USD 9.21 billion
Shipping Container Market Size, Share, Growth Analysis, By Type(Dry Storage Containers, Flat Rack Containers, and Refrigerated Containers), By End-user(Food & Beverages, Consumer Goods, and Healthcare), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20R2019 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|Tables:
63
|Figures:
75
Shipping Container Market Insights
Global Shipping Container Market size was valued at USD 9.21 billion in 2022 and is poised to grow from USD 10.34 billion in 2023 to USD 26.16 billion by 2031, growing at a CAGR of 12.3% in the forecast period (2024-2031).
Shipping container market encompasses designing, developing, leasing, and selling homogenous containers for transporting products via diverse modes of transport including trucks, ships, and trains. The shipping container market is a crucial part of international trade, streamlining the transportation of products in the world. The market is experiencing remarkable growth owing to the increasing demand for containers backed by the growing number of consumer and industrial goods, rising globalization and e-commerce, and improving supply chains. Improvements like blockchain and IoT are actively incorporated to enhance security, tracking, and overall productivity. Nonetheless, the market is witnessing a few challenges, including growing freight costs, disturbances in the supply chain, and environmental concerns. Yet, the market is opportune to factors like growing sustainability initiatives, expansion of e-commerce, and growth of developing markets.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Dry Storage Containers
Fastest Growth
Refrigerated Containers
Growth Rate
12.3% CAGR
Global Shipping Container Market ($ Bn)
Country Share for Asia-Pacific Region (%)
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Shipping Container Market Segmental Analysis
Global Shipping Container Market is segmented by type, end-user, and region. Based on type, the market can be segmented into dry storage containers, flat rack containers, and refrigerated containers. Based on end-user, the market is segmented into food & beverages, consumer goods, and healthcare. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Shipping Container Market Analysis by Type
Based on type, the shipping container market is categorized into dry storage containers, flat rack containers, and refrigerated containers. The dry storage containers segment held a notable share of the market in the previous years and is expected to lead over the forecast period as well owing to high versatility, cost-effectiveness, easy handling, and security and durability. Dry storage containers may contain different categories of products like electronics, textiles, and more, which makes them appropriate for different cargo needs. They are also more economical for transport and production than specialized containers, increasing their accessibility in several industries. Also, they offer easy loading and unloading at ports and better security and durability, streamlining effective logistics.
On the other hand, the refrigerated containers segment is projected to grow considerably over the forecast period owing to increasing demand for perishables, the rise of e-commerce, and improved shelf-life. Escalating worldwide demand for fresh products, pharmaceuticals, and seafood increases the demand for temperature-controlled transportation. The growth of e-commerce, especially in online food delivery, is boosting the need for refrigerated solutions. Refrigerated containers enable long transport times, without compromising the ty and quality of products.
Shipping Container Market Analysis by End-User
Based on end-user, the market is segmented into food & beverages, consumer goods, and healthcare. The food & beverages segment held a notable market share in the previous years and is expected to continue dominance over the forecast period as well owing to the increasing demand for fresh produce, stringent regulatory standards, and diverse product range. The intensifying worldwide appetite for frozen and fresh foods is considerably impacting the demand for reliable shipping solutions. Moreover, compliance with strict safety and health regulations increased the need for temperature-controlled shipping for confirming optimal product quality. These factors are driving the segment’s growth.
On the other hand, the healthcare segment will hold a remarkable market share in the coming years owing to the growing demand for pharmaceuticals, specialized packaging needs, and the rise of e-commerce in healthcare. The increasing demand for medicines, biologics, and vaccines is fueling the demand for temperature-controlled and secure shipping. Several healthcare products need temperature control and specialized packaging, which demands insulated and refrigerated containers. Also, the growth of online pharmaceutical sales and online healthcare is increasing the demand for effective shipping.
Global Shipping Container Market Size By End-User
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Shipping Container Market Regional Insights
Geographically, Asia-Pacific dominated the market in the previous years and is expected to lead over the forecast period owing to the strong manufacturing hub, rise of e-commerce, and growing investment in infrastructure. Asia-Pacific is home to many leading manufacturing nations, like China, which significantly drives the demand for shipping container. Speedy growth of e-commerce and online sales in developing countries like India and China is boosting the demand and use of containers. Heavy investments are also seen in logistics facilities and infrastructure of ports that improve efficiency and capacity, simplifying management of large volume containers. The leading players engaged in shipping container in the region include Evergreen Marine Corporation, COSCO Shipping Lines, Yang Ming Marine Transport Corporation, Mediterranean Shipping Company, CMA CGM, and more.
Europe is the fastest-growing region in the global shipping container market due to strong trade ecology, improved port infrastructure and innovations and technology. Europe holds strong trade connections within the European Union and several global nations, streamlining better import and export practices. Key ports like Hamburg and Rotterdam are developed to manage huge container quantities, improving shipping efficiency in Europe. Companies in the region are also focusing on implementing sustainable practices and green technologies that align with regulatory norms and consumer choices. The region also invests in digital solutions and logistics technology for enhanced transparency and efficiency in shipping activities.
Global Shipping Container Market Size By Geography
- Largest
- Fastest
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Shipping Container Market Dynamics
Shipping Container Market Drivers
Optimization of Supply Chain
- Growing emphasis on logistics innovations and just-in-time is considerably propelling the market growth. Companies are actively implementing just-in-time approaches that need reliable and timely shipping solutions, which can be offered by shipping containers. Moreover, enhanced supply chain management and logistics practices improve efficacy of container use, thus impacting the growth of the shipping container market.
Growing Sustainability Trends
- Today, nearly all industries are focusing on sustainability and shipping containers are not behind. The growing awareness of ecological concerns is notably fueling the demand for environmentally friendly shipping solutions. This comprises recyclable containers and energy-efficient ships. Shipping businesses are also looking for different approaches to lower their carbon footprint and positively impact logistics practices and contain design.
Restraints
Technological Obstructions
- Most shipping businesses are still dependent on obsolete or old-fashioned technologies, which may notably hamper effective responsiveness and operational efficiency. This may significantly negatively impact market growth. Moreover, adopting novel technologies like blockchain and IoT may need major upfront costs associated with training and investment. This may create hesitation among businesses and hamper market growth.
Issues with Labor May Restrict Market Growth
- Shortage of labor and strikes and lack of proficiency may hinder market growth. shortage of labor at the ports and growing disputes among laborers may result in inefficiencies and delays in shipping products and overall container management. Moreover, a lack of skilled workforce in shipping and logistics may also restrict operational efficiency and overall market growth.
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Shipping Container Market Competitive Landscape
The global shipping container market is a highly competitive global market driven by many international competitors. Prominent corporations with cutting-edge AI and ML technology are Google, IBM, Microsoft, and NVIDIA. To support a wide range of applications across industries, these industry experts concentrate on creating cutting-edge algorithms, scalable platforms, and reliable infrastructure. Rapid advances in technology, strategic alliances, and large expenditures on research and development define the competitive environment.
Shipping Container Market Top Player’s Company Profiles
- Maersk Container Industry AS (Denmark)
- Textainer Group Holdings Limited (Bermuda)
- Seaco Global Limited (Bermuda)
- CXIC Group Containers Company Limited (China)
- Dong Fang International Asset Management Ltd. (China)
- W&K Container Inc. (US)
- CARU Containers B.V. (Netherlands)
- Hoover Container Solutions (US)
- UES International (Singapore)
- Storstac, Inc. (Canada)
- TLS Offshore Containers International (UK)
- CIMC Silvergreen AB (Sweden)
- Port Containers USA LLC (US)
- BSL Containers Ltd. (China)
- Shanghai Universal Logistics Equipment Co., Ltd. (China)
- Titan Container Sales Ltd. (UK)
- Sea Box Inc. (US)
Shipping Container Market Recent Developments
- In May 2024, Lancer Container Lines Ltd. has completed purchase of 200 containers by SINGAMAS, a leading enterprise in China. This acquisition highlights Lancer’s dedication to increasing its services in its container convoy and strengthening its working prowess in maritime industry.
- In March 2024, Stonepeak announced that it finished acquiring Textainer Group Holdings Limited to deliver the best in-class service and superior quality equipment to clients on the global scale.
- In May 2023, Hyster declared that it will offer 100% battery-enabled Hyster empty container handling solution for the CARU yard in Rotterdam. This electric container (empty) handling solution will be 650-volt lithium-ion battery powered with electricity by solar on-site at CARU yard.
Shipping Container Key Market Trends
- Supply Chain Resilience: Companies are reassessing their supply chains to decrease dependency on solitary sources and expand resilience against disturbances. This was majorly witnessed during the pandemic days. Businesses are also moving their manufacturing nearer to the end of markets to alleviate risks related to geopolitical stress and shipping delays on a global scale.
- Container Leasing Models: Businesses are rigorously moving towards leasing their containers instead of buying them completely. This enables high flexibility in scaling operations as per the changing demands. Moreover, the rise of the secondary market is impacting market growth. The market for already-used or recycled containers is growing as companies are seeking budget-friendly solutions, mainly in the emerging regions.
Shipping Container Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the shipping container market is considerably progressing due to the growing demand for goods on a global scale, supply chain optimization, and growing infrastructure development. However, the market is hampered by the growing freight rates, economic uncertainty, and strong market competition. Asia-Pacific is anticipated to lead the market owing to strong economic growth in different nations, rising investment in infrastructure, and a significant rise in e-commerce. Nonetheless, a few opportunities for the growth of the shipping container market include the rise of resilience solutions for the supply chain, the growth of container leasing, and innovative shipping models.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 9.21 billion |
| Market size value in 2031 | USD 26.16 billion |
| Growth Rate | 12.3% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Shipping Container Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Shipping Container Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Shipping Container Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Shipping Container Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Shipping Container Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Shipping Container Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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