According to a recent report by Research and Markets, the global reefer container leasing market will grow at a CAGR of 17.8 per cent during 2018-2027. Growing power of leasing players is the major factor propelling the market growth. However, factor such as fluctuations in reefer container prices is hampering the market growth.
Reefer containers are refrigerated containers that continuously deliver air from the bottom of the container to share out uniform chillness across the container through specific T-shaped decking. These containers are used to carry pharmaceutical products as well as food and beverage.
Based on the end user, the food and beverage segment is estimated to have a lucrative growth due to the growing demand for processed and ready-to-eat food by the consumers. Apart from significant growth in APAC and Latin America, matured regions such as North America and Europe are processing natural and organic food over processed food. F&B manufacturers adopt container leasing over purchasing as cost cutting supply chain techniques to reduce their overall cost.
By geography, Asia Pacific is likely to have a huge demand due to the presence of several established drug manufacturers that contribute to the exponential medical product sales in this region. Also, the increasing population contribute to the demand for perishable food items such as fresh and processed foods, meat, poultry, and dairy. Growing sale of medical products and perishable food will drive the growth for reefer container leasing in this region.
Some of the key players profiled in the reefer container leasing market include Beacon Intermodal Leasing, Textainer, SeaCube Container Leasing, Seaco, CAI International and Triton International.
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