40 Feet High Cube Containers to Spur the Adoption of Dry and Reefer Containers in the Global Shipping Containers Market
Global Shipping Containers Market: Underlying Forces
There are several facets in the market that have impacted the market’s growth. The research report gives a brief on these underlying forces that influence the growth of the market in a positive as well as negative manner. Factors such as increasing demand for highly efficient and superior capacity containers for shipping across the globe, increasing sales of specialized containers for shipping purposes owing to increased demand for these containers, steady growth of seaborne trade, growing containerization, increasing application of RCM (Remote Container Management) solutions, increasing preference for 40 feet high cube containers, substantial demand for reefer containers and favorable government regulations pertaining to emissions that is pushing the use of eco-friendly refrigerants in shipping containers are expected to present good growth opportunities in the coming years. However, factors such as overcapacity, low freight rates and fluctuations in raw material prices are expected to hinder the growth of the global market for shipping containers in the years to follow.
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Global Shipping Containers Market: Segmental Screenshot
The global market for shipping containers is segmented on the basis of product type and region.
In the region category, Asia Pacific is estimated to reflect a high market share during the forecast period. The shipping containers market in Asia Pacific is expected to grow at the highest value CAGR throughout the period of assessment to reach a noteworthy market valuation higher than US$ 4 Bn by the end of the year of assessment (2025). Modernization of infrastructure and growth in the construction and infrastructure industry have led to the growth in trade, which in turn is anticipated to drive the demand for shipping containers in the APAC market. Asia Pacific region is the largest and is expected to lead the global market during the forecast period. Following APAC, Europe is anticipated to showcase significant market share in the global market. Europe is the second largest region in shipping containers market and reflected a market share of about 33% in 2017 and is expected to touch a valuation of around US$ 3500 Mn by the end of the year of assessment (2025).Middle East and Africa and Latin America regions are expected to reflect high growth rate during the assessment period.
In the product type category, dry containers segment is the largest with a high market valuation. This segment is expected to dominate the global market with a high value of over US$ 7.5 Bn by the end of the year of assessment and is projected to grow at a stellar value CAGR during the period of forecast. Reefer containers segment is the second most attractive segment contributing to the growth of the overall market. The reefer segment is projected to grow at the highest rate during the period of forecast. The growth of the parent market and both these segments is positively influenced by the increasing use of 20 feet containers and 40 feet high cube containers.
Global Shipping Containers Market: Forecast Analysis
According to the market research report on shipping containers, the global market is projected to grow at a value CAGR high than 8% during the forecast period and is estimated to reach value of over US$ 11 Bn by 2025 end from a value of around US$ 6 Bn in 2017.
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Global Shipping Containers Market: Competitive Landscape
The global shipping containers market research report includes profiles of leading players such as China International Marine Containers Co., Ltd., Singamas Container Holdings Limited, CXIC Group Containers Company Limited, Maersk Container Industry, Sea Box, Inc., W&K Container, YMC Container Solutions, TLS Offshore Containers International, OEG OFFSHORE LIMITED, CARU Containers B.V. and IWES LTD.
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