Shipping Containers Market:
Growth opportunities in the market look promising over the next six years. This is mainly due to the growing number of trade activities in the developing and developed nations, shift towards adopting automation in marine transportation, and rapid industrialization.
Shipping Containers Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The rising demand for shipping containers due to the increasing trade activities around the world, mainly through waterways is a major factor that is surging the market growht. The shipping containers attract a large range of users due to their features like a better degree of customer experience, higher level of transparency, and optimization of loopholes and supply chains. All these factors together will drive the growth of the global shipping container market during the forecast period.
The growing preference towards the adoption of automation in marine transportation results in the expansion in safety measures. The expansion in the manufacturing facilities, rapid globalization, and industrialization will further support the market share. However, the factors obstructing the growth of the global market are the fluctuation in transportation and inventory costs. Moreover, the outbreak of the COVID-19 has negatively impacted the growth of the market. The strict lockdown, sealing of the national borders, and the temporary shutdown of airlines and shipping businesses resulted in fall in demand for shipping containers, particularly in 2020. As per the shipping container industry outlook, the growth is projected to get back on track in 2021 while showing a higher rate from 2022 onwards.
Product Size Segment Drivers
Based on the product type, Dry Storage Container is predicted to expand at a faster CAGR during the forecast period due to the high adoption of these containers led by their growing demand in the shipping and logistics industry.
Container Size Segment Drivers
On the basis of container size, the Large Container is expected to increase at a faster CAGR during the forecast period. This is owing to the growing usage of the containers in trade and other activities because of the higher storage capacity and reliability.
Regional Drivers
Based on the regional coverage, Asia-Pacific is projected to lead the market during the forecast period because of the boost in the trade activities and favorable government policies of trade. Also, the rise in seaborne trade activities, improvement in the transportation services, and the growing trend of containerization of goods will further create enormous growth opportunities in the market.
Shipping Containers Market’s leading Manufacturers:
- CXIC Group
- Singamas Container Holdings Limited
- TLS Offshore Containers
- China International Marine Containers (Group) Ltd
- P. Moller – Maersk
- YMC Container Solutions
- W&K Containers, Inc
- OEG Offshore Limited
- COSCO SHIPPING Development Co. Ltd
- CARU Containers
Shipping Containers Market Segmentation:
Segmentation by Product Type:
- Flat Rack Container
- Dry Storage Container
- Special Purpose Container
- Refrigerated Container
- Others
Segmentation by End Use:
- Consumer Goods
- Food & Beverages
- Industrial Products
- Healthcare
- Vehicle Transport
- Others
Segmentation by Container Size:
- Small Container
- Large Container
- High Cube Container
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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