Press release
Shipping Containers Market is set to Increase in Revenue up to US$ 13.7 Bn by the end of 2031
Shipping Containers Market 2022
The global shipping containers market is currently valued at close to US$ 7.9 Bn. Sales of shipping containers are projected to increase at 5.7% CAGR and top 2.1 Mn units by 2031. Focus on sustainability and adoption of digital technologies for production and shipment by OEMs are prominent trends being witnessed in this space.
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Global shipping container sales are set to increase in revenue from around US$ 7.9 Bn currently to US$ 13.7 Bn by the end of 2031, which would equate to 2.1 Mn units, according to latest market insights by Persistence Market Research. Growing need to transport products via waterways, which is both, economically feasible and secure, is majorly driving demand for shipping containers market.
Dry containers account for over 70% of the total market share, and have been the mainstay of the shipping industry over the years, especially dry insulated containers. Steel is the most widely used material for the manufacturing of shipping containers, representing 40% market share, and most manufacturers prefer its use as it makes the containers weldable and rust-resistant, and also provides higher corrosion resistance and tensile strength.
Key Companies-
• Table Lloyd AG
• Evergreen Marine Corp.
• Cleveland Containers
• BSL Containers Ltd.
• Sicom SpA
• China International Marine Containers Co., Ltd
• Maersk Container Industry
• Singamas Container Holdings Limited
• Sea Box, Inc.
• CXIC Group Containers Company Limited
• W&K Containers, Inc.
• YMC Container Solutions
• TLS Offshore Containers International
• OEG Offshore Limited
• CARU Containers B.V.
• Industrial Welding Equipment Sales & Rentals Limited (IWES Ltd.)
• Seaco Global Ltd.
• SM Line Corporation
• GTI Fabrication
• Blade Corporation
• MT Container GmbH
• Sarjak Container Lines
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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%.
• "Significant surge in demand from pharmaceutical industry for shipping containers is expected to offer lucrative opportunities for market players. Prices of shipping containers are on the rise due to strong demand where the supply rate is being outpaced," says a Persistence Market Research analyst.
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Find More Valuable Insights
The research report analyzes demand for shipping containers. The global market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background.
As per Persistence Market Research's study scope, the market has been analyzed on the basis of type, material, end user, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.
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