Key players operating in the market include A.P.
By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. By end use, it is classified into food & beverages, consumer goods, healthcare, industrial products, vehicle transport, and others. By product type, it is divided into dry storage containers, flat rack containers, refrigerated containers, special purpose containers, and others. By container size, the shipping container market is categorized into small containers (20 feet), large containers (40 feet) and high cube containers (40 feet). The global shipping container market is segmented into container size, product type, end use, and region.
However, factors such as anticipated trend of automation in marine transportation and increase in marine safety norms are expected to provideopportunities for the growth of the shipping containers market during the forecast period. Moreover, fluctuations in transportation and inventory costs hamper the growth of the shipping containers market. Now, there are many small companies in China that fabricate the ISO certified containers.įactors such as increase in demand for cargo transportation through ships and rise in trade-related agreements supplement the growth of the shipping containers market. Since 1996, CIMC is the largest manufacturer of ISO containers in the world, and by 2007 China produced 82% of the entire world supply of ISO shipping containers. Till 1995, Taiwan, Hong Kong, Japan, Korea, and most of Europe were producing their shipping containers in Mainland China. Not only was China’s low cost of labor an issue, but was also becoming the largest producer and recycler of steel. The size and type built of each container comply with specifications and regulations formulated by the International Organization for Standardization (ISO).Ĭhina entered into the shipping container manufacturing in 1980 with the formation of CIMC in Shenzhen, China, but only gained its greatest momentum beginning in 1993. They are generally made up of aluminum and steel. The containers are a means to bundle cargo and goods into large unitized loads, easily handled, moved, and stacked, and can be tightly packed in a ship or yard - similar to cardboard boxes and pallets. These containers range from large reusable steel boxes used for intermodal shipments to the ubiquitous corrugated boxes. The global shipping containers market was valued at $8.70 billion in 2019, and is projected to reach $12.08 billion by 2027, registering a CAGR of 4.3% for the forecast period 2020-2027.Ī shipping container is a container with strength suitable to withstand shipment, storage, and handling. Shipping Container Market Statistics – 2027
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