Global Modular Container Market Report 2023 to 2032: Increase in Cargo Transportation Through Ships Drives Growth

DUBLIN, June 27, 2023 /PRNewswire/ -- The "Modular Container Market Share, Size, Trends, Industry Analysis Report, By Type (Mobile Modular Containers and Fixed Modular Containers); By Revenue Source; By Usage; By Container Size; By Application; By Region; Segment Forecast, 2023 - 2032" report has been added to  ResearchAndMarkets.com's offering.

The global modular container market size is expected to reach USD 56,658.50 Million by 2032, according to a new study by the publisher. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.

Companies Mentioned

• Falcon Structures
• PODS Enterprises LLC
• WillScot Mobile Mini Holdings Corp.
• Kwikspace
• Truston
• Prefabex
• Prefabricated Modular Steel Structures
• Singamas Container Holdings Ltd.
• CXIX Group Containers Co. Ltd.
• Maersk Container Industry AS
• China International Marine Containers Co. Ltd.

A rapid increase in the need and demand for cargo transportation, with the increasing penetration of automation in marine transportation, are escalating various safety norms are key factors propelling the growth of the global market. In addition, the growing focus on the development of manufacturing facilities of containers by key market players and the extensive rise in the penetration of green building projects, which requires modular containers for a variety of purposes including storage of raw materials and many others are influencing the market growth.

In recent years, manufacturers and suppliers are increasingly focusing on developing energy-efficient modular containers for a variety of end-use industries including education, manufacturing, retail, agriculture, and construction and to minimize or reduce the pollution and emission footprint throughout the period the project.

As a result, the introduction of innovative and advanced modular containers, which can be customized as per need and requirements with cost-effectiveness is growing rapidly and impacting the market growth positively.

Modular Container Market Report Highlights

• Mobile modular containers segment dominated the market with a healthy share in 2021 due to its various beneficial offerings such as ready-to-use offices and easily portable
• Rental segment accounted for the largest global market share in 2022 on account of high penetration for leasing container units instead of selling new ones for revenue generation
• Office container segment is expected to grow at the fastest CAGR during the projected period, which is accelerated by higher advancements and development in prefabricated technology
• 10-20 feet segment held the largest market revenue share on account of its integration in a wide range of applications including locker, office space, and storage
• Construction segment is likely to register the highest market growth with a CAGR over the anticipated period, which is mainly driven by the increased prevalence of modular construction across the globe
• North American region dominated the global market and held the majority of the share in 2022 owing to a rapid increase in investments and government initiatives to support infrastructure developments.
• The global key market players include PODS Enterprises, WillScot Mobile Mini Holding, China International Marine Containers, and Singamas Containers Holdings

Market Dynamics

Drivers and Opportunities

• Increase in cargo transportation through ships
• Growing number of trade agreements supplementing and trend of automation

Restraints and Challenges

• Issues in obtaining the necessary permits to build modular container-based houses

Market Segmentation

by Type 

• Mobile Modular Containers
• Fixed Mobile Containers

by Revenue Source Channel 

• New Product Sales
• Rental

by Usage

• Office Container
• Sanitary Container
• Locker Container
• Showroom Container
• Accommodation Container
• Storage Containers
• Others

by Container Size

• Below 10 Feet
• 10-20 Feet
• 21-40 Feet
• Above 40 Feet

by Application 

• Construction
• Industrial
• Education
• Healthcare
• Automotive
• Others

For more information about this report visit https://www.researchandmarkets.com/r/e4k7gr

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SOURCE Research and Markets