Tank Container Shipping Market Size - APAC, Europe, North America, Middle East and Africa, South America - US, UK, China, Saudi Arabia, France - Trends and Forecast Report 2024-2028

Tank Container Shipping Market Size 2024-2028

The tank container shipping market size is forecast to increase by USD 172.7 million, at a CAGR of 4.5% between 2023 and 2028.

• The market is experiencing significant growth due to increasing seaborne trade and the rise in liquefied natural gas (LNG) trade. The use of tank containers for transporting natural gas, bioenergy, spirits, oilfield services, offshore drilling, vaccines, biofuels, juices, renewable energy, wine, and other chemicals is on the rise. Telematics technology is being increasingly adopted to optimize logistics and improve supply chain efficiency. The shift towards cleaner energy sources is driving the demand for tank containers In the transportation of LNG and biofuels. The market is expected to continue its growth trajectory, with the increasing demand for energy and the need for efficient and cost-effective transportation solutions. The adoption of tank containers In the transportation of sensitive goods such as vaccines and chemicals is also on the rise, further expanding the market's scope. Overall, the market is poised for growth due to these trends and the increasing demand for alternative energy sources and efficient logistics solutions.

What will be the Size of the Tank Container Shipping Market During the Forecast Period?

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• The market encompasses the transportation of various commodities, including oil, gas, and chemicals, via ISO tanks. This market is driven by surging demand for oil and gas, as well as increasing usage of natural gas in oilfield services and industrial applications. The integration of telematics systems in tank containers enhances the monitoring and tracking of shipments, ensuring safety and efficiency. Svor (Single Vessel Operations) and other operational improvements contribute to cost savings and capacity expansion. 
• Commodities transported via tank containers span a broad range, from petroleum products like crude oil and gas, to chemicals such as wines, spirits, fruit juices, sweet oils, vegetable oil, and various industrial gases. Manufacturing industries, particularly those focused on emissions reduction and fuel production, also rely heavily on this market. Despite the environmental concerns, the market's growth is expected to continue, driven by the need for efficient and flexible logistics solutions.

How is this Tank Container Shipping Industry segmented and which is the largest segment?

The tank container shipping industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• End-user
  • Oil and gas
  • Chemical
  • Others
• Geography
  • APAC
    • China
  • Europe
    • UK
    • France
  • North America
    • US
  • Middle East and Africa
  • South America

By End-user Insights

• The oil and gas segment is estimated to witness significant growth during the forecast period.

The market is poised for substantial expansion In the oil and gas sector over the forecast period. With crude oil being a primary source of liquid hydrocarbons, its demand continues to rise globally, particularly In the transportation sector, which accounts for over 90% of oil consumption. The rapid industrialization and economic development in emerging economies, notably in Asia Pacific regions such as India and China, are driving this growth. The tank container shipping industry's expansion hinges significantly on the oil and gas industry's trajectory, as these industries remain interconnected. The energy sector's increasing needs, including fuel, heat, and light, further fuel the demand for tank container shipping.

Additionally, the transportation of toxic substances, chemicals, petroleum, wines, spirits, fruit juices, sweet oils, vegetable oil, and crude oil relies heavily on this mode of transportation. The growth of the manufacturing sector, population expansion, and economic development are other significant factors contributing to the market's expansion.

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The oil and gas segment was valued at USD 305.80 million in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• APAC is estimated to contribute 39% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in Asia-Pacific (APAC) is projected to experience significant growth due to increasing international trade and economic development In the region. The demand for crude oil in APAC is anticipated to increase by over 25% during the forecast period, driven by rising consumption in countries like China, India, Japan, South Korea, Indonesia, and Malaysia. These nations heavily rely on oil imports to meet their domestic fuel requirements, with India importing over 80% of its crude oil demand. 

The demand for chemicals, petroleum, natural gas, oilfield services, and other commodities transported via tank containers is also expected to increase due to industrialization and population growth in APAC. Tank container providers, including Danteco Industries, Tankcon, Stolt Tankers, and others, are investing in advanced technologies such as telematics systems, SVOR (Single Vessel Operating Rates), and ISO Tank Containers to enhance efficiency and meet the growing demand for tank container shipping services. The market is further expected to be influenced by factors such as emissions regulations, storage area requirements, and energy needs.

Market Dynamics

Our researchers analyzed the data with 2023 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.

What are the key market drivers leading to the rise In the adoption of Tank Container Shipping Industry?

Growing seaborne trade is the key driver of the market.

• The market has experienced steady growth since 2009, driven by the increasing global demand for oil, gas, and various commodities such as chemicals, petroleum, natural gas, and industrial products. This trend is anticipated to continue during the forecast period due to economic development, industrialization, and population growth in different regions. For instance, the rising demand for French wines, spirits, fruit juices, sweet oils, vegetable oil, and crude oil necessitates their transportation via seaborne trade.
• Furthermore, seaborne transportation is a cost-effective solution for transporting bulk liquids over long distances, making it a preferred choice for businesses. Additionally, the need for energy, heat, fuel, and light in various industries further fuels the demand for tank container shipping. The transportation of toxic substances also requires secure and efficient shipping solutions, which tank containers provide. Overall, the market is expected to expand significantly due to the increasing energy needs and the growing demand for goods and materials produced in different parts of the world.

What are the market trends shaping the Tank Container Shipping Industry?

Growing LNG trade is the upcoming market trend.

• The market has experienced significant growth due to the increasing demand for oil, gas, and other commodities such as chemicals, petroleum, natural gas, wines, spirits, fruit juices, sweet oils, vegetable oil, crude oil, and industrialization. The energy needs of manufacturing industries and economic development have driven the demand for tank container shipping, particularly for the transportation of toxic substances and fuels like LNG. The implementation of advanced telematics systems and SVOR (Smart Vessel Operational Reporting) technology in ISO Tank Containers by companies like Danteco Industries, Tankcon, and Stolt Tankers has improved the efficiency and safety of the shipping process.
• The focus on reducing emissions and the need for efficient storage areas have further boosted the market's growth. The increasing population and the resulting energy demands have also contributed to the market's expansion. LNG transportation has gained prominence due to new LNG trade routes and the ramping up of LNG supply in traditional markets. The shift towards clean energy and the increasing share of natural gas In the energy mix of several countries have fueled the demand for LNG across the globe. Australia and Africa are among the regions where new LNG liquefaction facilities are either under operation or in the construction phase, further boosting the market's growth.

What challenges does the Tank Container Shipping Industry face during its growth?

Increased use of alternative energy sources is a key challenge affecting the industry growth.

• The global oil and gas industry, driven by demand for petroleum and natural gas, is witnessing significant changes due to increasing investments in alternative energy sources. Factors such as environmental concerns, geopolitical risks, and trade deficits are leading countries to invest heavily in renewable and non-renewable energy alternatives, including solar, geothermal, biofuels/bioenergy, nuclear/thermal, and other energy sources. This shift in energy focus is encouraging diversification of energy resources and reducing reliance on traditional oil and gas. Industries such as oilfield services, manufacturing, and transportation, including Tank Container Shipping, are adapting to these changes.
• Moreover, the energy needs of industries and economic development, driven by population growth, are increasing, leading to a greater emphasis on energy efficiency and reducing emissions. The storage and transportation of toxic substances and fuels require advanced technologies to ensure safety and minimize environmental impact. Overall, the market dynamics of the Tank Container Shipping industry are being influenced by the global energy landscape, with a focus on innovation and sustainability.

Exclusive Customer Landscape

The tank container shipping market forecasting 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 tank container shipping market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, tank container shipping market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Amfico Agencies Pvt. Ltd.
• Bertschi AG
• Bulkhaul Ltd.
• Danteco Industries BV
• Den Hartogh Holding BV
• Eagletainer Logistics Pte Ltd
• Gruber GmbH and Co. KG
• HOYER GmbH
• Intermodal Tank Transport Inc.
• Lexzau Scharbau GmbH and Co. KG
• M and S Logistics
• NewPort Tank
• R.M.I. Global Logistics BV
• Singamas Container Holdings Ltd.
• Stolt Nielsen Ltd.
• Sun Logistics
• Suttons Transport Group Ltd
• The Dana Companies
• Van den Bosch Transporten BV

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 industry 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.

Research Analyst Overview

The market experiences significant growth due to the increasing demand for oil and gas, as well as the transportation needs of various industries. Natural resources, such as oilfield services, require specialized shipping solutions for the safe and efficient transport of their products. One such solution is the use of ISO tank containers, which offer versatility in transporting a wide range of commodities, including natural gas, chemicals, petroleum, wines, spirits, fruit juices, sweet oils, vegetable oil, and crude oil. The adoption of advanced technologies, such as telematics systems, contributes to the growth of the market. These systems provide real-time monitoring and tracking capabilities, ensuring the secure and efficient transport of hazardous and valuable commodities.

Additionally, the implementation of Sustainable and Vessel-specific Operating Rules (SVOR) enhances safety and compliance, reducing the risk of environmental incidents. The manufacturing sector is a significant consumer of tank container shipping services, as the industry relies on the transportation of raw materials and finished products. The growing industrialization and economic development in various regions drive the demand for energy, further increasing the need for fuel, heat, and light transportation. The energy sector's shift towards cleaner energy sources and the reduction of emissions also contribute to the growth of the market. Tank containers offer a cost-effective and efficient solution for the transportation of liquefied natural gas (LNG), which is a cleaner alternative to traditional fossil fuels.

Further, the storage and handling of toxic substances require specialized tank containers to ensure safety and compliance with regulations. The transportation of these substances is essential for various industries, including manufacturing and energy production, further increasing the demand for tank container shipping services. The market faces challenges, such as the need for stringent regulations and compliance with safety standards. However, the market's growth is driven by the increasing energy needs of various industries and the demand for efficient and cost-effective transportation solutions. The market's future looks promising, with advancements in technology and the growing focus on sustainable and clean energy sources.

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What are the Key Data Covered in this Tank Container Shipping Market Research and Growth Report?

• CAGR of the Tank Container Shipping industry during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across APAC, Europe, North America, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the tank container shipping market growth of industry companies

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