Pune, India., Dec. 20, 2023 (GLOBE NEWSWIRE) -- The global shipping container market is set to gain impetus from the persistent expansion of seaborne trade activities. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Shipping Container Market Size, Share & Industry Analysis, By Size (20 feet , 40 feet , Others)By Type (Dry Storage Container, Flat Rack Container, Open Top Container, Refrigerated Container, Insulated or thermal Container, Special Purpose Container) Others and Regional Forecast, 2019-2026.” The report further states that shipping containers are experiencing increasing popularity worldwide backed by the high demand from customers.
The whole world is facing an unprecedented challenge of the COVID-19 pandemic. Several industries have shut down their manufacturing facilities and have shifted towards the production of hand sanitizers, PPE kits, and masks to cater to high demand from front-line workers, as well as common people. Our reports include an in-depth analysis of every factor that can either drive or hamper the overall market growth. It will help you focus on the right areas for investments.
Drivers & Restraints-
Increasing Research & Development Activities to Propel Growth
The United Nations Conference on Trade and Development (UNCTAD) declared in its statistics that in 2018, approximately 11 billion tons of seaborne trade volume was raised. Out of that, around 7.8 billion tons were only dry cargo trade volume. It shows that the number is set to surge in the near future. Also, several organizations present in this industry are expected to face huge competition because of the rising material cost and low prices of shipping containers. Therefore, these organizations are investing huge sums in research and development activities for introducing innovative products. However, slower economic growth in emerging economies may hamper the shipping container market growth.
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Competitive Landscape-
Key Players Aim to Develop New Manufacturing Facilities to Strengthen Their Positions
The global market houses a large number of renowned manufacturers that are presently aiming to strengthen their positions. To do so, they are adopting the strategy of signing new agreements with local firms. Some of the others are planning to construct new manufacturing facilities to cater to the growing customer demand.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit:https://www.fortunebusinessinsights.com/shipping-container-market-102242
Segments-
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Regional Insights-
Asia Pacific to Dominate Fueled by Availability of Large Coastal Line
Geographically, Asia Pacific is projected to lead throughout the forthcoming years by holding the largest shipping container market share. China is considered to be the major contributor to this growth as it is a manufacturing hub for shipping containers. At the same time, the availability of a broad coastal line in the region would aid growth.
On the other hand, Europe is likely to showcase considerable growth in the upcoming years on account of the constant improvements in transportation services. In North America, the rising trend of renting shipping containers would accelerate growth.
Report Coverage:
The report delivers an elaborate assessment of numerous customers’ journeys related to the market, regions, and segments. At the same time, it provides multiple customer impressions about shipping containers and their usage. The analysis takes a closer look at their fears and pain points across various customer touch points. The business intelligence and consultation solutions would aid interested stakeholders, such as chief experience officers to define customer experience maps catered to their requirements. They can refine customer experience and engagement with their own brands.
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A list of prominent Shipping Container manufacturers operating in the global market:
- China International Marine Containers (Group) Ltd.
- TLS Offshore Containers International
- W&K Containers, Inc.
- China Shipping Container Lines Co. Ltd.
- Cxic Group
- A.P. Moller - Maersk Group
- YMC Container Solutions
- Singamas Container Holdings Limited
- Hapag-Lloyd AG
- Other key market players
COVID-19 Impact:
Notable Industry Development:
- December 2020: India’s Ministry of Ports, Shipping and Waterways has developed a committee to scrutinize the feasibility of manufacturing shipping containers at Bhavnagar, Gujarat. The project will be conducted under the Atmanirbhar Bharat initiative.
- May 2019: China International Marine Containers Co., Ltd. signed an agreement with Aker Group. It will aid both companies to jointly explore innovative business opportunities in modular buildings and offshore fields.
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