Study: Global refrigerated sea transport containers to reach 3.46 MTEU by 2020
China ranks as one of the key countries in ship building and exporting, contributing to more than 40% to the APAC market.
Refrigerated sea transport containerization deals with import and export of fresh foods, meat and more are experiencing a growing demand across different regions worldwide, and are expected to grow in terms of container volumes through the forecast period, according to research conducted by The Insight Partners, New York.
The overall market volume is expected to grow from 2.35 MTEU in 2014 to 3.46 M TEU in 2020 with a CAGR of 6.7%. Some of the key drivers of the market include rapid change in food and beverage consumption pattern and preferences, rise in demand for cost-effective and efficient transportation mode, advances in refrigeration technology and insulated container construction and increased prosperity in many regions of the world, which is driving demand for higher-value chilled fruit and vegetables.
The market was classified by two types of reefers i.e., containerized reefers and specialized reefers and by segments such as pharmaceuticals, seafood, fresh produce meat and more. Then, the overall market was divided into five geographical regions such as North America, Europe, APAC, Middle East and South America.
China ranks as one of the key countries in ship building and exporting, contributing to more than 40% to the APAC market. In the past decade, South America has been experiencing highest demands for reefer container due to increasing exports of goods and commodities to North America and Europe.