Rapid Expansion of the Freight Industry to Boost Growth of Global ISO Shipping Container Market

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The global ISO container market has been advancing at a steady rate and is expected to exhibit a CAGR of 5.60% over the forecast period, projects Market Research Future (MRFR) in an exhaustive study. ISO shipping containers are made according to ISO specifications and the need to comply with ISO standards has triggered the growth of the global ISO shipping container market.  The global ISO shipping container market has been posting incremental growth on account of growing adoption of shipping containers in the seaborne trade. They are being highly preferred in the global commerce due to its intermodal capability and its ability to move in trucking, railroad as well as travelling over ocean infrastructure easily. With the expansion of seaborne trade, the demand for ISO shipping containers are likely to inflate and propel the growth of the market. ISO shipping containers have gained prominence as a global standard for bulk transportation of raw materials in international shipping contribute to the growth of the market. With the rise in disposable income across the globe, a robust demand for food products, consumer products and other commodities has been observed. This rise in international trade has paved the way for the growth of the global ISO shipping container market. 

The growth of the global ISO shipping container has been influenced by the expansion of industrial base in China. China is one of the largest manufacturers of shipping containers in the world and has witnessed substantial expansion of manufacturing capabilities. Moreover, owing to rapid industrialization in China, China's international trade has also accelerated which induces high demand for ISO shipping containers. On the contrary, the growth of the market might be hindered by slow economic progress in various countries which is anticipated to hinder international trade. Moreover, impact on the environment and fluctuation in the price of raw materials are other restraining factors.

Segmentation

The global ISO shipping container market has been segmented based on type and application. By type, the market has been segmented into Standard Dry Container, High Cube Dry Container, Refrigerated Container and High Cube Refrigerated Container. By application, the market has been segmented into Food Transport, Consumer Goods Transport and Industrial Transport.

Regional Analysis      

Regionally, the market has been segmented into North America, Europe, Asia pacific, and the Rest of the World. Asia Pacific, led by China, is one of the strongest market for global ISO shipping containers. Rapid industrialization in China along with supportive policies for international trade supports the growth of the market in China.
Europe too is a strong market for ISO shipping containers. Moreover, various regulatory authorities are working towards strengthening export capacity across various industries which fuels the growth of the global ISO shipping container market in Europe.

Competitive Landscape

Sea Box Inc., Hoover Container Solutions Inc., Evergreen Marine Corporation, SINGAMAS, CIMC, CXIC Group, Hapag-Lloyd, Charleston Marine Containers, Inc., Maersk Container Industry A/S, Shanghai Universal Logistics Equipment are the prominent players operating in the global ISO shipping container market.

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