New York, NY — 04/26/2018 — According to a new market report published by Persistence Market Research, titled “Global Market Study on Shipping Containers: Asia Pacific to Witness Highest Growth by 2021 “, the global market for shipping containers is estimated to reach value of US$ 8.29 Bn by 2015 end, and is expected to expand at a CAGR of 5.6% from 2015 to 2021, to reach a market value of US$ 11.47 Bn by 2021.
Shipping Containers Market Research Report Overview @ https://www.persistencemarketresearch.com/market-research/shipping-containers-market.asp
Shipping containers also referred to as 'freight containers or cargo containers', are rectangular steel containers used for intermodal transportation of goods across the globe. The use of shipping containers for transportation of goods has emerged as an effective alternative to conventional methods involving loading of cargo directly onto ships. As such, adoption of shipping containers for intermodal transportation of goods and perishables has resulted in improved efficiency and greater ease in handling cargo.
Request to Sample of Report @ https://www.persistencemarketresearch.com/samples/6748
Growth of seaborne trade is expected to emerge as a major factor driving the growth of the global shipping containers market during the forecast period. Besides, growing containerization, i.e. adoption of containers for transportation as against traditional methods of loading goods directly onto ships, is another factor expected to fuel the growth of the global shipping containers market during the forecast period. Moreover, the decline in global oil prices is resulting in cost savings, which shipping companies can invest in the purchase of shipping containers. Also, variation in prices of steel in turn is affecting the average selling price of these containers. However, slower economic growth in countries such as China and certain European countries is likely to impede the growth of the global shipping containers market during the forecast period. Revenue from the global shipping containers market is expected to increase from US$ 8.29 Bn in 2015 to US$ 11.47 Bn by 2021, expanding at a CAGR of 5.6% during the forecast period.
In terms of market value, Europe is expected to dominate the global shipping containers market during the forecast period. Asia Pacific is expected to be the second largest market for shipping containers and account for a revenue share of around 35% of the estimated global shipping containers market value for 2015. It is slated to expand at a CAGR of around 5.4% between 2015 and 2021. On the basis of product types, the dry containers segment is slated to dominate the global shipping containers market throughout the forecast period. However, due to increasing adoption of reefer containers for transportation of perishables, this segment is expected to be the fastest-growing segment in terms of product type in the global shipping containers market during the forecast period. In terms of market value, the reefer containers segment is expected to expand at a CAGR of 6.3% between 2015 and 2021.
Get full Report Now @ https://www.persistencemarketresearch.com/checkout/6748
Latest posts by Editorial Team (see all)
- American Academy of Thermology 2018 Annual Scientific Session Awarded 6.5 hours of AMA PRA Category 1 CME - May 20, 2018
- Strong Programme Raises Profile of the Maritime Standard Ship Finance and Trade Conference - May 20, 2018
- Pegasus Food Futures Announces Appointment of Stefanie Paterson as Head of Human Resources - May 20, 2018