Boiler, Tank, And Shipping Container Global Market Report 2024

The boiler, tank, and shipping container market size has grown strongly in recent years. It will grow from $230.24 billion in 2023 to $243.84 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth witnessed in the historical period can be attributed to factors like industrialization, increased energy demand, expansion in the oil and gas industry, infrastructure development, and growth in maritime trade.

The boiler, tank, and shipping container market size is expected to see strong growth in the next few years. It will grow to $299.96 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth in the forecast period can be attributed to factors such as the ongoing energy transition, stricter environmental regulations, the adoption of digitalization and IoT technologies, the emergence of the hydrogen economy, and the impact of e-commerce and logistics. Notable trends in this forecast period include the development of energy-efficient boilers, the automation of tank farms, the application of containerization in agriculture, advancements in tank coating and lining technologies, and increased usage of intermodal containers.

The forecasted period is expected to witness market growth driven by rapid advancements in wireless technology and the trend of miniaturization, which involves designing smaller components for equipment. Additionally, manufacturing in this industry is benefiting from the incorporation of technologies like 3D printing, artificial intelligence, and big data analytics. These technological integrations are leading to increased productivity, reduced operating costs, and improved profit margins. For example, as per Compass, internet traffic is projected to triple compared to its previous levels in 2022, and the share of IoT devices is anticipated to grow by 28% by 2025, further bolstering the boiler, tank, and shipping container manufacturing market during the forecast period.

The primary types of boilers, tanks, and shipping containers are power boilers and heat exchangers for applications like power plants, metal tanks made from heavy gauge material, metal cans, boxes, and other metal containers crafted from light gauge materials. These containers encompass various product types, including refrigerated containers, dry storage containers, special-purpose containers, flat rack containers, and other specialized variants. They are available in different sizes such as small, large, and high cube containers, and find utility in residential, commercial, and various other applications.

The boiler, tank, and shipping container market research report is one of a series of new reports that provides boiler, tank, and shipping container market statistics, including boiler, tank, and shipping container industry global market size, regional shares, competitors with a boiler, tank, and shipping container market share, detailed boiler, tank, and shipping container market segments, market trends and opportunities, and any further data you may need to thrive in the boiler, tank, and shipping container industry. This boiler, tank, and shipping container market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Numerous metal and mineral manufacturing companies have embraced robotics and automation to enhance the efficiency and productivity of their plants. This involves incorporating sensors into various machines to access valuable data for optimizing operations and reducing the risk of breakdowns. As an illustration, in November 2021, a report from the Association for Advancing Automation, a U.S.-based automation trade association, highlighted the growing demand for automation. This was evident in the second quarter of 2021 when robot orders surged by 67%. During Q2 2021, companies in North America placed orders for 9,853 robots with a total value of $501 million.

Leading companies in the boiler, tank, and shipping container market are actively innovating by introducing new products like double-pallet shipping containers to cater to a broader customer base, boost sales, and drive revenue growth. A double-pallet shipping container is specifically designed to accommodate and transport two standard-sized pallets concurrently. As an example, in December 2021, Tower Cold Chain, a UK-based provider of temperature-controlled containers, unveiled the KTM42D, a reusable double-pallet container. Notably, this product stands out due to its passive temperature management system, which ensures precise temperature control through data logging technology. It maintains an internal temperature range of -80 to -60 degrees Celsius, making it suitable for transporting sensitive items such as vaccines and products from the life sciences sector that require consistent temperature control during storage and transit.

Major companies operating in the boiler, tank, and shipping container market include Ball Corporation, China International Marine Containers (Group) Ltd., General Electric Company, Alfa Laval AB, Ardagh Group S.A., Doosan Heavy Industries & Construction Co. Ltd., Pacific International Lines (Private) Limited, BWX Technologies Inc., CIMC Enric Holdings Limited, A.P. Møller-Mærsk A/S, Novelis Inc., Rio Tinto Group, Alcoa Corporation, United Co RUSAL PLC, Aluminum Corporation of China Limited (CHALCO), Glencore International, Emirates Global Aluminum, Norsk Hydro ASA, Angang Steel Company Limited, Steel Authority of India Limited, SSAB AB, Nucor Corp, Compagnie de Saint-Gobain S.A., Nippon Steel & Sumitomo Metal Corporation, Vallourec SA, Voestalpine AG, Mechel PAO, Atlas Copco AB, Metso Oyj.

Asia-Pacific was the largest region in the boiler, tank, and shipping container market in 2023. Western Europe was the second largest region in the boiler, tank, and shipping container market. The regions covered in the boiler, tank, and shipping container market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the boiler, tank, and shipping container market include Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The boilers, tanks and shipping containers market consists of sales of dry storage container, open top tanks, and half height containers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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