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Global Shipping Containers Market, 2015-2021
Persistence Market Research
Global Shipping Containers Market will
reach US$ 11.47 Bn by 2021: Persistence
Market Research
Persistence Market Research
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Global Shipping Containers Market, 2015-2021
Increasing marine trade, which is a major channel for transport of goods globally, accounts
for the rising demand for cargo vessels and its related equipment such as shipping
containers, says a market study by Persistence Market Research (PMR). The PMR report,
titled “Global Market Study on Shipping Containers: Reefers Segment to Witness Highest
Growth by 2021”, states that the global shipping containers market will expand at a
steadfast 5.60% CAGR from 2015 to 2021. If the projected figure holds true, the market will
reach a valuation of US$11.47 bn by 2021.
The research report by PMR analyzes the shipping containers market in terms of revenue
and volume for the forecast period. The report divides the market on the basis of product
type and geography in order to gauge the growth prospects of the shipping containers
market for the forecast period.
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The research report states that the continual development of the shipping containers market
is largely attributable to the growth in marine trade over the past years. Seaborne trade,
which includes trade carried out on sea routes and inland waterways, such as canals, rivers,
backwaters, and creeks, requires shipping containers that are fabricated for the purpose.
Shipping containers are characterized by their high strength and durability, since they are
fabricated from corrosion-resistant heavy-duty steel and aluminum. These shipping
containers facilitate the transport of goods without the need for loading and unloading of
cargo at intermediate points. The size and type of build of the container is in accordance
with specifications and regulations framed by the International Organization for
Standardization (ISO).
In addition, increasing demand for transportation services also counts as a major factor
responsible for growth of the global shipping containers market. Economic development in
several countries around the world, which has led to increasing number of factories and
manufacturing units, has propelled the demand for increased transportation networks and
services, which has indirectly benefitted the shipping containers market.
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Global Shipping Containers Market, 2015-2021
In several countries, industry bodies and government agencies are involved in formulating
guidelines pertaining to vessels and cargo equipment. This is helping agencies in disparate
locations maintain specified standards for the shipping companies and stipulate quality
requisites for businesses involved in marine trade.
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However, slower economic growth in some parts of the globe, such as in many of the
countries around the Mediterranean, will have an impact on global trade, which will translate
into slow growth of the global shipping containers market in the years to come.
The report identifies some of the major companies involved in the business for shipping
containers and profiles each of the companies for their distinguishing attributes. China
International Marine Containers Co. Ltd., CXIC Group Containers Company Limited, Dong
Fang International Container (Hong Kong) Co. Ltd., TLS Offshore Containers International Pvt.
Ltd., Sea Box Inc., Singamas Container Holdings Limited, Maersk Container Industry AS.,
W&K Container Inc., and YMC Container Solutions are the major companies that have a
significant presence in the global market for shipping containers.
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Market Bytes:
Shipping containers are rectangular steel boxes that are widely used for transportation of
goods and other commodities via both, seaborne and land-based modes of transport,
involving the use of ships, trucks and rail. Moreover, besides facilitating intermodal
transport, use of containers facilitates minimum handling of the goods by eliminating the
need for loading and unloading of the goods at intermediate points during the transit.
Shipping containers are classified into four major types, namely dry containers, reefer
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Global Shipping Containers Market, 2015-2021
containers, tank containers, and others. Dry containers, by far, are the most widely used
shipping containers across the globe.
The global shipping containers market is expected to expand at a steady CAGR of 5.6% over
the forecast period from 2015 to 2021, to reach a market value of US$ 11.47 Bn by 2021.
Drivers and Trends
The increasing containerization of global seaborne trade, i.e. the growing adoption of
shipping containers for transportation of goods, is another factor that is expected to drive
the growth of the global shipping containers market over the forecast period. However,
slower economic growth across certain parts of the globe, such as
Europe and Asia, is likely to affect the global trade, thus translating into a slower growth of
the global shipping containers market during the forecast period.
Market Taxonomy Persistence Market Research, in its report titled “Shipping Containers
Market: Global Industry Analysis and Opportunity Assessment, 2015-2020”, has categorized
the global shipping containers market into key segments based on product types and
geographic regions. Depending on the type of product, the global shipping containers
market is divided into four major segments, namely dry containers, reefer containers, tank
containers, and others. Two of these segments, namely dry containers and reefer containers,
have been sub-segmented on the basis of size into 20’ (20 ft.), 40’ (40 ft.), 40’ high cube (40
ft. High Cube), and into others sub-segments. Finally, on the basis of geographic regions, the
overall shipping containers market is segmented into North America, Europe, Asia Pacific,
the Middle East & Africa, and Latin America.
Analysis, by Region
Amongst the aforementioned region based segments in the global shipping containers
market, Asia Pacific is expected to expand at an accelerated CAGR of nearly 5.4% during the
forecast period. The region is expected to account for a share of nearly 35% of the global
shipping containers market value by the end of 2015. In terms of market value, Europe is
expected to account for a major share of the global shipping containers market value during
the forecast period. It is slated to account for a share of nearly 37% by the end of the
forecast period.
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Global Shipping Containers Market, 2015-2021
Analysis, by Product Type
Amongst the product type based segments of the global shipping containers market, the
reefer containers segment is slated to expand at the fastest CAGR during the forecast
period. The growth of this segment is primarily driven by the increasing preference for reefer
containers over conventional refrigerated ships for transportation of perishable goods. The
use of reefer containers ensures flexibility, efficiency, and reduced turnaround time as
compared to the conventional means of perishables transport. In terms of market value, the
reefer containers segment is expected to expand at a CAGR of 6.3% during the forecast
period. Also, demand for tank containers for transportation of chemicals and other bulk
liquids is expected to witness a steady growth during the forecast period.
About Us:
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated
research, custom research, and consulting services. PMR boasts market research expertise across the
Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages,
Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The
company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data
that precisely corresponds to clients’ business needs.
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Global Shipping Containers Market, 2015-2021
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