Pune, India, June 27, 2023 (GLOBE NEWSWIRE) -- The global ISO container market size was valued at 737.9 thousand units in 2022. The market is projected to grow from 801.5 thousand units in 2023 to 1,499.2 thousand units by 2030, exhibiting a CAGR of 9.4% during the forecast period. Large-scale transportation of liquids, gases, and powders requires the use of specialized shipping containers called ISO tank containers. These containers are created and built to comply with international safety standards and are frequently utilized in the chemical and petrochemical industries. In the next few years, it is projected that the market for ISO tank containers will grow significantly as a result of the increased demand for these containers across a number of industries. Fortune Business Insights presents this information in their report titled "Global ISO Container Market, 2023–2030.
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Key Takeaway:
- Rising Demand of the Product in Various Industries Accelerated Market Growth During COVID-19 Pandemic
- Increasing Use of IoT-based Solutions in ISO Container to Propel Market Growth
- Rise in demand of Oil and Gas Exports to Contribute to Market Growth
- Probability of Damage in Longer Tank Containers to Hinder Market Growth
- Road Segment to Hold Majority Market Share as Large Quantities Can Be Transported
- Multi-Compartment Tank to Hold Highest Market Share as They Are More Versatile for Different Liquid Products
- Transportation of Petrochemicals to Generate Maximum Revenue as They Have Extensive Commercial Applications
COVID-19 Impact:
During the COVID-19 Pandemic, Increasing Demand in a Variety of Industries Has Accelerated Market Growth
Long-term effects include a rise in demand for ISO containers in the healthcare, e-commerce, and chemicals-petrochemicals industries. Manufacturers will attempt to modify their operational business model following the COVID-19 pandemic and develop a more disruption-proof model in order to handle such emergency situations in the future. In contrast, exports from China have performed significantly better than imports. In the months of March and May of 2020, imports decreased by 5.8% while exports increased by 1.3%. UNCTAD has looked into the complicating factors that are impeding the restoration of commerce as a result of record container shortages.
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Report Coverage:
• Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
• Comprehensive insights into the regional developments.
• List of major industry players.
• Key strategies adopted by the market players.
• Latest industry developments include product launches, partnerships, mergers, and acquisitions.
ISO Container Market Segments:
Due to Road Vehicle Productivity, the Road Segment Will Maintain Majority Market Share
On the basis of transportation mode, the market is classified into rail, marine, and road. The demand for the road department is rising as a result of major improvements in road vehicle productivity and road infrastructure quality, as well as the eventual abolition of rules restricting road transportation.
Due to their higher advantage, Multi-Compartment Tanks will Hold the Largest Market Share
Based on container type, the market is divided into multi-compartment tanks, lined tanks, reefer tanks, cryogenic and gas tanks, and swap body tanks. Due to their higher advantage over their competitors, multi-compartment tanks are predicted to grow rapidly in the market. They are more adaptable for a variety of liquid products since they are provided with two or more compartments in various variants.
Using Petrochemical Transportation to Increase Revenue
Based on end-use industry, the market is segmented into petrochemicals, industrial gas, food & beverage, chemicals, pharmaceuticals, and others that include paints. Due to rising demand, the petrochemical segment saw the quickest rise on the global market. Petrochemicals are chemicals that are made from petroleum or natural gas and have numerous industrial uses. During the projection period, there will be more demand for petrochemicals than there is supply of diesel and gasoline.
Regional Insights-
Asia Pacific Dominates the Market due to Presence of Leading Manufacturers
The Asia Pacific region dominated the regional market and will hold a sizable portion of it in the years to come. Asia Pacific nations, including China, India, South Korea, and Japan, have actively participated in concrete marine trade, which has significantly aided Japan's rise to market dominance. China, the biggest producer of ISO containers, accounts for more than 80% of global output. Since India began producing its own containers to lessen its reliance on Chinese traders, Chinese container production has suffered on the world market.
Competitive Landscape
Leading Players Concentrate on Cutting-Edge Container Tank Products and Technology
The industry is recognized as being extremely competitive due to the existence of numerous competitors operating on a worldwide scale as well as some locations where domestic firms hold a substantial market share.
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Drivers & Restraints:
Increase in Demand for Oil and Gas Exports will Spur Market Expansion
On the global market, there has been a sharp growth in the usage of gas and crude oil. With each passing year, the aggregate production is increasing to previously unheard-of heights. The finding of shale gas in the U.S. and Russia has contributed to this. According to our assessment, output will continue to exceed real needs in the upcoming years. On the other hand, as output increases, fewer active wells are being drilled. For example, the US produced 12.8 million barrels per day in 2019 and over 12 million in 2018. Additionally, in the aforementioned years, daily gross natural gas withdrawals were 109.4 billion cubic feet and 116.8 billion cubic feet, respectively. These factors are expected to increase the ISO container market share.
During transit, loading, or unloading, changes in temperature and pressure inside the container may result in accidents and put stress on the shell. These factors may impede the ISO container market growth.
List of Key Players Mentioned in the Report:
- Intermodal Tank Transport (U.S.)
- Bertschi AG(Switzerland)
- Bulkhaul Limited (U.K.)
- Royal Den Hartogh Logistics (Netherlands)
- HOYER GmbH (Taiwan)
- Interflow TCS Ltd. (U.K.)
- New Port Tank (Netherlands)
- Sinochain Logistics Co., Ltd. (China)
- Stolt-Nielsen Limited (U.K.)
- VTG Tanktainer GmbH (Germany)
Recent Development of the ISO Container Market
- January 2022 - China International Marine Containers Ltd. announced the new installation of hydrogen refueling stations, hydrogen cylinders, and energy tank stations to reduce carbon dioxide emissions.
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Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global ISO Container Key Players Market Share Insights and Analysis, 2021
- Global ISO Container Size Estimates and Forecasts (Quantitative Data), By Segments, 2019-2030
- Key Findings
- By Transport Mode (Volume)
- Road
- Rail
- Marine
- By Container Type (Volume)
- Multi-Compartment Tank
- Lined Tank
- Reefer Tank
- Cryogenic & Gas Tanks
- Swap Body Tank
- By Application (Volume)
- Chemicals
- Petrochemicals
- Food & Beverage
- Pharmaceuticals
- Industrial Gas
- Others (Paints etc.)
- By Region (Volume )
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- North America ISO Container Size Estimates and Forecasts (Quantitative Data), By Segments, 2019-2030
- Key Findings
- By Transport Mode (Volume)
- Road
- Rail
- Marine
- By Container Type (Volume)
- Multi-Compartment Tank
- Lined Tank
- Reefer Tank
- Cryogenic & Gas Tanks
- Swap Body Tank
- By Application (Volume)
- Chemicals
- Petrochemicals
- Food & Beverage
- Pharmaceuticals
- Industrial Gas
- Others (Paints etc.)
- By Country (Volume)
- U.S.
- By Transport Mode
- Road
- Rail
- Marine
- By Transport Mode
- Canada
- By Transport Mode
- Road
- Rail
- By Transport Mode
- U.S.
TOC Continued…!
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