Overview

A shipping container is a container with strength suitable enough to withstand shipment, handling, and storage. These containers can be transported via rail, ships, or trucks. Therefore, the 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 focuses on five regions namely North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.

The global Shipping Containers market was valued at US$ 103,50.1Mn in 2019 and is forecast to reach a value of US$ 16,183.3 Mn by 2027 at a CAGR of 5.9% between 2020 and 2027.

Market Opportunity

Declining oil prices can provide major growth opportunities for market players in the near future

Oil prices have declined significantly in the recent past. Since oil prices influence a large part of operating cost in intermodal transportation. Reducing oil prices free-up a major part of the capital for shipping companies and hence, they prefer to invest this amount to acquire more shipping containers. Therefore, these factors offer lucrative opportunities for market players.

Key Developments

Major market players are involved in orders, contracts, and agreements, in order to gain a competitive edge in the market. For instance, in April 2020, Maersk Container Industry received an order from Evergreen for 1,800 Star Cool reefers.

Segmentation

Market Taxonomy:

By Product Type
Dry Containers
20’ (20 ft.)
40’ (40 ft.)
40’ High Cube
Others
Reefer Containers
20’ (20 ft.)
40’ (40 ft.)
40’ High Cube
Others
Tank Containers
Others
By Region
North America
Europe
Asia Pacific
Middle East & Africa
Latin America