Press release
Shipping Containers Market Set to Reach $16.84 Billion by 2029 with 8.2% Yearly Growth
Shipping Containers Market Share
The growth of the shipping container market was fuelled by an increased demand for cargo transportation via ships. The preference for waterway transportation of goods is on the rise due to its cost-effectiveness and perceived security advantages compared to alternative transportation means. The U.S. Department of Transportation, a government department in the United States, reported in December 2023 that exports and imports accounted for 11.7% of tonnage and 20.6% of freight shipment values for 2023. These figures are anticipated to increase, with international trade forecasted to constitute 13.8% and 21.7% of tonnage and freight shipment values respectively across the United States by 2050. This forecast is expected to stimulate further growth in the shipping containers market.
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What Is the projected market size and growth rate for the shipping containers market?
The market size for shipping containers has seen a substantial rise in the past few years. It is projected to expand from $11.46 billion in 2024 to $12.27 billion in 2025, registering a compound annual growth rate (CAGR) of 7.0%. The surge during the historical phase can be linked to the emergence of multinational corporations, advancements in port infrastructure, industrialization and standardization of containers, economic progression and market consolidation, as well as enhancements in intermodal transportation.
Anticipated robust expansion is predicted for the shipping containers market in the upcoming years. The market is projected to reach $16.84 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.2%. The prospective growth during the predicted period can be related to its cultural and artistic utilization, significance in the hospitality and tourism industry, applications in pop-up retail and events, use in emergency housing and disaster relief, and solutions for logistics and warehousing. During the forecast period, notable trends receiving attention are modular construction, adoption of sustainable building materials, urbanization and housing necessities, pop-up retail and events, disaster relief and emergency housing, alongside customization and aesthetic design considerations.
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What new trends are reshaping the shipping containers market and its opportunities?
Leading firms in the shipping containers sector are concentrating their efforts on creating cloud-based solutions to enhance tracking, inventory administration, and logistics operations. Cloud-based solutions involve utilizing remote servers accessed over the Internet for data storage, management, processing, or running programs. For instance, Meratus, a shipping company based in Indonesia, introduced SMARCO-Smart Container in March 2023 to cater to the need for more secure and efficient container shipping. By incorporating cutting-edge Internet of Things (IoT) sensors, GPS tracking, and cloud-based solutions, SMARCO is predicted to offer companies the capability to fully monitor and manage their shipping containers.
What major market segments define the scope and growth of the shipping containers market?
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
Subsegments:
1) By Dry Storage Container: Standard Dry Container, High Cube Dry Container
2) By Flat Rack Container: Fixed End Flat Rack, Collapsible Flat Rack
3) By Refrigerated Container: Standard Refrigerated Container, High Cube Refrigerated Container
4) By Special-Purpose Container: Tank Container, Bulk Container, Offshore Container
5) By Open Top Container: Standard Open Top Container, High Cube Open Top Container
6) By Double Door Container: Standard Double Door Container, High Cube Double Door Container
7) By Other Product Types: Modified Containers, Portable Storage Units
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Which region dominates the shipping containers market?
Asia-Pacific was the largest region in the shipping containers market in 2024. The regions covered in the shipping containers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the shipping containers industry growth?
Major companies operating in the shipping containers market include 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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What Is Covered In The Shipping Containers Global Market Report?
•Market Size Forecast: Examine the shipping containers market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the shipping containers market for a structured understanding.
•Key Players Overview: Analyze major players in the shipping containers market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the shipping containers market.
•Segment Contributions: Evaluate how different segments drive overall growth in the shipping containers market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the shipping containers market.
•Industry Challenges: Identify potential risks and obstacles affecting the shipping containers market.
•Competitive Landscape: Review strategic developments in the shipping containers market, including expansions, agreements, and new product launches.
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