Global Shipping Container Market 2018-2022
About Shipping Container
The shipping container manufacturers in the global shipping container market sell shipping containers to various end-users such as container lessors, container fleet management companies, and shippers or cargo movers.
Technavio’s analysts forecast the global shipping container market to grow at a CAGR of 8.51% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global shipping container market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Shipping Container Market 2018-2022
Technavio recognizes the following companies as the key players in the global shipping container market: China International Marine Containers (CIMC), CXIC, Dong Fang International Container, Maersk Container Industry, and Singamas Container Holdings.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is expected decline in dominance of China in global shipping container market. China has been dominating the global shipping container market since 1990. Prior to that, the South Korea market was known for shipping container manufacturing. In the middle of 1998's the shipping container market in South Korea began to lose out its share to China due to unaffordable manufacturing cost.”
According to the report, one driver in the market is growing global container traffic. The global container traffic is growing progressively after a steep decline in 2009. The steep decline in container traffic growth is mainly because of the after-effects of the global recession in 2008. The global shipping container market is one among the few markets that showed faster recovery after this recession.
Further, the report states that one challenge in the market is volatility in steel prices. The key raw material for the manufacturing of shipping containers is steel. The steel is extracted from iron ore. Therefore, volatility in the prices of iron ore will reflect on the prices of steel. Across the globe, China is the established manufacturer of iron ore. The instability in China's economy will affect the iron core production and, consequently, the steel price across the world.
China International Marine Containers (CIMC)
Dong Fang International Container
Maersk Container Industry
Singamas Container Holdings