Selbyville, Delaware, July 04, 2024 (GLOBE NEWSWIRE) --
The shipping containers market valuation is predicted to exceed USD 14.2 billion by 2032, as reported in a research study by Global Market Insights Inc.
The increasing globalization of trade and the subsequent rise in international shipping activities is driving the industry growth. With the expanding global trade, the demand for efficient and reliable long-distance transportation is increasing. To that end, shipping infrastructure has grown integral as it provides standardized and safe means of transporting a variety of goods. The rise of e-commerce has heightened the need for advanced shipping and transportation infrastructure, resulting in the higher demand for shipping containers.
Technological advancements in container design and materials will also fuel the product demand. Modern containers are built with stronger and lighter materials to ensure longevity and reduce transportation costs. Innovations, such as smart containers equipped with GPS tracking, temperature control and real-time tracking systems are gaining traction for providing increased safety and efficiency in cargo. For instance, in April 2024, Hapag-Lloyd launched “Live Position”, its first dry container tracing product for customers for enjoying details regarding the location of their shipments, from the start of transportation until the arrival at the destination. The increasing emphasis on sustainability and the adoption of environmentally friendly practices in the shipping industry are encouraging the use of reusable containers, further adding to the market growth.
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The shipping containers market value from the consumer goods segment will register noteworthy CAGR from 2024 to 2032 owing to the rising global demand for manufactured products and retail goods. Shipping containers help in transporting a wide range of consumer goods including electronics, clothing, household goods and packaged foods across continents. The fixed size and rugged design ensure safe and cost-effective transportation, making it easier to move products from manufacturers to dealers and ultimately to consumers.
The shipping containers industry from the high cube containers segment may exhibit a decent growth rate over 2024-2032 due to their increased capacity and versatility in meeting the rising demand for efficient cargo transportation. High-quality cube containers, which provide an additional step of height compared to conventional containers, enable larger containers, maximize space utilization, and reduce transportation costs per item. They are especially useful for projects involving large and bulky products, such as automotive, appliance and furniture services.
North America shipping containers market will register a robust CAGR from 2024 to 2032 attributed to strong manufacturing sector, burgeoning e-commerce activities, and strategic investments in logistics infrastructure. The diversified economy and robust manufacturing processes are driving the demand for shipping containers for a wide range of products, from automotive parts to electronics and pharmaceuticals. Ongoing investments in port expansion, intermodal transport infrastructure and smart logistics technologies are further increasing the ability to handle the surging volumes, subsequently stimulating the regional market growth.
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Some of the leading shipping containers market are Almar Container Group, W&K Container Inc., CARU Containers BV, Triton International Limited, China International Marine Containers Co. Ltd, Singamas Container Holdings Limited, China Shipping Container Lines, Sea Box Inc., Evergreen Marine Corporation, and Ritveyraaj Cargo Shipping Containers are some of the major shipping containers industry contenders. These companies are actively investing in R&D activities to tailor their products to meet specific needs while focusing on expanding their manufacturing capacities. To cite an instance, in May 2024, COSCO Shipping launched the world's first 10,000-DWT pure electric container ships, Green Water 01 and Green Water 02, with a combined battery capacity of over 50,000 kWh.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates and calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market definitions
Chapter 2 Executive Summary
2.1 Shipping Containers Market 3600 synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Shipping Containers Market ecosystem analysis
3.2 Supplier landscape
3.2.1 Manufacturers
3.2.2 Ports & terminal operators
3.2.3 Technology providers
3.2.4 Container leasing companies
3.2.5 End users
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Growing international trade
3.8.1.2 Rise of e-commerce industry
3.8.1.3 Increasing demand for refrigerated containers for perishable goods
3.8.1.4 Expansion of manufacturing activities and industrial production
3.8.2 Industry pitfalls & challenges
3.8.2.1 Economic downturns
3.8.2.2 High trade tariffs & disputes
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
