The ISO container market is projected to secure a valuation of US$ 266.53 million in 2023 and is expected to rise to US$ 630.97 million by 2033. The market is anticipated to register a CAGR of 9% during the forecast period.
The growing industrialization, urbanization and population are increasing the adoption of ISO containers. The manufacturers are developing ISO containers by adopting advanced Artificial Intelligence technology. The food & beverages industry is raising the demand for ISO container to store dairy items, vegetables and meat products. Rising road, railway and marine transportation are fueling the market growth.
The demand for ISO container is rising due to their high efficiency, better storage and low costs. These containers are safe, relevant and excellent choices while transporting goods & services. Prominent manufacturers are reducing carbon footprints by developing highly standardized products that protect the environment.
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The changing consumer lifestyle, ready-to-eat food, and easy-to-carry loads are fueling market growth. In addition, the rising economies, international trade, domestic transportation, and availability of different container types propel the market size. In addition, growing investments, government initiatives and the presence of key players are booming the market opportunities.
Key Takeaways:
- The ISO containermarket is expected to have a valuation of US$ 630.97 million by 2033.
- With an expected CAGR of 9%, the global market may grow in size from 2023 to 2033.
- The Asia Pacific ISO container marketis estimated to secure a maximum share through 2033.
- The market secured a CAGR of 8.1% in the historical period between 2017 and 2022.
- The petrochemicals sector is projected to dominate the global market by 2033.
Who is Winning?
The prominent players are playing a crucial role by investing huge amounts in research and development activities in the global market. As a result, these players are innovating unique and advanced products as per end-users’ requirements. Furthermore, these players focus on developing new and non-toxic products using premium raw materials.
Prominent vendors adopt several marketing strategies: collaborations, mergers, acquisitions, agreements, partnerships, and product launches. These layers continue to bring innovation and expand the market to another height in the coming period.
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Other Key Players in the Market are:
- HOYER
- Welfit Ody
- Meeberg
- Tankcon
- Tankformator
- Bertschi AG
- Stolt-Nielsen Limited
- China International Marine Containers Ltd
- VIG Tanktainer GmbH
- Intermodal Tank Transport
- Bulkhaul Limited
- Interflow TCS Ltd
- Royal Den Hartogh Logistics
- New Port Tank
- Sinochain Logistics Co., Ltd.
Recent Developments in the ISO Container Market are:
In Jan 2022, China International Marine Containers Ltd announced its new installation of hydrogen refueling, hydrogen cylinder, and energy tank stations to reduce carbon emissions.
In Nov 2021, Royal Den Hartogh Logistics announced its merger with MUTO Group to expand its portfolio in the Korean market.
In Mar 2020, Bertschi AG partnered with a training provider company Mapon. This partnership provides several driving safety programs to their drivers.
In Feb 2019, MOL Chemicals Tanker announced the acquisition of 20% of the stake in Den Hartogh Holding to advance the portfolio in transporting chemicals through rail and marine transport.
In 2021, Stolt Tankers reduced 6% of fuel consumption by taking off 18,000 automobiles to limit carbon emissions.