Shipping Containers Market By Size (Small (20 Feet), High (40 Feet), High Cube), By Type (Dry Container, Refrigerated Container, Tank Container, Others), By Deployment (On-shore Container, Off-shore Container) - Growth, Future Prospects, And Competitive Analysis, 2018 - 2026

Industry Outlook

Cargo shipping, also known as maritime transportation of goods, has played an important role in shaping the modern world. Prior to aviation, the only way to connect and trade between continents was to transport goods across vast seas and oceans. The shipping industry has experienced consistent growth since its inception and has reached its pinnacle in recent years. Consistently growing global trade through ships has certainly encouraged the need for shipping containers across the globe. Shipping containers are secure and provide a medium to carry a variety of cargo with ease. Owing to its significance in the shipping industry, the demand for shipping containers is expected to stay healthy throughout the forecast period.

Market Synopsis

In terms of market value, large containers have a clear dominance over small and high-cube containers.

Based on the size, shipping containers are classified into small containers with a length of 20 feet, large containers with a length of 40 feet, and high-cube containers. In the shipping container market, large shipping containers claim a considerable market share of about 2/3 of the total number of shipping containers across the globe. These shipping containers have a considerably high storage capacity, so they are preferred by the majority of shipping companies. Small containers trail large containers in terms of market value as well as volume. These containers are as reliable as the large variants and are available for a lower price. However, the lack of storage capacity has dragged down the growth potential of small containers. High-cube containers are special containers with added height to accommodate more cargo. High-cube containers are a special type of container used for very specific applications, such as the shipping of cars and other such cargo.

In the coming year, the dry container will maintain its dominance over other container types.

By far, in 2017, dry containers claimed the majority of the market share in the overall shipping container market. These are the most commonly available shipping containers and are used to transport a number of building materials through the sea, rails, roads, and any other transportation medium. These are simply corrugated steel containers and can be customized in a number of ways to suit cargo requirements. Refrigerated containers are used to transport food, vegetables, and flora over a longer distance. With perpetually growing world trade and lowering transportation times, refrigerated containers are gaining momentum in terms of market share.

Due to China, Asia Pacific reigns supreme in the global shipping container market.

Unarguably, China manufactures the majority of shipping containers used across the globe. China’s share in the global market is more than 90%, and it also hosts the world’s busiest port, Shanghai, in terms of twenty-foot equivalent units (TEU) in 2017. Owing to the aforementioned factors, Asia-Pacific reigns as the most lucrative region among others in the shipping container market. Other regions, including Europe and North America, are expected to contribute little in the coming years as these regions are unable to match the lower labor rates in the Asia Pacific.

Market Segmentation

Competitive Landscape     

The research study covers some of the leading shipping container companies, including Maersk Container Industry AS, TLS Offshore Containers International Pvt. Ltd., China International Marine Containers (Group) Ltd. (CIMC), W&K Containers Inc., Singamas Container Holdings Limited, YMC Container Solutions, Sea Box Inc., Dong Fang International Container (Hong Kong) Co. Ltd., CXIC Group Containers Company Limited, Storstac Inc., Jindo Co. Ltd., and MSC Mediterranean Shipping Company S.A. The shipping container market is quite fragmented with respect to several Asia-Pacific companies asserting their dominance.

The market is expected to remain saturated, with very few new entrants projected to enter the mainstream. However, the consistently growing demand for shipping containers will keep container manufacturers on their toes. These companies have to overcome some issues, such as fluctuating material costs and the availability of affordable labor, in order to maintain their profit share and market position.

Key questions are answered in this report.

• How have exponential world trade and globalization helped the shipping container market flourish?
• How does the expansion of end-use industries and global marketplaces affect the shipping container market?
• What are the different types of shipping containers based on their size, type, and deployment, and what is their standing in terms of market value?
• How vital is the growth of the maritime transportation and shipping industry, and what is its effect on the sales of shipping containers?
• In the coming years, what role will Asia-Pacific play as the global leader in the shipping container market? 

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