The reefer container market has grown substantially in the next few years and will exceed the dry goods market

According to a new analysis by global shipping consulting firm Drewry predicts that despite the limited growth of the reefer container market in 2019, the field will maintain strong growth in the next few years.

In 2019, the number of reefer containers increased by 1.7% to 130.5 million tons, which is the lowest annual growth rate since 2015. This is largely due to extreme weather in Europe and droughts in South Africa and Chile that have led to a decline in shipments of deciduous and citrus fruits.

Despite this, Drewry still predicts that the reefer container market will surpass the dry goods market in the next few years and will grow at an annual rate of 3.7% by 2024, when the global reefer container volume will reach 156 million tons.

In addition, the transformation from the traditional reefer container transportation mode will also help the growth of reefer container cargo, which will quickly surpass the broader container transportation market. For example, last year, the number of refrigerated cargo transported by container ships increased by 3.4% to 5.3 million FEU. Drewry expects to increase by 5% annually by 2024, far exceeding dry bulk.


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