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SHIPPING CONTAINERS MARKET ANALYSIS

A shipping container is a container with a capacity to sustain shipment, storage, and handling.

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SHIPPING CONTAINERS MARKET ANALYSIS

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. SHIPPING CONTAINERS MARKET ANALYSIS Shipping Containers Market, By Product Type(Dry Containers (20’ (20 ft.), 40’ (40 ft.), 40’ High Cube and Others), Reefer Containers (20’ (20 ft.), 40’ (40 ft.), 40’ High Cube, Others), Tank Containers and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  3. Market Definition • A shipping container is a container with a capacity to sustain shipment, storage, and handling. Shipping containers facilitate transport and carriage of goods without requiring to unload or reload at intermediate points. These containers can be transported via rail, ships, or trucks. Therefore, intermodal transport of goods has become more efficient. The shipping containers have enhanced the ease of handling cargo. Furthermore, it resulted in removing conventional loading unloading of cargo directly on the ship, thus saving valuable time and resources. • The global Shipping Containers Market was accounted for US$ 103,50.1 Mn in terms of value and 306, 324 Thousand Units in 2019 and is expected to grow at CAGR of 5.9% for the period 2020-2027.

  4. Market Dynamics- Drivers Increasing seaborne trade is expected to drive growth of the global shipping containers market during the forecast period • Seat transport has increased significantly over the last five decades. This is typically due to the fact that seaborne transport is less expensive and more efficient than other modes of transport. According to Coherent Market Insights’ analysis, seaborne trade accounts for over 90% of global overseas trade. Furthermore, according to the same source, global seaborne trade increase by 3.8% in 2013 and is expected to grow by 4.1% by 2015. Currently, the Panama Canal is undergoing expansion to permit passage of large ships (over 10,000 TEU capacity). This expansion has been supplemented by significant investment in container terminals across the globe. Hence, these factors are expected to drive growth of the global shipping containers market in the near future. Rising containerization is expected to propel the global shipping containers market growth over the forecast period • Increasing speed, reliability, and safety of containerization have compelled companies to opt for containers to ship their goods. Decreasing the cost of long-distance containerized transportation combined with globalization of trade further boosts containerization. According to Coherent Market Insights’ analysis, growth in container transport is estimated to increase significantly by 2015 end. Hence, these factors are expected to propel the global shipping containers market growth over the forecast period.

  5. Statistics: • Europe held dominant position in the global Shipping Containers market in 2019, accounting for 37.1% share in terms of value, followed by Asia Pacific and North America respectively

  6. Figure 1: Global Shipping Containers Market Share (%) in terms of Value, By Region, 2019

  7. Shipping Containers Market - Impact of Coronavirus (Covid-19) Pandemic • Many governments around the globe such as India, Spain and Italy have imposed nationwide lockdown to prevent the spread of COVID-19 disease. For instance, India have imposed lockdown from 25 March to 1 May until the further notice. Lockdown resulted in the shortage of the workers at the ports. Due to the manpower shortage the ports are struggling to move the cargoes. Moreover, there is also shortage of transportation facilities such as Trucks and Trains. Owing to above mentioned factors, the COVID-19 pandemic is expected to restrain the market growth during the year 2020

  8. Market Dynamics- Restraints Consolidation of the global market is expected to hinder the global shipping containers market growth over the forecast period • The shipping container market is characterized by the presence of few but major manufacturers of containers. According to Coherent Market Insights’ analysis, as of 2014, the top three players in the market account for nearly 85% share. However, this consolidation is adversely effecting other players in the shipping container market. Hence, these factors are expected to hinder the global shipping containers market growth over the forecast period. Economic slowdown worldwide is expected to hamper the global shipping containers market growth during the forecast period • Global trade has witnessed slowdown since 2015 due to downturn in some major global companies in Europe, in spite of decreasing fuel prices. According to Coherent Market Insights’ analysis, in 2014, container imports in China increased by around 1.6% as compared to that in the previous year. This atypical flow of imports is due to economic slowdown in China, making it a relatively closed economy. Therefore, these factors are expected to hamper the global shipping containers market growth in the near future.

  9. Market Opportunities Rising preference for 40-foot HC containers can present major business opportunities • End users in the market are increasingly preferring containers 40 feet high cube containers as compared to 40’ conventional containers. This is primarily due to the fact that 40 feet high cube containers provide around 12% more carrying capacity than 40 feet conventional containers and thus, are suitable for transportation of high volume cargo. Growing demand for reefer containers can provide significant growth opportunities • There is a massive demand for perishable goods across the globe. Major perishable goods exporters such as Mexico, Canada, and New Zealand are focusing on increasing the variety of vegetables and fruits exported. According to Coherent Market Insights’ analysis, in 2013, seaborne perishable trade accounted for 98 Mn tons, with an annual growth rate of 3.2%.

  10. Figure 2: Global Shipping Containers Market Value (US$ Mn), 2016 - 2027

  11. Market Trends Low emissions and energy consumption • Governments across the world are focused on implementation of regulatory policies, in order to curb CO2 emissions. This, in turn, is influencing shipment container manufacturers, especially those of reefer containers to adopt eco-friendly refrigerants in order to reduce CO2 emissions. Furthermore, they are also focused on developing advanced systems that use management software to minutely controlling the temperature of goods during shipping. For instance, the European Union (EU)’s new F-gas Regulation, which came into effect from 1 January 2015, focuses on reducing fluorinated greenhouse gases (F-gases) emissions by two-thirds by 2030 as compared to 2014 levels. Implementation of GPS tracking system • According to the World Shipping Council, in 2013, 5,578 shipping containers were lost. Implementation of GPS system in containers enables real-time tracking and monitoring and thus, ensures enhanced asset visibility.

  12. Competitive Section • Major companies involved in the global shipping containers market 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. Key Developments • Key players involved in the market are focused on mergers and acquisitions, in order to enhance the market presence. For instance, in May 2019, China Cosco Shipping Co. Ltd, a China-based shipping corporation, acquired give units of Singamas Container Holdings Ltd. • Major market players are involved in orders, contracts, and agreements, in order to gain a competitive edge in the market. For instance, in May 2019, Maersk Container Industry received an order from ZIM Integrated Shipping Services for 500 Star Cool Integrated Reefers.

  13. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now Reference: https://www.coherentmarketinsights.com/market-insight/shipping-containers-market-3877

  14. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  15. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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