Covina, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Shipping containers are also called as intermodal container designed with large standardized container which is used for different modes of transport without reloading and unloading their cargo.
Growing population and increased trade activities across globe has become major driving factor in market growth. Increased demand for transportation of cargo through water ways have further facilitated the demand for target market growth. Advancement in commercial vessels and strong presence of players in providing better, efficient, and innovative cargo ships is anticipated to increase the demand for Shipping Containers market growth.
Key Highlights –
- In August 2022, Concor a State-run Container Corporation of India Ltd., placed an order for 10,000 containers on APPL Containers Pvt Ltd for Rs 477 crore which has become the first contract for newly opened Bhavnagar-based box manufacturer in Gujarat, India. This contract will help to reduce dependence on China.
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Key Market Insights from the report:
Shipping Containers Market accounted for US$ 10.78 billion in 2022 and is estimated to be US$ 30.2 billion by 2032 and is anticipated to register a CAGR of 10.2%. The Shipping Containers Market is segmented based on Size, Product Type, and Region.
- Based on Size, Shipping Containers Market is segmented into Small Container (20 feet), Large Container (40 feet), and High Cube Container (40 feet).
- Based on Product Type, Shipping Containers Market is segmented into Dry Storage Container, Flat Rack Containers, Refrigerated Container, Special Purpose Container, and others.
- By Region, the Shipping Containers Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Analyst View –
Rapid growth in urbanization has inclined industries towards shipping which has upsurge the target market growth. Further, growing market consolidation activities and trend of automation in marine transportation has facilitated the demand for market growth. Furthermore, rise in the shipping and maritime trade in developing countries is likely to propel Shipping Containers market growth over the forecast period.
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Competitive Landscape & their strategies of Shipping Containers Market:
The prominent players operating in the Shipping Containers Market includes, China International Marine Containers (Group) Ltd., TLS Offshore Containers International, CXIC GROUP, A.P. MOLLER - MAERSK GROUP, Singamas Container Holdings Limited, Dong Fang International Asset Management Ltd., W&K Containers, Inc., YMC Container Solutions, China Shipping Container Lines Co. Ltd., Jindo Co. Ltd., and others.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Here are some of the key trends in the shipping containers market:
- The increasing demand for smart containers: Smart containers are shipping containers that are equipped with sensors and monitoring systems that can track the container's location, condition, and performance. This is helping to improve the efficiency and security of shipping.
- The growing adoption of IoT-enabled containers: IoT-enabled containers are shipping containers that are connected to the internet. This allows for real-time tracking and monitoring of the container, which can help to improve the efficiency of shipping operations.
- The rising demand for sustainable shipping containers: Shipping companies are increasingly looking for sustainable shipping containers that are made from recycled materials and that have a low environmental impact.
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