Global Modular (Shipping) Container Market Size/Share Estimated to Reach USD 56,658.50 Million By 2032, at 7.4% CAGR Growth: Polaris Market Research

NEW YORK, Jan. 19, 2023 /PRNewswire/ --  A latest research report [115+] pages with 360-Degree visibility, titled "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" published by Polaris Market Research in its research repository.

According to the research report, the global modular (shipping) container market size & share was valued at USD 27,903.05 Million in 2022and is expected to reach USD 56,658.50 Million by 2032, growing at a CAGR of 7.4% during the forecast period.

What is Modular (Shipping) Containers? How Big is Modular (Shipping) Container Market Size & Share?

• Overview

Modular containers are prefabricated steel structures used at workplaces, hospitals, laboratories, schools, worker camps on construction sites, and overnight lodgings. The rapid rise in the modular container market can be attributed to quick and easy installation, environment friendly, and cost-effectiveness. Consumers can customize containers by adding windows and doors of the required style and off-grid electricity generation.

The market is forecast to gain from the rising demand from various end users to decrease the cost of construction. Manufacturers globally are concentrating on producing sustainable modular containers with energy efficiency certifications. As these certifications need less pollution and emission footprint during the project lifecycle, the focus on sustainability will continue increasing. This has resulted in producing user-friendly, eco-friendly, and low-emission sustainable materials for modular containers.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Key Companies in the Global Market Are:

• Falcon Structures
• PODS Enterprises
• WillScot Mobile Mini Holdings.
• 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

To know an additional revised list of top market players, request a sample report, 2023-2032: https://www.polarismarketresearch.com/industry-analysis/modular-container-market/request-for-sample

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.

Growth Driving Factors

• Durability and resistance to harsh weather conditions to push the market

The modular containers are durable and can resist harsh weather conditions. The modular container market size is expanding as a significant rise in industrial and commercial development is expected to escalate the number of people moving into metropolitan regions. The rapid urbanization in cities such as New York, Vancouver, and Mexico City has led to the extensive usage of housing and storage purposes, which is expected to propel the market's growth in the near future.

Modular container market sales are soaring due to manufacturers buckling down into developing energy-efficient modular containers for several industries such as government, construction, retail, manufacturing, education, and agriculture. For instance, Karmod Prefabricated Technologies, a prefab container manufacturer in Turkey, has highlighted green energy container houses manufactured utilizing the new generation container model. These green energy homes are an essential solution for countries encountering power outages.

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Recent developments

• In September 2022, Container xChange declared the initiation of its contemporary product, container control, to solve issues related to non-vessel-owning common carriers and freight forwarders in real time from pick-up to drop-off. With the launch, the customers will be proficient in matching all available containers to shippers and can add all release references to platforms.

Segmental Analysis

• The mobile modular containers segment dominated the market

Based on type, the mobile modular containers segment dominated the market. Modular container market demand is rising as it has several advanced and beneficial features, including high durability, easy movability, and quick congregation on site. Mobile modular containers offer a broad gamut of compelling utilities such as ready-to-use offices, portable for storage purposes, building construction, and commercial application in offices which drive the higher adoption of these containers globally.

• The rental segment accounted for the most significant global market share

Based on revenue source, the rental segment accounted for the most significant global market share and is likely to retain its position over the forecast period due to the high focus of market companies to lease their units for generating revenue rather than selling new products. Modular container market trends include key market players providing modular containers on rental and lease along with several other services, including delivery, installation, and maintenance, such as WillScot Mobile Mini and McGrath RentCorp.

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What is the market scope & trends of Modular (Shipping) Container Market?

Geographic Overview

• High investment in the development of infrastructure to drive the North American market

North America held the largest modular container market share due to high investment in developing infrastructure and industries and increased consumer spending capacities on innovative facilities in countries such as the US and Canada. Additionally, an increasing number of government initiatives and growing financial expenditure linked with construction projects are further anticipated to influence the market positively in the near future.

Asia Pacific is expected to emerge as the fastest-growing region throughout the forecast period because of the rapid increase in the usage of modular containers in construction activities and the high implementation of green building infrastructure projects. Additionally, the growing preference for intermodal transportation owing to the introduction of technological advancements such as computerized vehicle routing, active traffic management, and freight exchange is boosting market growth.

Browse the Detail Report "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" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/modular-container-market       

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Polaris Market Research has segmented the modular container market report based on type, revenue source, usage, container size, application, and region:

By Type Outlook

• Mobile Modular Containers
• Fixed Modular Containers

By Revenue Source Outlook

• New Product Sales
• Rental

By Usage Outlook

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

By Container Size Outlook

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

By Application Outlook

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

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research