Shipping Containers Market Size
|Study Period:||2019 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
|CAGR:||> 4.3 %|
*Disclaimer: Major Players sorted in no particular order
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Shipping Containers Market Analysis
The size of Shipping Containers market is USD 9.25 billion in the current year and is anticipated to register a CAGR of over 4% during the forecast period.
- As per reports, with the pandemic's reduction, the shipping environment should become more steady than during 2019-2021. It is anticipated that by post-pandemic, international container exports will increase by 2-3%. This is owing to the delayed revival of the maritime shipping sector and the backlogs from previous year. Additionally, it is anticipated that port congestion will return to normal in the upcoming period.
- Although maritime freight costs have dropped recently, they are still almost ten times more than before the pandemic. According to experts, the demand and supply balance in the container market will remain constant through at least the middle of 2022. Additionally, a 30% reduction in container shipping costs is anticipated over the next few months.
- Purchasing new ships is the simplest option for shipping corporations to address the space problem. For fleet expansion, shipping firms invest in new and used boats. This is a big move to address the threats from the competition and the issues facing the sector.
- For example, CMA CGM has strengthened its position in the Baltic region by purchasing ten ice-breaking cargo ships. Shipping companies like Maersk and CMA CGM are growing their fleets and purchasing aircraft fleets. The Mediterranean Shipping Company has entered the cruise ship business after purchasing 12 new ships.
Shipping Containers Industry Segmentation
Shipping containers are used to transport and carriage goods without the need for unloading and reloading at intermediate points. These containers facilitate the transport of goods via land- and sea-borne transportation involving ships, rails, and trucks. A complete background analysis of the Shipping Containers Market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for critical segments, emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact is included in the report.
The Shipping Containers Market is Segmented by Size (Small Container (20 Feet), Large Container (40 Feet), and High Cube Container), Type (Dry Storage Container, Refrigerated Container, and Tank Container), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America). The report offers market size and forecasts in values (USD billion) for all the above segments.
|Small Container (20 Feet)|
|Large Container (40 Feet)|
|High Cube Container|
|Dry Storage Container|
Shipping Containers Market Trends
This section covers the major market trends shaping the Shipping Containers Market according to our research experts:
Increase in Demand for Cargo Transportation through Ships Driving the Market
- Despite these setbacks, world trade rose to record levels in 2021. UNCTAD predicted global trade to expand by 23% from 2020 to approximately USD 28 trillion in 2021. Trade in goods reached record levels in the third quarter of 2021, and trade in services grew faster but still lagged behind pre-pandemic levels. During the second half of 2021, global trade growth steadied and increased by 1% Q-o-Q. Although trade growth has remained uneven among nations and industries, it has a more extensive base in the third quarter of 2021 than in the first and second quarters.
- Due to an anticipated rise in regional trade cooperation within Africa and the Asia-Pacific region, geopolitical factors such as regionalization of trade flows and implementation of regional trade agreements, such as the Regional Comprehensive Economic Partnership and the African Continental Free Trade Area, may have an impact on global trade patterns.
- In addition to the aforementioned key variables, the economic recovery from the pandemic in 2021 has been marked by significant and erratic swings in demand, which have increased the stress on supply chains and resulted in a scene never before seen of disruptions in logistical networks and unheard-of increases in shipping costs.
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Demand for Dry Containers offering traction to the market
- The majority of dry bulk (62%), which climbed by 14% in 2021 to reach 59.9 million tonnes, was made up of dry bulk. An increase in biomass, which reflects the transition to renewable fuels, can be partly blamed for the expansion in this category during the previous few years. According to research, wood pellets make up the majority of the biomass burned in UK power plants. These trade figures reveal that wood pellet imports have increased five-fold over the last ten years, but this does not fully explain the pattern because the increase in other dry bulk is greater than the increase in wood pellets.
- Sea dredging aggregates provide another factor for the rise in other dry bulk, as seen by a high 29% increase in domestic one-port traffic in 2021. Traffic to and from offshore areas, including sea dredging, is included in one-port tonnage. Construction uses sea dredging aggregates, and according to the ONS, overall construction production climbed 12.7% in 2021 over 2020.
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Shipping Containers Industry Overview
The Shipping Containers Market is consolidated, with a few players dominating the market. The top 3 companies hold more than 70% of the market share. The leading shipping container vendors include China International Marine Containers (Group) Ltd (CIMC), Dong Fang International Container (Hong Kong) Co. Ltd, and Maersk Container Industry AS. Digitalization is shaping the industry as companies are working to increase their freight volume despite the challenges rising in the market.
Shipping Containers Market Leaders
China International Marine Containers Co. Ltd
Maersk Container Industry AS
CXIC Group Containers Co., Ltd.
Singamas Container Holdings Ltd.
Dong Fang International Container (Hong Kong) Co. Ltd
*Disclaimer: Major Players sorted in no particular order
Shipping Containers Market News
- August 2022: Global shipping container suppliers China International Marine Containers and Maersk Container Industry in a joint statement said they have abandoned a merger plan, citing significant regulatory challenges. China International Marine Containers (CIMC) in September 2021 had agreed to buy the Danish shipping company AP Moeller – Maersk refrigerated containers maker for USD 987.3 million. The U.S. Justice Department said the deal would have combined two of the world's four suppliers of refrigerated shipping containers and further concentrated the global cold supply chain.
- May 2022: The Mazagon Dock Shipbuilders entered into the container manufacturing business after receiving an order from the Container Corporation of India Ltd (CONCOR) for 2,500 cargo-carrying steel boxes. These containers are likely to cost between INR 35 million (USD 0.43 million) and INR 40 million (USD 0.49 million) each. This puts the whole deal value at around INR 1 million (USD 12.18 million). CONCOR is introducing 12 feet containers for the first time in India and they are considered to be more useful than dwarf containers. Indian exporters were hit by the shortage of containers amidst the Covid-19 pandemic in 2020. Since then, there have been consistent calls to enhance the local production of the same.
Shipping Containers Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS DYNAMICS
4.1 Market Overview
4.2 Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunities
4.3 Value Chain / Supply Chain Analysis
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Technological Advancements
4.6 Spotlight on the Emergence of Intermodal Transport and Rail
4.7 Effect of Freight Rates on the Container Industry
4.8 Insights on Global Container Leasing Market
4.9 Pricing Analysis – Different Type of Containers
4.10 Impact of COVID-19 on the market
5. MARKET SEGMENTATION
5.1 By Size
5.1.1 Small Container (20 Feet)
5.1.2 Large Container (40 Feet)
5.1.3 High Cube Container
5.2 By Type
5.2.1 Dry Storage Container
5.2.2 Refrigerated Container
5.2.3 Tank Container
5.3 By Geography
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.3.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 United Arab Emirates
18.104.22.168 Saudi Arabia
22.214.171.124 Rest of the Middle East and Africa
5.3.5 Latin America
126.96.36.199 Rest of the Latin America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 TLS Offshore Containers International Pvt. Ltd
6.2.2 China International Marine Containers Co. Ltd
6.2.3 Maersk Container Industry AS
6.2.4 W&K Container Inc.
6.2.5 Singamas Container Holdings Limited
6.2.6 YMC Container Solutions
6.2.7 Sea Box Inc
6.2.8 Dong Fang International Container (Hong Kong) Co. Ltd
6.2.9 CXIC (Changzhou Xinhuachang Int'l Containers) Co. Ltd
6.2.10 Storstac Inc.
6.2.11 China Eastern Containers
6.2.12 CARU Containers BV
6.2.13 American Intermodal Container Manufacturing Company (AICM)
6.2.14 Valisons & Co.
6.2.15 Ritveyraaj Cargo Shipping Containers*
7. FUTURE OF THE MARKET
Shipping Containers Market Research FAQs
What is the study period of this market?
The Shipping Containers Market is studied from 2019 - 2028.
What is the growth rate of Shipping Containers Market?
The Shipping Containers Market is growing at a CAGR of >4.3% over the next 5 years.
Which region has highest growth rate in Shipping Containers Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Shipping Containers Market?
Asia Pacific holds highest share in 2022.
Who are the key players in Shipping Containers Market?
China International Marine Containers Co. Ltd, Maersk Container Industry AS, CXIC Group Containers Co., Ltd., Singamas Container Holdings Ltd., Dong Fang International Container (Hong Kong) Co. Ltd are the major companies operating in Shipping Containers Market.
Shipping Containers Industry Report
Statistics for the 2023 Shipping Containers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Shipping Containers analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.