Shipping Container Industry Overview
The global shipping container market size was valued at USD 6.41 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 12.0% from 2020 to 2028.
The market is witnessing a high growth owing to rising maritime shipping on account of an increase in trade agreements across the nations. Most of the shipping containers are manufactured as per the specifications outlined by International Organization for Standardization (ISO), mainly to enable smooth and hassle-free loading/unloading and also to guarantee that the container will withstand extreme environments and structural integrity during transportation.
Gather more insights about the market drivers, restrains and growth of the Global Shipping Container Market
The U.S. has one of the largest pharmaceutical markets worldwide and is one of the top 3 importers and exporters of medical products. Large investments in drug development, production of different healthcare products, and their exports are projected to offer opportunities for shipping container vendors in the U.S.
Maritime trade refers to the transportation of goods via sea or other waterways. As per the International Chamber of Shipping, around 11 billion tons of goods are transported via shipping containers each year. Increasing trading activities across the globe are expected to support the industry's growth.
The outbreak of COVID 19 from the beginning of 2020 negatively impacted the growth of the market. The pandemic resulted in lockdown across the countries mainly to contain the disease spread, which led to a contraction in demand for non-essential consumer goods particularly in the second and third quarter of 2020.
Moreover, in the first quarter of 2020, China was the epicenter of COVID 19. Thus, to limit the disease spread several countries halted their trade with China. The U.S.-China trade fell by 20.3% in Q1, 2020 and a similar trade drop was observed among China and European countries.
China being a major exporter of consumer goods across the world, the decline in its export in 2020 owing to COVID 19 significantly impacted the demand for shipping containers. However, rapid vaccination from the beginning of 2021 is expected to result in a rebound in demand for consumer goods, thereby benefitting the market over a shorter period.
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Shipping Container Market Segmentation
Grand View Research has segmented the global shipping container market report based on product, type, size, flooring, application, and region:
Shipping Container Product Outlook (Volume, Thousand Units; Revenue, USD Thousand, 2017 – 2028)
- ISO Containers
- Non-standardized Containers
Shipping Container Type Outlook (Volume, Thousand Units; Revenue, USD Thousand, 2017 – 2028)
- Dry Containers
- Reefer Containers
- Tank Containers
- Others
Shipping Container Size Outlook (Volume, Thousand Units; Revenue, USD Thousand, 2017 – 2028)
- 20’ Containers
- 40’ Containers
- High Cube Containers
- Others
Shipping Container Flooring Outlook (Volume, Thousand Units; Revenue, USD Thousand, 2017 – 2028)
- Wood
- Bamboo
- Metal
- Vinyl
- Others
Shipping Container Application Outlook (Volume, Thousand Units; Revenue, USD Thousand, 2017 – 2028)
- Consumer Goods Transport
- Industrial Transport
- Food Transport
- Others
Shipping Container Regional Outlook (Volume, Thousand Units; Revenue, USD Thousand, 2017 – 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Market Share Insights
- March 2021: Dubai-based Transworld Group signed an agreement worth USD 26.83 million with Indian state-owned Sagarmala Development Company Ltd. to construct a cargo container manufacturing facility in Gujarat.
Key Companies profiled:
Some prominent players in the global shipping container market include
- Bertschi AG
- BNH Gas Tanks
- Bulkhaul Limited
- Danteco Industries BV
- NewPort Tank
- A.P. Moller – Maersk
- China International Marine Containers (Group) Ltd
- COSCO SHIPPING Development Co., Ltd.
- CXIC Group
- Singamas Container Holdings Limited
- TLS Offshore Containers/TLS Special Containers
- W&K Containers, Inc.
- Thurston Group Limited
- OEG
- Sea Box, Inc.
- IWES LTD.
- Norcomp Nordic AB
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