Asia Pacific 40-Foot Container Chassis Market Forecast to 2028 -Regional Analysis

The Asia Pacific 40-foot container chassis market was valued at US$ 508.94 million in 2023 and is projected to reach US$ 828.01 million by 2028; it is expected to grow at a CAGR of 10.2% from 2023 to 2028.

Integration of Modern Technologies in Chassis is Driving the Asia Pacific 40-Foot Container Chassis Market

The integration of IoT in chassis systems has enabled better connectivity between the chassis and other components of a supply chain, leading to improved visibility and real-time tracking of cargo on phones or computers. IoT is likely to be extrapolated in a 40-foot container chassis to enhance its efficiency. Moreover, telematics is perceived to have evident benefits when integrated with intermodal chassis. Telematics can keep personnel updated by providing information on chassis arrival and departure, which would resolve billing disputes and prevent theft incidences. It also assists in better management of supply chains and freight networks. In July 2021, Microsoft launched a mobile application “IoT Plug and Play” that can be connected to the chassis. This application provides interactive container chassis tracking dashboard using data such as sensor readings and errors. This application can help chassis controllers and logistics companies to track the real-time locations of chassis, which helps to improve the end-to-end supply chain. Thus, the integration of modern technologies with chassis systems creates lucrative opportunities for the 40-foot container chassis market.

Asia Pacific 40-Foot Container Chassis Market Overview

Based on country, the Asia Pacific 40-foot container chassis market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The rise in industrialization in Asia Pacific led to the development of densely populated areas, which increased the demand for consumer goods and industrial materials. The increased demand for industrial, commercial, and residential goods led to an increase in trading activities in the region. For instance, According to International Monetary Fund (IMF), the total merchandise trade between South Asia and East Asia increased by 10% every year between 1990 and 2018 and is expected to rise by another 30% by 2030. Thus, a rise in trade activities across regions or within the region leads to an increase in trade volume which requires containers and chassis for goods transportation, propelling the 40-foot container chassis market growth in the region.

Exhibit: Asia Pacific 40-Foot Container Chassis Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific 40-Foot Container Chassis Market Segmentation

The 40-foot container chassis market size is segmented based on axle and type.

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 held the largest market share in 2023.

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 segment held the largest market share in 2023.

Based on country, the Asia Pacific 40-foot container chassis market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the market in 2023.

Triton International Ltd; Schmitz Cargobull AG; Panda Mechanical Co Ltd; Panus Assembly Co Ltd; and Karl Kassbohrer Fahrzeugwerke GmbH are the leading companies operating in the Asia Pacific 40-foot container chassis market.