REDDING, Calif., Dec. 10, 2024 /PRNewswire/ -- According to a new market research report titled 'Shipping Containers Market by Type (Dry Storage, Refrigerated, Tank), Size (Small Container, Large Container), End-use Industry (Industrial Products, Retail & E-commerce, Automotive, Food & Beverages), Geography - Global Forecast to 2031,'
The shipping containers market is projected to reach $13.1 billion by 2031, at a CAGR of 4.8% during the forecast period 2024-2031.
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Shipping containers are standardized, large, robust, and reusable containers used for the transportation of goods by sea, land, or air. They are designed to be durable and secure, capable of holding various types of cargo while withstanding the rigors of long-distance shipping. These containers have become a fundamental part of global trade and logistics due to their efficiency, versatility, and ability to simplify the transport process.
The growth of the shipping containers market is driven by the increasing demand for cargo transportation by ships and the rise in trade agreements between nations. However, high trade tariffs & disputes may restrain market growth.
Additionally, the growing demand for refrigerated containers for transporting perishable goods and the rise in e-commerce shipping operations are expected to create growth opportunities for stakeholders in this market. However, fluctuations in container prices and material costs are significant challenges affecting the market's growth. Furthermore, the expansion of manufacturing activities and industrial production is a prominent trend in this market.
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The shipping containers market is segmented based on by type (dry storage containers, refrigerated containers, flat rack containers, open-top containers, tank containers, and other types), size (small containers, large containers, high cube containers), and end-use industry (industrial products, retail & e-commerce, automotive, chemicals & pharmaceuticals, food & beverages, agriculture, consumer goods, transport & logistics, healthcare, construction, oil & gas, manufacturing, and other end-use industries). The report also provides a comprehensive analysis of the shipping containers market in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Based on type, the refrigerated containers segment is slated to register the highest CAGR during the forecast period. The integration of IoT and real-time tracking systems in refrigerated containers and the increasing need for temperature-controlled transportation for fresh products, pharmaceuticals, and seafood are expected to drive the segment's growth.
Based on size, the large containers segment is slated to register the highest CAGR during the forecast period. The rising demand for large containers to transport vast quantities of goods, the growth of e-commerce and retail, and the high demand for large containers in ships, trains, and road transport due to their standardized dimensions for efficient handling and transfer of goods are key factors supporting the segment's growth.
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Based on end-use industry, the healthcare segment is slated to register the highest CAGR during the forecast period. The increasing demand for temperature-controlled and secure shipping, the rise of e-commerce in healthcare, and the need for specialized packaging and temperature control in the shipping of healthcare products are expected to drive the segment's growth.
Based on geography, the Asia-Pacific market is slated to record the highest CAGR during the forecast period. The growth of this regional market is driven by factors such as high exports of electronics, semiconductors, and other high-tech products, the expanding manufacturing sector, and the growing demand for temperature-sensitive products. Additionally, the presence of key market players, infrastructural development in countries like China, South Korea, Japan, and India, technological advancements, government initiatives to boost marine trade, and increasing investments by market players are contributing to the market's growth in the region.
The key players operating in the shipping containers market are ALMAR Container Group (South Africa), Mærsk A/S (Denmark), Textainer Group Holdings Limited (Bermuda), CARU Group B.V. (Netherlands), China International Marine Containers (Group) Co., Ltd. (China), COSCO SHIPPING LINES CO., LTD. (China), Evergreen Marine Corp. Ltd. (Taiwan), Ritveyraaj Cargo Shipping Containers (India), SEA BOX, Inc. (U.S.), Singamas Container Holdings Limited. (Hong Kong), Triton International Limited (U.S.), W&K Containers, Inc. (U.S.), Florens Asset Management Company Limited (Hong Kong), LCL LOGISTIX INDIA PVT. LTD. (India), and Storstac Inc. (Canada).
Shipping Containers Industry Overview: Latest Developments from Key Industry Players
- In August 2024, METRANS, a.s. (Czech Republic) launched innovative containers for car transport. The new 20-foot containers are made of reinforced steel, ensuring high strength and durability. They are designed to transport up to two cars of various sizes, with a total weight of up to 4.2 tons.
- In May 2024, COSCO SHIPPING LINES CO., LTD. (China) launched the world's largest electric container ship, which will begin a regular service between Shanghai and Nanjing and save 3,900kg of fuel for every 100 nautical miles sailed.
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Scope of the Report:
Shipping Containers Market Assessment-by Type
- Dry Storage Containers
- Refrigerated Containers
- Flat Rack Containers
- Open-Top Containers
- Tank Containers
- Other Types
Shipping Containers Market Assessment-by Size
- Small Containers
- Large Containers
- High Cube Containers
Shipping Containers Market Assessment-by End-use Industry
- Industrial Products
- Retail & E-commerce
- Automotive
- Chemicals & Pharmaceuticals
- Food & Beverages
- Agriculture
- Consumer Goods
- Transport & Logistics
- Healthcare
- Construction
- Oil & Gas
- Manufacturing
- Other End-use Industries
Shipping Containers Market Assessment-by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Sweden
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Singapore
- South Korea
- Australia & New Zealand
- Indonesia
- Rest of Asia-Pacific
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- UAE
- Israel
- Saudi Arabia
- Rest of Middle East & Africa
Shipping Containers Market Research Summary
Particulars | Details |
Number of Pages | 250 |
Format | |
Forecast Period | 2024-2031 |
Base Year | 2023 |
CAGR (Value) | 4.8 % |
Market Size (Value) in 2024 | USD 9.4 Billion |
Market Size (Value) inn 2031 | USD 13.1 Billion |
Segments Covered | By Type
By Size
By End-use Industry
|
Countries Covered | North America (U.S. and Canada), Europe (Germany, U.K., France, Italy, Spain, Netherlands, Sweden, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, Australia & New Zealand, Indonesia, Singapore, and Rest of Asia-Pacific), Latin America (Mexico, Brazil, and Rest of Latin America), and Middle East & Africa (UAE, Saudi Arabia, Israel, and Rest of Middle East & Africa) |
Key Companies | ALMAR Container Group (South Africa), Mærsk A/S (Denmark), Textainer Group Holdings Limited (Bermuda), CARU Group B.V. (Netherlands), China International Marine Containers (Group) Co., Ltd. (China), COSCO SHIPPING LINES CO., LTD. (China), Evergreen Marine Corp. Ltd. (Taiwan), Ritveyraaj Cargo Shipping Containers (India), SEA BOX, Inc. (U.S.), Singamas Container Holdings Limited. (Hong Kong), Triton International Limited (U.S.), W&K Containers, Inc. (U.S.), Florens Asset Management Company Limited (Hong Kong), LCL LOGISTIX INDIA PVT. LTD. (India), and Storstac Inc. (Canada) |
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