Press release
Reefer Container Market Business Strategies, and Regional Outlook
Reefer Container Market Overview@ https://www.psmarketresearch.com/market-analysis/reefer-container-market-report
This is because pharmaceuticals are extremely sensitive to temperature, which is why they need to be transported in refrigerated, or reefer, containers. In this regard, the improvements in the reefer technology and decrease in the cost of shipping are acting as key reefer container market drivers, by encouraging companies to send higher volumes of products via the sea. For instance, compared to just 5% in 2012, AstraZeneca plc was transporting almost 70% of its products via the sea in 2017.
During the COVID-19 pandemic, though the global demand for drugs has increased, the reefer container market has been negatively affected. Due to a reduction in the workforce as an infection prevention measure, port operations were severely hampered. Additionally, the demand for a large number of non-essential products declined massively, which led to significant losses for logistics companies. This is why they spent considerably lesser on buying and leasing reefer containers in 2020.
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Asia-Pacific (APAC) has dominated the reefer container market till now, and it will continue doing so in the years to come. Being home to the largest population in the world, the region generates the highest demand for various types of products, including food, chemicals, and pharmaceuticals. Moreover, most of the trade routes now connect regional ports, including the largest ones on earth, viz. Shanghai and Singapore.
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