By INFINIUM GLOBAL RESEARCH
Shipping Containers Market Size | Growth and Forecast to 2031
A new report by Infinium Global Research dives deep into the global shipping container market, analyzing market segments, sub-segments, and regional trends. The study explores factors influencing the market's trajectory, including growth drivers, potential limitations, and broader economic influences. This comprehensive analysis provides insights into trends, forecasts, and projected market value. The report predicts a healthy Compound Annual Growth Rate (CAGR) of 11.38% for the global shipping container market between 2023 and 2030 (assuming a similar timeframe to the previous report). This translates to significant market expansion, with the market value expected to reach USD 13.6 billion by 2030, up from USD 7.13 billion in 2021
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Shipping Containers Market Set to Sail: Steady Growth Expected Through 2031
The global shipping container market is on course for smooth sailing, with a projected rise at a considerable rate between 2023 and 2030. This momentum is driven by a steady increase in 2022, coupled with strategic initiatives from key players in the industry. Detailed profiles of leading companies are included, offering valuable insights into your competitors and the overall competitive environment. But the report extends beyond current players, acting as a compass for the future. It explores trends like mergers and acquisitions that could reshape the industry, alongside emerging market dynamics and the lasting effects of COVID-19 and regional conflicts. By considering these factors, the report equips you with a comprehensive understanding of the challenges and opportunities that lie ahead.
The global shipping container market is riding a wave of growth, fueled by a surge in maritime shipping activity. This upswing is directly linked to the blossoming of trade agreements between nations, creating a greater demand for efficient cargo transportation. To ensure smooth global trade, these shipping containers are meticulously crafted according to the standardized specifications set by the International Organization for Standardization (ISO).
Market Dynamics :
Drivers
Increasing volume of international trade and the rise of trade agreements
The global shipping container market is riding a wave driven by two key forces: a surge in international trade and blossoming trade agreements. As nations engage in more cross-border business, the demand for efficient and reliable maritime cargo transportation skyrockets. Enter the humble shipping container. Manufactured to standardized specifications, these workhorses of the sea enable swift loading and unloading at ports, all while safeguarding the goods themselves
Restraints
Impact of geopolitical tensions and trade conflicts
The shipping container market isn't without its challenges. Geopolitical tensions and trade conflicts can throw a wrench in the smooth flow of international trade. These conflicts disrupt established routes, restrict the movement of goods, and create uncertainty for businesses. This translates to a slowdown in demand for shipping containers, as companies become hesitant to invest in transportation amidst trade disputes and ever-changing regulations. In essence, geopolitical tensions act as a brake on the market's growth potential.
Regional Impact
The Asia Pacific region reigns supreme in the global shipping container market, thanks to a confluence of factors. Firstly, it boasts a concentration of major container manufacturers, making it a production powerhouse. Secondly, its extensive coastline positions it perfectly for maritime trade. Finally, with government initiatives fueling growth in untapped markets like India and Indonesia, the future of Asia Pacific's dominance seems bright. However, Europe is poised to be the fastest-growing region. Heavily reliant on seaborne trade both internally and with the rest of the world (with 75% of goods traveling by sea), Europe presents a significant growth opportunity for the shipping container market.
The Infinium Global Research report dissects the global shipping container market across three key segments:
Container Size: This segment breaks down the market by the physical dimensions of the containers. It includes:
• Small Containers: Typically used for smaller cargo loads or specialized goods.
• Large Containers: The most common size, ideal for bulk cargo transportation.
Product Type: This segment focuses on the specific functionalities of the containers. It includes:
• Dry Storage Containers: General-purpose containers for weatherproof transportation of non-perishable goods.
• Flat Rack Containers: Open-topped containers ideal for oversized cargo that doesn't require full enclosure.
End User: This segment examines the industries that rely on shipping containers for their operations. It includes:
• Food & Beverages: Transporting a wide range of products, from dry ingredients to temperature-controlled meats and produce.
• Consumer Goods: From clothing and electronics to furniture and toys, containers keep consumer goods moving efficiently.
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Market key players
• China International Marine Containers
• COSCO SHIPPING Development Co. Ltd
• CXIC Group
• Singamas Container Holdings Limited
• TLS Offshore Containers
• YMC Container Solutions
• CARU Containers
• OEG OFFSHORE LIMITED
• W&K Containers, Inc.