- Toll Free: +1-800-792-5285
- (UK): +44-845-528-1300
- Int'l: +1-503-894-6022
- Help@alliedmarketresearch.com
Cart
|
AU_172168
|
Pages: 160
|
Apr 2017 | 9715 Views
|
|
|
|
Author's :
Ankit Singh Pundir
|
Tables: 43
|
Charts: 35
|
Formats*: |
|
Global Shipping Containers Market was valued at $8,705 million in 2015, and is expected to reach $12,083 million by 2023, growing at a CAGR of 4.5% from 2017 to 2023. A shipping container is a container with strength suitable to withstand shipment, storage, and handling. These containers range from large reusable steel boxes used for intermodal shipments to the ubiquitous corrugated boxes. The containers are a means to bundle cargo and goods into large unitized loads, easily handled, moved, and stacked, and can be tightly packed in a ship or yard-similar to cardboard boxes and pallets. They are generally made up of aluminum and steel. The size and type built of each container comply with specifications and regulations formulated by the International Organization for Standardization (ISO).
China entered into the shipping container manufacturing in 1980 with the formation of CIMC in Shenzhen, China, but only gained its greatest momentum beginning in 1993. Not only was Chinas low cost of labor an issue, but was also becoming the largest producer and recycler of steel. Till 1995, Taiwan, Hong Kong, Japan, Korea, and most of Europe were producing their shipping containers in Mainland China. Since 1996, CIMC is the largest manufacturer of ISO containers in the world, and by 2007 China produced 82% of the entire world supply of ISO shipping containers. Now, there are many small companies in China that fabricate the ISO certified containers.
Improvement in transportation services, growth of seaborne trade, and rise in number of manufacturing facilities are major factors that are driving the growth of the market. China is the largest producer of shipping containers in the world in terms of volume and is expected to maintain its position in the forecast period as well. It is attributed to the availability of low cost labor in China and rise in demand for efficient transportation modules across the globe. Implementation of development programs by government organizations further fuels the growth of the market. Moreover, the decline in global oil prices results in cost savings, due to which shipping companies invest in the purchase of new shipping containers globally. Also, variation in prices of steel affects the average selling price of these containers. However, slower economic growth in countries such as China and certain European countries is expected to hinder the global shipping containers market during the forecast period.
The market segmentation is based on size of container, product type, and geography. The size of container segment is further classified into small containers (20 feet), large containers (40 feet), and high cube containers (40 feet). The product type segment is bifurcated into dry storage container, flat rack container, refrigerated container, special purpose container, and others. Geographically, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, The Netherlands, and rest of Europe), Asia-Pacific (China, Japan, South Korea, Malaysia, Singapore, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Get more information on this report : Request Sample Pages
Asia-Pacific Lead Shipping Container Market
Asia-Pacific held the largest market share of the global shipping container market in 2015 and accounted for about 35% of the share of the total market. This is mainly due to growing demand of commodities and huge dependency on seaborne trade in countries such as India, China, and Indonesia. Availability of large coastal line and presence of majority of global shipping container manufacturers in Asia Pacific fuel the growth of shipping containers in Asia-Pacific. Also, increase in government initiatives, and expansion in untapped market of Asia Pacific such as India, and Indonesia can unfold various opportunities for the growth of the market in the future.
Market Share of Leading Countries, 2015 (% Share)
Get more information on this report : Request Sample Pages
High Cube Container Segment Topmost Investment Pocket
The high cube container segment offers potential for investment in the global shipping container market, owing to its projected growth rate during the forecast period 2017 to 2023. Versatility of container and growth in seaborne trade favors the growth of high cube container, thereby showing the highest growth rate of 4.9% over the forecast period (2017-2023).
Get more information on this report : Request Sample Pages
The key players profiled in the global shipping containers market include China International Marine Containers (Group) Ltd., TLS Offshore Containers International, CXIC GROUP, A.P. MOLLER - MAERSK GROUP, Singamas Container Holdings Limited, Dong Fang International Asset Management Ltd., W&K Containers, Inc., YMC Container Solutions, China Shipping Container Lines Co. Ltd., and Jindo Co. Ltd.
Other players in value chain include MSC Mediterranean Shipping Company S.A., CMA CGM Group, Sea Box Inc., and Tempohousing.
Key Benefits
Market Players in Value Chain
The global shipping container market is expected to have a steady growth due to increase in seaborne trade and industrialization globally. The market in the developed countries such as the U.S., Canada, Mexico, and Germany experiences slower growth when compared to the developing regions such as China, India, South Africa, and the Middle East, owing to the availability of raw material and low cost labor in these regions.
Ultra large container vessels capable of carrying more than 18.000 TEU (twenty-foot-equivalent-units) represent the fastest growing segment of global shipping container fleet. The arrival of such vessels exacerbates supply-and-demand inter balances on the major trade lines. Ports located in Asia and Europe are designed to hold these tremendous vessels on the coastal lines of the region. Also, Europe’s economic decline has resulted in reduced demand on the Asia-Europe trade lane.
According to the International Monetary Fund (IMF), the volume of global trade, which is key to the demand for container shipping services, is anticipated to increase by 3.4 percent in 2016. The total containership fleet grew by 8 percent in 2015 which added to the persisting overcapacities in the market. Subsequently, container freight rates declined by 30-40 percent even as scrapping of capacities continued. In contrast, container charter rates did increase in the first half of 2015, but could not keep the gains as they ended up 10 percent less than the prior year by the end of 2015. The containership order book at the end of 2015 stands at 18 percent of existing capacity which is a rather moderate increase of ordering activities as compared to the beginning of the year. In 2014, head-haul trade was just over double the size of back-haul. Asia accounted for the highest import volumes due to strong interregional trade, while North America experienced the highest import growth, due to higher Mexican imports. BIMCO expects the shipping container segment to see a net fleet growth of around 3.1% in 2017.
In terms of ocean container throughput and volume growth, the Asia Pacific region continues to dominate the globe, largely due to the recent and sustained double-digit increases in exports from China. China is the major shareholder of the shipping container market globally. Factors such as availability of raw materials, low cost labor, large coastal line, and large dependency on the seaborne trade are driving the growth of the market. The ISO containers (international standards) and non-ISO containers are manufactured in China and are exported to almost all parts of the world. The international market share of China is getting larger every year. China specializes in manufacturing of special purpose containers such as warm-keeping, pot, and regional special containers. Altogether, China has almost 900 diverse types of containers in various sizes which are expected to cater the needs of large section of customers.
Enterprise
License/PDF
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high level data integrity, accurate analysis and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
