Coherent Market Insights Publishes Global Shipping Container Market Report; Market Valued at US$11,168.8 Mn in 2021, Bn or Mn by 2022 with 6.1% CAGR
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| Shipping Container Market |
Market
Overview:
The shipping container market is witnessing significant growth, driven by its
multiple advantages and the increasing need for efficient and secure
transportation of goods. Shipping containers provide a convenient and
cost-effective solution for the transportation of various products, ensuring
their safety during transit. Moreover, the rising trend of globalization and
international trade is further fueling the demand for shipping containers.
These containers offer benefits such as easy loading and unloading, protection
from damage, and compatibility with different modes of transportation. With
industries such as retail, manufacturing, and logistics expanding their global
footprint, the shipping container market is poised to witness substantial
growth in the coming years.
Market Key Trends:
One key trend in the Shipping
Container Market is the adoption of advanced technologies to enhance
container security. In an effort to combat theft and unauthorized access,
shipping container manufacturers are incorporating advanced security features
such as GPS tracking systems, biometric locks, and tamper-evident seals. These
technological advancements ensure better control and monitoring of container
movement, reducing the risk of theft and improving supply chain efficiency.
Additionally, the integration of Internet of Things (IoT) technology enables
real-time tracking and remote monitoring of containers, enhancing overall
logistics management. With the increasing emphasis on container security and
the need for seamless supply chain operations, the demand for technologically
advanced shipping containers is expected to witness significant growth in the
foreseeable future.
Segment Analysis:
The shipping container market can be segmented by container size, container
type, and end-use industry. In terms of container size, the 20 feet segment
dominates the market. This segment is expected to continue its dominance over
the forecast period due to its wide application in various industries such as
food and beverages, automotive, and consumer goods. The 20 feet shipping
containers are cost-effective and widely available, making them the preferred
choice for transportation.
In the container type segment, the dry containers segment holds the largest
market share. Dry containers are commonly used for shipping non-perishable
goods such as electronics, textiles, and machinery. Their airtight and
watertight design ensures the safety of goods during transportation. The
increasing demand for consumer goods and e-commerce is fueling the growth of
the dry containers segment.
In terms of end-use industry, the food and beverages segment dominates the
market. Shipping containers play a crucial role in the transportation of
perishable goods such as fruits, vegetables, and dairy products. The increasing
demand for fresh and frozen food products globally is driving the growth of
this segment. Additionally, the pharmaceutical industry is also a significant
end-user of shipping containers for the transportation of temperature-sensitive
drugs and vaccines.
Key Takeaways:
The global shipping container market is expected to witness high growth,
exhibiting a CAGR of 6.1% over the forecast period. The growing trade
activities and globalization are major drivers for market growth. The
increasing demand for transportation of goods, especially in emerging
economies, is boosting the demand for shipping containers. Additionally, the
rise of e-commerce and the need for efficient logistics solutions are also
contributing to market growth.
In terms of regional analysis, Asia Pacific is the fastest growing and
dominating region in the shipping container market. The region is home to major
manufacturers of shipping containers such as China, South Korea, and Japan. The
rapid industrialization and infrastructural development in countries like China
and India are driving the demand for shipping containers. Furthermore, the growing
trade activities and international shipments in the region are fueling the
market growth.
Key players operating in the shipping container market are China International
Marine Containers Co., Ltd., Sea Box, Inc., Singamas Container Holdings Limited,
China Cosco Shipping Co. Ltd., TLS Offshore Containers International, CXIC
Group Containers Company Limited, W&K Container Inc., Maersk Container
Industry, YMC Container Solutions (a division of Thurston Group Limited), and
Dong Fang International Container (Hong Kong) Co., Ltd. These key players focus
on product development, technological advancements, and strategic
collaborations to gain a competitive edge in the market.
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