ISO Tank Container Market

The global COVID-19 pandemic has been unprecedented and staggering, with ISO Tank container experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a growth of 9.9% in 2021 as compared to 2020.

Market Growth

ISO Tank containers are international intermodal containers manufactured according to the specifications of the International Organization for Standardization (ISO). The cornerstone of such containers is the capability to withstand extreme environments and ensure the structural integrity imposed on them by movement on land or sea. An ISO standardization ensures the container meets the derived size and durability requirements, so it can be safely and evenly stacked on steamboats and trains etc.

COVID-19 IMPACT

Supply chain crisis became a commonly used term during the COVID-19 pandemic, when COVID-19 caused tremendous economic disruption around the globe. At the beginning of the pandemic, it was anticipated that naval trading, including ISO Tank container trade, would experience a severe downfall. However, variations in shopping and consumption habits caused by the pandemic, integrate with a rise in e-commerce, as well as lockdown measures, has on contrary resulted in increased import demand for fabricated consumer goods, a large chunk of which is moved in shipping containers.

Market Dynamics

Market Drivers

The petrochemical industry is Holding the highest share of ISO Tank containers in the market, the petrochemical industry pushes forward the growth of these containers due to the demand for fossil fuels that dominate the market, such as oil, gasoline, diesel etc., showing a significant growth rate over the forecast period. High resistance to corrosion and the strength to transport hazardous liquids proves these containers to transport such chemicals safely. Low chances of leakage and greater volume per container works well in a macro-economic point of view in the bulk transport of such petrochemicals globally. Further, the use of petrochemicals in various industries diversifies and boosts the demand, especially from the developed countries, and is predicted to witness a rapid growth over the forecast period.

Market Opportunities

Increasing demand for highly efficient and superior capacity containers is expected to drive the global ISO Tank container market. Steady growth of seaborne trade, growing containerization, increasing application of remote container management solutions, increasing preference for high cube containers is further anticipated to fuel the growth of ISO Tank container in global market. Substantial demand for reefer containers, favorable government regulations pertaining to emissions and increasing need of standardization of containers is pushing the use of eco-friendly refrigerants in shipping containers are expected to present growth opportunities in the coming years. Increasing trade agreement such as NAFTA, ASEAN, etc. are projected to propel the growth of ISO Tank containers in upcoming years.

Market Restraints

ISO Tank container Market handling infrastructures and equipment, including warehousing facility, giant cranes, and inland road &, rail access are necessary capital investments that require large amounts of capital. Rising raw material cost of steel over the years has also impacted the cost of ISO Tank containers. Further, the inspection and certification of such containers also add up to the total manufacturing cost. Therefore, due to the afore-mentioned reasons, there has been a hindrance in the ISO Tank container market growth.

Competitive Landscape

Some of the main manufacturers of ISO Tank Container Market are:

• Bertschi AG

• BNH Gas Tanks

• Bulkhaul Ltd.

• CARU Containers B.V.

• China International Marine Containers Co., Ltd.

• CIMC

• CMA CGM Group

• CXIC GROUP

• Danteco Industries B.V.

• Den Hartogh Logistics

• Evergreen Marine Corporation.

• Hapag-Lloyd

• Hoover Ferguson Group, Inc.

• HOYER GmbH

• Interflow TCS Ltd

• KINGTANK

• Maersk Container Industry

• NewPort Tank Containers

• OEG Offshore Ltd.

• Sea Box, Inc.

• Sinochain Logistics Co., Ltd

• Suretank

• Tempohousing

Regional Analysis

The market report',s scope contains five major regions, North America, Europe, Asia Pacific, the Middle East &, Africa, and Latin America. The ISO Tank Container Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with ISO Tank Container market attractiveness as per segments. The report also maps the qualitative impact of various market factors on ISO Tank Container market segments and geographies.

Recent Development

• Royal Den Hartogh Logistics, a provider of marine logistics service majorly in the Asia Pacific region, merged with MUTO Group, which is an independent logistics service provider for the Korean chemical and petrochemical market. This strategic move expands the regional presence of both organizations.

• Den Hartogh Holding B.V.&rsquo,s Board of Directors declared the attainment of maximum shares of XT Logistics. This collaboration will considerably surge Den Hartogh&rsquo,s ability to deliver logistics services for chemicals in China.

• Bertschi AG partnered with Mapon. Bertschi AG will conduct training and improvement programs for its drivers to improve the quality of their driving and safety of operations.

• MOL Chemical Tankers Pte. Ltd. acquired a 20% stake in Den Hartogh Holding B.V. This acquisition strengthened the capacity of Den Hartogh to transport complex chemicals via marine and rail transport.