Shipping Container Market is Anticipated to Grow at a CAGR of 8.51% During the Period 2018-2022: Radiant Insights, Inc.

SAN FRANCISCO, November 6, 2018 /PRNewswire/ --

Global Shipping Container Market is expected to grow at a significant CAGR of 8.51% during the period 2018-2022 as the scope and its applications are rising enormously across the globe. Shipping Container is termed as a standardized re-sealable transportation box with strength suitable to withstand handling, shipment, and storage. These containers are made using materials like fiber reinforced polymer, steel, aluminum, and others or combination of all. It stores several kinds of products that need to be shipped from one point to another across world.

Rise in economy, growth in seaborne trade, high demand from department of defense, growing demand for superior capacity and highly efficient shipping containers, and increasing trend of using remote container management (RCM) solutions are documented as major factors of Shipping Container Market that are estimated to enhance the growth in the years to come. Shipping Container Market is segmented based on types, size, end users, and region. Tank containers, dry storage containers, open top container refrigerated containers, flat rack container, tunnel container, insulated or thermal containers, and other types could be explored in Shipping Container in the forecast period. Dry storage containers sector may account for the substantial market share of Shipping Container and is estimated to lead the overall market in the coming years.

There are various sizes in Shipping Container such as high cube containers, small containers (20 feet), and large containers (40 feet) that could be explored in the forecast period. Small containers (20 feet) sector may grow at highest CAGR in the future. In addition, large containers (40 feet) sector may account for the significant market share of Shipping Container and is estimated to continue its dominance in the coming years. The market may be categorized based on end users like cargo or shippers movers, container lessors, container fleet management companies, and others that could be explored in the forecast period. Shipping Container Market is segmented geographically into Americas (North America, South America, and Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific (India, China, Japan, New Zealand, and Australia), Latin America (Mexico, Argentina, and Brazil), Middle East (UAE, Saudi, and Qatar) and Africa (South Africa).

Globally, Europe may account for the substantial market share of Shipping Container and is estimated to lead the overall market in the coming years. Instead, Asia Pacific is also estimated to have a positive influence on the future growth. It is the second largest region with significant market share. However, the region is estimated to grow at fastest pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise modernization of infrastructure and developing construction & infrastructure sites. The key players of Shipping Container Market are Singamas Container Holdings, China International Marine Containers (CIMC), Maersk Container Industry, W&K Container Inc., CXIC Group Containers Company Limited, Sea Box Inc., Dong Fang International Container, and Dong Fang International Container. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.

Access 104 page research report with TOC on "Shipping Container Market" available with Radiant Insights, Inc. @ https://www.radiantinsights.com/research/global-shipping-container-market-2018-2022

The report covers the present scenario and the growth prospects of the global shipping container market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:  

• Americas
• APAC
• EMEA

Global Shipping Container Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors  

• China International Marine Containers (CIMC)
• CXIC
• Dong Fang International Container
• Maersk Container Industry
• Singamas Container Holdings

Market driver  

• Growing global container traffic
• For a full, detailed list, view our report

Market challenge  

• Volatility in steel prices
• For a full, detailed list, view our report

Market trend  

• Expected decline in dominance of China in global shipping container market
• For a full, detailed list, view our report

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SOURCE Radiant Insights, Inc.