Market Size in 2020 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 6.45 Billion | USD 16.01 Billion | 4.24% | 2020 |
FrequentlyAsked Questions
Surge in cargo transport activities through ships & steamers will spur market size. Additionally, shipping containers are used for transporting as well as goods carriage without uploading & reloading need at intermediate points. This has enhanced popularity of product leading to humungous growth of shipping container industry. Apart from this, rise in maritime shipping activities with rise in trade deals across globe will embellish business trends.
According to Zion market research report, the global Shipping Container Market accrued earnings worth approximately 6.45 (USD Billion) in 2020 and is predicted to gain revenue of about 16.01(USD Billion) by 2028, is set to record a CAGR of nearly 12.1% over the period from 2021 to 2028.
Asia Pacific will contribute lucratively towards the global market earnings over the projected timeline. The regional market surge is subject to rise in trade through sea and land route activities in sub-continent. In addition to this, huge demand for shipping containers across countries such as Japan, India, and China will prop up expansion of shipping container market in Asia Pacific zone. Additionally, large-scale presence of key manufacturers in sub-continent will help in contributing sizably towards regional market revenue over coming years.
The key market participants include TLS Offshore Containers International, Sea Box, Inc., YMC Container Solutions, CXIC Group Containers Company Limited, CARU Containers B.V., Maersk Container Industry, Singamas Container Holdings Limited, China International Marine Containers Co., Ltd., OEG OFFSHORE LIMITED, and W&K Container.
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