ISO Tank Container Market Opportunities and Strategies to 2033

This report describes and explains the ISO tank container market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global ISO tank container market reached a value of nearly $1.5 billion in 2023, having grown at a compound annual growth rate (CAGR) of 12.04% since 2018. The market is expected to grow from $1.5 billion in 2023 to $2.39 billion in 2028 at a rate of 9.72%. The market is then expected to grow at a CAGR of 8.96% from 2028 and reach $3.67 billion in 2033.

Growth in the historic period resulted from growth in the oil and gas industry, pharmaceutical industry growth, rise in demand for specialized logistics, increase in government initiatives and stringent environmental and safety regulations. Factors that negatively affected growth in the historic period include fluctuating price of raw materials and slow economic progress in some countries.

Going forward, growth in international trade, a growing petrochemicals industry, increasing industrialization across various sectors, growth in the chemicals industry, growing demand for liquefied natural gas (LNG) and growing demand for safe and efficient transport will drive the market. Factors that could hinder the growth of the ISO tank container market in the future include trade tariffs and import restrictions and labor shortages.

The ISO tank container market is segmented by container type into less than 30 ft and greater than 30 ft. The less than 30 ft market was the largest segment of the ISO tank container market segmented by container type, accounting for 79.9% or $1.2 billion of the total in 2023. Going forward, the greater than 30 ft segment is expected to be the fastest growing segment in the ISO tank container market segmented by container type, at a CAGR of 11.43% during 2023-2028.

The ISO tank container market is segmented by transport mode into road, rail and marine. The road market was the largest segment of the ISO tank container market segmented by transport mode, accounting for 52.3% or $787.75 million of the total in 2023. Going forward, the marine segment is expected to be the fastest growing segment in the ISO tank container market segmented by transport mode, at a CAGR of 11.54% during 2023-2028.

The ISO tank container market is segmented by application into chemicals, petrochemicals, food and beverage, pharmaceuticals, industrial gas and other applications. The chemicals market was the largest segment of the ISO tank container market segmented by application, accounting for 43.7% or $657.44 million of the total in 2023. Going forward, the pharmaceuticals segment is expected to be the fastest growing segment in the ISO tank container market segmented by application, at a CAGR of 11.14% during 2023-2028.

Asia-Pacific was the largest region in the ISO tank container market, accounting for 42.6% or $642.18 million of the total in 2023. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the ISO tank container market will be Asia-Pacific and Western Europe, where growth will be at CAGRs of 10.49% and 9.89% respectively. These will be followed by North America and Eastern Europe, where the markets are expected to grow at CAGRs of 9.32% and 8.10% respectively.

The global ISO tank container market is concentrated, with a small number of players dominating the market. The top ten competitors in the market made up 47.11% of the total market in 2023. China International Marine Containers Co. Ltd. (CIMC) was the largest competitor with a 27.32% share of the market, followed by Welfit Oddy Pty. Ltd. with 6.81%, Singamas Container Enterprises Limited with 4.71%, Chart Industries Inc. with 4.25%, Sure Tank Ltd with 2.31%, Bertschi AG with 0.73%, THIELMANN with 0.45%, Shanghai Eternal Faith Industry Co., Ltd. with 0.19%, Danteco Industries BV with 0.17% and Nantong Tank Container CO. Ltd. (NT Tank) with 0.17%.

The top opportunities in the ISO tank container market segmented by container type will arise in the less than 30 ft segment, which will gain $671.33 million of global annual sales by 2028. The top opportunities in the ISO tank container market segmented by transport mode will arise in the road segment, which will gain $452.16 million of global annual sales by 2028. The top opportunities in the ISO tank container market segmented by application will arise in the chemicals segment, which will gain $399.6 million of global annual sales by 2028. The ISO tank container market size will gain the most in China at $252.22 million.

Market-trend-based strategies for the ISO tank container market include comprehensive inventory management tools for efficient container equipment selection, innovative extendable chassis solutions for improved load distribution and maneuverability, strategic partnerships and acquisitions among major players to enhance product offerings and patent approvals for enhanced domestic tank containers featuring market-specific adjustments.

Player-adopted strategies in the ISO tank container market include focus on strengthening business operations through new product developments, diversifying product lines to meet the changing customer needs through the launch of new products, expanding geographic footprint through strategic acquisitions and enhancing business operations through the launch of new products.

To take advantage of the opportunities, the analyst recommends the ISO tank container companies to focus on expanding digital accessibility, focus on advanced extendable chassis solutions, focus on domestic market customization, focus on the greater than 30 ft segment for growth, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships, provide competitively priced offerings, participate in industry events, continue to use B2B promotions and focus on enhancing expertise and custom solutions for pharmaceuticals clients.