Shipping Container Market Size, Share | Industry Trends 2022-28

The global shipping container market size was valued at USD 9.7 billion in 2021 and is poised to grow at a significant CAGR of 4.7% during the forecast period 2022-28. A container that is strong enough to withstand handling, storage, and shipping is called a shipping container. Large reusable steel boxes for intermodal shipments and common corrugated boxes are two examples of these containers. The containers can be securely packed on a ship or yard and are used to bundle freight and items into huge unitized loads that are easy to handle, transfer, and stack. They are similar to cardboard boxes and pallets. Often, steel and aluminium are used to make them. Each container complies with the requirements and guidelines established by the International Organization for Standardization in terms of size and construction type (ISO).

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Shipping Container Market Growth Factors:
The market for shipping containers is expanding as a result of factors like rising trade agreements and rising demand for cargo transportation via ships. Moreover, changes in the price of inventory and transportation restrain the market expansion for shipping containers. However, throughout the projected period, factors like the expected trend of automation in sea transportation and the rise in marine safety requirements are expected to create chances for the expansion of the shipping container market. Between industrialised and developing countries, a number of trade-related agreements have been made to move goods from one area to another. This has made it possible for the providers to use waterways as a more effective and reliable mode of transportation. Due to this rising tendency, manufacturers of cargo containers have created better, more effective containers in a variety of sizes and designs. As a result, the market is growing faster. Also, the free trade agreement has made it possible to lower taxes and customs. Furthermore, commercial operations have increased as exporters and importers are no longer required to pay taxes to the government. Governments in trade blocs are removing restrictions and liberalising trade.

The global shipping container market segmentation:
1) By Product Type: Dry Storage Containers, Flat Rack Containers, Refrigerated Containers, Special Purpose Containers, Others
2) By Container Size: Small Containers (20 feet), Large Containers (40 feet), High Cube Containers (40 feet)
3) By End User: Food & Beverages, Consumer Goods, Healthcare, Industrial Products, Vehicle Transport, Others.

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Shipping Container Market Regional Analysis:
Throughout the forecast period, Asia-Pacific is anticipated to dominate the worldwide shipping container market. This trade is crucial to the region's economic development because the region's dominant position in the global market is mostly due to the active marine trade that comes from Asia-Pacific nations like China, Japan, India, and South Korea, among others. Significant exports, rising manufacturing, and trade-related activities within the region are all expected to contribute to the market's continued expansion. These elements ought to be present everywhere in these nations.

Major players working in the Shipping Container Market are P. Moller - Maersk, Bertschi AG, BNH Gas Tanks, Bulkhaul Limited., CARU Containers, China International Marine Containers (Group) Ltd.

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This release was published on openPR.