Shipping Container Market - Global Industry Analysis

Global Shipping Container Market: Overview

A container with high strength that can withstand handling, storage, and shipment is referred to as a shipping container. Shipping containers are generally available in a wide range of boxes ranging from ubiquitous corrugated boxes to huge reusable steel boxes that are mostly utilized for intermodal shipments. Transport of goods by seaborne modes as well as land is facilitated by shipping containers and this may involve trucks, rails, and/or ships. These containers allow transport of goods without any necessity of reloading and unloading at any intermediary points.

Report Scope:

Global Shipping Container Market: Growth Factors

Rapidly growing transportation & logistic sector is among the prime aspect that is driving the global shipping container market growth. Further, growing trade-related agreements and rise in cargo transportation via ships are adding up to the growth of the global market. In addition to this, most of the business across distinct sectors are shifting towards renting shipping containers owing to their ability to store large volume of stuff, simplicity, convenience, and affordability. This trend is gaining popularity thereby resulting in high demand for shipping containers. Additionally, availability of wide range of products of shipping containers such as refrigerated containers, dry storage containers, etc as per the need is equally contributing to the shipping container market. Moreover, in healthcare sectors, use of shipping containers is not just restricted to transportation, handling, and storage, but are widely used as mobile healthcare clinics. In such cases, shipping containers are transformed into medical facilities which can be used as temporary first aid centers, emergency storage of wheelchairs & extra beds, and many more. All these factors are also fueling global shipping container market growth. Furthermore, marine transportation is leading towards automation which will open doors for automated vessels that can be used for cargo transportation. This may create lucrative opportunities for the growth of the global shipping container market during the forecast period. However, instabilities in inventory costs and transportation may impede the growth of the global market.

The onset of COVID-19 negatively impacted the growth of overall shipping container market. This is mainly due to drop in shipping rates all over the world. Strict restrictions imposed by several governments have resulted in a decrease in the number of shipments. Also, the limited availability of the workforce and reduced demand for new shipping containers has resulted in halt in container manufacturing. All these factors contributed to low revenue generation for shipping container market during the pandemic period. However, the demand for shipping is increasing due to surge in global trade which is expected to bounce back the market growth over the forecast period.

Global Shipping Container Market: Segmentation

The global shipping container market is bifurcated based on container size, product type, end-use, and region. Based on the container size, the global shipping container market is split into high cube containers (40 feet), large containers (40 feet), and small containers (20 feet). The product type segment is divided into special purpose containers, refrigerated containers, flat rack containers, dry storage containers, and others. The end-use industries of shipping container market include vehicle transport, industrial products, healthcare, consumer goods, food & beverages, and others.

Global Shipping Container Market: Regional Analysis

Asia Pacific is projected to remain the largest market for shipping containers during the forecast period. The region is also anticipated to register fastest growth owing to significant surge in shipping activities. Demand for shipping container is huge in emerging countries such as India, China, and Japan. China is considered a global manufacturing hub and the export percent of all types of goods is very huge. Similarly, percentage of trade is significantly increased in India in last decade. This is mainly due to large coastal area available for China and India. Presence of large population and increasing industrialization has created large demand for shipping in the region. All these factors are collectively contributing to the growth of the market in APAC region. North America is expected to remain on the second spot in the global shipping container market. This is attributed to increase in trade through seaways. North America is one of the major economies in the world and the demand for goods is always high. Similarly, export of metals, electric components, food products, and drugs is on rise which is ultimately increasing the number of shipments. All those factors are flourishing the growth of the market in the region.

Global Shipping Container Market: Competitive Players

Some of the prominent players that are operating in the global shipping container market are Sea Box, Inc., Maersk Container Industry, CXIC Group Containers Company Limited, Singamas Container Holdings Limited, China International Marine Containers Co., Ltd., CARU Containers B.V., OEG OFFSHORE LIMITED, TLS Offshore Containers International, YMC Container Solutions, and W&K Container, among others.

Global Shipping Container Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.