The global Shipping Container Market is classified on the basis of product types, applications and geography. Shipping containers are containers that assist the transport and carriage of goods without the need to unload and reload the cargo at intermediate points. Shipping containers are also known as ‘freight containers or cargo containers. These containers are large rectangular boxes made of a special corrosion resistant grade of steel and are characterized by high strength and durability. Shipping containers are made from materials such as steel, aluminium, fibre-reinforced polymer etc. or a combination of all.
Shipping containers have modernized the way cargo is transported on ships across oceans. Containerization has not only facilitated in guaranteeing the safety of the cargo but has also enhanced the overall cargo carrying capacity. Consequently, shipping containers of different types are being built and used for transporting a range of cargo across the globe.
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The factors that propel the market growth include growing seaborne trade. In addition, rising demand for transportation services is a primary driver of the Shipping Containers market.
Also, increasing number of factories and manufacturing units has fuelled the growth of the Shipping Containers market. Moreover, a number of government associations are also enhancing the market growth by providing specific guidelines to shipping companies. On the other hand, there are also factors that hamper the growth of the market such as high shipping cargo rates. In addition, sluggish economic growth across certain parts of the globe may also restrain the growth of the market.
Some of the prominent players that fuel the growth of the Shipping Containers Market includes CIMC, SINGAMAS, CXIC Group, Shanghai Universal Logistics Equipment, Maersk Container Industry, China Shipping Container Lines, Sea Box, CMA CGM, Hoover Container Solutions, W&K Container, Container Technology and Charleston Marine Containers.
On the basis of product types, the market report is classified as dry containers, reefer containers, tank containers and others. Dry containers and reefer containers are further sub classified on the basis of size into 20’ (20 ft.), 40’ (40 ft.), 40’ high cube (40 ft. High Cube), and into others sub-segments. Among the product types, the dry containers segment is projected to dominate the global market. Nevertheless, owing to growing adoption of reefer containers for transportation of perishables, this segment is expected to be the fastest-growing segment in terms of product type in the global market.
The growth of reefer containers segment is mainly driven by the growing preference for reefer containers over conventional refrigerated ships for transportation of perishable goods. The use of reefer containers ensures flexibility, efficacy, and decreased turnaround time as compared to the conventional means of perishables transport. On the basis of applications, the Market Report is classified as food transport, chemical transport and others.
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On the basis of geography, the Shipping Container Market is classified as North America, Europe, APAC, Middle East & Africa and Latin America. In case of geographical region, Europe is projected to dominate a major share in the global market. On the other hand, Asia Pacific is expected to be the second largest market for Shipping Containers.
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