ISO shipping containers, are large shipping containers, made out of various grades of steel, and built for freight transport. These are used in transportation across modes such as road, sea and rail. The ISO shipping containers are manufactured with identical size specification. Such containers are manufactured after the adoption of the ISO specification. The typical sizes of these containers remain 10’, 20’ and 40’ across types such as standard dry containers and refrigerated containers.
Standard Dry Container accounted for the largest market share of more than 45% in 2016, with a market value of, approximately, USD 3,800 Million and is projected to grow at the highest CAGR during the forecast period. Based on applications the market is segmented as food transport, consumer goods transport and industrial transport. Food transport accounted for the largest market share of more than 40% in 2016, with a market value of USD 3,500 Million, approximately and is projected to grow at the highest CAGR of about 6% during the forecast period.
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Global ISO Shipping Container market is expected to grow with the CAGR of approximately 5.60% during the forecast period.
The growth of ISO Shipping Container market is influenced by growing adoption of shipping containers in the seaborne trade, growing demand of commodities, and expanding industrial base in China. Impact on the environment, fluctuation in raw material prices and slower economic growth, hinder the growth of the market.
Sea Box Inc., Hoover Container Solutions Inc., Evergreen Marine Corporation, SINGAMAS, CIMC, CXIC Group, Hapag-Lloyd, Charleston Marine Containers, Inc., Maersk Container Industry A/S, Shanghai Universal Logistics Equipment are the prominent players operating in the global ISO shipping container market.
The global ISO Shipping Container Market has been segmented based on type and application. By type, the market has been segmented into Standard Dry Container, High Cube Dry Container, Refrigerated Container and High Cube Refrigerated Container. By application, the market has been segmented into Food Transport, Consumer Goods Transport and Industrial Transport.
Regionally, the market has been segmented into North America, Europe, Asia pacific, and the Rest of the World. Asia Pacific, led by China, is one of the strongest market for global ISO shipping containers. Rapid industrialization in China along with supportive policies for international trade supports the growth of the market in China.
Europe too is a strong market for ISO shipping containers. Moreover, various regulatory authorities are working towards strengthening export capacity across various industries which fuels the growth of the global ISO shipping container market in Europe.
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