Shipping containers are those containers that are used in the transport and carriage of goods without the need for unloading and reloading at intermediate points. These containers facilitate transport of goods via both, land and sea borne modes of transport, which may involve use of ships, rails and/or trucks.
Thus, intermodal transport of goods has become more efficient. Moreover, renting of shipping containers has become popular trend across businesses across different sectors due to its affordability, convenience, simplicity, to store large amount of stuff.
According to Persistence Market Research, the global shipping containers market is anticipated to witness significant market valuation and a robust growth rate during the period of assessment 2017-2025. The global shipping containers market has witnessed positive growth trend since 2012. In 2016, the global market for shipping containers was valued at US$ 4600 Mn in 2016 and is estimated to a value higher than US$ 11 Bn by the end of 2025. The global market for shipping containers is poised to grow at a robust rate to register a value CAGR of 8.3% throughout the period of forecast.
The growth of the shipping containers at a global level is pushed by the growth in economy, rising seaborne trade, increasing demand for highly efficient and superior capacity shipping containers, growth in sales of specialized shipping containers by department of defence and rising trend of increasing use of remote container management (RCM) solutions.
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- 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.
Dry containers to be largely used in shipping in the coming years
Dry containers have been witnessing increasing demand for shipping and logistics across the globe. During 2012-2016 timeline, dry containers reflected maximum market share in the global shipping containers market. This trend is being witnessed till date and is expected to continue throughout the forecast period.
The dry containers segment is projected to grow at a high value CAGR of 8.4% throughout the period of assessment and is estimated to reach a value of over US$ 7 Bn by the end of the year of assessment.
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20 ft. sub segment to be highly used as a dry container in carriage and transport of goods
The dry containers segment is further categorized on the basis of 20 ft., 40 ft., 40’ high cube and others. The 20 ft. sub segment of these sub segments is anticipated to grow at a high rate to register a value CAGR of 8.6% during the period of assessment to reach a value of over US$ 1900 Mn by the end of the year of assessment (2025).
On the other hand, the 40’ high cube sub segment is the largest with respect to market share. This sub category is estimated to reach a value of over US$ 3.4 Bn by the end of the year of assessment from a valuation of about US$ 1.8 Bn in 2017 and is projected to grow at a value CAGR of 8.4% during the 2017-2025 timeline.
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Reefers to significantly contribute to the growth of the global shipping containers market
Reefer containers are widely used while shipping. These containers come in different sizes, same as dry containers, namely, 20 ft., 40 ft., and 40 ft. high cube. Reefer containers are projected to be the fastest growing segment in the product type category during the forecast period. This segment is expected to slate a high value CAGR of 10.2% throughout the period of assessment. 40 ft. high cube and 20 ft. sub segments are expected to push the growth of the reefer containers market.
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