At 8.2% CAGR, the North America 40-Foot Container Chassis Market is projected to be worth US$ 570.54 Million by 2028, says Business Market Insights

According to Business Market Insights’ research, the North America 40-foot container chassis market was valued at US$ 384.19 million in 2023 and is expected to reach US$ 570.54 million by 2028, registering a CAGR of 8.2% from 2023 to 2028. Strategic initiatives by chassis manufacturers and rise in trading operations are the critical factors attributed to the North America 40-foot container chassis market expansion.  

The 40-foot containers are widely used to transport consumer goods, industrial goods, raw materials such as steel and chemicals, construction materials, agricultural products, and so on. In general, 40-foot containers are used to ship a wide range of goods across international borders due to their ability to accommodate large volumes of cargo and their suitability for intermodal transportation. A rise in trade activities worldwide propels the demand for larger containers for transferring goods from one point to another. 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 40-foot container 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.

On the contrary, low demand for new chassis due to long lifespan hurdles the growth of North America 40-foot container chassis market.

Based on axle, the 40-foot container chassis market is categorized into 2-axle chassis, 3-axle chassis, and 4-axle chassis. The 2-axle segment 161.28 held 42.0% market share in 2023, amassing US$ 207.73 million. It is projected to garner US$ 241.33 million by 2028 to expand at 8.4% CAGR during 2023–2028.

Based on type, the 40-foot container chassis market size is sub segmented into gooseneck type, flip-up rear bolster, straight frame type, and drop frame type. The gooseneck type chassis segment held 40.3% market share in 2023, amassing US$ 154.64 million. It is projected to garner US$ 223.13  million by 2028 to expand at 7.6% CAGR during 2023–2028.

Based on country, the North America 40-foot container chassis market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 76.6% market share in 2023. It was assessed at US$ 294.42 million in 2023 and is likely to hit US$ 447.25 million by 2028, exhibiting a CAGR of 8.7% during the forecast period.

Key players dominating the North America 40-foot container chassis market are Chassis King Inc; Cheetah Chassis Corp; Triton International Ltd; CIMC Intermodal Equipment LLC; Schmitz Cargobull AG; Panda Mechanical Co Ltd; Panus Assembly Co Ltd; Pro-Haul Manufacturing Inc; and Karl Kassbohrer Fahrzeugwerke GmbH, among others.      

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