Logistic Ventures
Containers and Warehousing
The warehousing and storage market expected to reach a value of nearly $646.77 billion by 2022, significantly growing at a CAGR of 10.7% during the forecast period. The growth in the warehousing and storage market is due to rise in trade activity in emerging economies such as China, India, Malaysia, South Africa, Brazil, and Russia, rise in consumption of processed food products and increasing demand for consumer durable goods.
As per the report published by Allied Market Research, the global shipping containers market accounting for $8.70 billion in 2018 and is projected to garner $12.08 billion by 2026, growing at a CAGR of 4.3% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
The rise in demand for cargo transportation through ships and an increase in trade-related agreements have boosted the growth of the global shipping containers market. However, fluctuations in transportation and inventory costs hamper the market. On the contrary, the anticipated trend of the automation in marine transportation, and the rise in marine safety norms would create opportunities for the market players in the coming years.
The global shipping containers market is divided on the basis of container size, product type, end-use, and region. Based on container size, the market is segmented into small containers (20 feet), large containers (40 feet), and high cube containers (40 feet). The small container segment held the largest share in 2019, accounting for nearly one-third of the market. However, the large container segment is projected to register the highest CAGR of 4.8% during the forecast period.
Based on product type, the market is categorized into dry storage containers, flat rack containers, refrigerated containers, special-purpose containers, and others. The dry storage containers segment dominated the market in 2018, accounting for more than one-fourth of the market. In addition, the segment is projected to register the highest CAGR of 5.3% during the forecast period.