ISO Tank Container Market Size, Share, Trends, Growth, and Industry Analysis, By Transport Mode (Road, Rail, Marine), By Container Type (Multi-Compartment Tank, Lined Tank, Reefer Tank, Cryogenic & Gas Tanks, Swap Body Tank), By End-use Industry (Chemicals, Petrochemicals, Food & Beverage, Pharmaceuticals, Industrial Gas, Others), Regional Insights and Forecast to 2032
global iso tank container market size was USD 1.35 billion in 2022 and the market is projected to touch USD 3.15 million by 2031, at a CAGR of 15.0% during the forecast period.
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.
REPORT SCOPE & SEGMENTATION:
|
Report Attribute |
Details |
|
Projected Market Value (2031) |
3.15 Billion |
|
Estimated Market Value (2022) |
1.35 Billion |
|
Base Year |
2022 |
|
Forecast Years |
2023 - 2031 |
|
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Transport Mode, Application, Region |
|
Segments Covered |
By Transport Mode, Container Type, End-use Industry, and Region |
|
Forecast Units |
Value (USD Billion), and Volume (Units) |
|
Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031 |
|
Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
|
Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
|
Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
|
Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
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:
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
Segmentations:
By Transport Mode
By Container Type
By End-use Industry
By Region
Asia Pacific
Europe
North America
Middle East and Africa
Latin America
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
