Shipping Container Market is Projected to Develop at an Impressive 12.3% CAGR through 2031 | SkyQuest Technology
Westford,USA, Oct. 04, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the shipping container market will attain a value of USD 26.16 billion by 2031, with a CAGR of 12.3% over the forecast period (2024-2031). Rapidly expanding e-commerce activity and growing number of import and export operations around the world are projected to bolster the demand for shipping containers around the world. The signing of new trade agreements and growing international trade through seaways are also expected to uplift sales of shipping containers going forward.
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Browse in-depth TOC on “Shipping Container Market”
- Pages – 202
- Tables – 63
- Figures – 75
Shipping Container Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 10.34 Billion |
| Estimated Value by 2031 | $ 26.16 Billion |
| Growth Rate | Poised to grow at a CAGR of 12.3% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Use of advanced technologies to improve tracking of shipping containers |
| Key Market Drivers | Increasing international trade volume |
Dry Storage Containers Projected to Spearhead Revenue Generation Owing to their Versatile Nature
Dry storage shipping containers can be used to transport almost any kind of goods or products, and this high versatility is what allows them to hold a dominant market share. Growing international trade activity and preference for dry containers from multiple industry verticals are all contributing to the dominant market share of this segment.
Rising Prevalence of Chronic Diseases is Allowing Healthcare Industry to Emerge as the Fastest-Growing Industry
High incidence of chronic diseases and rising awareness regarding healthcare has resulted in high demand for pharmaceuticals and other medical products. The need for efficient transportation of all healthcare products is also expected to bolster the demand for shipping containers over the coming years. Refrigerated and specialized shipping containersare projected to witness robust hike in demand through the healthcare industry vertical in the future.
Robust Trade Activity in North America Allows it to be at the Forefront of Global Shipping Container Sales
North America is a global hub for trade and transportation of multiple products and commodities. The presence of a robust marine infrastructure and extensive international trading activity from the United States and Canada are also contributing to the dominance of this region. From pharmaceuticals to packaged food and beverages, North America trades in almost all types of products, which further drives the demand for shipping containers in this region.
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Shipping Container Market Insights:
Drivers
- Growing international trade activity
- Rising trade activity through seaways
- Increasing number of exports and imports around the world
Restraints
- Geopolitical tensions and trade bans
- High costs of specialized and refrigerated shipping containers
Prominent Players in Shipping Container Market
The following are the Top Shipping Container Companies
- 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)
Key Questions Answered in Shipping Container Market Report
- What drives the global Shipping Container market growth?
- Who are the leading Shipping Container providers in the world?
- Which region leads the demand for Shipping Container in the world?
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This report provides the following insights:
- Analysis of key drivers (boom in e-commerce activity, growing international trade), restraints (geopolitical tensions, high costs of custom shipping containers), and opportunities (use of advanced technologies for better container tracking), influencing the growth of shipping container market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Shipping Container market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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