Reefer Container Genset Market Size

Reefer Container Genset Market Growth Projections and Opportunities

In 2021, the global market for reefer container gensets reached a valuation of USD 3,399.7 million, and it is projected to soar to USD 8,715.6 million by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 10.8% during the period from 2022 to 2030.

Gensets, short for generator sets, are specialized diesel generators designed to power refrigerated containers, commonly known as reefers. These gensets play a vital role in providing power to reefers in off-grid locations or enabling the use of reefers on trucks for transporting perishable goods. When reefers, which are containers equipped with a refrigeration system, require an external power source during transport on ships, trains, or trucks, gensets are frequently utilized.

Reefer containers are integral to the shipping and transportation of temperature-sensitive cargo, and gensets contribute significantly to their functionality. While many ships incorporate power sources for reefer containers that require heating or cooling, gensets offer a crucial backup power solution. This backup becomes particularly important for maintaining the temperature-sensitive cargo within a specified range, ensuring the preservation of extremely delicate items during transit.

The comprehensive study on the global reefer container genset market delves into various aspects, including industry trends, market dynamics, size, competitive landscape, and growth opportunities. The research report categorizes the market based on product type, type of reefer container, application, and region/country.

In terms of product type, the market is segmented into undermount reefer generators and clip-on generators. The clip-on generator segment dominated the market in 2021 and is anticipated to witness the highest CAGR during the assessment period.

The type of reefer container is categorized into 20 ft reefer, 40 ft reefer, and others. The 40 ft reefer segment held the market dominance in 2021, while the others segment is expected to exhibit the highest CAGR during the assessment period.

Application-wise, the reefer container genset market is divided into dairy products, medicine, seafood, and others. The medicine segment emerged as the market leader in 2021 and is anticipated to experience the highest CAGR during the assessment period.

Regionally, Asia-Pacific is expected to dominate the reefer container genset market in 2021 and exhibit the highest CAGR throughout the forecast period.

The global market is characterized by high competition, with numerous vendors offering feature-rich and innovative solutions. Major players profiled in the study include Thermo King, Carrier Transicold (Carrier), MPMC Powertech Corp, CIMC, Taylor Power Systems, Inc., among others. These industry leaders contribute to the market with advanced solutions that cater to the diverse needs of customers in the reefer container genset sector.