Shipping Container Market to increase by USD 2.4 billion from 2022 to 2027 | Growth of rail intermodal across the globe boosts the market - Technavio

NEW YORK, Oct. 4, 2023 /PRNewswire/ -- The shipping container market size is expected to grow by USD 2.4 billion between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 4.33% during the forecast period. The market is segmented by Type (Dry containers, Reefer containers, Tank containers, and Special containers), Application (Food and beverages, Consumer goods, Healthcare, Industrial products, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). The growth of the rail intermodal across the globe drives the market. Factors such as the growing emphasis on fuel efficiency and environmental sustainability. There is rising adoption of rail intermodal among cargo moves due to various stringent regulations as well, and the fuel efficiency of rail transportation is four times better than other modes of transportation. Some of the primary goods that are transported through European intermodal include minerals, coal, and liquefied petroleum. Furthermore, there is a rising growth of intermodal railway transportation across APAC. Therefore, the growing ail intermodal will increase the demand for containers among different end users such as coal refiners, mining players, consumer goods manufacturers, and cargo players. Hence, such factors are driving the market growth during the forecast period.

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Key Highlights:

• The report recognizes the following as some of the key players in the shipping container market: AP Moller Maersk AS, Arcus Infrastructure Partners LLP, CARU Group BV, China International Marine Containers Group Ltd., COSCO Shipping Co. Ltd., CXIC Group Container Co. Ltd., Dong Fang International Containers, Evergreen Marine Corp. Taiwan Ltd., Hapag Lloyd AG, Hoover Circular Solutions, OEG Offshore UK Ltd., PODS Enterprises LLC, Retveyraaj Cargo Shipping Containers, Sea Box Inc., SHARKCAGE Inc., Singamas Container Holdings Ltd., TLS Offshore Containers, Valisons and Co., W and K Containers Inc., and YMC Container Solutions
• The Shipping Container Market is fragmented in nature.
• Market to observe 4.11% YOY growth in 2023.

Market Dynamics:

Trend

• The growth in the global demand for refrigerated transportation is a primary trend in the market during the forecast period. 
• The growth of the refrigerated transportation segment is fuelled by factors such as the increasing adoption of cold chain solutions due to numerous benefits, including the safe transportation of temperature-sensitive and perishable products. In addition,
• Such kind of transportation fuels operational efficiency, thereby reducing food wastage and improving the shelf life/durability of temperature-sensitive products.
• Furthermore, there is an increasing adoption of reefer containers in refrigeration transportation in order to carry and transport temperature-sensitive and perishable products from different industries, such as food and beverage and pharmaceuticals, to retail outlets and consumers.
• Hence, such factors are positively impacting the market, which in turn will drive the market growth during the forecast period.

Challenges 

• Changing container prices is a major challenge impeding the shipping container market growth. 
• Even though, the increase in the bulk purchase of containers by end-users is fuelled by the lower container prices, it cannot be certain in all cases. The decline in prices of containers can be caused by the oversupply of containers in the market.
• Additionally, the oversupply of containers can lead to a reduction in the container utilization rate of container end-users.
• Therefore, it will lead to a decline in preference for new container purchasing as it significantly impacts the return on investment of the container end-users.
• Hence, such factors negatively impact the market which in turn will hinder the market growth during the forecast period.

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Keg Segments:

The market share growth of the dry containers segment will be significant during the forecast period. There is a growing demand for dry containers segment particularly in China and India as these countries are very involved in the export and import activities of dry freight. In addition, the growing population in China and India has increased the demand for different commodities. Therefore, the growing demand for dry commodities in these countries will significantly contribute to the demand for this segment. Australia, Russia, and Ukraine are some of the major exporters of food grains in the world. As a result, the rising volume of export and import activities in these countries will fuel the demand for the dry container segment which in turn will drive the market growth during the forecast period.

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The intermodal freight transportation market size is estimated to grow at a CAGR of 6.64% between 2022 and 2027. The market size is forecast to increase by USD 56.12 billion.

The Europe - logistics market size is estimated to grow at a CAGR of 3.86% between 2022 and 2027. The market size is forecast to increase by USD 51.35 billion.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio