Global Shipping Container Market Size Grows Steadily At A CAGR Of 13.2%

(MENAFN- Straits Research) A shipping container is a container that can ship, store, and handle the contents of the container in addition to its other functions. Because shipping containers eliminate the need to unload and reload the cargo at intermediate points, the transportation and carriage of goods are much simpler and more convenient. Depending on their size, these containers can be shipped across the country by truck, rail, or ship. As a direct result, intermodal freight transportation is now more efficient. The use of shipping containers has dramatically simplified the process of transporting goods. The conventional loading and unloading of cargo on the ship were also eliminated, resulting in significant time and resource savings.
Market Dynamics
Growing Seaborne Trade and Containerization Drives the Global Market
The number of seats available for transportation has increased significantly over the past half-century. This is frequently the case because shipping is more cost-effective and productive than any other mode of transportation. To accommodate larger ships, the Panama Canal is currently being expanded. More significant global trade will be possible as a result of this. In addition to this expansion, container terminals worldwide have received considerable investment. The above factors are expected to spur future growth in the global shipping container market.
Many companies have decided to ship their goods using containers because of containerization's increased speed, reliability, and safety. As containerized long-distance transportation prices fall and international trade increases, containerization is rising. Consequently, it is expected that the shipping container market will continue to grow throughout the forecasted period due to the abovementioned factors.
Growing demand for reefer containers Creates Tremendous Opportunities
Perishable exporters like Mexico, Canada, and New Zealand are increasing the variety of vegetables and fruits they ship abroad to meet demand. Mexico, Canada, and New Zealand are major perishable exporters. Perishable goods transported by sea will rise soon. This rise has many causes. These factors will create exceptional market opportunities.
Regional Analysis
Asia-Pacific is expected to lead the global shipping container market
during the forecast period. Because its preeminent position in the international market is primarily attributable to the robust maritime trade that originates from Asia-Pacific countries such as China, Japan, India, and South Korea, amongst others, this trade is essential to the region's economic development. It is anticipated that substantial quantities of export, expanding manufacturing activities, and activities related to intraregional trade will further support the expansion of the market. It is expected that these factors will be ubiquitous in these countries.
Key Highlights

The
global shipping container market was valued at USD
7.85
billion in 2021.
It is expected to reach USD
23.96
billion by 2030, growing at a CAGR of
13.2% during the forecast period (2022–2030).
Based on container size, the global shipping containermarket is segmented into small containers (20 feet), large containers (40 feet), and high cube containers (40 feet). Compared to the 20' container, the 40' container offers more space and is more durable, which are major contributing factors to the 40' container's higher adoption rate across application industries.
Based on product type, the global shipping containermarket is segmented into dry storage containers, flat rack containers, refrigerated containers, and special-purpose containers. Dry containers dominate the market because these containers are airtight; they effectively protect the contents from being damaged by harsh conditions.
Asia-Pacific is expected to lead the global shipping container market during the forecast period.

Competitive Analysis
The key players in this market include

A.P. Moller–Maersk Group
CARU containers
China International Marine Containers
COSCO SHIPPING Development Co., Ltd
CXIC Group
OEG Offshore limited
Singamas Container Holdings Limited
TLS Offshore Containers International
W&K Containers, Inc.
YMC Container Solutions

Market News

June 2022,
P. Moller – Maersk to acquire ResQ to strengthen Maersk Training's offerings within safety training and emergency preparedness.
June 2022,
Maersk to launch a dedicated coastal service in New Zealand
June 2022,
P. Moller - Maersk completes the acquisition of Senator International
June 2022,
OBE Organic collaborates with Maersk on sustainable ECO Delivery

Global Shipping Container Market:
Segmentation
By Container Size


Small Containers (20 feet)
Large Containers (40 feet)
High Cube Containers (40 feet)


By Product Type


Dry Storage Containers
Flat Rack Containers
Refrigerated Containers
Special Purpose Containers


By End-User


Food & Beverages
Consumer Goods
Healthcare
Industrial Products
Vehicle Transport


By Regions

North America

Europe
Asia-Pacific
LAMEA

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