Market Size of Shipping Containers Industry
| 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
*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.
