Shipping Container Market size is valued at USD 9.7 billion in 2021 and is expected to reach a value of USD 13.3 billion by 2028, growing at a CAGR of 4.7% during the forecast period 2022 to 2028. The global market provides a detailed overview of the shipping container market, which has been segmented by product type, container size, and end user. By product type, the Shipping Container market has been segmented into Dry Storage Containers, Flat Rack Containers, Refrigerated Containers, Special Purpose Containers, and Others. The Dry Storage Containers segment is likely to be the largest and fastest-growing segment in terms of products. By Container Size, the shipping container is segmented into Small Containers (20 feet), Large Containers (40 feet), and High Cube Containers (40 feet). The Large Containers (40 feet) segment accounted largest revenue share in 2021. Based on the end user, the shipping container is segmented into Food & Beverages, Consumer Goods, Healthcare, Industrial Products, Vehicle Transport, and Others. According to precision business insights, the Industrial Products segment is predicted to register the fastest growth rate during the forecast period.
In March 2021, Dubai-based Transworld Group signed an agreement worth USD 26.83 million with Indian state-owned Sagarmala Development Company Ltd. to construct a cargo container manufacturing facility in Gujarat, India.