ISO Tank Containers Market: By Container Type (Multi-Compartment Container, Lined Container, Reefer Container, Cryogenic & Gas Container, Swap Body Container, Dry Container, Open Top Container, Flat Rack Container, Others), By Transport Mode (Road, Rail, Marine), By End-User Industry (Chemicals, Petrochemicals, Food & Beverage, Pharmaceuticals, Industrial Gas, Information Technology, Others) and Geography

ISO Tank Containers Market was valued at USD 245.7 million in 2022 and is poised to grow at a CAGR of 5.3% over 2023-2029. An intermodal container, also called an ISO tank container, is a large standardized container designed and built for intermodals freight transport meaning can be utilized for different modes of transport ranging from ship to rail to truck without unloading and reloading. Intermodal containers’ primary purpose is to store and transport and is made up of rust-retardant Corten steel making it durable for long travel. These are most commonly used in the chemical and petrochemical industries, and the growing petrochemical industry is expected to propel the growth of the ISO tank containers market in the forecast years. Recently, Gas Exports throughout the world is driving the ISO container market. For instance, according to statistics, Qatar exports about 114.1 billion cubic meters of liquefied natural gas (LNG) throughout the world. The recent ongoing cutthroat competition between countries to politically dominate the Eastern and Western countries has led to register lucrative growth opportunities due to the growing demand for better, safer, and more efficient containers during water and air transport for long hauls. The increased demand for packaged food and beverage products is currently in trend booming the e-commerce industry, which is also increasing reliance on ISO tank containers. But after the COVID-19 pandemic, the manufacturer experienced a disruption in the market, also the infrastructure development, equipment, certification, and inspection associated with ISO tank containers require a high initial investment hindering the market growth. However, the market is seeing an increased demand across healthcare, e-commerce, chemicals, petrochemicals, and IT sector creating an urgency for demand in the market is expected to increase in the forecast years.

ISO Tank Container Market Key Developments:

• In November 2022, Qunatix, a portfolio company of Wind Point Partners and North America’s leading supply chain services company announced its acquisition of G&W Tanks.
• In October 2022, KKR, a leading global investment firm announced the acquisition of Boasso Global, Inc., a premier provider of depot, maintenance, cleaning, and transportation services for the ISO tank container industry in North America.