The easy and trouble-free transportation is the key reason for the growth of global shipping containers market. This market is also getting a boost as international trade has increased on a massive scale. The future of this market is quite promising as the analysts suggest the global trade is poised to increase.
The global shipping containers market was worth US$3760 mn in 2018 and the report suggests that it will reach US$4130 mn by 2025, surging at a sluggish CAGR of 1.3% during the period of 2018 and 2025. QY Research discusses the future of the market in its latest report of “Global Shipping Containers Market Report, History and Forecast 2014-2025, Breakdown Data by Companies, Key Regions, Types and Application.”
Global Shipping Containers Market: Drivers
The sudden boom in the international trade is the primary reason for global shipping containers market to swell at a significant pace. Betterment of the transportation systems has also had a positive impact on the global shipping containers market. The easy process of packing different products has shown prominence for this market to expand. The packaging industry is flourishing with its innovative processes through development of newer technologies, which is indirectly impacting the global shipping containers market. Furthermore, the global political scenario in favor of open markets and trade is also influencing the global shipping containers market growth.
Global Shipping Containers Market: Segment Analysis
The global shipping containers market is segmented by type and application. In terms of type, the market is segmented into reefer container, dry container, special container, and tank container. In terms of applications, the market is segmented into industrial products, food & beverages, electronic and electrical, consumer goods, and others.
Global Shipping Containers Market: Regional Analysis
On the basis of region, the global shipping containers market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Asia Pacific is the leading region of global shipping containers production that is augmenting the market, for a number of reasons, such as cheap labor, easy availability of different metals, and others.
Global Shipping Containers Market: The Key Players
The key players studied in the global shipping containers market are CXIC Group, China International Marine Containers (CIMC), Dong Fang International Container, Singamas Container Holdings, Maersk Container Industry, American Intermodal Container Manufacturing (AICM), BSL Containers, TLS Offshore Containers, Hoover Container, and W&K Containers. These companies are continuously looking for better support and customer friendly services.
Last year, the CXIC Group visited the head office of Guangdong Fuwa Group to discuss the levels of cooperation in the container industry. Together they concluded that cooperation will help in boost trade of products and regions. This will help in developing market through improved services. Both the companies agreed that joining hands will help them to make the most of the shared systems. Such strategies are expected to help the players to stay relevant in times of intensifying competition.
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