The value of the Container Shipping market is projected to grow to USD 9,700 billion with an estimated CAGR of 4.3% by 2030
Containers are generally created of aluminum and steel. Individual size and type of container comply with specifications and regulation formulated by the International Organization for Standardization (ISO).
Shipping containers holds a wide variety of types. The most essential type of container shipping market trends is dry cargo. Dry cargo containers are often called as a special containers as it include open end, half- , open side, open top, refrigerated, modular, flat rack, liquid bulk. These containers are created with a standardized exterior lengths and widths.
However, open top containers are specifically used for easy loading of cargo such as machineries, and odd sized goods. Flat racks are used for machineries, vehicles, industrial equipment, and boats. Furthermore, open side containers are used for transporting vegetable such as potatoes, onions and more other. Tank containers are used to transport liquids such as oil, wine, chemicals, and petrol.
Each containers has its own unique unit number, which is basically known as box number. Box numbers are used by ship captains, customs officers, crew members, dock supervisors, and warehouse managers to recognize the owner of a container and exactly who is using it to ship goods, and to track the containers location across the world.
Discussing the geographical outlook, North America influences the global container shipping market to improve transportation services in this region. The U.S. efficiently represents the largest market for container shipping followed by Canada in North America. In Europe, Germany, The U.K. Spain, Italy, and France hold the major share of the container shipping market. Asia is anticipated to witness high growth rates in the next five years, as many key players are manufacturing facilities in this region. The increasing number of manufacturing units would result in significant rise in demand for containers. Improving transportation services are boosting growth of the container shipping market in this region. Japan, China, and India are expected to be the fastest-growing container shipping market in Asia.
Growing demand for transportation services is believed to be a major driver of the global container shipping market 2018. Increasing number of manufacturing units and factories fueled the growth of the global container shipping market. In addition, several government associations are also uplifting growth of the global container shipping market by providing specific guidelines to shipping companies for better results.
Geographically, the global container shipping market 2018 is widely driven in North America, U.S., Canada, Europe, France, Germany, Italy, Spain, U.K., Easter Europe, CIS, APAC, China, India, Japan, Australia, Latin America, Argentina, Brazil, and more others.
Leading players of the global container shipping market include HANJIN, China Ocean Shipping Company, HAPAG-LLOYD, Mediterranean Shipping Company, MAERSK, and China Shipping Container Lines.
Container Shipping Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||USD 9,700 billion|
|Growth Rate||CAGR of 4.3 % during 2020-2030|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Hapag-Lloyd, Maersk Container Industry A/S, CIMC, SINGAMAS, Hoover Container Solutions Inc., Shanghai Universal Logistics Equipment, Charleston Marine Containers, Inc., Evergreen Marine Corporation, Sea Box Inc., CXIC Group|
Key geographies evaluated in this report are:
- North America
- France, Germany, Italy, Spain, and the UK
- Eastern Europe
- Latin America