The global shipping containers market accounted for US$10.35 billion in terms of value and 306,324 units in 2019 and is expected to grow at a compounded annual growth rate (CAGR) of 5.9% for the period 2020-2027.
The finding is revealed in a new research study entitled “Shipping Containers Market 2022 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities) by Coherent Market Insight (CMI).
The report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, the impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.
Shipping containers are a great asset for the transport of materials, products, and commodities. These containers can be constructed of steel, fiberglass or other metal, and have been used for transportation of household goods, construction equipment, cars, trucks, petroleum products, and even watercraft, and are the mainstay of the industry.
Standard shipping containers come in two basic varieties, the double-walled or single-walled ones, and the stacked variety.
CMI said the increasing adoption of specialized shipping containers in the aerospace sector is expected to propel the growth of the global shipping container market over the forecast period. The aerospace sector uses specialized shipping containers to transport parts of space telescopes.
For instance, in October 2020, NASA reported that James Webb Space Telescope is scheduled to move forward into the last full extension of its iconic primary mirror and sun shield followed by a full systems evaluation before being encapsulated in a specialized shipping container for transport to South America.
Moreover, the emergence of Covid-19 is also expected to aid in the growth of the global shipping container market. For instance, in July 2020, Singamas Container Holdings Limited delivered a mobile Polymerase Chain Reaction laboratory for Covid-19 testing to the Shanghai Pudong Airport.
The mobile laboratory can handle a maximum of 1,500 specimens a day. It consists of three functional rooms including the reagent preparation room, specimen processing room, and PCR test room.
The major market players are:
• China International Marine Containers Co. Ltd;
• Sea Box Inc;
• Singamas Container Holdings Ltd;
• China Cosco Shipping Co. Ltd;
• TLS Offshore Containers International;
• CXIC Group Containers Co Ltd;
• W&K Container Inc;
• Maersk Container Industry;
• YMC CONTAINER SOLUTIONS (a division of Thurston Group Ltd); and
• Dong Fang International Container (Hong Kong) Co. Ltd.
CMI noted that the shipping containers market estimations were derived through thorough research and assumptions based on existing drivers and trends.
“Therefore, the research study works as a clearinghouse for analysis and data on all aspects of the market, including applications, SWOT analysis, future potential, new developments, and more,” it said.
Additionally, CMI also analysed several potential growth factors and dangers so as to have a strong handle on the total industry.
