What is Shipping Containers Market?
Shipping Container is a container used to withstand shipment, storage, handling and transport of goods from one place to another. This may range from large reusable steel boxes and used for intermodal shipments. The global shipping container market is expected to increase in the forecasted period owing to the rise in global trade and the boost in the demand for containers. The growing seaborne trade and strong demand for shipping container is anticipated in the forecasted period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | China International Marine Containers (Group) Ltd. (China), TLS Offshore Containers International (Singapore), CXIC GROUP (China), A.P. MOLLER - MAERSK GROUP (Denmark), Singamas Container Holdings Limited (Hong Kong), Dong Fang International Asset Management Ltd. (Hong Kong), W&K Containers, Inc. (United States), YMC Container Solutions (United Kingdom), China Shipping Container Lines Co. Ltd. (China), Jindo Co. Ltd. (South Korea), MSC Mediterranean Shipping Company S.A. (Switzerland), CMA CGM Group (France) and Sea Box Inc. (United States) |
CAGR | 4.3% |
The market study is being classified by Type (Dry Freight Containers, Refrigerated Containers and Other Types of Containers), by Application (Food Transport, Consumer Goods Transport and Industrial Transport) and major geographies with country level break-up. According to AMA, the Global Shipping Containers market is expected to see steady growth rate.
China International Marine Containers (Group) Ltd. (China), TLS Offshore Containers International (Singapore), CXIC GROUP (China), A.P. MOLLER - MAERSK GROUP (Denmark), Singamas Container Holdings Limited (Hong Kong), Dong Fang International Asset Management Ltd. (Hong Kong), W&K Containers, Inc. (United States), YMC Container Solutions (United Kingdom), China Shipping Container Lines Co. Ltd. (China), Jindo Co. Ltd. (South Korea), MSC Mediterranean Shipping Company S.A. (Switzerland), CMA CGM Group (France) and Sea Box Inc. (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Tempo Housing Limited (Netherland), Storstac Inc. (Canada) and A.P. Møller – Mærsk A/S (Denmark).
The shipping containers market is merged. The leading 3 players hold more than 70% of the market share. The top shipping containers vendors include China International Marine Containers (Group) Ltd (CIMC), Dong Fang International Container (Hong Kong) Co. Ltd, and Maersk Container Industry AS Research Analyst at AMA predicts that Chinese Manufacturers will contribute to the maximum growth of Global Shipping Containers market throughout the forecasted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Shipping Containers market by Type, Application and Region.
On the basis of geography, the market of Shipping Containers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increased Globalization Due To Rapid Growth in Economies of Some Developing Countries
- Growing Adoption for Highly Efficient and Superior Capacity Shipping Containers
- Growing Demand for Cost-Effective Shipping Solution
Market Trend
- Adoption of Remote Container Management (RCM) Solutions
Restraints
- Slow Economic Growth in Countries Such As China and Certain European Countries
Opportunities
- Growing Cross Border Activities
- Inland Marine Cargo Transport
Challenges
- Tariff or Tax Levied On the Goods
- Ongoing & Upcoming Rigorous Environmental & Safety Regulatory Compliances Across Different Regions
Market Leaders and some development strategies
In March 2018, CIMC Container and Siasun Robot & Automation Co. Ltd (Siasun), to cooperate in the field of intelligent manufacturing. Upon finalization of the agreement, the “Flying Dragon Plan” of CIMC Container is expected to get its production lines renovated and upgraded.
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., , April 2020: Evergreen Marine Corp. ordered 1,800 Star Cool reefers from Maersk Container Industry (MCI) to grow reefer operations., and In March 2018, Carrier Transicold and Singamas Container Holdings Ltd launched PrimeLINE ONE, with a joint initiative, a new refrigerated shipping container. The PrimeLINE ONE container provides the benefits of assembly on-site.
Container freights are subjected to stringent regulatory guidelines as they carry various types of materials including hazardous one. As per United Kingdom safety convention regulations 2017, it is required to maintain “high level of safety in the transport and handling of containers by providing internationally acceptable test procedures and related strength requirements.” Moreover, Health and Safety Executive of United Kingdom mandates container freight to be approved by governing bodies and must be periodically examined by the competent person and in accordance with arrangements that are approved by HSE.
Key Target Audience
Shipping Container Manufacturers, Shipping Container Distributors/Traders/Wholesalers, Shipping Container Subcomponent Manufacturers, Downstream Stakeholders, Government Regulatory Authorities, Investment Firms., Equity Research Firms., Private Equity Firms, Industry Association, Downstream Vendors and Other