SOC Containers Market Size, Share, Trends, Growth, and Industry Analysis, By Size (20 Containers, 40 Containers, High Cube Containers, Others), By Application (Consumer Goods Transport, Industrial Transport, Food Transport, Others), By End-Use (Oil & Gas, Wind Energy, Marine, Other Industries), Regional Insights and Forecast to 2031
global SOC containers market size was USD 1.80 billion in 2022 and market reach USD 5.72 billion in 2031, exhibiting at CAGR of 10.6% during the forecast period.
SOC stands for 'shipper-owned container' and is a metal freight shipping container that is owned by an individual or business and used to ship cargo across long distances. The SOC (shipper-owned container) containers market refers to the industry that involves the conversion of shipping containers into various functional units such as accommodation units, offices, and workshops for use in offshore and remote locations. This type of conversion is done to provide a cost-effective and quick solution for the accommodation needs of offshore workers. SOC containers have been gaining popularity in the offshore oil & gas, wind energy, and marine industries.
The increasing use of renewable energy sources such as wind energy is also driving the growth of the SOC container market. As wind energy projects are located in remote areas, SOC containers are a cost-effective solution for providing accommodation for workers.
The growth of the offshore oil & gas industry is also a significant factor driving the growth of the SOC 'shipper-owned container' container market. The increasing number of offshore oil & gas exploration and production activities has led to a growing demand for accommodation solutions for workers. SOC containers provide an efficient and cost-effective solution for this need. The increasing population and urbanization, as well as the need for year-round production of fresh produce, are also driving the growth for SOC Container Market.
COVID-19 Impact
The COVID-19 pandemic has had a grave impact on the SOC container market. The outbreak has led to a slowdown in offshore exploration and production activities, which in turn has affected demand for SOC containers. The lockdowns and travel restrictions imposed by governments around the world have led to a slowdown in exploration and production activities, affecting demand for SOC containers. The decrease in oil prices has also impacted the demand for SOC containers in the oil and gas industry.
Additionally, the pandemic has disrupted supply chains, leading to delays in the delivery of SOC containers. The shortage of raw materials and components, as well as the reduced capacity of manufacturers, has also impacted the production of SOC containers. The pandemic has also affected wind energy industry, leading to delays in the construction and commissioning of wind energy projects. This also affected the demand for SOC containers in the wind energy sector.
The COVID-19 has had a negative impact on the SOC container market, leading to a slowdown in the demand for SOC containers and disruptions in the supply chain. However, it is important to note that the market is expected to recover as the world economies recover from the pandemic and exploration and production activities resume.
REPORT SCOPE & SEGMENTATION:
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Report Attribute |
Details |
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Projected Market Value (2031) |
5.72 billion |
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Estimated Market Value (2022) |
1.80 billion |
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Base Year |
2022 |
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Forecast Years |
2023 - 2031 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Application, Size and Region |
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Segments Covered |
By Size, By Application and Region |
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Forecast Units |
Value (USD Billion), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031 |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
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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 |
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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. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Segment Analysis
The SOC container market is segmented by application, end-use, and region. By application, the market is segmented into accommodations, offices, and workshops. By end-use, the market is segmented into oil and gas, wind energy, marine, and other industries. By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
By Size, the market is segmented into:
SOC containers can also be modified to create larger and more complex structures, such as:
By Application, the market is segmented into:
By End-use, the market is segmented into:
By Geography, the market is segmented into:
The SOC container market is expected to grow at a CAGR of 10.6% during the forecast period from 2023 to 2031, driven by the increasing exploration and production activities and the growing demand for cost-effective and quick accommodation solutions for offshore workers.
Regional Analysis
North America is expected to contribute to the global SOC container market, due to the presence of a large number of oil and gas and wind energy companies in the region. Europe is also expected to witness significant growth in the SOC container market, due to the increasing exploration and production activities and the growing demand for cost-effective and quick accommodation solutions for workers.
The Asia-Pacific region is also expected to witness significant growth in the SOC containers market, due to the increasing exploration and production activities, particularly in China, Australia, and India. The increasing adoption of renewable energy sources such as wind energy in the region is also driving the market growth.
The market in Europe is driven by the increasing exploration and production activities and the growing demand for cost-effective and quick accommodation solutions for workers in the region.
The SOC containers market is a growing industry, with a lot of potential for future growth and development. The increasing exploration and production activities and the growing demand for cost-effective and quick accommodation solutions for workers are expected to drive the market growth in the coming years.
Competitive Landscape
The major key players in the SOC market include:
These companies are involved in the leasing, manufacturing, and management of shipper-owned containers. They have a large market share and are well-established in the industry. They offer a wide range of services and solutions to support the use of shipper-owned containers, such as container management, leasing, and maintenance services. They offer a wide range of services and solutions to support the use of shipper-owned containers, such as container management, leasing, and maintenance services. These companies work closely with shipping companies and logistics providers to ensure that their containers meet the demands of the market and are in good condition. These companies have a strong reputation in the industry and are well recognised as reliable partners in supply chain management.
Recent developments in the SOC Container market include:
Global SOC Containers Market, Segmentations
Based on Size
Based on Application
Based on End-Use
Global SOC Containers Market, Regional Outlook
Research Methodology
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Data Collection
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Primary Research
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Secondary Research
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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
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Quality Checking & Final Review
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