Shipping Containers Market Size - By Size (Small Containers, Large Containers, High Cube Containers), By Container (Dry Storage, Flat Rack, Refrigerated, Special Purpose), By Customer, By End-User Industry & Forecast, 2024 - 2032

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.
 

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.
 

Shipping Containers Market Trends

The shipping container industry is propelled by the rising trend towards eco-friendly solutions and specialized containers. Growing environmental consciousness fuels the demand for containers made from sustainable materials, reducing carbon footprints. Simultaneously, industries' need for specialized containers, such as reefers for perishable goods or flat racks for oversized cargo, reflects evolving logistics demands. These dual trends drive innovation and cater to the diverse needs of a dynamic global shipping industry.
 

For instance, in April 2023, AELER introduced its latest sustainable smart container, Unit One, the first of its kind made from composite materials. This innovative design boasts increased strength, insulation, and intelligence. With this enhancement, Unit One's capacity equals that of eight AELER containers, compared to the typical requirement of 10 regular containers.
 

Shipping Containers Market Analysis

Based on size, the market is divided into small containers, large containers, high cube containers and others. The large containers segment accounted for a market share of around 50% in 2023 and is set to cross over USD 6.5 billion by 2032. These containers are essential for transporting vast quantities of goods worldwide, from consumer products to industrial equipment. Their standardized dimensions facilitate efficient handling and transfer between ships, trains, and trucks, making them vital in the logistics industry. With their widespread use and practicality, large containers dominate the market as the preferred choice for diverse cargo needs.
 

Based on end-user industry, the shipping containers market is categorized into food & beverages, consumer goods, healthcare, industrial products, oil & gas, chemicals, and others. The industrial products segment held over 32% of the market share in 2023. owing to the demand for transporting machinery, equipment, and raw materials. The shipping containers, designed for durability and security, are crucial for industries worldwide. From automotive parts to heavy machinery, they ensure safe transit across oceans and continents. With global manufacturing on the rise, the industrial products segment remains the cornerstone of container shipping, facilitating the movement of essential goods that fuel economies.
 

Asia Pacific shipping containers market recorded around 49% of the revenue share in 2023, driven by robust economic growth and strategic geographical advantages. Booming trade routes and pivotal manufacturing centers have contributed to the region's prominence. With extensive port infrastructure and efficient logistics networks, Asia Pacific has become a vital contributor to global shipping. Its dominance underscores the significant role it plays as a key contributor to the efficient movement of goods worldwide.
 

Shipping Containers Market Share

China International Marine Containers Co. Ltd and Triton International Limited held significant market share of around 30% revenue share in 2023. China International Marine Containers Co. Ltd invests heavily in research and development to innovate container designs, materials, and technologies, including lightweight materials, smart containers, and eco-friendly solutions, to enhance efficiency, sustainability, and customer value.
 

Triton International Limited invests heavily in digital technologies and data analytics to improve fleet management, optimize container utilization, and enhance operational efficiency. Digital transformation initiatives enable real-time tracking, monitoring, and predictive maintenance of container assets.
 

Shipping Containers Market Companies

Major companies operating in the shipping containers industry are:

• Almar Container Group
• CARU Containers BV
• China International Marine Containers Co. Ltd
• China Shipping Container Lines
• Evergreen Marine Corporation
• Ritveyraaj Cargo Shipping Containers
• Sea Box Inc
• Singamas Container Holdings Limited
• Triton International Limited
• W&K Container Inc.
   

Shipping Containers Industry News

• In February 2024, Africa introduced its inaugural green reefer, marking a milestone in sustainable refrigerated transportation. AxlePower technology, a result of BPW and Thermo King's collaboration, enhances the continent's efforts towards a greener industry.
   
• In July 2022, Monoflo International unveiled a new 48” x 40” collapsible bulk container catering to food processing and distribution needs. This durable, high-pressure injection molded container boasts smooth surfaces for strength and ease of use.
   

The shipping containers market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and Volume (TEUs) from 2018 to 2032, for the following segments:

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Market, By Size

• Small containers (20 feet)
• Large containers (40 feet)
• High cube containers
• Others

Market, By Container

• Dry storage
• Flat rack
• Refrigerated
• Special purpose
• Others

Market, By Customer

• Freight forwarders
• Shipping lines
• Logistics companies
• Retailers
• Manufacturers

Market, By End-User Industry

• Food & beverages
• Consumer goods
• Healthcare
• Industrial products
• Oil & gas
• Chemicals
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Nordics
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ANZ
  • Southeast Asia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • South Africa
  • UAE
  • Saudi Arabia
  • Rest of MEA