Transportation of goods is important for the global economy. Various methods of transportation are road, marine, rail, and air. Transportation of goods by sea is easy, convenient, and less costly than other methods. It is also vital for the global economy. The need of sea transportation is important due to increase in demands of goods and services. Globalization has influenced the eating habits of people. Changing lifestyle, urbanization, trade liberalization, increase in income of the people, foreign investments, and market integration are the major factors that affect food preferences across the globe. These challenges in transportation of perishable goods over long distances have been overcome by reefers (refrigeration containers). This technology plays an important role in the transportation of perishable goods. It ensures goods to reach the destination fresh.
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The global refrigerated sea transportation market is driven by technological enhancements, changing customer food preferences, container modification, and globalization. The refrigerated sea transportation market is projected to grow at a significant pace during the forecast period owing to increase in demand for perishable goods across the globe. However, irregular distribution channels, government norms, and increase in prices of customized containers which affects the operating cost of transportation are expected to restrain the global refrigerated sea transportation market.
The global refrigerated sea transportation market can be segmented based on type, product type, application, and region. In terms of type, the refrigerated sea transportation market can be bifurcated into containerized reefers and specialized reefers. Based on product type, the global refrigerated sea transportation market can be classified into chilled and frozen products. In terms of application, the refrigerated sea transportation market can be categorized into dairy & frozen desserts, fruits & vegetables, bakery & confectionery, seafood, meat, fish, and others (dips, condiments, and sauces). Based on region, the global refrigerated sea transportation market can be segmented into Europe, North America, Middle East & Africa, Asia Pacific, and Latin America. Asia Pacific is projected to lead the global refrigerated sea transportation market due to high production of goods/commodities and strong supply chain. China dominates the global ship building industry and export business. The country accounts for major share of exports from Asia Pacific. Latin America is expected to experience higher demand for refrigerated sea transportation due to increase in export of goods and commodities to Europe and North America.
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Key players in the global refrigerated sea transportation market are CMA CGM S.A., Seatrade Reefer Chartering, Maersk Line, NYK Line, China Shipping Container Lines, Africa Express Line, Geest Line, Green Reefers Group, APL, Klinge Group, Kyowa Shipping, Hanjin Shipping, Maestro Reefers, Hamburg Sud, Orient Overseas Container Line, FSC Frigoship Chartering, K Line Logistics, Mediterranean Shipping Company, SeaCube Container Leasing, BLPL, STAR Reefers, Mitsui O.S.K. Lines, KMTC, Yang Ming Marine Transport, Hapag-Lloyd, ZIM Integrated Shipping Services, Compania Sudamericana de Vapores, and United Arab Shipping.
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