Industry Background:
Shipping Container is a container used to withstand shipment, storage, handling and transport of goods from one place to another. This may range from large reusable steel boxes and used for intermodal shipments. The global shipping container market is expected to increase in the forecasted period owing to the rise in global trade and the boost in the demand for containers. The growing seaborne trade and strong demand for shipping container is anticipated in the forecasted period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | China International Marine Containers (Group) Ltd. (China), TLS Offshore Containers International (Singapore), CXIC GROUP (China), A.P. MOLLER - MAERSK GROUP (Denmark), Singamas Container Holdings Limited (Hong Kong), Dong Fang International Asset Management Ltd. (Hong Kong), W&K Containers, Inc. (United States), YMC Container Solutions (United Kingdom), China Shipping Container Lines Co. Ltd. (China), Jindo Co. Ltd. (South Korea), MSC Mediterranean Shipping Company S.A. (Switzerland), CMA CGM Group (France) and Sea Box Inc. (United States) |
According to AMA, the market for Shipping Containers is expected to register a CAGR of 4.3% during the forecast period to 2027. This growth is primarily driven by Increased Globalization Due To Rapid Growth in Economies of Some Developing Countries, Growing Adoption for Highly Efficient and Superior Capacity Shipping Containers and Growing Demand for Cost-Effective Shipping Solution.
Globally, a noticeable market trend is evident Adoption of Remote Container Management (RCM) Solutions Major Manufacturers, such as China International Marine Containers (Group) Ltd. (China), TLS Offshore Containers International (Singapore), CXIC GROUP (China), A.P. MOLLER - MAERSK GROUP (Denmark), Singamas Container Holdings Limited (Hong Kong), Dong Fang International Asset Management Ltd. (Hong Kong), W&K Containers, Inc. (United States), YMC Container Solutions (United Kingdom), China Shipping Container Lines Co. Ltd. (China), Jindo Co. Ltd. (South Korea), MSC Mediterranean Shipping Company S.A. (Switzerland), CMA CGM Group (France) and Sea Box Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The shipping containers market is merged. The leading 3 players hold more than 70% of the market share. The top shipping containers vendors include China International Marine Containers (Group) Ltd (CIMC), Dong Fang International Container (Hong Kong) Co. Ltd, and Maersk Container Industry AS
Key Developments in the Market:
In March 2018, CIMC Container and Siasun Robot & Automation Co. Ltd (Siasun), to cooperate in the field of intelligent manufacturing. Upon finalization of the agreement, the “Flying Dragon Plan” of CIMC Container is expected to get its production lines renovated and upgraded.
Dec 2020: India is moving into manufacturing cargo containers, a segment dominated by China, as part of the Atmanirbhar Bharat initiative. The Ministry of Ports, Shipping, and Waterways formed a committee to examine the feasibility of making containers at Bhavnagar in Gujarat and developing it into a manufacturing hub for the steel boxes that have become the global standard for shipping a variety of goods across ships, rail, and road., , April 2020: Evergreen Marine Corp. ordered 1,800 Star Cool reefers from Maersk Container Industry (MCI) to grow reefer operations., and In March 2018, Carrier Transicold and Singamas Container Holdings Ltd launched PrimeLINE ONE, with a joint initiative, a new refrigerated shipping container. The PrimeLINE ONE container provides the benefits of assembly on-site.
Regulatory Insights:
Container freights are subjected to stringent regulatory guidelines as they carry various types of materials including hazardous one. As per United Kingdom safety convention regulations 2017, it is required to maintain “high level of safety in the transport and handling of containers by providing internationally acceptable test procedures and related strength requirements.” Moreover, Health and Safety Executive of United Kingdom mandates container freight to be approved by governing bodies and must be periodically examined by the competent person and in accordance with arrangements that are approved by HSE.
Influencing Trend:
Adoption of Remote Container Management (RCM) Solutions
Market Growth Drivers:
Increased Globalization Due To Rapid Growth in Economies of Some Developing Countries, Growing Adoption for Highly Efficient and Superior Capacity Shipping Containers and Growing Demand for Cost-Effective Shipping Solution
Challenges:
Tariff or Tax Levied On the Goods and Ongoing & Upcoming Rigorous Environmental & Safety Regulatory Compliances Across Different Regions
Restraints:
Slow Economic Growth in Countries Such As China and Certain European Countries
Opportunities:
Growing Cross Border Activities and Inland Marine Cargo Transport
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Shipping Containers Market
- Analysis about New Entrants in Shipping Containers Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Shipping Containers Study Sheds Light on
The Shipping Containers Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Shipping Containers industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Shipping Containers industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.