Global Shipping Container Market to Reach US$ 16.4 Billion by 2028, Facilitated by Significant Growth in E-Commerce Sector

June 15, 2023 | Transportation and Logistics

According to the latest report by IMARC Group, titled “Shipping Container Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global shipping container market size reached US$ 10.3 Billion in 2022. A shipping container is a large, standardized metal container designed for transporting and storing goods. It can be easily transferred between different modes of transportation, such as ships, trucks, and trains, without the need to unload or repackage the contents. It allows secure transportation and protection of goods during transit. It has sturdy walls, floors, and doors, which can be sealed to prevent unauthorized access and protect the contents from damage and theft.

Global Shipping Container Market Trends:

There is an increase in the reliance on online websites for buying essential daily goods and luxury items on account of the rising awareness among individuals about the benefits of ordering products through online portals, which offer easy availability, convenience, and a wide catalog. This, coupled with significant growth in the e-commerce sector, represents one of the major factors driving the demand for shipping containers around the world. Moreover, the growing number of global and domestic trade activities and the increasing demand for cargo transportation through ships is influencing the market positively. In addition, the rising adoption of automation at cargo terminals and the implementation of stringent safety norms in marine transportation is favoring the growth of the market. Apart from this, the emerging trend of imported premium vehicles is catalyzing the demand for shipping containers worldwide. Looking forward, the market value is projected to reach US$ 16.4 Billion by 2028, expanding at a CAGR of 8.02% during 2023-2028.

Market Summary:

Based on the product, the market has been segmented into dry storage containers, flat rack containers, refrigerated containers, special purpose containers, and others. Presently, dry storage containers hold the largest market share.
On the basis of the container size, the market has been segregated into small containers (20 feet), large containers (40 feet), high cube containers, and others. Large containers (40 feet) currently account for the biggest share of the market.
Based on the application, the market has been divided into food and beverages, consumer goods, healthcare, industrial products, vehicle transport, and others. At present, industrial products dominate the market.
Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being A.P. Moller - Maersk, CARU Containers B.V., China Eastern Containers, COSCO SHIPPING Lines Co. Ltd. (China COSCO Shipping Corporation Limited), CXIC Group Containers Company Limited, OEG Offshore Limited, Ritveyraaj Cargo Shipping Containers, SEA BOX Inc., Singamas Container Holdings Limited, TLS Offshore Containers International, W&K Containers Inc., and YMC Container Solutions (Thurston Group Limited).

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Product, Container Size, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	A.P. Moller - Maersk, CARU Containers B.V., China Eastern Containers, COSCO SHIPPING Lines Co. Ltd. (China COSCO Shipping Corporation Limited), CXIC Group Containers Company Limited, OEG Offshore Limited, Ritveyraaj Cargo Shipping Containers, SEA BOX Inc., Singamas Container Holdings Limited, TLS Offshore Containers International, W&K Containers Inc. and YMC Container Solutions (Thurston Group Limited)
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Global Shipping Container Market to Reach US$ 16.4 Billion by 2028, Facilitated by Significant Growth in E-Commerce Sector

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