Pune, India, Jan. 11, 2023 (GLOBE NEWSWIRE) -- The global ISO Container Market was 686.6 thousand units in 2021. The global market size is expected to grow from 743.0 thousand units in 2022 and reach 1,362.4 thousand units by 2029, exhibiting a CAGR of 9.0% during the forecast period from 2022-2029. This information is provided by Fortune Business Insights, in its report, titled, “ISO Container Market, 2022-2029.”
According to our analysts, the factors such as cost-effective and convenient way of transportation, increasing use of IoT-based solutions in ISO Container industry to boost the growth of market during forecast period.
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Report Highlights:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 9.0% |
| 2029 Value Projection | 1,362.4 thousand units |
| Base Year | 2021 |
| Market Size in 2021 | 686.6 thousand units |
| Historical Data for | 2018-2020 |
| No. of Pages | 140 |
| Segments Covered | By Transport Mode, By Container Type, By End-use Industry and By Region |
| Growth Drivers | Cost-effective and Convenient Way of Transportation to Boost Market Growth |
| Road Segment to Hold Majority Market Share during Forecast Period |
COVID-19 Impact
Supply Chain Crisis during COVID-19 Will Lead to Imbalance in Supply and Demand
When COVID-19 caused significant global economic disruption, the phrase ‘supply chain crisis’ gained widespread usage.
Naval trading, especially ISO container shipping, was expected to suffer a serious decline at the start of the pandemic. On the other hand, the pandemic's effects on changes in purchasing and consumption patterns, as well as a surge in e-commerce and lockdown measures, led to a rise in the import of manufactured consumer products, a significant portion of which is transported in shipping containers.
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Driving Factors
Cost-effective and Convenient Way of Transportation to Boost Market Growth
Globalization and containerization have had a big impact on the shipping sector since they increased the demand for transportation while lowering costs and enhancing efficiency.
Additionally, ISO tanks lower handling and shipping costs as they make it possible to pack and transport liquids that are smaller than truckloads or shiploads with ease from a truck to a train and from a railway to a ship deck. In some cases, ISO containers can even be transported with ease via airways.
Key Industry Development
November 2021: The MUTO Group, an independent logistics service provider for the Korean chemical and petrochemical sector, collaborated with Royal Den Hartogh Logistics, a provider of marine logistics services primarily in the Asia Pacific region. The two organizations' regional footprint increased as a result of this strategic move.
List of Key Players Covered in the Report
- Intermodal Tank Transport (U.S.)
- Bertschi AG (Switzerland)
- Bulkhaul Limited (U.K.)
- Royal Den Hartogh Logistics (Netherlands)
- HOYER GmbH (Taiwan)
- Interflow TCS Ltd. (U.K.)
- New Port Tank (Netherlands)
- Sinochain Logistics Co., Ltd (China)
- Stolt-Nielsen Limited (U.K.)
- VTG Tanktainer GmbH (Germany)
Report Coverage
The report offers valuable insights obtained by thorough study done by our researchers. An extensive research was conducted to provide the estimated size of the market. The data used to project the shares for multiple segments at the country, regional, and global levels is obtained from in-depth interviews with numerous stakeholders. Furthermore, we have gained access to several global and regional paid databases to deliver precise information to make business investment decisions easy for you.
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Segments
Road Segment to Hold Majority Market Share during Forecast Period
On the basis of transportation mode, the market is classified into rail, marine, and road. Large quantities of goods are transported across major nations that demand an efficient logistics support system along with the approach of spoke–hub distribution to tackle the transport task.
Multi Compartment ISO Container to Hold Highest Market Share During the Forecast Period
Based on container type, the market is divided into multi-compartment tank, lined tank, reefer tank, cryogenic & gas tanks, and swap body tank. Out of all these, the demand for multi-compartment tank segment is expected to spur the ISO container market growth due to its multiple advantages such as carrying multiple types of freight simultaneously.
Transportation of Petrochemicals to Generate Maximum Revenue
Based on end-use industry, the market is segmented into petrochemicals, industrial gas, food & beverage, chemicals, pharmaceuticals, and others that include paints and so on. Due to the surge in global demand for petrochemicals, it is anticipated to surpass the demand for gasoline and diesel by 2030. Thus, petrochemicals will hold the highest segmental share.
The market report's scope comprises five major regions, North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Regional Insights
Asia Pacific to Dominate Stoked by Major Operations in Key Countries
The Asia Pacific region will control the regional market and have a sizable ISO container market share in 2021. Its dominant position in the global market is partly due to the robust maritime trade from Asia Pacific nations including China, Japan, India, and South Korea.
Due to an increase in maritime commerce activity, Europe is also anticipated to experience considerable market expansion. The rise is also being accelerated by the presence of several key players in the area.
Furthermore, due to the region's rapid development of warehouses and distribution centers, North America is also anticipated to hold a significant share of the market.
Competitive Landscape
Partnerships among Companies to Secure their Brand Values in the Global Market
Prominent players in the market are constantly opting for effective strategies to promote their products and establish their positions in the market. One such strategy is to launch new products by partnering with other companies to extend their reach to end-users.
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Global ISO container market Size Segmentation:
By Transport Mode
- Road
- Rail
- Marine
By Container Type
- Multi-Compartment Tank
- Lined Tank
- Reefer Tank
- Cryogenic & Gas Tanks
- Swap Body Tank
By End-use Industry
- Chemicals
- Petrochemicals
- Food & Beverage
- Pharmaceuticals
- Industrial Gas
- Others (Paints)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Table of Contents
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities, and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global ISO Container Market Key Players Market Share Insights and Analysis, 2021
- Global ISO Container Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Transport Mode (Volume)
- Road
- Rail
- Marine
- By Container Type (Volume)
- Multi-Compartment Tank
- Lined Tank
- Reefer Tank
- Cryogenic & Gas Tanks
- Swap Body Tank
- By End-use Industry (Volume)
- Chemicals
- Petrochemicals
- Food & Beverage
- Pharmaceuticals
- Industrial Gas
- Others (Paints etc.)
- By Region (Volume)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- North America ISO Container Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029
- Key Findings
- By Transport Mode (Volume)
- Road
- Rail
- Marine
- By Container Type (Volume)
- Multi-Compartment Tank
- Lined Tank
- Reefer Tank
- Cryogenic & Gas Tanks
- Swap Body Tank
- By End-use Industry (Volume)
- Chemicals
- Petrochemicals
- Food & Beverage
- Pharmaceuticals
- Industrial Gas
- Others (Paints etc.)
- By Country (Volume)
- The U.S.
- By Transport Mode
- Road
- Rail
- Marine
- By Transport Mode
- Canada
- By Transport Mode
- Road
- Rail
- Marine
- By Transport Mode
- The U.S.
Continued...
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