Shipping Containers market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2019 to 2024 are profiled in this report.
The global Shipping Containers market is projected to grow at the rate of 5.2% during the forecast period 2018 to 2023.
The Shipping Containers market is highly competitive and consists of a number of major players. Top Companies like TLS Offshore Containers International Pvt Ltd, China International Marine Containers (Group) Ltd (CIMC), Maersk Container Industry AS, W&K Containers Inc., Singamas Container Holdings Limited, YMC Container Solutions, Sea Box Inc., Dong Fang International Container (Hong Kong) Co. Ltd / Oriental International, CXIC (Changzhou Xinhuachang International Containers Co. Ltd) Group Containers Company Limited, Storstac Inc.,
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Scope of the Report
Owing to the factors, such as growing sea-borne trade, and the increasing trend of containerization of goods, a strong demand for shipping containers is anticipated in the forecast period. As of 2016, the share of the containerized goods in the total freight, in billion metric ton miles, stands at 15.7%.
Key Market Trends
Growth of Seaborne Trade is Expected to Drive the Shipping Containers Market
The containerized transport of goods, by sea, accounts for almost 60% of the total sea-borne trade in the world (in terms of value), and this represents the high usage of containers in the sea freight transportation. Hence, the growth in the sea-borne trade is one of the significant factors that drive the shipping containers market.
Additionally, the growing number of container ships, and their capacity, also propels the demand for new containers. The global fleet of larger-sized vessels (i.e. greater than 8000 TEUs) grew by a substantial 4%, in terms of TEU capacity. Moreover, the global container fleet capacity grew by 1%, while the demand grew by 5%, which is nearly twice as much as in 2016.
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Refrigerated Containers – to witness high growth
The sea-borne trade, through reefers, registered an increase of 5% in 2017, compared to the previous year, with a total of 124 million metric ton being transported. However, the average growth rate per year, during the last ten years, stands at 3.6%. The growth rate of the reefer traffic in 2017 is estimated at around 8%. The growth in the reefer traffic is faster than that of the overall containers trade, and this trend is expected to remain strong during the forecast period. The demand for the perishable goods is growing across the world, with the rise in the middle-class population and the income levels. This demand, along with the growth in the containerized trade, is driving the growth of the reefer containers market.
Additionally, the shift of the temperature-controlled cargo, from specialized vessels to reefer containers, offers the flexibility of transshipment, without loading and unloading during multimodal transportation. This is also expected to boost the market for the refrigerated containers in the forecast period. The specialized sector has a share of 20% in the total reefer trade through sea. However, this share is expected to fall to 14% by 2022, due to the shift to the container mode.
China – Market Leader
China dominates the global container production, as well as, the container trade. The total production output of the metal containers in China stood at 103.48 million cubic meter, in 2017. The production in 2018 (between January and April) reached 36.354 million cubic meter, growing by 25%. China accounts for more than 90% of the worlds container manufacturing, with an advantage of low labor cost.
The country stands at top of the container trade as a net exporter, and is followed by the United States. Additionally, China is the world leader, in terms of the container throughput in the sea ports. Shanghai port is the top container port in the world, with its throughput growing by 8.4% in 2017, reaching 40 million TEUs. As the largest exporter, the country plays an important role in the trade between Asia and other countries. Most of the TEUs shipped are east bound, from Asia to North America (among the four container trade routes).
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Shipping Containers Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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