The shipping container market size was valued at USD 8.8 billion in 2022 and is expected to reach USD 13.3 billion in 2032, at a CAGR of 4.3%.
FORT COLLINS, Colo., May 1, 2024 (Globe Newswire) —
Expansion of trade and commerce is driving the shipping container industry.
of shipping container market is experiencing significant growth due to several important factors. One of the key drivers is the expansion of global trade and commerce, which requires efficient and reliable transportation over long distances. Shipping containers provide a standardized and secure solution for the transportation of cargo, facilitating the smooth flow of goods between countries and continents.
Additionally, the rise of e-commerce has further increased the demand for shipping containers. With the growing popularity of online shopping, the movement of goods domestically and internationally is rapidly increasing. Shipping containers play a critical role in allowing products purchased online to travel seamlessly from manufacturing facilities to distribution centers and ultimately to the final consumer.
Additionally, infrastructure development projects around the world are increasing the demand for shipping containers. As countries invest in building ports, railways and highways to strengthen their transportation networks, there is a growing need for containers to facilitate the movement of goods within these systems.
Additionally, the concept of containerization continues to gain traction in various industries beyond traditional transportation. Shipping containers are being repurposed for a variety of purposes, including storage, housing, and even as the structural foundation for innovative building projects. This versatility expands the shipping container market potential and contributes to the container’s continued growth.
Additionally, advancements in container technology, such as the development of refrigerated containers and specialty containers, are also driving market growth by meeting the evolving needs of industries such as pharmaceuticals, food and beverages, and electronics.
In conclusion, the shipping container market is witnessing strong growth due to expanding global trade, growth in e-commerce, infrastructure development, containerization trends, and technological advancements. As these trends continue to evolve, demand for shipping containers will remain strong for the foreseeable future.
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Segmentation overview:
The shipping container market is segmented into container size, product, end user, and region.
Dry storage containers will witness notable growth during the forecast period.
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The industry is categorized by container size into dry storage containers, flat rack containers, refrigerated containers, special purpose containers, etc. Dry storage containers are the fastest growing segment in long-haul transportation.
Consumer goods have experienced significant growth and continue to gain a leading position.
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Based on end user, the industry is segmented into food and beverages, consumer goods, healthcare, industrial products, and vehicle transportation. Food and beverages is a major segment and is expected to further grow in the coming years as it is widely used in consumer goods applications.
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Shipping Container Market Report Highlights:
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Some of the prominent players in the Shipping Container market report include China International Marine Containers, OEG OFFSHORE LIMITED, AP Moller-Maersk Group, TLS Offshore Containers / TLS Special Containers, COSCO SHIPPING Development Co. Ltd, YMC Container Solutions, CARU Containers, Singamas Container Includes Holdings. Ltd., W&K Containers, Inc., CXIC Group.
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