Home > Automotive > Automotive Logistics > Freight Logistics > Shipping Containers Market
Shipping Containers Market Size
- Report ID: GMI8872
- Published Date: Apr 2024
- Report Format: PDF
Shipping Containers Market Size
Shipping Containers Market size was valued at USD 10.2 billion in 2023 and is estimated to register a CAGR of over 3.5% between 2024 and 2032. The growth of the market is fueled by technological advancements and intermodal connectivity. Innovations such as IoT, AI, and blockchain enhance container management efficiency, while intermodal connectivity with rail and truck transportation streamlines logistics. These advancements increase the market size by improving container tracking, optimizing routes, and enabling seamless transfer between different modes of transport, catering to the evolving needs of global trade.
For instance, in August 2023, Evergreen inaugurated Taiwan's premier fully automated container terminal, the largest of its kind, with remote-controlled gantry cranes. Developed with Taiwan International Ports Corporation (TIPC), it aligns with industry trends and operational needs for mega container ships.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Shipping Containers Market Size in 2023: | USD 10.2 Billion |
| Forecast Period: | 2024-2032 |
| Forecast Period 2024-2032 CAGR: | 3.5% |
| 032 Value Projection: | USD 14.2 Billion |
| Historical Data for: | 2021-2023 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 300 |
| Segments covered: | Size, Container, Customer, End-User Industry |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
The shipping container market is experiencing growth due to the increasing volume of international trade and the rising adoption of containers with dual-temperature capabilities. As global trade expands, there is a greater need for containers that can transport a variety of goods, including perishable items. Containers with dual-temperature capabilities cater to this demand, allowing for the transportation of temperature-sensitive goods, which, in turn, drives market growth in response to evolving logistics needs.
For instance, in February 2024, ONE introduced the world's inaugural dual-temperature refrigerated container featuring controlled atmosphere (CA) capabilities. This innovative trial marks a milestone in container technology for Ocean Network Express (ONE).
Though the shipping container market shows robust growth, it faces challenges such as trade barriers like tariffs, disputes, and occasional economic downturns. However, these serve as catalysts for innovation, prompting the development of more efficient logistics solutions. Companies are adapting by diversifying their routes and exploring new markets. By navigating these challenges with strategic planning and flexibility, businesses are finding opportunities for growth and expansion in the global trade landscape.
Frequently Asked Questions (FAQ) :
Shipping Containers Market Scope
