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Shipping Containers Market To Reach US$ 13.7 Bn By The End Of 2031
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With flexible production being in demand, autonomous handling systems and robots are expected to adapt to changing requirements faster. Besides, those moving around with “domain+” skills would be on the top of the recruiters’ agenda.
Augmented reality solutions are being asked for IoT functionality is capable of tracking and evaluating production quotas, expanding control rooms, and creating various models related to predictive maintenance. Industry 4.0 workforce would, indeed, be complementing robotics. Persistence Market Research is endowed with expertise herein in the form of consultants and analysts.
Key Takeaways from Market Study
• Key manufacturers are inclined toward 40 feet high cube containers as compared to 40 feet conventional containers as they provide around 12% more carrying capacity.
• Inclusion of specially constructed features to speed up loading & unloading while keeping containers secure will drive the global market.
• Demand is high for uniquely configured specialized shipping containers to protect and support content while being handled, shipped, stored, and unpacked by users.
• Market players are developing new materials such as hybrid and fiber-reinforced polymer (FRP) to reduce the weight of containers, which helps in cutting expenses on labor and installation.
• Steel shipping containers account for 40% market share.
• Dry shipping containers account for over 70% of the global market share.
• The global shipping containers market witnessed a slump in 2020 due to the COVID-19 pandemic, with a recorded growth of -4.4%.
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Competitive Landscape
The market is understood to be moderately consolidated in nature, with key players accounting for around 35% of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in this industry are Hapag Lloyd AG, Evergreen Marine Corp. and others, Cleveland Containers, BSL Containers Ltd., Sicom SpA, China International Marine Containers Co., Ltd., and Maersk Container Industry, amongst others.
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