Shipping Containers Market - Growth, Trends, COVID-19 Impact, and Forecast (2021-2026)

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, and Rest of the World).

Market Snapshot

Shipping Containers Market Overview
Study Period: 2017-2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: 4.3 %
Shipping Containers Market Major Players

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Market Overview

The shipping containers market is anticipated to register a growth rate of 4.3% during the period (2021-2026). COVID-19 impacted the global container shipping capacity, with 11% of sailings canceled in May 2020 on all the mainline trades. Commodity vessels, such as dry bulk and tanker vessels, have seen lower demand and lower freight rates. There have been reports that Very Large Containership Vessels (VLCVs) are leaving Chinese ports filled to just 10% of their capacity. Some companies suspended certain manufacturing activities in January 2020 due to the mandatory government quarantine measures to control the epidemic's spread. The production resumed lately in mid of February 2020 in Chinese provinces.

According to industry reports, the air mode of transport will be the most preferred for COVID-19 vaccine distribution globally due to the urgency. There will be a huge demand for marine reefer containers to transport the vaccine as well. It is estimated that over 60,000 reefer containers will be required to distribute the vaccine over two to three years.

At present, reefer containers are used to transport pharma products and perishables. There is no clear picture on whether a significant number of the existing reefer containers will be diverted to distribute the vaccine or new containers will enter the market to meet the likely surge in demand. The indicated production locations of the vaccine are India, China, France, the United Kingdom, Switzerland, Russia, Japan and Brazil, and the United States. 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.

Scope of the Report

Shipping containers are used in the transport and carriage of goods without the need for unloading and reloading at intermediate points. These containers facilitate transport of goods via land- and sea-borne modes of transport, involving ships, rails, and/or trucks.

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, and the Rest of the World).The report offers market size and forecasts for shipping containers market in value (USD billion) for the above-mentioned 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
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
South Korea
India
Rest of Asia-Pacific
Rest of the World

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Key Market Trends

Increase in Demand for Cargo Transportation through Ships

According to industry reports, maritime shipping will remain the largest contributor to global ton-kilometer. Ships will carry out more than three-quarters of all goods movements by 2050. Maritime shipping covers most of the movement of goods over long distances, which will continue to be the case in the coming years. The current demand pathway projects that maritime freight transport will grow at a compound annual growth rate of 3.6% through 2050. This will lead to a near tripling of maritime trade volumes by 2050.

Cargo rollovers at Asia’s main hub ports rose sharply through December 2020, as the rising container demand from the United States and Europe overwhelmed terminals and carrier capacity, despite the deployment of all available vessels and extra loaders on both trades.

The strength of the recovering demand from the United States and Europe, following second-quarter 2020 economic lockdowns, surprised the container shipping market. Carriers reinstated the available capacity to cope with the rising volume through a peak season that began in July 2020 and August 2020 on the trans-pacific and Asia-Europe trades, which continued into 2021.

Several carriers also deployed extra loaders or sweeper vessels to cope with the rising demand. However, it was not enough to reduce rollover ratios, indicating that cargo levels are still rising. In contrast, the extra loader capacity, which has been deployed to meet the raised demand levels, appears to have little effect.

The demand for the transportation of cargo through waterways is growing due to factors such as cost-efficiency and a secured way of moving goods compared to other means of transportation.

Shipping Containers Market Key Trends

Demand for Dry Ccontainers

One of the key factors that will stimulate growth in dry containers is the growth in intermodal transportation. Intermodal transportation is gaining popularity because it requires low investments, and it is highly efficient and environmentally friendly. This transportation offers door-to-door delivery with a shorter delivery time. It also ensures the safety of the cargo and involves the use of different routes. Intermodal transportation involves only a few idle periods during the operation, and it is easy to track.

Shippers highly prefer intermodal transportation due to the introduction of technological advancements such as computerized vehicle routing, online freight exchange, and active traffic management.

An increase in the demand-supply scenario of manufacturing and construction industries worldwide is likely to propel the demand for dry containers. Additionally, an increase in the number of lease and rent services of containers for logistics and shipment industries is likely to offer lucrative opportunities to the dry van container market.

Shipping Containers Market Growth Rate

Competitive Landscape

The shipping containers market is consolidated. The top 3 companies hold more than 70% of the market share. The leading shipping containers vendors include China International Marine Containers (Group) Ltd (CIMC), Dong Fang International Container (Hong Kong) Co. Ltd, and Maersk Container Industry AS.

Recent Developments

Dec 2020: India is moving into manufacturing cargo containers, a segment dominated by China, as part of the Atmanirbhar Bharat initiative. The Ministry of Ports, Shipping, and Waterways formed a committee to examine the feasibility of making containers at Bhavnagar in Gujarat and developing it into a manufacturing hub for the steel boxes that have become the global standard for shipping a variety of goods across ships, rail, and road. As the first step in this direction, the freight forwarder, Pushpak Logistics, rolled out a pilot project by placing orders for a few containers with manufacturers in Bhavnagar.

April 2020: Evergreen Marine Corp. ordered 1,800 Star Cool reefers from Maersk Container Industry (MCI) to grow reefer operations.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    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 Porters 5 Force 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 (Market Size by Value)

    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

        3. 5.3.1.3 Mexico

      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 Italy

        5. 5.3.2.5 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 South Korea

        4. 5.3.3.4 India

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 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/ Oriental International

      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

**Subject to Availability

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Frequently Asked Questions

The Shipping Containers Market market is studied from 2017 - 2026.

The Shipping Containers Market is growing at a CAGR of 4.3% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

China International Marine Containers Co. Ltd, Maersk Container Industry AS, CXIC Group Containers Co., Ltd., Singamas Container Holdings Ltd. are the major companies operating in Shipping Containers Market.

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