According to the latest report by IMARC Group, titled “Shipping Container Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global shipping container market reached a value of US$ 9.7 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 4.6% during 2021-2026.
Shipping containers, or intermodal containers, are used for transporting and carrying goods and cargo by sea and land via ships, rails or trucks. These watertight containers have excellent strength and durability, making them ideal to withstand shipment, storage and handling. They are also cost-effective and convenient for cargo transportation and eliminate the need for unloading and reloading cargo at intermediate points. As a result, shipping containers have gained immense traction across the food and beverages (F&B), consumer goods, pharmaceuticals, chemical and automotive industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Shipping Container Market Trends:
The escalating demand for cargo transportation via ships and the increasing number of trade-related agreements represent the primary factors driving the market.
Additionally, the widespread adoption of automation at cargo terminals, coupled with the implementation of stringent safety norms in marine transportation, is augmenting the demand for shipping containers.
Besides this, several major shipping companies are adopting the Internet of Things (IoT)-connected devices to collect valuable insights that are utilized to minimize downtime and streamline multiple processes to enhance operational efficiency in the maritime industry.
Furthermore, shipping containers are extensively used for transporting industrial raw materials and manufactured goods such as metals, minerals, oil and gases, chemicals, and parts of machinery, automobiles and aircraft. This, in confluence with the rising investments in manufacturing healthcare products and shipping of the COVID-19 vaccine to different parts of the world, are also propelling the market growth.
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Global Shipping Container Market 2021-2026 Analysis and Segmentation:
Competitive Landscape with Key Player:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- A.P. Moller – Maersk
- CARU Containers B.V
- China Eastern Containers
- COSCO SHIPPING Lines Co. Ltd. (China COSCO Shipping Corporation Limited)
- CXIC Group Containers Company Limited
- OEG Offshore Limited
- Ritveyraaj Cargo Shipping Containers
- SEA BOX Inc.
- Singamas Container Holdings Limited
- TLS Offshore Containers International
- W&K Containers Inc.
- YMC Container Solutions.
Breakup by Product:
- Dry Storage Containers
- Flat Rack Containers
- Refrigerated Containers
- Special Purpose Containers
Breakup by Container Size:
- Small Containers (20 feet)
- Large Containers (40 feet)
- High Cube Containers
Breakup by Application:
- Food and Beverages
- Consumer Goods
- Industrial Products
- Vehicle Transport
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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