According to MarkNtel Advisors study the Global Shipping Container Market size is valued at around USD 10.5 billion in 2023 and it is estimated to grow at a CAGR of about 4.2% during the forecast period, i.e., 2024-30.

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Key Findings of the Study: Shipping Container market

Global Shipping Container Market Driver

Technology Advancement is Driving Shipping Container Market Growth – The global shift towards automation & the demonstration of autonomous ships has fostered collaboration among nations in the development of self-piloting vessels for both passenger & cargo transport. Due to this freight, companies are developing and launching new technologies to cater to this new age demand in the market. This collective effort is driving advancements in the shipping industry, propelling it toward growth. For instance:

• In 2022, Japanese freight company Mitsui Lines launched fully automated container ships to help keep freight moving in the future with technology.

Consequently, with the introduction of automation in the shipping industry, the utilization of shipping containers is anticipated to expand, driven by enhanced safety protocols. Hence, this, in turn, is expected to foster global growth in the Shipping Container Market.

Global Shipping Container Market Challenge

Cost Dynamics to Impact the Global Shipping Container Industry – Transportation of the goods requires a suitable and stable transportation means, owing to the expenses associated with both transporting the goods and maintaining inventory. Cost considerations represent a pivotal factor that exerts impact on the entire spectrum of logistics services, spanning from the initial stages of procurement to the ultimate delivery of products.

Nonetheless, the shipping industry has faced considerable challenges stemming from the instability & variability in transportation and inventory costs, which are influenced by a multitude of political & economic factors on a global scale. These external forces have prompted customers to explore alternative methods of goods transportation. Thus, exerting pressure on the worldwide Shipping Container Market's growth trajectory.

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Scope of the Report and Shipping Container Market Segmentation:

By Product

• ISO Container- Market Size & Forecast 2019-2030, (Thousand Units)
• Non Standardized Container- Market Size & Forecast 2019-2030, (Thousand Units)

By Type

• Dry Container - Market Size & Forecast 2019-2030, (Thousand Units)
• Reefer Container - Market Size & Forecast 2019-2030, (Thousand Units)
• Tank Container- Market Size & Forecast 2019-2030, (Thousand Units)

By Size

• 20 feet- Market Size & Forecast 2019-2030, (Thousand Units)
• 40 feet - Market Size & Forecast 2019-2030, (Thousand Units)
• High Cube Containers- Market Size & Forecast 2019-2030, (Thousand Units)

By Application

• Food & Beverages- Market Size & Forecast 2019-2030, (Thousand Units)
• Consumer Goods - Market Size & Forecast 2019-2030, (Thousand Units)
• Healthcare- Market Size & Forecast 2019-2030, (Thousand Units)
• Industrial Product- Market Size & Forecast 2019-2030, (Thousand Units)
• Vehicle Transport- Market Size & Forecast 2019-2030, (Thousand Units)
• Others- Market Size & Forecast 2019-2030, (Thousand Units)

Consumer Goods typically exhibit the highest demand and capture the potential share of the Shipping Container Market.

Shipping Container Market Development:

• 2022: A.P. Moller – Maersk launched launched a new ocean shipping service, ‘Shaheen Express’. The service would rotate between Mundra, Pipavav, Jebel Ali, Dammam, and Jebel Ali and back to Mundra, creating a stable and reliable service for the India-UAE-Saudi Arabia corridor.

Geographical Analysis:

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Dry Container has the maximum demand in the Shipping Container Market. 

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