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Shipping Container Market Outlook from 2024 to 2034

The shipping container market is estimated to be around USD 7,747.5 million in 2024. The industry is likely to surpass USD 10,661.5 million by 2034. In the same period, the industry is slated to exhibit a CAGR of 3.6% through 2034. The ongoing maritime shipping activities largely influence the industry in the general trades.

The global shipping container market is experiencing a prompt shift due to maritime shipping activities and trade agreements. Such containers are manufactured according to ISO specifications, ensuring efficient loading and unloading processes, environmental durability, and structural integrity during transportation.

A shipping container is a sturdy, reusable box used for intermodal shipments or corrugated boxes for shipping goods. These containers are designed to bundle cargo into large, unitized loads, making them easy to handle, move, and stack. The containers are typically made of aluminum and steel and comply with the International Organization for Standardization (ISO) specifications and regulations.

Multimodal transportation is more effective when items are transported by land and sea using sturdy, effective shipping containers. Because shipping containers are inexpensive, practical, and convenient for storing big quantities of cargo, shipping container rentals are becoming more and more popular across a range of businesses.

Suppliers are making demand for corrugated boxes and reusable steel containers for intermodal shipping; these materials can be utilized as such. Built from steel and aluminum, they adhere to the specifications and rules established by the International Organization for Standardization. For easier handling, stacking, and transportation, they are utilized to combine freight and items into unitized loads.

The shipping container industry is foreseen to boost due to demand for cargo transportation and trade-related agreements. However, fluctuations in transportation and inventory costs may hinder its growth.

However, the anticipated trend of automation in marine transportation and increased marine safety norms could provide possibilities for market growth during the forecast period.

Shipping trends are evolving rapidly, with minimalist containers and recyclable mailers being popular alternatives. Different trends include size reduction, QR codes for engagement, and customer interaction. As international supply chains expand, technology development accelerates, leading to the introduction of more complex products in various industries.

Attributes Description
Estimated Global Shipping Container Market Size (2024E) USD 7,747.5 million
Projected Global Shipping Container Market Value (2034F) USD 10,661.5 million
Value-based CAGR (2024 to 2034) 3.6%

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Key Industry Highlights

Cargo Transportation to Pave the Way for the Industry

Transportation of commodities via water bodies has become more and more common. This can be explained by the fact that ships successfully deliver several cargoes to their destination while maintaining the cargo's security.

Furthermore, because cargo ships can move significantly more goods than other forms of transportation, they are less expensive for moving items as compared to air and road transportation.

Recent improvements in commercial boats and major operators' creation of better and more efficient cargo ships are likely to propel up demand for ship-borne cargo transportation.

The most recent technology, such as cutting-edge sensors and navigational systems, are anticipated to be installed on these ships. In the end, maritime cargo operations contributed to the expansion of the shipping container sector.

E-Commerce Shipping Operations Boost the Development

The proliferation of digital marketplaces and online shopping has resulted in a notable surge in the number of items transported internationally through marine shipping operations, affording customers access to an extensive overseas product assortment.

Shipping containers play an integral role in the efficient and economical delivery of goods from producers to distribution hubs and end users for e-commerce businesses.

The need for logistics services, transportation infrastructure, and containers is increasing due to the growth of the e-commerce sector. The shipping container industry is benefiting from companies' investments in containerization and transportation solutions to suit the increased need for dependable, quick shipping services in the digital era.

High Costs and Stringent Regulations to Impede the Development

Transnational political and economic factors affecting transportation and inventory costs are causing issues for the shipping sector, leading consumers to investigate alternative delivery methods and impacting the global growth trajectory of the shipping container industry.

The shipping container market's growth in transportation and material inventory prices has been hindered by continuous fluctuations in inventory storage and transportation methods.

Geopolitical tensions and trade disputes between nations also hamper the global shipping container business. These factors impair international trade and impose limits on the movement of commodities, which in turn affects consumer demand for shipping containers.

2019 to 2023 Global Shipping Container Sales Outlook Compared to Demand Forecast from 2024 to 2034

The demand for shipping containers is anticipated to value at USD 7,485.5 million in 2023. Shipping corporations can tackle space issues by purchasing new ships and investing in both new and used boats for fleet expansion, addressing competition threats and sector issues. The shipping container industry was foreseen to be valued at USD 6,863.6 million in 2019.

The industry in the period between 2019 to 2023 exhibited a CAGR of 2.5%. Trade barriers brought forth by the global pandemic in China resulted in a drop in the beginning of 2020.

Shipping container demand was impacted, which in turn reduced exports of consumer products. However, it is anticipated that advancements in vaccinations would increase consumer demand, which might favor the shipping container sector in the near run.

As global ports streamline operations and acquire a competitive edge by 2034, AI-based container tracking is becoming more and more common in the shipping industry. Port authorities to monitor and find containers are integrating AI-powered tracking systems.

One example of such technical progress is the partnership between Gorilla Technology and British Telecom at the Port of Tyne in the United Kingdom occurred in July 2023, which enables damage detection and container identification. The need for shipping containers is predicted to rise along with the global marine sector.

Shipping operations across the globe are developing with the integration of IoT devices, smart sensors, and QR codes for the tracking of shipments. Such developments are augmenting the demand for technical improvements in the supply chain market in the forthcoming decade.

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Ismail Sutaria

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Comparative Market Overview

The ongoing trends and opportunities of the shipping supply industry and the insulated shipping boxes industry have been discussed below. These industries showcase similar dynamics in comparison to the shipping container industry.

As the demand for nautical shipping operations has augmented, all the studied industries are developing at a prompt pace. The market players are anticipated to take benefit of approaching possibilities offered by all sectors.

Insulated Shipping Boxes Industry Assessment:

The insulated shipping boxes market is anticipated to develop at a steady pace in the upcoming decade. The rise of food delivery services has revolutionized consumer behavior, with insulated shipping boxes playing a crucial role in ensuring the quality, safety, and freshness of perishable goods.

These boxes extend shelf life, reduce food wastage, and enable flexible delivery models, allowing consumers to access fresh and frozen foods in remote areas.

Attributes Description
Related Industry Insulated Shipping Boxes Industry
CAGR (2023 to 2033) 8.5%
Growth Factor Demand for transportation of frozen items
Opportunities Manufacturers can develop containers with advanced technologies, such as temperature control
Trend Rising need for products like seafood, meat, dairy, and produce

Shipping Supply Industry Assessment:

Shipping supplies, including transport packaging materials like envelopes, bubble wrap, and containers, are witnessing rapid surge in demand. Sustainable packaging trends are gaining traction, with suppliers reorienting supply chains to use eco-friendly materials. The pandemic has reshaped the packaging materials industry, focusing on medicine and vaccine supplies.

Attributes Description
Related Industry Shipping Supply Industry
CAGR (2024 to 2034) 3.7%
Growth Factor Need for cargo ship and airplane transportation
Opportunities Shipping companies can stay competitive by collaborating with raw material suppliers and fulfillment centres to stay ahead
Trend Strengthening of logistics packaging trends

Country-wise Insights

This section discusses the region-wise analysis of the shipping containers industry. It can be inferred that Asian countries like India, South Korea, and Thailand have a strong foothold in this industry. Western countries like the United States and the United Kingdom also have a significant presence primarily due to well-established logistics networks.

Countries CAGR 2024 to 2034
India 3.7%
Thailand 3.7%
South Korea 3.6%
United Kingdom 3.1%
United States 3.4%

Indian Shipping Container Industry to Benefit from Its Shifts towards Containerization

India is one of the most lucrative countries when it comes to the shipping container industry. The Indian industry is very likely to showcase a CAGR of 3.7% through 2034. India, in the past few decades, has been experiencing rapid infrastructure development, including ports, railways, and highways.

These developments require a comprehensive supply of raw materials from other countries which is mostly done through the oceanic trade routes. Businesses in India are also emphasizing modernizing the logistics and supply chain management where the adoption of shipping containers is considered very crucial.

Revival of Manufacturing to Boost the United States Shipping Container Industry

The United States shipping container industry also showcases a promising future in the next ten years. It is slated to report a CAGR of 3.4% through 2034. There has been a resurgence in manufacturing activities in the United States due to reshoring, automation, and advancements in technology.

There has also been an increase in domestic production in the past few years. This has led to a corresponding increase in the need for shipping containers to transport raw materials, components, and finished goods within the country and for export.

The United Kingdom to Exhibit Decent Growth Rate in the Shipping Container Industry

The United Kingdom shipping container industry is estimated to report a CAGR of 3.1% for the forecast period of 2024 to 2034. The eCommerce boom in the United Kingdom has positively affected various sectors, including the shipping container industry.

This expansion has led to increased demand for shipping containers to support the movement of goods purchased online. There is also an observed need for efficient logistics and transportation solutions for warehousing, distribution, and fulfillment. This has generated an excellent demand for shipping containers in the United Kingdom.

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Category-wise Insights

The shipping container industry is mainly categorized on the basis of container type, size, and end-use. The top two categories are discussed below in brief.

Dry Freight Container to Garner Admiration from Industries

Shipping containers come in various types, such as dry freight containers, refrigerated containers, open-top containers, flat rack containers, tank containers, double-door containers, and half-height containers. Among these, the dry freight containers segment hold an industry share of 21% in 2024.

Segment Dry Freight Container (Container Type)
Value Share (2024) 21%

The demand for fry freight containers across industries has touched the skies in the last few years due to their incredible versatility. They are suitable for transporting a wide range of goods, from electronics to textiles to food products.

These containers also offer a relatively affordable means of shipping goods compared to other transport methods, such as air freight or specialized shipping containers.

Sales of Medium-sized Shipping Containers in the International Marketplace Skyrocket

Shipping containers come in various shapes and sizes. The most common among them are these three size ranges: less than 20 feet, 20 to 40 feet, and more than 40 feet. As of 2024, the 20 to 40 feet shipping containers hold the largest industry share of 35%.

Segment 20 to 40 feet (Size)
Value Share (2024) 35%

As global trade continues to expand, it has been observed that the sales of medium-sized shipping containers have skyrocketed. The clamor for these containers is soaring as they offer a balance between capacity and flexibility, which makes them suitable for a wide range of cargo types and shipping routes. Besides this, the rise of e-commerce has led to a surge in demand for shipping containers to facilitate the movement of goods ordered online.

Competition Outlook

Despite the 3.6% CAGR through 2034, the shipping container industry, globally, is filled with a multitude of companies, all vying for international dominance. These companies have a vast market reach and a very well-established network of suppliers, customers, and partners.

The large-scale operations and extensive networks of these companies have helped them invest in advanced manufacturing technologies to improve the overall efficiency of these containers.

Some of the most prominent companies in the industry are Maersk Container Industry, China International Marine Containers (CIMC), Singamas Container Holdings, Textainer Group Holdings Limited.

Industry Updates

  • In May 2024, South Korean tonnage provider Cido Shipping secured new buildings for four mid-sized box ships with MSC Mediterranean Shipping Company, a Hong Kong-based shipowner, on a long-term bareboat charter with the world's largest liner operator.
  • In May 2024, BAL Container Line is planning to order four large container ships and new buildings worth USD 600m in China, with a letter of intent signed with Jiangnan Shipyard for two 14,000-teu vessels and the potential for two more. This move is part of several liner companies planning to order new ships.
  • In March 2024, APM Terminals' West Africa Container Terminal (WACT) officially commissioned its new Container Freight Station (CFS) at Onne Port, Rivers State, marking a significant milestone.

Leading Shipping Container Brands

  • Maersk Container Industry
  • China International Marine Containers (CIMC)
  • Singamas Container Holdings
  • Textainer Group Holdings Limited
  • Triton International Limited
  • Seaco Global Limited
  • Florens Container Services
  • CXIC Group Containers Company Limited
  • Dong Fang International Container (Hong Kong) Co., Ltd.
  • SeaCube Container Leasing Ltd.
  • Blue Sky Intermodal
  • Raffles Lease Pte Ltd
  • CARU Containers
  • CAI International Inc.
  • BSL Containers Ltd.
  • W&K Containers, Inc.
  • Conex Depot
  • Storstac Inc.
  • ContainerWorld Forwarding Services Inc.
  • LCL Logistix

Key Segments of Market Report

By Container Type:

The market is segmented by container types, such as dry freight containers, refrigerated containers, open top container, flat rack container, tank container, double door container, and half-height container.

By Size:

In terms of the size of shipping containers, the industry is trifurcated as up to 20 feet, 21 to 40 feet, and above 40 feet.

By End Use:

According to end use, the sector is segmented into automotive, pharmaceutical, chemical, food, logistics, and transportation.

By Region:

As per region, the industry is divided into North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa.

Frequently Asked Questions

What is the overall global valuation for this industry?

The global valuation is USD 7,747.5 million as of 2024.

What does the future of this industry look like?

The market is expected to reach USD 10,661.5 million by 2034.

What is the growth of this industry in terms of CAGR?

The market is growing at a CAGR of 3.6% from 2024 to 2034.

Who are the prominent leaders?

Maersk Container Industry, China International Marine Containers (CIMC), and Textainer Group Holdings Limited.

What was the Cargo Shipping Market Value in 2023?

In 2023, the global market was valued at USD 7,485.5 million.

Table of Content

1. Executive Summary

2. Industry Introduction, including Taxonomy and Market Definition

3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments

4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections

5. Pricing Analysis

6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034

    6.1. Container Size

    6.2. Container Type

    6.3. End-User

7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Container Size

    7.1. Small Container

    7.2. Large Container

    7.3. High Cube Container

8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Container Type

    8.1. Dry Storage Container

    8.2. Refrigerated Container

    8.3. Tank Container

9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-User

    9.1. Food and Beverages

    9.2. Consumer Goods

    9.3. Healthcare

    9.4. Industrial Products

    9.5. Vehicle Transport

    9.6. Others

10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region

    10.1. North America

    10.2. Latin America

    10.3. Western Europe

    10.4. South Asia

    10.5. East Asia

    10.6. Eastern Europe

    10.7. Middle East & Africa

11. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

12. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

13. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

14. South Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

15. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

16. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

17. Middle East & Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries

18. Sales Forecast 2024 to 2034 by Container Size, Container Type, and End-User for 30 Countries

19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard

20. Company Profile

    20.1. TLS Offshore Containers International Pvt. Ltd

    20.2. China International Marine Containers Co. Ltd

    20.3. Maersk Container Industry AS

    20.4. W&K Container Inc.

    20.5. Singamas Container Holdings Limited

    20.6. YMC Container Solutions

    20.7. Sea Box Inc

    20.8. Dong Fang International Container (Hong Kong) Co. Ltd

    20.9. CXIC (Changzhou Xinhuachang Int'l Containers) Co. Ltd

    20.10. Storstac Inc.

    20.11. China Eastern Containers



Shipping Supply Market

Published : January 2024


Insulated Shipping Boxes Market

Published : August 2023


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Published : June 2022


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