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

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).

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. 'CIMC Group (China)', 'Singamas Container Holdings Ltd. (Hong Kong)', 'China International Marine Containers (Group) Co., Ltd. (China)', '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)'

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. 

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. 

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.