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2025-2034 Boiler, Tank, And Shipping Container Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Boiler, Tank, And Shipping Container Market
What Is the Expected CAGR for the Boiler, Tank, And Shipping Container Market Through 2025?
In recent times, the market size for boilers, tanks, and shipping containers has been progressively increasing. There is an anticipated rise from $223.75 billion in 2024 to $231.58 billion in 2025, indicating a Compound Annual Growth Rate (CAGR) of 3.5%. Factors such as industrialization, the surge in energy requirements, expansion of the oil and gas industry, infrastructure advancement, and the growth in maritime trade have contributed to this uptrend in the past years.
What's the Projected Size of the Global Boiler, Tank, And Shipping Container Market by 2029?
The market size for boilers, tanks, and shipping containers is anticipated to witness continuous growth in the forthcoming years, achieving a size of $272.18 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 4.1%. This forecasted growth can be associated with the shift in energy use, stringent environmental laws, the rise of digitalization and internet of things (IoT), advancements in the hydrogen economy, and developments in e-commerce and logistics. The prominent trends during this period will likely involve energy-saving boilers, automated tank farms, the application of containers in farming, advancements in tank coating and lining techniques, and the increased utilization of intermodal containers.
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Top Growth Drivers in the Boiler, Tank, And Shipping Container Industry: What's Accelerating the Market?
Advancements in wireless technology and miniaturization, the creation of smaller equipment components, are anticipated to fuel innovation in the manufacturing of boilers, tanks, and shipping containers, thereby propelling the market in the future. In addition, the deployment of technologies like 3D printing, artificial intelligence, and big data analytics in the manufacturing process is leading to increased productivity, reduced operating costs, and higher profit margins. For example, the Compass predicts that internet traffic will triple from previous levels in 2022 and the proportion of IoT devices will rise to 28% by 2025. This is likely to stimulate the boiler, tank, and shipping container manufacturing market in the upcoming years.
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Which Fast-Growing Trends Are Poised to Disrupt the Boiler, Tank, And Shipping Container Market?
Primary players in the boiler, tank, and shipping container market are striving to innovate with products like steam water tube boilers to increase efficiency, decrease emissions, and cater to a range of industrial requirements. Such boilers function by circulating water within tubes heated externally by steam or hot gases, making them capable of producing high-pressure steam for diverse industrial uses. As an example, Babcock Wanson UK Ltd, a machinery manufacturing company in the UK, introduced FM Pack Water Tube Boilers in January 2023. These boilers are engineered for high steam production, intense pressure, and superheated steam operations. They promise superior efficiency, robustness and flexibility to various fuel types and emissions norms.
What Are the Main Segments in the Boiler, Tank, And Shipping Container Market?
The boiler, tank, and shipping container market covered in this report is segmented -
1) By Type: Power Boiler And Heat Exchanger, Metal Tank (Heavy Gauge), Metal Can, Box, and Other Metal Container (Light Gauge)
2) By Product Type: Refrigerated Container, Dry Storage Container, Special Purpose Container, Flat Rack Container, Other Product Types
3) By Container Size: Small Containers, Large Containers, High Cube Container
4) By Application: Residential, Commercial, Other Applications
Subsegments:
1) By Power Boiler And Heat Exchanger: Water Tube Boilers, Fire Tube Boilers, Waste Heat Boilers, Heat Exchangers
2) By Metal Tank (Heavy Gauge): Storage Tanks, Pressure Tanks, Industrial Tanks
3) By Metal Can: Metal Cans, Canned Food Containers, Beverage Cans
4) By Box: Metal Boxes, Packaging Boxes, Shipping Boxes
5) By Other Metal Container (Light Gauge): Light-Gauge Metal Containers, Metal Pails and Buckets, Metal Crates
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Which Top Companies are Driving Growth in the Boiler, Tank, And Shipping Container Market?
Major companies operating in the boiler, tank, and shipping container market include Ball Corporation, China International Marine Containers (Group) Ltd., General Electric Company, Alfa Laval AB, Ardagh Group S.A., Doosan Heavy Industries & Construction Co. Ltd., Pacific International Lines (Private) Limited, BWX Technologies Inc, CIMC Enric Holdings Limited, A.P. Møller-Mærsk A/S, Novelis Inc., Rio Tinto Group, Alcoa Corporation, United Co RUSAL PLC, Aluminum Corporation of China Limited (CHALCO), Glencore International, Emirates Global Aluminum, Norsk Hydro ASA, Angang Steel Company Limited, Steel Authority of India Limited, SSAB AB, Nucor Corp, Compagnie de Saint-Gobain S.A., Nippon Steel & Sumitomo Metal Corporation, Vallourec SA, Voestalpine AG, Mechel PAO, Atlas Copco AB, Metso Oyj.
Which Regions Will Dominate the Boiler, Tank, And Shipping Container Market Through 2029?
Asia-Pacific was the largest region in the boiler, tank, and shipping container market in 2024. Western Europe was the second largest region in the boiler, tank, and shipping container market. The regions covered in the boiler, tank, and shipping container market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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