The publisher estimates that the global shipping container market will experience significant growth due to increasing sea-borne trade activities across key countries and regions.The market is projected to reach $9.14 billion in 2024 and expand further to $12.6 billion by 2031, reflecting a compound annual growth rate (CAGR) of 4.80%. Leading players are expected to hold a prominent share in the market, driving demand for shipping containers.
Shipping containers, also known as Conex boxes, are cargo containers with the strength to withstand shipment, storage, and handling. These containers facilitate the transport of goods via land and sea, involving ships, rails, and trucks. They are typically used to transport heavy materials or palletized goods. The globally rising transportation sector, increasing concern about the safety of goods during transport, and rising investment in container handling infrastructure are key factors fueling demand for the shipping container market.
Many countries imposed lockdowns to prevent the outbreak of COVID-19, which changed global mobility patterns and economic activities. Contrary to expectations, demand for container shipping increased during the pandemic. Changes in consumption of goods and shopping patterns, such as an increase in electronic trade and lockdown measures, resulted in increased import demand for manufactured consumer goods, a large portion of which is transported in shipping containers.
Container shipping is primarily used in maritime transport. The pandemic has made maritime transport supply more unstable. Maritime trade flows increased further as some governments eased restrictions and approved national stimulus packages, and businesses stocked up in preparation for new pandemic waves. Changes in business patterns and new consumer behaviors are estimated to boost the shipping container market.
The significant increase in seaborne trade, as well as the growing number of manufacturing and construction industries' overseas trade, are expected to drive up container demand. Many companies are investing in research and development to drive container innovation. The growing number of ISO and non-ISO container manufacturing facilities is also expected to drive the shipping container market in the future.
The growth of shipping containers at a global level is pushed by the growth of the economy, rising seaborne trade, increasing demand for highly efficient and superior capacity shipping containers, and the rising trend of increasing use of remote container management (RCM) solutions.
Ships and containers have been modernized with new technologies such as artificial intelligence (AI), the Internet of Things (IoT), and big data. This will allow for better tracking, enable captains and customers to detect potential problems before they become emergencies, and improve environmental control. The result of this technology is remote container management (RCM), which allows monitoring the current location of containers, the temperature and humidity inside the container, and the power connection status at any time, anywhere in the world, throughout the transportation process. This RCM is useful in the transportation of goods in the food service and healthcare industries, where the environment is critical. This technologically advanced container is estimated to generate significant demand over time.
Owing to the fact that many products sold online are manufactured overseas, the massive growth of e-commerce has increased container shipping activities around the world. E-commerce allows for the availability of a diverse range of products across the globe, which increases the demand for more precise and prompt container shipping.
Container shipping will continue to be a growing part of future transportation because it is one of the preferred options for the transportation of goods in large quantities.
China produces a majority of the world's ISO containers. To meet the demand of the international shipping industry, all ISO and non-ISO containers manufactured in China are exported globally. The international market share of China's containers is growing, supported by low labor costs and substantial steel production and recycling capabilities.
Shipping containers are also used to transport consumer goods such as electronic devices, furniture, toys, and other items. The steady growth in consumer goods imports into the United States is expected to drive the shipping container market.
Intermodal transportation is becoming more popular, driving demand for dry containers due to its cost-effectiveness, environmental friendliness, and high efficiency. The rise in the manufacturing and construction industries' overseas trade is driving up demand for dry containers. Furthermore, significant growth in the leasing and renting of transportation containers is expected to create lucrative opportunities for the dry container market.
Dry containers have held the largest market share in the global shipping container market in recent years and are expected to continue this trend throughout the forecast period.
Leading shipping container vendors include China International Marine Containers (Group) Ltd. (CIMC), Dong Fang International Container (Hong Kong) Co. Ltd., Maersk Container Industry AS, Singamas Container Holdings Limited, CXIC Group Containers Company Limited, Sea Box, Inc., and W&K Container.
For instance, CIMC operates multiple factories with a significant annual container production capacity, being a major player in the international market.
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Shipping containers, also known as Conex boxes, are cargo containers with the strength to withstand shipment, storage, and handling. These containers facilitate the transport of goods via land and sea, involving ships, rails, and trucks. They are typically used to transport heavy materials or palletized goods. The globally rising transportation sector, increasing concern about the safety of goods during transport, and rising investment in container handling infrastructure are key factors fueling demand for the shipping container market.
Sales Analysis of Shipping Containers Market
The market for shipping containers has experienced significant demand from end users in recent years. As per the International Chamber of Shipping, a substantial amount of goods are transported via shipping containers annually. With the growth of the world economy, the shipping industry has expanded, leading to an increase in global trade and commerce. Naturally, the global container fleet has grown in size as well.Many countries imposed lockdowns to prevent the outbreak of COVID-19, which changed global mobility patterns and economic activities. Contrary to expectations, demand for container shipping increased during the pandemic. Changes in consumption of goods and shopping patterns, such as an increase in electronic trade and lockdown measures, resulted in increased import demand for manufactured consumer goods, a large portion of which is transported in shipping containers.
Container shipping is primarily used in maritime transport. The pandemic has made maritime transport supply more unstable. Maritime trade flows increased further as some governments eased restrictions and approved national stimulus packages, and businesses stocked up in preparation for new pandemic waves. Changes in business patterns and new consumer behaviors are estimated to boost the shipping container market.
The significant increase in seaborne trade, as well as the growing number of manufacturing and construction industries' overseas trade, are expected to drive up container demand. Many companies are investing in research and development to drive container innovation. The growing number of ISO and non-ISO container manufacturing facilities is also expected to drive the shipping container market in the future.
Key Opportunities in the Shipping Containers Market
Owing to supply chain disruptions and shipping container shortages, the ocean container industry has faced significant challenges in recent years. As global economies recover from the pandemic, shipping services continue to adapt to a highly volatile market.The growth of shipping containers at a global level is pushed by the growth of the economy, rising seaborne trade, increasing demand for highly efficient and superior capacity shipping containers, and the rising trend of increasing use of remote container management (RCM) solutions.
Ships and containers have been modernized with new technologies such as artificial intelligence (AI), the Internet of Things (IoT), and big data. This will allow for better tracking, enable captains and customers to detect potential problems before they become emergencies, and improve environmental control. The result of this technology is remote container management (RCM), which allows monitoring the current location of containers, the temperature and humidity inside the container, and the power connection status at any time, anywhere in the world, throughout the transportation process. This RCM is useful in the transportation of goods in the food service and healthcare industries, where the environment is critical. This technologically advanced container is estimated to generate significant demand over time.
Owing to the fact that many products sold online are manufactured overseas, the massive growth of e-commerce has increased container shipping activities around the world. E-commerce allows for the availability of a diverse range of products across the globe, which increases the demand for more precise and prompt container shipping.
Container shipping will continue to be a growing part of future transportation because it is one of the preferred options for the transportation of goods in large quantities.
Country-wise Insights
China's Market for Shipping Containers
China is expected to hold a prominent share in the global shipping container market during the forecast period. As a leading exporter of consumer goods worldwide, any changes in its export levels significantly impact the demand for shipping containers. Rapid recovery in consumer goods demand is expected to benefit the market.China produces a majority of the world's ISO containers. To meet the demand of the international shipping industry, all ISO and non-ISO containers manufactured in China are exported globally. The international market share of China's containers is growing, supported by low labor costs and substantial steel production and recycling capabilities.
The U.S. Market for Shipping Containers
The U.S. is expected to hold a prominent share in the global shipping container market during the forecast period. The country has one of the largest pharmaceutical markets and is a top importer and exporter of medical products. Investments in drug development and the production of various healthcare products are expected to provide opportunities for shipping container vendors.Shipping containers are also used to transport consumer goods such as electronic devices, furniture, toys, and other items. The steady growth in consumer goods imports into the United States is expected to drive the shipping container market.
Category-wise Insights
Dry Storage Containers
Dry storage containers are expected to account for a significant revenue share in the shipping containers market. These containers are used for the transportation of dry products, which have a high share among all types of products. They are available in various sizes, including 20 feet, 40 feet, and 10 feet.Intermodal transportation is becoming more popular, driving demand for dry containers due to its cost-effectiveness, environmental friendliness, and high efficiency. The rise in the manufacturing and construction industries' overseas trade is driving up demand for dry containers. Furthermore, significant growth in the leasing and renting of transportation containers is expected to create lucrative opportunities for the dry container market.
Dry containers have held the largest market share in the global shipping container market in recent years and are expected to continue this trend throughout the forecast period.
Competitive Analysis
The shipping container market has become extremely competitive over the last two decades, with the largest shipping companies dominating the market. The market is consolidated, with the top companies holding a substantial share through strategic planning, mergers, and collaborations.Leading shipping container vendors include China International Marine Containers (Group) Ltd. (CIMC), Dong Fang International Container (Hong Kong) Co. Ltd., Maersk Container Industry AS, Singamas Container Holdings Limited, CXIC Group Containers Company Limited, Sea Box, Inc., and W&K Container.
For instance, CIMC operates multiple factories with a significant annual container production capacity, being a major player in the international market.
Key Companies Profiled
- China International Marine Containers Co., Ltd.
- Singamas Container Holdings Limited
- CXIC Group Containers Company Limited
- Maersk Container Industry
- Sea Box, Inc.
- W&K Container
- YMC Container Solutions
- TLS Offshore Containers International
- OEG OFFSHORE LIMITED
- CARU Containers B.V.
- IWES LTD.
- Others
Key Segments Covered in Shipping Container Industry Analysis
Shipping Container Market by Product Type
- Dry Containers
- 20’ (20 ft.)
- 40’ (40 ft.)
- 40’ High Cube
- Others
- Reefer Containers
- 20’ (20 ft.)
- 40’ (40 ft.)
- 40’ High Cube
- Others
- Tank Containers
- Offshore Containers
Shipping Containers Market by Material
- Steel
- Aluminum
- FRP
- Hybrid
Shipping Containers Market by End User
- Bulk Commodity
- Automotive
- Capital Equipment
- Pharmaceuticals
- Chemicals
- Perishable and Frozen Items
- Others
Shipping Containers Market by Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Table of Contents
1. Executive Summary
2. Market Overview
3. Price Analysis, 2019 - 2023
4. Global Shipping Containers Market Outlook, 2019 - 2031
5. North America Shipping Containers Market Outlook, 2019 - 2031
6. Europe Shipping Containers Market Outlook, 2019 - 2031
7. Asia Pacific Shipping Containers Market Outlook, 2019 - 2031
8. Latin America Shipping Containers Market Outlook, 2019 - 2031
9. Middle East & Africa Shipping Containers Market Outlook, 2019 - 2031
10. Competitive Landscape
11. Appendix
Companies Mentioned
- China International Marine Containers Co., Ltd.
- Singamas Container Holdings Limited
- CXIC Group Containers Company Limited
- Maersk Container Industry
- Sea Box, Inc.
- W&K Container
- YMC Container Solutions
- TLS Offshore Containers International
- OEG OFFSHORE LIMITED
- CARU Containers B.V.
- IWES LTD.
Methodology
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