Shipping Containers Market: By Container Type (Dry Containers, Refrigerated Containers (Reefers), Tank Containers, Open-Top Containers, Flat Rack Containers, Others), By Size Of Container (20-Foot Containers (TEU), 40-Foot Containers (FEU), 45-Foot & 53-Foot Containers, Others), By Material (Steel, Aluminum, Composite Materials), By End-Use Industry (Manufacturing, Automotive, Food, Beverages, Retail, Oil & Gas, & Others) And Geography

Shipping Containers Market size was valued at USD 10.22 billion in 2022 and is poised to grow at a significant CAGR of 8.9% from 2023-2029. Shipping containers are strong metal boxes used to transport goods via truck, train, or ship, facilitating intermodal transport. They range in size from ubiquitous corrugated boxes to large steel boxes and serve as storage vessels for merchandise. Specialized containers include high cubes, pallet-wide, open tops, side loaders, double door or tunnel-trainers, and temperature-controlled containers. One of the key drivers in the shipping container market is the growth of international trade and globalization. The increasing global trade volumes and the need for efficient transportation of goods have led to rising demand for shipping containers. As businesses expand their operations and reach new markets, the need for reliable and secure containers to transport goods over long distances becomes crucial. The modular and portable nature of shipping containers makes them a versatile and sustainable choice for construction, leading to their increased adoption. Furthermore, government initiatives and policies promoting international trade and investments, along with infrastructure development projects, drive the demand for shipping containers. These initiatives create a conducive environment for trade and transportation, leading to increased containerization and the growth of the shipping container market. Overall, the drivers in the shipping containers market revolve around the increasing demand for efficient and secure transportation of goods, the growth of e-commerce, the utilization of containers in construction, and supportive government policies that facilitate global trade and infrastructure development.

Shipping Containers Market Key Developments:

• In August 2021, China International Marine Containers and Maersk Container Industry abandoned their merger plan due to significant regulatory challenges. The U.S. Justice Department found that the acquisition would have combined two of the world's four suppliers of refrigerated shipping containers and further concentrated the global cold supply chain, consolidating control of over 90% of insulated container box and refrigerated shipping container production worldwide in Chinese state-owned or state-controlled entities.