- LATIN AMERICA
- MIDDLE EAST
- United Kingdom
- United States
- New Zealand
- South Africa
The Shipping Industry is a global industry and serves the global economy as the world continues to be interlinked through imports and exports. It is also one of the world's most competitive industries. Segments of the shipping industry include: Dry bulk, Wet bulk, Containers, General Cargo, air freight; road, rail, river and canal transportation.
According to Fortune Business Insights, the global cargo shipping market size was valued at 10.85 billion tons in 2020 and is expected to reach 13.19 billion tons by 2028, registering a CAGR of 2.5% during the forecast period of 2021-2028. Rising Demand for Import and Export of Manufactured Goods to Foster Market Development.
Cargo shipping is used to transport cargo and goods from cargo ships, vessels, and others. The rising demand for import and export activities is expected to boost the adoption of the product. The shipping's lower cost and efficient and economical transportation is expected to boost its adoption. Furthermore, strict emission norms by governments are expected to foster the adoption of cargo shipping. Moreover, rising economic liberalization in developing countries is expected to bolster the product's adoption. These factors may fuel the market development during the upcoming years.
By cargo type, the Shipping Industry is classified into container cargo, general cargo, dry bulk, liquid bulk, and others. As per industry type, it is categorized into electrical & electronics, oil, gas & ores, manufacturing, and food & beverages.
Geographically, the Shipping Industry market is divided into North America, Asia Pacific, Europe, and the rest of the world.
Key Companies in the Global Market:
Mediterranean Shipping Company S.A. (MSC) (Geneva, Switzerland)
CMA CGM Group (Marseille, France)
Orient Overseas Container Line Limited (OOCL) (Wan Chai, Hong Kong)
China COSCO Shipping (Shanghai, China)
Evergreen International Corp. (Taipei, Taiwan)
Hapag-Lloyd AG (Hamburg, Germany)
Ocean Network Express Pte. Ltd. (ONE) (Tokyo, Japan)
Yang Ming Group (Keelung City, Taiwan)
HMM Co., Ltd. (Seoul, South Korea)
Panalpina World Transport (Holding) Ltd. (Basel, Switzerland)
Deutsche Bahn AG (Berlin, Germany)
Source: Global Newswire
According to a new report by Future Market Insights (FMI), the global foldable container market is likely to be valued at US$ 2.0 Bn by the end of 2033 from US$ 1.3 Bn in 2023. The market is set to exhibit growth at a CAGR of 4.6% during the forecast period from 2023 to 2033.
Transfer of freight from one form of transportation to another is referred to as intermodal transportation. Since delays in product delivery are caused by ports' severe traffic problems, foldable containers are becoming more and more popular, particularly in developing nations.
Previously, the crew had difficulty loading and unloading containers used in intermodal shipping, which resulted in delays and expensive charges. On the other hand, foldable container is simple to handle, which has led to a large amount of use by freight companies.
Bulk containers that are efficient in terms of time and space usage, as well as cost are required for this type of transportation. Foldable or collapsible containers take less space as they are one-fifth of their actual size after folding.
Also, foldable containers can reduce the required space and cost of transportation. In the past few years, international trade has increased significantly and the high volume of goods is projected to push the need for foldable & collapsible containers. Thus, intermodal transportation is anticipated to create profitable growth prospects for manufacturers of foldable containers.
Storage is viewed as one of the most precious firm resources and is set to play a critical role in industrial or commercial warehouses. Additionally, space can be added to the expensive amount.
Storage space is expensive, and making use of that essential space profitably leads to additional savings. This feature is offered by foldable containers and the factor is anticipated to propel the global market.
Foldable container can also meet the need for items that may increase storage capacity that shipping and storage managers are continuously seeking. Thus, need for cost and space-effective storage containers are projected to boost the demand for foldable containers.
Monoflo International, Schoeller Allibert Services B.V., DS Smith Plc, Steel King Industries, Inc., Sintex Group, IPL Plactics Inc., Tripak Solutions, and Myers Industries, Inc. are a few key players operating in the global foldable container market. Also, some of the other noticeable players in the market include Dolav UK Limited, Bekuplast GmbH, Intech Worldwide GmbH, Fletcher European, Corplex UK, Enco Plastic Limited, KTP Kunststoff Palettentechnik GmbH, Nilkamal Material Handling, NPP Group Limited, AUER PACKAGING, Transoplast Group, and others.
Source: Global Newswire