40-Foot Container Chassis Market Trends and Scope by 2031
The 40-foot container chassis market size is projected to reach US$ 2516.88 million by 2031 from US$ 1300.84 million in 2023. The market is expected to register a CAGR of 8.6% in 2023–2031. The demand for 40-foot containers is growing with the rise in trading activities worldwide. These containers are used for the national and international shipping of high-volume goods due to their ability to hold a large amount of cargo. Considering the growing adoption of 40-foot containers, manufacturers are scaling up their manufacturing operations, which propels the demand for chassis for these containers. Moreover, they are launching new products with added features to boost their revenue sales and customer base.
40-Foot Container Chassis Market Analysis
Regulatory bodies and regulations such as the Federal Motor Carrier Safety Administration (FMCSA), container safety certificate (CSC), and the International Organization for Standardization (ISO) have a strong influence on the manufacturing and sale of container chassis. In February 2021, Federal Motor Carrier Safety Administration (FMCSA) enforced its Intermodal Chassis rule that requires intermodal equipment providers (IEPs), motor carriers, and drivers to share responsibility for the safety of intermodal equipment used on highways. Further, government investments in highway and road infrastructure to enhance the quality of roads, railroads, ports, and air transport are anticipated to trigger the demand for container chassis in the coming years. An improved transportation infrastructure would boost logistics operations in the commercial and industrial sectors, thereby aiding in the secure and timely delivery of goods and services. In March 2023, the provincial government of Newfoundland and Labrador announced an investment of ~US$ 1.4 billion to enhance road and highway transportation infrastructure over the next five years. In March 2023, the UK government announced plans of investing ~US$ 43.50 (£ 40) billion in transformational transport schemes across the country over the next two years. 40-foot container chassis are used in various commercial and industrial transportation. Thus, government investments to boost the commercial and industrial segments of economies by improving road and highway infrastructure are projected to offer promising growth opportunities for the 40-foot container chassis market during the forecast period.
40-Foot Container Chassis Market Overview
The 40-foot container chassis market is generally used by intermodal equipment providers (IEP), shipping lines, and motor carriers, which involves regional and local movement of containers by trucks. Chassis is used for moving containers from loading areas to the yard, as well as to yard storage areas, at terminals. The chassis systems are strong and sturdy and protect containers from the impact of sharp and sudden movements when in transit, thereby ensuring efficient and safe transportation.
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40-Foot Container Chassis Market: Strategic Insights
Market Size Value in US$ 1,279.41 million in 2023 Market Size Value by US$ 1,930.69 million by 2028 Growth rate CAGR of 8.6% from 2023 to 2028 Forecast Period 2023-2028 Base Year 2023
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40-Foot Container Chassis Market: Strategic Insights
| Market Size Value in | US$ 1,279.41 million in 2023 |
| Market Size Value by | US$ 1,930.69 million by 2028 |
| Growth rate | CAGR of 8.6% from 2023 to 2028 |
| Forecast Period | 2023-2028 |
| Base Year | 2023 |
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40-Foot Container Chassis Market Drivers and Opportunities
Rise in Trading Operations Across World
According to the World Trade Organization (WTO), in 2022, world trade has increased by an annual average of 4% in terms of volume and 6% in terms of value since 1995. Globalization has been one of the primary reasons for the growth in world trade. A resultant upsurge in the demand for shipping goods drives the need for container chassis to transport 40-foot containers. Further, the use of these chassis is not limited to transferring goods by sea and land. They are also used for the intermodal transfer of containers via different modes of transportation, such as ships, trains, and trucks. Thus, the continuously growing trade activities across the world bolster the growth of the 40-foot container chassis market.
Integration of Modern Technologies in Chassis
The integration of IoT in chassis systems has facilitated strong connectivity between the chassis and other components of a supply chain, leading to enhanced visibility and real-time tracking of cargo on phones or computers. IoT is likely to be extrapolated in a these chassis to enhance its efficiency. Moreover, advanced technologies such as telematics is perceived to have various benefits when integrated with intermodal chassis. Telematics can keep personnel updated by offering information on chassis departure and arriaval, which would resolve billing disputes and prevent theft occurrences. It also assists in better management of supply chains and freight networks.
40-Foot Container Chassis Market Report Segmentation Analysis
Key segments that contributed to the derivation of the 40-foot container chassis market analysis are type, and axle.
- Based on the type, the market is divided into 2-Axles, 3-Axles, 4-Axles. The 2-Axles segment held a larger market share in 2023.
- Based on type, the global 40-foot container chassis market is divided into below goosekneck, flip-up rear bolster, straight frame, and drop frame. The goosekneck segment held a larger market share in 2023.
40-Foot Container Chassis Market Share Analysis by Geography
Based on geography, the North America 40-foot container chassis market is segmented into the US, Canada, and Mexico. The region is a pioneer in adopting and expanding its business capabilities to meet the growing customer demand. With globalization, there is a rising demand for goods and services transported across international borders. Import and export activities in the region are increasing. For instance, according to the Bureau of Economic Analysis, the import and export activities between the US and China increased in 2022 compared to 2021. Thus, these increased trades of goods require large containers and chassis to transport the goods from ports and warehouses. To cater to such demand, market players are taking strategic initiatives to boost the sales of 40-foot container chassis. For instance, in June 2022, GIC, OMERS Infrastructure, and Wren House jointly acquired Direct Chassis Link Inc. (DCLI), a chassis leasing company in the US. This acquisition will strengthen the DCLI capabilities to reach more customers and leverage the constant support from the GIC, OMERS Infrastructure, and Wren House. Moreover, market players are building new chassis manufacturing units to cater to the rising chassis demand amid the chassis shortage issue in the US. For instance, in October 2020, California-based CIE Manufacturing (CIEM) opened its new chassis manufacturing plant in Virginia and rolled out its first container chassis. The aim of building this manufacturing plant was to manufacture chassis capable of transporting 40-foot and 40/45-foot intermodal containers. In addition, CIEM expanded its California manufacturing plant in 2020. In March 2022, TRAC Intermodal partnered with American Made Chassis (AMC) to manufacture and supply new marine 40-foot container chassis. Strategic partnerships among the market players to manufacture 40-foot container chassis lead to increased collaboration in design, manufacturing, and distribution capabilities of the market players, helping fuel the 40-foot container chassis market growth in North America.
40-Foot Container Chassis Market Report Scope
40-Foot Container Chassis Market News and Recent Developments
The 40-foot container chassis market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
- In April 2022, Triton brings TAL Chassis under the umbrella of its main brand. The company continued to focus on chassis term leasing and direct sales to customers looking for flexible, low-cost solutions and thoughtful and innovative lease structures. (Source: Triton, Press Release)
- In April 2022, Kässbohrer and CM Logistik Gruppe established their new partnership with 40 middle-rear extendable multifunctional container chassis K.SHG AMH vehicles. (Source: Kässbohrer, Press Release)
40-Foot Container Chassis Market Report Coverage and Deliverables
The “40-Foot Container Chassis Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:
- 40-Foot Container Chassis Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities
- 40-Foot Container Chassis Market Trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- 40-Foot Container Chassis Market Analysis covering key market trends, Global and regional framework, major players, regulations, and recent market developments
- 40-Foot Container Chassis Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments.
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Axle, and Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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