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Shipping Containers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Shipping Containers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Shipping Containers Market is anticipated to register a growth rate of 4.3% during the period (2021-2026). COVID-19 has impacted the global container shipping capacity, with 11% of sailings canceled in May 2020 on all the mainline trades.Commodity vessels, such as dry bulk and tanker vessels, have seen lower demand and lower freight rates. There have been reports that Very Large Containership Vessels (VLCVs) are leaving Chinese ports filled to just 10% of their capacity. Some companies suspended certain of its manufacturing activities in January 2020 due to the mandatory government quarantine measures to control the epidemic's spread. The production resumed lately in mid of February 2020 in Chinese provinces.

According to industry reports, the air mode of transport will be the most preferred for Covid-19 vaccine distribution globally due to the urgency, there is going to be huge demand for marine reefer containers to transport the vaccine as well. It is estimated that over 60,000 reefer containers would be required for distribution of the vaccine over a period of two to three years.

At present, reefer containers are used to transport pharma products and perishables. There is no clear picture on whether a significant number of the existing reefer containers will be diverted to distribute the vaccine or new containers will enter the market to meet the likely surge in demand. The indicated production locations of the vaccine are India, China, France, UK, Switzerland, Russia, Japan and Brazil and the United States. The high costs associated with shipping containers is expected to restrain the growth of the shipping container market.The price of shipping containers depends on their size and condition.

Key Market Trends

Increase in demand for cargo transportation through ships

According to industry reports, Maritime shipping will remain the largest contributor to global tonne-kilometres. Ships will carry out more than three-quarters of all goods movements by 2050. Maritime shipping covers most of the movement of goods over long distances, and this will continue to be the case in the coming years. The current demand pathway projects that maritime freight transport will grow at a compound annual growth rate of 3.6% through 2050. This will lead to a near tripling of maritime trade volumes by 2050.

Cargo rollovers at Asia’s main hub ports rose sharply through December 2020, as rising container demand from the US and Europe overwhelmed terminals and carrier capacity, despite the deployment of all available vessels and extra loaders on both trades.

The strength of the recovering demand from the US and Europe following second-quarter 2020 economic lockdowns surprised the container shipping market. Carriers reinstated all available capacity to cope with the rising volume through a peak season that began in July 2020 and August 2020 on the trans-pacific and Asia-Europe trades and has continued into 2021.

Several carriers also deployed extra loaders or sweeper vessels to cope with the rising demand, but it was not enough to reduce rollover ratios. This indicates that the levels of cargo are still rising while the extra loader capacity, which has been deployed to meet the raised levels of demand, appears to be having little effect.

The demand for the transportation of cargo through waterways is growing owing to factors such as costefficiency and secured way of moving goods as compared to other means of transportation

Demand for Dry containers

One of the key factors that will stimulate growth in the dry containers is the growth in intermodal transportation. Intermodal transportation is gaining popularity because it requires low investments and is highly efficient and environmental friendly. This transportation offers door-to-door delivery along with a shorter delivery time. It also ensures the safety of the cargo and involves the use of different routes. Intermodal transportation involves only a few idle periods during the operation and is easy to track.

Shippers highly prefer intermodal transportation due to the introduction of technological advancements such as computerized vehicle routing, online freight exchange, and active traffic management etc.

Increase in demand-supply scenario of manufacturing and construction industries across the globe is likely to propel the demand for dry containers. Additionally, increase in number of lease and rent services of containers for logistics and shipment industries is likely to offer lucrative opportunities to the dry van container.

Competitive Landscape

The Shipping containers market is consolidated. Top 3 companies hold more than 70% of the market share. Leading shipping containers vendors including China International Marine Containers (Group) Ltd. (CIMC), Dong Fang International Container (Hong Kong) Co. Ltd., and Maersk Container Industry AS.

Reasons to Purchase this report:

- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study



4.1 Market Overview
4.2 Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunities
4.3 Value Chain / Supply Chain Analysis
4.4 Porters 5 Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Technological Advancements
4.6 Spotlight on the Emergence of Intermodal Transport and Rail
4.7 Effect of Freight Rates on the Container Industry
4.8 Insights on Global Container Leasing Market
4.9 Pricing Analysis – Different Type of Containers
4.10 Impact of COVID-19 on the market

5 MARKET SEGMENTATION (Market Size by Value)
5.1 By Size
5.1.1 Small Container (20 Feet)
5.1.2 Large Container (40 Feet)
5.1.3 High Cube Container
5.2 By Type
5.2.1 Dry Storage Container
5.2.2 Refrigerated Container
5.2.3 Tank Container
5.3 By Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Rest of Europe
5.3.3 Asia Pacific China Japan South Korea India Rest of Asia-Pacific
5.3.4 Rest of the World

6.1 Overview
6.2 Company Profiles
6.2.1 TLS Offshore Containers International Pvt. Ltd
6.2.2 China International Marine Containers Co. Ltd
6.2.3 Maersk Container Industry AS
6.2.4 W&K Container Inc.
6.2.5 Singamas Container Holdings Limited
6.2.6 YMC Container Solutions
6.2.7 Sea Box Inc
6.2.8 Dong Fang International Container (Hong Kong) Co. Ltd/ Oriental International
6.2.9 CXIC (Changzhou Xinhuachang Int'l Containers) Co. Ltd
6.2.10 Storstac Inc.
6.2.11 China Eastern Containers
6.2.12 CARU Containers BV
6.2.13 American Intermodal Container Manufacturing Company (AICM)
6.2.14 Valisons & Co.
6.2.15 Ritveyraaj Cargo Shipping Containers



Report Title: Shipping Containers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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