Shipping Containers Market to Reach $12.08 Billion by 2027, Growing at 4.3% CAGR: Market Insights and Projections

According to a recent report published by Allied Market Research, titled, "Shipping Containers Market by Container Size, Product Type, and End Use: Opportunity Analysis and Industry Forecast, 2020-2027,"the global shipping containers market was valued at $8.70 billion in 2019, and is projected to reach $12.08 billion by 2027, registering a CAGR of 4.3% from 2020 to 2027.

𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐃𝐞𝐭𝐚𝐢𝐥𝐬- https://www.alliedmarketresearch.com/shipping-containers-market

Asia-Pacific dominates the market in terms of growth, followed by Europe, LAMEA, and North America. China dominated the global shipping containers market share in 2019, whereas Malaysia is expected to grow at a significant rate in the shipping containers market during the forecast period.

Shipping container is a standardized reusable steel box used for the storage and movement of materials and products within a freight transport system. ISO or intermodal containers are used for the intermodal transport of freight. They are manufactured according to specifications from the International Organization for Standardization (ISO) and are suitable for multiple transportation methods such as truck, rail, or ship. These regulations define a shipping containers that meet size, strength, and durability requirements. The basis of these regulations is to guarantee that the container is expected to withstand extreme environments endured during transport as well as possess the structural integrity that needs to be lifted by cranes or other heavy equipment.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 - https://www.alliedmarketresearch.com/request-sample/2168

The dry storage container segment in product type segmentation was the highest revenue contributor to the global shipping containers market in 2019. Also, small containers (20 feet) dominated the market in 2019 and is expected to maintain its position throughout the forecast period. Asia-Pacific is projected to remain the prime revenue contributor throughout the forecast period, and is expected to maintain the lead throughout the forecast period.

This was attributed to an increase in seaborne trade, and rise in trend of containerization of products worldwide. China accounted for a major share of the Asia-Pacific market. LAMEA is anticipated to experience a faster growth rate as compared to North America during the forecast period. This is due to the availability of larger coastal line and increase in dependency over seaborne trade by countries in this region.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 - https://www.alliedmarketresearch.com/shipping-containers-market/purchase-options

The size of containers segment is segmented into small containers (20 feet), large containers (40 feet), and high cue containers (40 feet). In 2015, the small containers segment occupied a majority of the market share and is expected to maintain its dominance throughout the forecast period (2017-2023). This is due to increase in manufacturing facilities, and growing import and export of commodities by countries worldwide. The high cube containers segment is anticipated to grow at the highest CAGR, owing to long life span, modest maintenance cost, and versatility of the container attached to it.

Factors such as increase in demand for cargo transportation through ships and rise in trade-related agreements supplement the growth of the shipping containers market. Moreover, factors such as fluctuations in transportation and inventory costs hamper the growth of the shipping containers market. However, factors such as anticipated trend of automation in marine transportation and increase in marine safety norms are the expected to provide opportunities for the growth of the shipping containers market during the forecast period.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/2168

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲
By container size, the small containers (20 feet) generated the highest revenue in 2019.
By product type, the dry storage containers segment was the highest revenue contributor in 2019.
By region, Asia-Pacific contributed the highest market revenue in 2019, followed by Europe, North America, and LAMEA.
Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
A.P. Moller-Maersk Group, CARU containers, China International Marine Containers, COSCO SHIPPING Development Co., Ltd, CXIC Group, OEG Offshore Limited, Singamas Container Holdings Limited, TLS Offshore Containers International, W&K Containers, Inc., and YMC Container Solutions.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :
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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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This release was published on openPR.