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The insulated storage vessel market share is expected to increase to USD 1.46 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.86%.
This insulated storage vessel market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers insulated storage vessel market segmentation by distribution channel (offline and online), material (stainless steel and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The insulated storage vessel market report also offers information on several market vendors, including Bradford White Corp., Buckeye Fabricating Co., Compagnie de Saint Gobain SA, Cyrospain SL, Delbert Industries Pvt. Ltd., DFC Pressure Vessel Manufacturer Co. Ltd., EcoVessel, FAYREN INTL GROUP Co. Ltd., Healthy Human LLC, Ice Shaker, LocknLock Co., MIRA Brands, Mitsubishi Chemical Corp., MOS Techno Engineers, Newell Brands Inc., Pacific Market International LLC, Paul Mueller Co. Inc., Rehydrate Pro, ThermoServ, ZHE JIANG HAERS VACUUM CONTAINERS CO. LTD., and Zojirushi Corp. among others.
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The growing penetration of organized retail is notably driving the insulated storage vessel market growth, although factors such as the highly fragmented and unorganized retail sector in developing countries may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the insulated storage vessel industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Insulated Storage Vessel Market Driver
The growing penetration of organized retail is one of the factors driving the insulated storage vessel market growth. The penetration of organized retail is now enabling consumers to compare the price, quality, and design of products, which will aid in their purchase decisions. Significantly, social media plays a pivotal role in increasing product awareness. Meanwhile, vendors prefer using social media platforms to increase awareness and promote their products as consumers today are more engaged in social networking and blogs. In addition, the organized retail sector in urban areas ensures the easy availability of quality products and international brands. These factors are expected to drive market growth during the forecast period.
Key Insulated Storage Vessel Market Trend
The rise in M&A activities is one of the key insulated storage vessel market trends fueling the market growth. Typically, M&A provides scope for vendors to bank on the widespread distribution network, customer base, and financial strength of the acquired company. It also helps a company save additional costs on the manufacturing, distribution channel, and supply chain. However, if these costs are saved, a company can invest its capital in R&D, product innovations, and product expansions. In view of this, the trend of acquisition among vendors has gained growth momentum now. Well, it is expected to witness more M&A in the future, which will fuel the market growth during the forecast period.
Key Insulated Storage Vessel Market Challenge
The highly fragmented and unorganized retail sector in developing countries is one of the key factors challenging the insulated storage vessel market growth. International players in the global insulated storage vessel market are facing prominent challenges due to unorganized market players selling low-priced products to the end customers. Moreover, the market is highly competitive for big vendors owing to the presence of local and regional players in developing countries. Local players significantly contribute to the market by offering their products targeted to fulfill the needs of local consumers at a relatively low price. International players need to compete with local players in terms of price and quality, which will decrease their profit margins. This, in turn, will challenge the market growth during the forecast period.
This insulated storage vessel market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global laser cutting machine market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the insulated storage vessel market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the insulated storage vessel market encompasses successful business strategies deployed by the key vendors. The insulated storage vessel market is fragmented and the vendors are deploying growth strategies such as product quality, packaging, product pricing, and product portfolio to compete in the market.
To make the most of the opportunities and recover from the post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The insulated storage vessel market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the insulated storage vessel market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market’s growth will originate from APAC during the forecast period. China is the key market for the insulated storage vessel market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The presence of numerous industrial sectors such as food and beverages (F&B), pharmaceuticals, and oil and gas will facilitate the insulated storage vessel market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic negatively impacted the offline segment of the market in APAC. However, in Q3 2020, several vendors adopted innovative strategies to promote insulated storage vessels online, further assisting the market to overcome the negative impacts by registering growth in the online sector. Furthermore, the initiation of large-scale vaccination drives led to the lifting of lockdown restrictions in 2021. This has resulted in the resumption of commercial and industrial activities in the region. Therefore, such factors are expected to increase the demand for insulated storage vessels, which, in turn, will drive the growth of the market in APAC during the forecast period.
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The insulated storage vessel market share growth by the offline segment will be significant during the forecast period. Offline distribution channels include retail formats such as specialty stores, hypermarkets, and others. Moreover, insulated storage vessels are easily available in hypermarkets, supermarkets, convenience stores, and warehouse clubs, which offer goods at lower prices than departmental or specialty stores. With its everyday low price (EDLP) strategy, Walmart offers products at low prices. Such factors in the offline segment will boost the market growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the insulated storage vessel market size and actionable market insights on post COVID-19 impact on each segment.
Insulated Storage Vessel Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.86% |
Market growth 2022-2026 |
$ 1.46 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.51 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
APAC at 39% |
Key consumer countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Bradford White Corp., Buckeye Fabricating Co., Compagnie de Saint Gobain SA, Cyrospain SL, Delbert Industries Pvt. Ltd., DFC Pressure Vessel Manufacturer Co. Ltd., EcoVessel, FAYREN INTL GROUP Co. Ltd., Healthy Human LLC, Ice Shaker, LocknLock Co., MIRA Brands, Mitsubishi Chemical Corp., MOS Techno Engineers, Newell Brands Inc., Pacific Market International LLC, Paul Mueller Co. Inc., Rehydrate Pro, ThermoServ, ZHE JIANG HAERS VACUUM CONTAINERS CO. LTD., and Zojirushi Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Distribution Channel
6 Market Segmentation by Material
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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