Shipping containers enable hassle-free and smooth unloading/loading and certainty that container will resist extreme climatic conditions and safeguard integrity at the time of transportation. Persistence Market research has walked through these facts and complexities and suggested subsequent courses of action with its latest market study entitled “Shipping Containers Market”.
Shipping Containers Market Dynamics
The global shipping containers market, by type of product, spans dry containers (20 ft., 40 ft., 40 ft. high cube, and likewise) and reefer containers (20 ft., 40 ft., 40 ft. high cube, and likewise). By product, it’s non-standardized containers and ISO containers. By flooring, it’s bamboo, wood, metal, vinyl, and others. By application, it’s food transport, industrial transport, consumer goods transport, and others. Out of these, industrial transport holds the largest market share due to shipping containers being extensively used for transporting raw materials and produced goods like minerals, metals, oil & gases, machinery, chemicals, aircraft parts, automobiles, and likewise.
By flooring, through wood dominates the market as of now, bamboo flooring is expected to take over in the near future due to easy availability, cost-effectiveness, and sustenance. Size-wise, 40 ft. containers account for the maximum revenue. Reefers are popular due to feasibility in using them for transporting temperature—critical goods like seafood, vegetables, meat, fish, pharmaceuticals, fruits, alcoholic beverages, and flowers. Persistence Market Research has entailed these facts with insights in its latest market study entitled “Shipping Containers Market”.
Europe holds a significant market share due to growing maritime trade activities. Switzerland and Russia are the topmost exporting destinations herein. The US and China follow suit. However, the Asia-Pacific is the one witnessing maximum turbulence. The countries like South Korea, India, Japan, and China are subject to robust maritime trade. It’s interesting to note that merchandise trade all across the Asia-Pacific crossed US$ 2.8 trillion by the year 2019. The status quo is expected to remain unchanged even in the forecast period. Persistence Market Research has given a detailed analysis of these facts with probable calls to action in its latest market study entitled “Shipping Containers Market”.
The Competitive Containment
Persistence Market Research has profiled the key players in shipping containers market as China International Marine Containers Co., Ltd., Singamas Container Holdings Limited, CXIC Group Containers Company Limited, Maersk Container Industry, Sea Box, Inc., YMC Container Solutions, TLS Offshore Containers International, OEG Offshore Limited, CARU Containers B>V., IWES Ltd., and likewise.
Persistence Market research has moved further with mentioning about the latest developments on this count. For instance – Transworld Group (Dubai), in March 2021, inked an agreement having value US$ 26.83 Mn with India-based Sagarmala Development Company Ltd. for constructing a cargo container production facility in India’s Gujarat state. Evergreen Marine Corp., in April 2020, did order 1,800 Star Cool reefers from MCI (Maersk Container Industry) for expanding operations of reefers.
On the count of listing out another developments, India, in December 2020, witnessed the Ministry of Ports, Shipping, and Waterways forming a committee for examining conduciveness of manufacturing containers at Bhavnagar (Gujarat) and developing it into a production hub for various steel boxes that have turned out to be global standard to ship loads of goods across road, rail, and ships. Pushpak Logistics, as the very first step over here, did dole out a pilot project by having orders placed for some containers with the producers in Bhavnagar.
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What’s in store for Future?
The global shipping containers market is bound to expand on a substantial note between 2021 and 2031 – Persistence Market Research