The latest market report published by Credence Research, Inc. “Temperature Controlled Containers Market, By Type (Active & Passive), End Use Industry (Food & Beverages, Healthcare, Chemicals and Others) and Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global temperature controlled containers market is expected to reach US$ 9,452.4 Mn by 2025, expanding at a CAGR of 8.0% from 2017 to 2025.
Temperature control containers helps to maintain the hygiene and nature of the product regardless of what the problems faced during transportation or the weather condition, thus regardless of the geographical location the demand for temperature controlled containers has increased. Growing demand for chilled applications in food & beverages and storage and transportation of perishable fruits, vegetables, ready to eat foods, dairy products, fresh poultry, meat and seafood is expected to drive the demand of temperature controlled containers in this industry. Temperature controlled containers are attaining extensive popularity in healthcare industry for shipping and storing vaccines, specialty drugs, donor organs, blood transfers and so on, thus the segment is expected to witness the fastest CAGR of 8.3% during the forecast period.
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Temperature controlled containers are essentially perishable and present greater challenges and risk exposures for the logistics operator than ambient containers. Higher maintenance cost and service cost is the major challenge faced by temperature controlled container operators, which in turn increases the freight cost to the customer availing transportation services.
In the global market for temperature controlled containers relatively small number of firms account for a relatively large percentage share of the market. Their growth strategy is focused on niche market and population segment. Companies are more focusing on increasing geographical reach and increasing the investment in R&D for developing new products. Many major players are introducing new technological advancements and innovation to introduce new product lines and to meet the demands of customers. Cold Chain Technologies, Intelsius – A DGP Company, Pelican BioThermal LLC, Inno Cool Pvt Ltd are focused towards the new product development, whereas Envirotainer AB, Pelican BioThermal LLC, TKT GmbH are expanding their market presence by increasing their geographical reach.
- Rising demand from end use industry
- New product launches
- Asia Pacific offers huge market potential