 20-40 Feet
- Less than 20 Feet
- More than 40 Feet

Transportation Mode
- Airways
- Railways
- Seaways

End-Use
- Agriculture
- Chemicals
- Food & Beverage
- Pharmaceutical

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Reefer Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Reefer Market?

3. What are the technology trends and regulatory frameworks in the Reefer Market?

4. What is the market share of the leading vendors in the Reefer Market?

5. Which modes and strategic moves are suitable for entering the Reefer Market?

Product Code: MRR-0355054AC478

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Globalization and international trade of perishable commodities
  - 5.1.1.2. Technological innovations in refrigerated systems and equipment
  - 5.1.1.3. Government initiatives supporting transport of perishable agriculture produce and medical supplies
- 5.1.2. Restraints
  - 5.1.2.1. Rising fuel costs and high capital investment requirement
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of advanced tracking and monitoring technologies coupled with rising deployment of multi-temperature systems in trucks and trailers
  - 5.1.3.2. Increasing investments in cold chain infrastructure
- 5.1.4. Challenges
  - 5.1.4.1. Limited transport support and lack of cold chain infrastructure in developing economies
5.2. Market Segmentation Analysis
- 5.2.1. Technology: Growing preferences of cryogenic systems for short-term and rapid cooling needs
- 5.2.2. End-Use: Expansion of food & beverage and pharmaceutical sector boosts the demand of reefer
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Reefer Market, by Temperature

6.1. Introduction
6.2. Multi-temperature
6.3. Single-temperature

7. Reefer Market, by Technology

7.1. Introduction
7.2. Cryogenic Systems
7.3. Vapor Compression Systems

8. Reefer Market, by Size

8.1. Introduction
8.2. 20-40 Feet
8.3. Less than 20 Feet
8.4. More than 40 Feet

9. Reefer Market, by Transportation Mode

9.1. Introduction
9.2. Airways
9.3. Railways
9.4. Seaways

10. Reefer Market, by End-Use

10.1. Introduction
10.2. Agriculture
10.3. Chemicals
10.4. Food & Beverage
10.5. Pharmaceutical

11. Americas Reefer Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Reefer Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Reefer Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Advancing Global Logistics: The Strategic Partnership Between Daikin Reefer and Chiquita
- 14.3.2. Innovative Launch of the Dual-Temperature CA-Equipped Reefer Container by ONE
- 14.3.3. Pioneering Sustainable Reefer Transport in Europe: PSA Italy's Rail Solution
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio