Shipping Container Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation

Shipping Container Market Definition:

A shipping container is a container with strength suitable to withstand shipment, storage, and handling. Shipping containers range from large reusable steel boxes used for intermodal shipments to the ubiquitous corrugated boxes.

 

Further, the Shipping Container market is segmented by Size, Type, and geography. Based on Size, the Shipping Container market is segmented under, 20 feet, 40 feet, and Others. Based on the Type, Dry Storage Container, Flat Rack Container, Open Top Container, Refrigerated Container, and Insulated or thermal Container. By geography, the market covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done based on value (in USD Billion).

 

 

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Shipping Container Market Dynamics:

Increase in demand for cargo transportation through ships:

Cargo shipping is used to transport cargo and goods from cargo ships, vessels, and others. The rising demand for import and export activities is expected to boost the adoption of the product. The shipping’s lower cost and effective and cheap transportation is expected to boost its adoption. Also, strict emission norms by governments are expected to substitute the acceptance of cargo shipping. Besides, rising financial liberalization in developing countries is expected to boost the product’s adoption. These factors may fuel the market development in the upcoming years. As per the records of UNCTAD, approximately 1987 million tons of cargo is transported every year in around 187.6 million containers covering 988 billion tons-miles. This leads to the growth of the shipping container market and eventually the cargo industry growth.

 

The increase in trade-related agreements:

To transport goods from one place numerous trade-related agreements have been carried out between the developed and the developing nations. This has allowed the suppliers to choose waterways as an improved and more efficient means of transportation. This increased inclination has led cargo container manufacturers to develop better and more efficient containers of different shapes and sizes. These factors are boosting the growth of the market. Also, the free trade agreement has enabled a decrease in duties and taxes. Further, there has been a rise in trade activities such as exports and imports need not pay taxes to the government. Hence, the rise in trade-related agreements leads to the robust demand for shipping containers through the forecast periods.

 

Fluctuations in transportation and inventory costs:

Carrying goods from one place to another requires a suitable mode of transportation, which leads to efficient usage of the medium. The cost incurred in transportation and holding inventory is another important factor that has a negative impact on logistics. Price is the most significant factor that affects the overall logistics services from the first function till the goods are delivered. This continuous fluctuation in transportation and inventory cost of the material has affected the shipping industry by allowing the customers to choose different methods to transport the goods, which eventually suppresses the growth of the global shipping container market. These factors are further creating an upcoming opportunity for the growth of the Shipping Container Market through the forecast period.

 

Space Constraint:

Containers, whether carrying cargo or empty, take up a lot of space. Terminals need to have enough stacking space to lodge containers that come in and go out of it. Containers that must go out first must not be at the bottom of a stack. This is one of the major factors that can restrain the growth of the Shipping Container Market through the forecast period.

 

Shipping Container Market Segment Analysis:

By Type, the Shipping Containers Market is segmented into Dry Storage containers, Flat Rack Container, Open Top Container, Refrigerated Container, Insulated Container, and Special Purpose Container. The Dry Storage Container has dominated the largest Market share accounting for 42% in 2021 and is expected to grow at a cage of xx% during the forecast period. As there has been significant growth in intermodal transportation. Intermodal transportation is gaining popularity because it requires low investments and is highly efficient and environmentally friendly. This transportation offers door-to-door delivery along with a shorter delivery time. It also ensures the safety of the cargo and involves the use of different routes. Intermodal transportation involves only a few idle periods during the operation and is easy to track. These factors are increasing the demand for the Dry Storage containers through the forecast period.

 

By Size, The Shipping Container Market is segmented into 20 feet, 40 feet, and others. The 40 feet segment has dominated the largest Market share accounting for 42% in 2023 and is expected to grow at a cage of XX% during the forecast period. As this provides double space which is more than 20 feet of container for the large volume of goods to transport. These large-sized containers are widely used for trade lines. These factors are leading to the growth of the Shipping Container Market through the forecast period.

 

 

Leading Container ship fleet Capacities in selected countries Worldwide.  

Countries	Capacity in 1000 TEUs
Denmark	1407
China	758
Germany	588
France	239
Japan	231
Taiwan	174
Greece	48
Canada	1
Great Britain	101

 

Shipping Container Market Regional Insights:

The Asia Pacific region held the largest market share accounting for 3.18% in 2023. As China is a leader in the market in terms of the volume of the region. This is because of the presence of global shipping container manufacturers and even the large availability of the coastal lines. This is leading to the growth of the Shipping Container market through the forecast period in this region.

 

The European region is expected to witness significant growth at a CAGR of XX% in 2023 through the forecast period. This is because the improvement in the transportation services in the region is driving the growth of the market. Also, there is a rise in the trend of renting a shipping container is growing in this region. Hence these factors are leading to the growth of the Shipping Container Market through the forecast period in this region.

 

Shipping Container Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Global Shipping Container market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Shipping Container market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Global Shipping Container Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Shipping Container market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global Shipping Container market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Global Shipping Container market.

 

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Global Shipping Container market. The report also analyses if the Global Shipping Container market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Shipping Container market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Shipping Container market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Shipping Container market is aided by legal factors.

 

Shipping Container Market Scope:

Shipping Container Market
Market Size in 2023	USD 12.87 Bn.
Market Size in 2030	USD 22.20 Bn.
CAGR (2024-2030)	8.1%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Size 20 feet 40 feet Others
	by Type Dry Storage Container Flat Rack Container Open Top Container Refrigerated Container Insulated or thermal Container Special Purpose Container
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Shipping Container Market Key Players: 

• TLS Offshore Containers International Pvt. Ltd
• China International Marine Containers Co. Ltd
• Maersk Container Industry AS
• W&K Container Inc.
• Singamas Container Holdings Limited
• YMC Container Solutions
• Sea Box Inc
• Dong Fang International Container (Hong Kong) Co. Ltd
• CXIC (Changzhou Xinhuachang Int'l Containers) Co. Ltd
• Storstac Inc.
• China Eastern Containers
• CARU Containers BV
• American Intermodal Container Manufacturing Company (AICM)
• Valisons & Co.
• Ritveyraaj Cargo Shipping Containers