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Shipping Container Market to Reach $12.08 Billion by 2026: Allied Market Research

Increase in demand for cargo transportation through ships and increase in trade-related agreements have propelled the growth of the global shipping containers market.

Portland, OR, May 13, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global shipping containers market accounting for $8.70 billion in 2018 and is projected to garner $12.08 billion by 2026, growing at a CAGR of 4.3% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

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The rise in demand for cargo transportation through ships and an increase in trade-related agreements have boosted the growth of the global shipping containers market. However, fluctuations in transportation and inventory costs hamper the market. On the contrary, the anticipated trend of the automation in marine transportation, and the rise in marine safety norms would create opportunities for the market players in the coming years.

The global shipping containers market is divided on the basis of container size, product type, end-use, and region. Based on container size, the market is segmented into small containers (20 feet), large containers (40 feet), and high cube containers (40 feet). The small container segment held the largest share in 2019, accounting for nearly one-third of the market. However, the large container segment is projected to register the highest CAGR of 4.8% during the forecast period.

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Based on product type, the market is categorized into dry storage containers, flat rack containers, refrigerated containers, special-purpose containers, and others. The dry storage containers segment dominated the market in 2018, accounting for more than one-fourth of the market. In addition, the segment is projected to register the highest CAGR of 5.3% during the forecast period.

The global shipping containers market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific held more than one-third of the market and is expected to dominate the market throughout 2027. At the same time, the segment is anticipated to manifest the fastest CAGR of 5.5% from 2020 to 2027.

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The global shipping containers market report includes an in-depth analysis of the major market players such as CARU containers, China International Marine Containers, A.P. Moller–Maersk Group, COSCO SHIPPING Development Co., Ltd, OEG Offshore limited, Singamas Container Holdings Limited, TLS Offshore Containers International, W&K Containers, Inc., CXIC Group,  YMC Container Solutions, and others.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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