London, April 18, 2024 (GLOBE NEWSWIRE) -- The ISO tank container market size is estimated to jump from its current valuation of US$250 Mn in 2022 to US$570 Mn by 2030. The market is expected to record a CAGR of 12.5%, which is marked by the increasing demand for crude oil and gas.
The ISO tank container market is poised for continued growth, driven by globalization, increasing trade volumes, and the need for safe and efficient transportation of bulk liquids and gases.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2022 – 2030 | |
| Market Size in 2022 | US$250 Mn | |
| Estimated Market Size in 2030 | US$570 Mn | |
| CAGR | 12.5% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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The expansion of global trade and supply chains necessitates the efficient and reliable transportation of bulk liquids and gases, driving the demand for ISO tank containers.
Market players need to focus on innovation, compliance, and addressing infrastructure challenges to capitalize on growth opportunities effectively. Additionally, catering to emerging trends such as customization and lightweight materials will be crucial for maintaining competitiveness in the market.
There is a growing trend toward offering customized and specialized ISO tank containers tailored to specific applications and requirements, such as cryogenic tanks for liquefied natural gas (LNG) or refrigerated tanks for food products.
Manufacturers are investing in research and development to enhance the design and functionality of ISO tank containers, including improvements in insulation, temperature control, and monitoring systems.
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Key Research Insights
- The chemicals industry captured the largest market share in the ISO tank container market.
- Multi-compartment tanks captured the largest market share in the ISO tank container market.
- North America captured the largest market share in the ISO tank container market.
- Asia Pacific region is experiencing the highest CAGR in the ISO tank container market.
Insights into Segmentation Analysis
Chemicals Industry Captures the Notable Market Share
- The chemicals industry is expected to capture the significant market share in the ISO tank container market due to its extensive use of these containers for the transportation of various chemical products.
- ISO tank containers provide a safe, compliant, and cost-effective means of shipping both hazardous and non-hazardous chemicals.
- With the global chemical industry continuing to expand and stringent safety and regulatory standards in place, these containers have become indispensable for chemical manufacturers and logistics providers, positioning the sector as a dominant market player.
Multi-compartment Tanks are Expected to Record the Significant Market Share
- Multi-compartment tank surges ahead in the ISO tank container market. as they offer versatility and cost-efficiency.
- These tanks allow for the simultaneous transportation of multiple types of liquids or gases within a single container, optimizing cargo capacity and reducing transportation costs.
- Industries that require various products to be transported together, such as chemicals, benefit from multi-compartment tanks. This flexibility in accommodating diverse cargo types positions them as the preferred choice, driving their dominant market share.
Key Report Highlights
- Increasing demand for diagnostic procedures in healthcare, research, and pharmaceutical industries drive the market growth.
- The expanding scope of research in fields such as cancer biology, microbiology, and stem cell research drives the demand for cytocentrifuges in research institutes.
- The global chemical industry's growth is a significant driver of the ISO tank container market.
Insights into Regional Analysis
Asia Pacific Market to Grow Notably
- Asia Pacific is anticipated to expand at notable CAGR in the ISO tank container market due to several compelling factors.
- The region's significantly expanding chemical industry, driven by manufacturing and export activities, demands efficient and compliant transportation solutions.
- The pharmaceutical and food industries are flourishing, requiring safe and reliable logistics for their products.
- Asia Pacific's burgeoning population and urbanization drive the need for essential chemicals and goods, further boosting the market.
- Increasing sustainability initiatives and the region's role in global trade contribute to the higher adoption rate of ISO tank containers.
- Investments in infrastructure and intermodal transportation systems facilitate seamless container movement, positioning Asia Pacific as a high-growth market for ISO tank containers.
North America to Capture Significant Market Share
- North America is expected to capture the notable market share in the ISO tank container market due to several key factors. The region boasts a robust and diverse chemical industry, which relies on ISO tank containers for the safe and efficient transport of chemicals.
- The pharmaceutical and food industries in North America are growing, further increasing the demand for these containers to transport sensitive and high-value products. The well-developed infrastructure, stringent safety regulations, and strong emphasis on environmental compliance also favor the adoption of ISO tank containers.
- North America's position as a leading global trade hub facilitates international trade, making it a prime market for ISO tank container operators and manufacturers.
Key Companies Profiled in the Global ISO Tank Container Market
- Raffles Lease Pte. Ltd.
- Bulkhaul Ltd.
- Hoover Ferguson Group
- Tankformator
- Singamas Container Holdings
- Suretank Group
- Uralcryomash
- Bertschi AG
- Welfit Oddy
- Stolt Tank Containers
- Seaco Global
- CXIC Group
- Nantong CIMC Tank Equipment Co., Ltd.
- Eurotainer
- Klinge Corporation
Global ISO Tank Container Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Transport Mode Coverage, By Container Type Coverage, By End-use Industry Coverage, By Geographic Coverage and Leading Companies): https://www.fairfieldmarketresearch.com/report/iso-tank-container-market
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