Shipping containers are an integral part of the international logistics and transportation industry as it facilitates bulk shipping of products across distances in a safe and efficient manner. These containers protect goods in transit and supports swift interchange of cargo between ships, trucks, and trains while ensuring safety, security and effective use of space. With majority of goods being transported via ships, growth in global trade has augmented the demand for shipping containers over the years.

The global Shipping Containers Market is estimated to be valued at US$ 12572.95 Mn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends accelerating growth in the shipping containers market is the rising international trade volumes globally. International trade activity has expanded significantly over the past few decades with growing globalization and establishment of trading blocs. According to World Trade Organization (WTO), the volume of world merchandise exports grew by 18% from 2017 to 2021 reaching over USD 28 trillion. China continues to be the global leader in international trade and exports a variety of goods ranging from electronics to garments across continents. Similarly, trade between the US and other Asian countries like India and Southeast Asian nations has strengthened considerably. This expanding trade has augmented the demand for shipping containers for bulk transportation of goods via sea routes, which is a major market driver.

Segment Analysis
The global shipping containers market is dominated by the dry containers segment. A majority of goods traded internationally are shipped in dry containers as they provide efficient and cost-effective transportation for general cargo. Consumer goods, electronics, industrial machinery and equipment, and automotive components form a bulk of the commodities transported globally in dry containers every year. Their ubiquitous use can be attributed to considerable strength, durability and ability to stack several rows high on container ships as well as other vehicles for land and rail transportation.

Key Takeaways
The Global Shipping Containers Market Trend is expected to witness high growth over the forecast period driven by growing international trade and demand for efficient logistics. The global Shipping Containers Market is estimated to be valued at US$ 12572.95 Mn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030.

The Asia Pacific region currently dominates the market owing to countries like China being the world's factory with highly developed manufacturing industries and export-oriented economies. China also has the world's largest shipping fleet as well as busiest container ports, which has made it a prominent manufacturing and export hub. Countries such as China, India, Japan, and South Korea have seen immense growth in their manufacturing industries contributing to increased exports. Additionally, government initiatives to improve supply chain infrastructure and develop smart ports have propelled the regional trade volumes.

Key players
Key players operating in the shipping containers market include AR Packaging Group AB, HUHTAMAKI GROUP, International Paper, DS Smith PLC, Amcor Limited, and Rengo Co., Ltd. These players focus on developing sustainable and lightweight packaging solutions to cater to the needs of different end-use industries such as food and beverage, consumer goods, and pharmaceuticals.

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