South America 40-Foot Container Chassis Market Forecast to 2028 -Regional Analysis

The South America 40-foot container chassis market was valued at US$ 30.42 million in 2023 and is projected to reach US$ 37.09 million by 2028; it is expected to grow at a CAGR of 4.0% from 2023 to 2028.

Increase in Port Expansion Activities is Driving the South America 40-Foot Container Chassis Market

Import and export of goods via sea cost less than land; thus, a large extent of trade activities are carried out through shipping. According to the United Nations Conference on Trade and Development (UNCTAD), global maritime trade is estimated to grow annually by 2.1% during 2023-2027. Therefore, increasing trade activities via sea encourages port expansion and new port development operations in different countries. According to the International Maritime Organization (IMO), the shipping industry is expected to grow by 50-250% by 2050. A projected upsurge in shipping activities during the forecast period indicated the need for advanced and large ports to efficiently manage traffic at seaports. Thus, several governments are taking initiatives to expand ports in their countries. A few of the port development projects are mentioned below. Thus, with the ongoing expansion of ports, the demand for containers for transportation to and from ports is expected to increase in the future, in turn, contributing to the demand for 40-foot container chassis.

South America 40-Foot Container Chassis Market Overview

Based on geography, the South America 40-foot container chassis market is segmented into Brazil, Argentina, and the Rest of South America. The e-commerce boom in South America is changing how companies serve their customers. For instance, according to International Trade Administration, the e-commerce industry in Brazil experienced a 16% year-over-year increase in 2021. The e-commerce industry is heavily dependent on efficient logistics and transportation systems to ensure fast delivery to customers. In addition, e-commerce also increased trade across national and international borders, using large containers to transport goods. For instance, according to Inter-American Development Bank, exports from Latin America and the Caribbean increased by 20.6% in the first half of 2022 compared to the same period in 2021. The e-commerce industry and trading activities heavily use large containers to supply goods, which further requires chassis to transport the large containers. These factors are contributing to the growth of the South America 40-foot container chassis market.

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

South America 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 South America 40-foot container chassis market is segmented into Braze, Argentina, and the Rest of South America. Brazil dominated the market in 2023.

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