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The Shipping Container Market size is estimated to grow at a CAGR of 4.33% between 2022 and 2027. The market size is forecast to increase by USD 2,454.72 million. The growth of the market depends on several factors such as growing global container traffic, rising seaborne trade across the globe, and growth of rail intermodal across the globe.
This shipping container market report extensively covers market segmentation by type (dry containers, reefer containers, tank containers, and special containers), application (food and beverages, consumer goods, healthcare, industrial products, and others), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the shipping container market growth is the growth of rail intermodal across the globe. Other factors that are significantly influencing the growth of intermodal rail transportation across the world and especially in Europe are fuel efficiency and environmental sustainability. There is increasing adoption of rail intermodal among cargo moves due to stringent regulations as well and the fuel efficiency of rail transportation is four times better than other modes of transportation.
Moreover, minerals, coal, and liquefied petroleum are some of the primary goods which are transported through European intermodal. There is an increasing growth of intermodal railway transportation in APAC. Thus the rising rail intermodal will fuel the demand for containers among different end users including coal refiners, mining players, consumer goods manufacturers, and cargo players. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping the shipping container market growth is the growth in global demand for refrigerated transportation. Factors such as the growing adoption of cold chain solutions due to numerous benefits including the safe transportation of temperature-sensitive and perishable products. is significantly contributing to the growth of the refrigerated transportation segment. Additionally, this type of transportation increases operational efficiency and thereby minimizing food wastage and enhancing the shelf life/durability of temperature-sensitive products.
In addition, there is an increasing adoption of refrigeration transportation across several industries such as food and beverage, healthcare, chemicals, and horticulture. Additionally, reefer containers are widely used in refrigeration transportation in order to carry and transport temperature-sensitive and perishable products from various industries, including food and beverage and pharmaceuticals, to retail outlets and consumers. Hence, such factors are expected to drive market growth during the forecast period.
Changing container prices is one of the key challenges hindering the shipping container market growth. Even though the lower container prices are expected to increase the bulk purchase of containers by end-users, it is not certain in all cases. The lower prices of containers are due to the oversupply of containers in the market.
In addition, the oversupply of containers can result in a reduction in the container utilization rate of container end-users. As a result, it will significantly impact the return on investment of the container end-users, thereby declining preference for new container purchasing. Hence, such factors are negatively impacting the market which in turn will hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Shipping Container Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AP Moller Maersk AS: The company ships containers such as Dry containers, Reefer containers, Genset Clip-On, and Power Packs.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The dry containers segment is estimated to witness significant growth during the forecast period. There is an increasing demand for dry containers segment especially in China and India as these countries are very involved in the export and import activities of dry freight. Additionally, the increasing population in China and India has fuelled the demand for various commodities. Hence, the increasing demand for dry commodities in these countries will fuel the demand for this segment.
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The dry containers segment was the largest segment and was valued at USD 6,866.99 million in 2017. Furthermore, some of the major exporters of food grains include Australia, Russia, and Ukraine. Additionally, one of the largest global importers of wheat is Egypt. Therefore, the increasing volume of export and import activities in these countries will fuel the demand for the dry container segment. Additionally, the container itself acts as a warehouse for goods offering various cost advantages both import and export trades and thereby eliminating the need for warehouses. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
Based on application, the segment is classified into food and beverages, consumer goods, healthcare, industrial products, and others. Some of the main food types that extensively utilize ship containers for transportation include rice, wheat, flour, seeds, barley, malt, animal feed, and fruits. There is an increasing demand for container lines in the global food industry as they offer a hygienic and cost-effective solution for transporting and storing food products. These containers are mainly used for the transportation of grains, flour, sugar, spices, and other dry foods. Hence, such factors are expected to fuel the growth of this segment which, in turn, will drive the market growth during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. There is an increase in the expansion of several prominent drug manufacturers in APAC which is fuelling the sales of medical products in the region. As a result, the increase in sales of medical products is fuelling the transportation requirements of medical products, as around 20% of medical products need refrigeration. Additionally, several countries in APAC have signed the Trans-pacific partnership which enables countries such as Malaysia, Singapore, and Vietnam, to easily connect with developed countries such as the US for trade deals. As a result, such trade relations are expected to positively impact the market.
Furthermore, some of the leading producers, as well as exporters of horticulture products such as fruits and vegetables, include China and India. In addition, the increasing demand for commodity chemicals and specialty chemicals is expected to influence distribution and warehousing in different emerging economies in the region. Hence, such exports are expected to drive market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of global shipping container market witnessed a significant due to the temporary closure of manufacturing activities and decline in prices of commodities leading to disruptions in the supply chain in APAC. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of supply chain operations. Such factors are expected to drive the market during the forecast period.
The shipping container market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Shipping Container Market Scope |
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Report Coverage |
Details |
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Page number |
180 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.33% |
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Market growth 2023-2027 |
USD 2,454.72 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.11 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 48% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AP Moller Maersk AS, Arcus Infrastructure Partners LLP, CARU Group BV, China International Marine Containers Group Ltd., COSCO Shipping Co. Ltd., CXIC Group Container Co. Ltd., Dong Fang International Containers, Evergreen Marine Corp. Taiwan Ltd., Hapag Lloyd AG, Hoover Circular Solutions, OEG Offshore UK Ltd., PODS Enterprises LLC, Retveyraaj Cargo Shipping Containers, Sea Box Inc., SHARKCAGE Inc., Singamas Container Holdings Ltd., TLS Offshore Containers, Valisons and Co., W and K Containers Inc., and YMC Container Solutions |
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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, and Market condition analysis for the forecast period. |
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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. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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