Shipping Containers Global Market Report 2024

The shipping containers market size has grown strongly in recent years. It will grow from $10.81 billion in 2023 to $11.62 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The expansion during the historical period can be attributed to the rise of multinational corporations, port infrastructure development, industrialization, and container standardization, economic growth, and market integration, as well as advancements in intermodal transportation.

The shipping containers market size is expected to see strong growth in the next few years. It will grow to $15.53 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The anticipated growth in the forecast period can be attributed to cultural and artistic use, the hospitality and tourism sector, pop-up retail and events, disaster relief and emergency housing, as well as logistics and warehousing solutions. Key trends expected in the forecast period involve modular construction, sustainable building materials, addressing urbanization and housing needs, pop-up retail and events, disaster relief and emergency housing, and a focus on customization and design aesthetics.

The shipping containers market is projected to grow due to the increased demand for cargo transportation through ships. The efficiency and security of waterway cargo transportation contribute to the rising demand for this mode of transportation. Eurostat reported a 6.5% increase in the volume of European road freight between 2020 and 2021, underlining the growing preference for water-based transportation. This trend is expected to positively impact the shipping containers market.

The shipping containers market is expected to experience growth due to the rise in e-commerce. E-commerce, involving buying and selling goods and services online, relies on shipping containers for efficient global transportation and delivery of goods. According to the International Trade Administration in September 2022, consumer e-commerce constituted 30% of the UK's overall retail sector, with an annual revenue exceeding $120 billion. The increasing prevalence of online purchases and the growth of the e-commerce industry contribute significantly to the expansion of the shipping containers market.

The shipping container market faces a potential growth constraint due to the high costs associated with shipping containers. The price of containers depends on size and condition, with larger and newer units commanding higher prices. For example, in the USA, a used container averages around $2,000, while larger units suitable for housing can range from $3,000 to $6,000. Additional costs, such as shipping container home plans and foundation expenses, contribute to making them less affordable for purchase, potentially limiting market growth.

Key players in the shipping containers market are directing their focus towards developing cloud-based technologies to optimize tracking, inventory management, and logistics operations. Meratus, an Indonesia-based shipping company, exemplifies this trend with the launch of the SMARCO-Smart Container in March 2023. This cloud-based solution incorporates advanced IoT sensors, GPS tracking, and cloud technologies, offering businesses full visibility and control over shipping containers, thereby enhancing efficiency and safety.

In April 2021, Arcus Infrastructure Partners, LLP, a UK-based company, completed the acquisition of Gem Containers Limited for an undisclosed amount. This strategic move allows Arcus to broaden its container product portfolio, expand its customer base, and extend its product reach into Europe. Gem Containers Limited, a UK-based metal company specializing in the manufacturing and distribution of tank containers, is now under Arcus's umbrella.

Major companies operating in the shipping containers market report are A.P. Moller–Maersk Group, China International Marine Containers (Group) Co. Ltd. (CIMC), COSCO SHIPPING Development Co. Ltd., Triton International Limited, CXIC Group Containers Company Limited, Container Corporation of India Limited, Textainer Group Holdings Limited, Shanghai Universal Logistics Equipment Co. Ltd., Maersk Container Industry A/S, THIELMANN Group, OEG Offshore Limited, Sea Box Inc., Hoover Container Solutions, Florens Container Services B.V., Cronos Containers Ltd., BSL Containers Ltd., CARU Containers B.V., Charleston Marine Containers Inc., Klinge Corporation, UES International Pty Ltd., TLS Offshore Containers International Pvt Ltd., SCHüTZ Container Systems Inc., Pacific Tycoon Limited, W&K Containers Inc., American Intermodal Container Manufacturing Inc. (AICM), Storstac Inc., TRS Containers, Rava Group Containers, Skelton Container Services Ltd., Global Container Solutions Ltd.

Asia-Pacific was the largest region in the shipping containers market in 2023. The regions covered in the shipping containers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the shipping containers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The shipping containers market, covered in the report, is segmented by product type into dry storage containers, flat rack containers, refrigerated containers, special-purpose containers, open-top containers, double-door containers, and others. Container sizes include small containers, large containers, high cube containers, and end-uses encompass food and beverages, consumer goods, healthcare, industrial products, vehicle transport, and others.

The shipping containers market research report is one of a series of new reports that provides shipping containers market statistics, including shipping containers industry global market size, regional shares, competitors with a shipping containers market share, detailed shipping containers market segments, market trends and opportunities, and any further data you may need to thrive in the shipping containers industry. This shipping container market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The shipping container market consists of sales of tunnel containers, open-side storage containers, general-purpose containers, insulated containers, half-height containers, and swap body containers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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