Over the years, Shipping of temperature sensitive goods has emerged as the matter of concern across the globe. Thermal fluctuations are the key concern faced during the transit of heat sensible products. As a result, major industries such as chemical & pharmaceutical, food & beverages, consumer goods, etc. heavily rely on insulated containers for shipping. Insulated shipping containers play a significant role in shipping of goods that needs to resist extreme temperature variations which can be either too high or too low. Goods manufacturers usually prefer insulated shipping containers for shipping goods a short distance. Not only insulated shipping containers are used for transportation but also for secure storage of goods such as leather lounges, books, wine, etc. with no temperature fluctuation.
Global Insulated shipping containers Market: Drivers & Restraints
Growth in demand for insulated shipping containers is anticipated to grow strongly over the forecast period for several reasons. The increase of commodity trade in developed as well as developing nations is expected to drive the demand for insulated shipping containers across the globe. One major factor that contributes towards the demand of for insulated shipping containers is expanded use of higher value, larger size containers that offer improved performance and are economical shipping solutions than other containers with shorter service capability. However, higher initial cost and lack of product awareness among manufacturers are likely to be some of the restraining factors towards the growth of the insulated shipping containers market. Additionally, competition from flexible insulated packaging solutions which are considerably less expensive than rigid insulated shipping containers is another major challenge towards the growth of the global insulated shipping containers market.
Global Insulated shipping containers Market: Segmentation
The global insulated shipping containers market is segmented as follows
On the basis of type, the insulated shipping containers market is segmented into:
- Non-Operational (NOR) Refrigerated Containers
- Insulated Purpose-Built Shipping Containers
On the basis of material type, the insulated shipping containers market is segmented into:
On the basis of size of containers, the insulated shipping containers market is segmented into:
- 20 foot Containers
- 40 foot Containers
On the basis applications, the insulated shipping containers market is segmented into:
- Food & Beverages
- Consumer Goods
Global Insulated shipping containers Market: Segmentation Overview
Insulated shipping containers are in high demand for bulk shipping of goods across the globe. Based on the material type, insulated containers made stainless steel are expected to dominate the insulated shipping containers market over the forecast period. Insulated shipping containers are used for shipping goods such as chemicals, pharmaceuticals and some packaged goods which need to avoid extreme temperature fluctuations.
Global Insulated shipping containers Market: Regional Overview
Geographically, the insulated shipping containers market is segmented into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
The global insulated shipping containers market is projected to grow at a double digit CAGR throughout the forecast period. North America and European countries are likely showing a steady rate of growth over the forecast period as the insulated shipping containers market is well established in this region. Asia-Pacific region is estimated to be the most lucrative marketplace for the growth of insulated shipping containers due to rise in end use shipping applications in the region over the forecast period. China is estimated to bag the largest share in the insulated shipping containers market followed by India in Asia Pacific region, and market in this developing economies expected to witness sharp growth in the near future. Likewise, with the growing chemical & pharmaceuticals industry, the Latin America and MEA regions are likely to create opportunities for the insulated shipping containers manufacturers over the forecast period.
Global Insulated shipping containers Market: Key Payers
Some of the key players that operate in the insulated shipping containers market across the globe are Gateway Container International Limited Company, Port Containers LLC., and Containers Direct Ltd.
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