Reefer Container Market Will Reach Size of 7,063.3 thousand Twenty-Foot Equivalent Units by 2030

The global reefer container market is experiencing growth and is projected to reach the size of 7,063.3 thousand twenty-foot equivalent units (TEU) by 2030, according to P&S Intelligence. This can be credited to the market development including the growing count of trade paths, increasing demand for medicinal drugs, increasing e-commerce sector, and the arrival of real-time tracking expertise.

On the basis of size, the 40 feet category is projected to experience the fastest development in the reefer container industry in the coming few years. This is mostly because 40-foot containers are made to transmit huge cargo, rather than weighty cargo.

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Furthermore, the price of 40-foot containers is fairly alike to 20-foot containers, which is between USD 7,500 and USD 8,500. Thus, the advanced volume and a small difference between the price of the containers are projected to surge the penetration of 40-foot containers in the coming few years.

Asia-Pacific held the largest share of the worldwide reefer container market in the past few years, and it is projected to hold its position in the future as well. This can be credited to the increasing international trade of seaborne unpreserved reefer cargo, armed with the improvements in reefer container technology.

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Furthermore, nearly all the key nations in the region are housed in several seaports and inland ports, and the region is experiencing the fastest development in urbanization, which, ultimately, has directed a surge in the size of the trade.

Furthermore, with the increasing populace in Latin America (LATAM), along with the fast urbanization, there has been a surge in the shipping & transportation happenings for food products. Because of these reasons, the region is projected to show the highest development rate in the industry in the coming few years.

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This release was published on openPR.