Shipping Container Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Global Shipping Container Industry 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.

Shipping Container Market Size

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Shipping Containers Market Summary
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Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR > 4.30 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Shipping Containers Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Shipping Container 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 Container 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.
Shipping Containers Market - Containerized Cargo Flows on Major Container Trade Routes

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.
Shipping Containers Market - Dry Cargo in International Maritime Trade

Shipping Container 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 Container Market Leaders

  1. China International Marine Containers Co. Ltd

  2. Maersk Container Industry AS

  3. CXIC Group Containers Co., Ltd.

  4. Singamas Container Holdings Ltd.

  5. Dong Fang International Container (Hong Kong) Co. Ltd

*Disclaimer: Major Players sorted in no particular order

Shipping Containers Market Concentration
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Shipping Container 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 Container Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Dynamics

      1. 4.2.1 Market Drivers

      2. 4.2.2 Market Restraints

      3. 4.2.3 Market Opportunities

    3. 4.3 Value Chain / Supply Chain Analysis

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

    5. 4.5 Technological Advancements

    6. 4.6 Spotlight on the Emergence of Intermodal Transport and Rail

    7. 4.7 Effect of Freight Rates on the Container Industry

    8. 4.8 Insights on Global Container Leasing Market

    9. 4.9 Pricing Analysis - Different Type of Containers

    10. 4.10 Impact of COVID-19 on the market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Size

      1. 5.1.1 Small Container (20 Feet)

      2. 5.1.2 Large Container (40 Feet)

      3. 5.1.3 High Cube Container

    2. 5.2 By Type

      1. 5.2.1 Dry Storage Container

      2. 5.2.2 Refrigerated Container

      3. 5.2.3 Tank Container

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Middle East and Africa

        1. 5.3.4.1 South Africa

        2. 5.3.4.2 United Arab Emirates

        3. 5.3.4.3 Saudi Arabia

        4. 5.3.4.4 Rest of the Middle East and Africa

      5. 5.3.5 Latin America

        1. 5.3.5.1 Mexico

        2. 5.3.5.2 Brazil

        3. 5.3.5.3 Argentina

        4. 5.3.5.4 Rest of the Latin America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Concentration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 TLS Offshore Containers International Pvt. Ltd

      2. 6.2.2 China International Marine Containers Co. Ltd

      3. 6.2.3 Maersk Container Industry AS

      4. 6.2.4 W&K Container Inc.

      5. 6.2.5 Singamas Container Holdings Limited

      6. 6.2.6 YMC Container Solutions

      7. 6.2.7 Sea Box Inc

      8. 6.2.8 Dong Fang International Container (Hong Kong) Co. Ltd

      9. 6.2.9 CXIC (Changzhou Xinhuachang Int'l Containers) Co. Ltd

      10. 6.2.10 Storstac Inc.

      11. 6.2.11 China Eastern Containers

      12. 6.2.12 CARU Containers BV

      13. 6.2.13 American Intermodal Container Manufacturing Company (AICM)

      14. 6.2.14 Valisons & Co.

      15. 6.2.15 Ritveyraaj Cargo Shipping Containers*

    3. *List Not Exhaustive
  7. 7. FUTURE OF THE MARKET

  8. 8. APPENDIX

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Shipping Container 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.

By Size
Small Container (20 Feet)
Large Container (40 Feet)
High Cube Container
By Type
Dry Storage Container
Refrigerated Container
Tank Container
By Geography
North America
United States
Canada
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East and Africa
South Africa
United Arab Emirates
Saudi Arabia
Rest of the Middle East and Africa
Latin America
Mexico
Brazil
Argentina
Rest of the Latin America
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Shipping Container Market Research FAQs

The Shipping Containers Market is projected to register a CAGR of greater than 4.30% during the forecast period (2024-2029)

China International Marine Containers Co. Ltd, Maersk Container Industry AS, CXIC Group Containers Co., Ltd., Singamas Container Holdings Ltd. and Dong Fang International Container (Hong Kong) Co. Ltd are the major companies operating in the Shipping Containers Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in Shipping Containers Market.

The report covers the Shipping Containers Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Shipping Containers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Shipping Container Industry Report

Statistics for the 2024 Shipping Container market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Shipping Container analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Shipping Container Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)