According to a new market research report published by Credence Research “Shipping Containers Market (by Size: Small Containers (20 Feet), Large Containers (40 Feet) and High Cube Containers; by Type: Dry Containers., Refrigerated Containers, Tank Containers and Other (Flat Rack Containers, Tunnel Container, Special Purpose Containers, etc.); by Deployment: On-shore Containers and Off-shore Containers- Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the shipping containers market estimated to grow with a CAGR of 6.5% during the forecast period from 2018 to 2026.
Quantity of goods carried by shipping containers witnessed an extravagant grow from 102 Mn metric tons in 1980 to 1.83 Bn metric tons in 2017. The quantity is projected to claim more than 60% of the world seaborne trade and almost 90% of the non-bulk cargo transported across the globe. The number is quite promising and anticipated to proliferate significantly in the coming years. Therefore, the aforementioned number strongly advocate the consistent growth rate of global shipping containers market. With more than 17 Mn containers across globe and more than 6 Mn shipping containers sailing on cargo ships, shipping containers market registered market growth of 6.5% throughout the forecast period.
A number of shipping containers are available for cargo transportation and are classified according to container size, container type, and deployment. Based on size, shipping containers are classified into small container (20 feet), large container (40 feet) and high cub containers. Furthermore, the research study includes market value of shipping container based on their types including dry container, refrigerated container, tank container and other. According to deployment shipping containers are divided into on-shore and off-shore containers. In 2017, Asia Pacific currently holds the majority of market share in global shipping containers market. China manufacturers the majority of shipping containers and also contributes significantly to global maritime trade. Consequently, Asia Pacific is expected to hold its market position throughout the forecast period.
The research analysis covers exhaustive analysis of leading shipping containers vendors including China International Marine Containers (Group) Ltd. (CIMC), Dong Fang International Container (Hong Kong) Co. Ltd., Jindo Co. Ltd., Maersk Container Industry AS, CXIC Group Containers Company Limited, and MSC Mediterranean Shipping Company S.A. All the aforementioned companies face a stiff competition in order to maintain their market position. The different strategies adopted by the companies in order to stay competitive in the market. Besides, some of the other prominent players in shipping container market includes Sea Box Inc., Singamas Container Holdings Limited, Storstac Inc., TLS Offshore Containers International Pvt. Ltd., W&K Containers Inc., and YMC Container Solutions.
Key Analysis Covered:
- Consistently flourishing maritime trade, global demand and growing number of cargo ships positively encouraged the growth of shipping containers market
- Growth of businesses across several sectors and their development complementing the growth of global trade and consequently, shipping containers market
- Different sections of shipping containers and their standing in terms of market value
- Underlining the factors encouraging the demand for different variants of shipping containers
- Role of developing region such as Asia Pacific and their effect on global shipping containers market
The complete report is available at https://www.credenceresearch.com/report/shipping-containers-market