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| Shipping Containers Market |
The global Shipping Containers Market is estimated to be valued at US$ 12572.95 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Shipping containers are robust reusable steel boxes used for intermodal freight
transport via ship, rail, and truck. They are crucial for international trade as
they allow for efficient transportation of goods. Standardized dimensions of
containers allow them to be transferred seamlessly between different modes of
transportation.
Market key trends:
One of the major trends in the shipping containers market is the adoption of
refrigerated containers. Refrigerated containers help transport temperature
sensitive goods such as perishable foods, pharmaceuticals, and chemicals safely
over long distances. They maintain temperatures between -30°C to 30°C through
built-in refrigeration units powered by generators or cold storage media like
gel packs. The growth of perishable food trade and pharmaceutical exports from
developing countries is driving demand for refrigerated containers.
Segment Analysis
The global shipping containers market is dominated by the dry containers
segment. Dry containers accounted for over 70% share of the overall market in
2022. Dry containers are used to transport general cargo such as consumer
goods, automobile parts, and machinery worldwide. Their high demand can be
attributed to the ability to carry a wide range of goods and offer protection
during shipment. Reefer containers are the second largest segment. Reefer
containers are insulated containers equipped with temperature-controlled systems
to transport perishable goods like fruits, vegetables, meat, seafood, dairy
products, and pharmaceuticals where preserving the desired temperature level is
critical. Their market share is expected to increase owing to the rising
transportation of perishable foods globally.
Key Takeaways
The global Shipping
Containers Market Growth size is expected to witness high growth,
exhibiting a CAGR of 6.1% over the
forecast period, due to increasing international trade and expanding
transportation industry. Shipping containers have become an integral part of
the global supply chain and trade due to cost and time-efficiency.
Regional analysis - Asia Pacific dominates the global market and is expected to
maintain its lead. China is the largest manufacturer and consumer of shipping
containers worldwide. Other emerging countries in Southeast Asia such as
Vietnam and Indonesia are witnessing rapid growth in seaborne trade and
industrial activities.
Key players - Key players operating in the shipping containers market are China
International Marine Containers Co., Ltd., Sea Box, Inc., Singamas Container
Holdings Limited, China Cosco Shipping Co. Ltd., TLS Offshore Containers
International, CXIC Group Containers Company Limited, W&K Container Inc.,
Maersk Container Industry, YMC Container Solutions (a division of Thurston
Group Limited), and Dong Fang International Container (Hong Kong) Co., Ltd.
Read More,
https://www.insightprobing.com/shipping-containers-market-trends-size-and-share-analysis/
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