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Shipping Containers Market 2024 Key Players, Analysis, Share, Trends And Forecast To 2033
Shipping Containers Market
Shipping Containers Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $15.53 billion In 2028 At A CAGR Of 7.5% :
The shipping containers market size has grown strongly in recent years. It will grow from $10.81 billion in 2023 to $11.62 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to rise of multinational corporations, port infrastructure development, industrialization and container standardization, economic growth and market integration, intermodal transportation advancements.
The shipping containers market size is expected to see strong growth in the next few years. It will grow to $15.53 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to cultural and artistic use, hospitality and tourism sector, pop-up retail and events, disaster relief and emergency housing, logistics and warehousing solutions. Major trends in the forecast period include modular construction, sustainable building materials, urbanization and housing needs, pop-up retail and events, disaster relief and emergency housing, customization and design aesthetics.
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Shipping Containers Market Major Segments
The shipping containers market covered in this report is segmented -
1) By Product Type: Dry Storage Container, Flat Rack Container, Refrigerated Container, Special-Purpose Container, Open Top Container, Double Door Container, Other Product Types
2) By Container Size: Small Container, Large Container, High Cube Container
3) By End Use: Food And Beverages, Consumer Goods, Healthcare, Industrial Products, Vehicle Transport, Other End-Uses
Key Driver - Rising Cargo Transportation Demand Fuels Growth In The Shipping Container Market
An increase in demand for cargo transportation through ships contributed to the growth of the shipping container market. The demand for the transportation of cargo through waterways is growing owing to factors such as cost-efficiency and a more secure way of moving goods as compared to other means of transportation. For instance, in September 2022, according to Eurostat, a Luxembourg-based statistical agency of the European Union, the volume of European road freight increased by 6.5% between 2020 and 2021, primarily due to significant growth in all types of operations. This in turn is projected to boost the growth of the shipping containers market.
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Prominent Trend - Cost Implications Hindering Growth In The Shipping Container Market
The high costs associated with shipping containers are expected to restrain the growth of the shipping container market. The price of shipping containers depends on their size and condition. The bigger the container, the higher the price and, the newer the unit, the more expensive it could be. For instance, in the USA, the average cost for a used container is around $2,000. The larger 40' unit that could be altered for houses ranges from $3,000 to $4,000 for the used one and is approximately $6,000 for a brand-new unit. Moreover, there are other costs such as shipping container home plans, and foundation costs involved which make them less affordable for purchase. Thus, the high costs of shipping containers are projected to limit the growth of the shipping container market over the forecast period.
Shipping Containers Market Players
Major companies operating in the shipping containers market report are A.P. Moller-Maersk Group, China International Marine Containers (Group) Co Ltd. (CIMC), COSCO SHIPPING Development Co Ltd., Triton International Limited, CXIC Group Containers Company Limited, Container Corporation of India Limited, Textainer Group Holdings Limited, Shanghai Universal Logistics Equipment Co Ltd., Maersk Container Industry A/S, THIELMANN Group, OEG Offshore Limited, Sea Box Inc., Hoover Container Solutions, Florens Container Services B.V., Cronos Containers Ltd., BSL Containers Ltd., CARU Containers B.V., Charleston Marine Containers Inc., Klinge Corporation, UES International Pty Ltd, TLS Offshore Containers International Pvt Ltd, SCHüTZ Container Systems Inc., Pacific Tycoon Limited, W&K Containers Inc., American Intermodal Container Manufacturing Inc. (AICM), Storstac Inc., TRS Containers, Rava Group Containers, Skelton Container Services Ltd., Global Container Solutions Ltd.
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the shipping containers market in 2023. The regions covered in the shipping containers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Shipping Containers Market Report Structure
3. Shipping Containers Market Trends And Strategies
4. Shipping Containers Market - Macro Economic Scenario
5. Shipping Containers Market Size And Growth
…..
27. Shipping Containers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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