Explore how innovative technologies and ecologically responsible practices are changing logistics for a more environmentally friendly and efficient future for shipping containers.

In 2024, the global shipping container market is poised to reach a valuation worth US$ 9,104.2 million. During the forecast period, the demand is anticipated to garner a CAGR of 4.8% and hence reach a sum of US$ 14,549.7 million by the end of 2034.

Port congestion that impedes cargo movement, fuel price fluctuations that affect operating costs, geopolitical tensions that affect trade routes, and the requirement for container management standards are some of the challenges affecting the global shipping container market. To overcome these obstacles and maintain resilient growth in the face of uncertainty, industry collaboration, technical advancements, and adaptable tactics are needed.

The global market is being driven by digitalization, sustainability efforts, and strategic alliances. Companies use technology to increase productivity, adopt green practices to comply with environmental regulations, and establish alliances to access new markets. In addition to addressing industry difficulties, these dynamic elements put organizations in a position to successfully grow operations and maintain their competitiveness in the always changing global marketplace.

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Key Takeaways from the Market Study

In 2019, the global market for shipping containers was estimated to be worth $7,346.3 million.

The market for shipping containers in North America is expected to attain a market share of 25.7% by 2024.

East Asia is expected to account for 42.1% of the global market by 2024.

The US market is projected to reach a valuation of US$ 2,686.6 million in 2024, with a predicted growth rate of 86.5%.

The shipping container market in China is projected to be worth US$ 2,851.7 million in 2024.

According to estimates, the dry containers market share will reach 36.1% in 2024.

“The global market is being driven by factors such as digitization for increased efficiency, sustainability measures to tackle environmental issues, and strategic partnerships for increased capabilities. Together, these factors allow companies to become more competitive and scalable in the dynamic global market,” remarks a Fact.MR analyst.

Key Players:

1. Bertschi AG
2. BNH Gas Tanks
3. Bulkhaul Limited
4. Danteco Industries BV
5. NewPort Tank
6. COSCO SHIPPING Development Co. Ltd.
7. Singamas Container Holdings Limited
8. CXIC Group
9. W&K Containers Inc.
10. Thurston Group Limited

Competitive Landscape

Companies are using partnerships and strategic alliances to increase scalability in the global market. Partnerships with logistics companies, IT integrators, and local partners allow for more efficient operations and greater reach.

Furthermore, by meeting a range of market demands, an emphasis on flexible and adaptive solutions—like modular container designs and advanced logistics technologies—ensures scalability. Businesses position themselves to effectively grow operations and meet the changing requirements of the dynamic global market by embracing collaborative efforts and creative solutions.

Product Portfolio

In 2023, COSCO SHIPPING Development Co., Ltd. launched the project of electric container vessels, with a focus on the positioning of “ecological priority and green development” in the Yangtze River Economic Belt. The construction of two 700TEU electric container vessels of the Company has progressively begun. The project is a crucial step in the company's active implementation of national "carbon peaking and carbon neutrality" strategies. It also demonstrates green and zero-carbon shipping, and it was recognized with the UNDO Global Call 2022 "Green Growth" Award.

One of the world's leading suppliers of tank container services, Newport Tank Containers is well-known for its specialist expertise in bulk liquid transportation. Their unique selling proposition is offering an extensive selection of tank containers for the secure and effective transportation of different liquids, chemicals, and gasses. The company focuses on its dedication to meeting the highest safety standards in the business, creative logistics solutions, and an extensive global network that guarantees the prompt and dependable delivery of bulk liquid cargo.

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More Valuable Insights Available

Fact.MR offers an unbiased analysis of the global shipping container market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.

To understand opportunities in the shipping container market, the market is segmented on the basis of product (dry containers, reefer containers, tank containers, offshore containers) and region (North America, Europe, Latin America, East Asia, South Asia & Oceania, Middle East & Africa).

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