China International Marine Containers to Lead Global ISO Modal Container Market through 2023
Increasing demand for LNG coupled with growing industrialization to boost global ISO modal containers market through 2023
According to recently published TechSci Research report “Global ISO Modal Container Market, By Type, By Application, By Transport, By Region, Competition Forecast & Opportunities, 2013 - 2023’’, the global ISO modal container market is projected to reach $ 2.6 billion by 2023 on account of increasing use of flexible ISO modal containers for small-scale LNG transportation coupled with growing steel industry and refinery throughput. Moreover, governments of various major economies are taking initiatives towards adoption of clean fuel, which is likely to positively influence global ISO modal container market in the coming years. Additionally, technological advancements such as use of Hi-tech lift technology and articulated inter-modal rail cars for avoiding physical damage during operations are further likely to steer growth in the market over the coming years. China International Marine Containers Ltd. (CIMC) grabbed the largest market share in global ISO modal container market in 2017, and the company is likely to maintain its dominance through 2023 as well. Other leading market players include CXIC Group Containers Company Limited, Chart Industries Inc., Nantong Tank Container Co. Ltd, and Air Water Plant & Engineering Inc., among others.
Browse 201 market data Figures and Tables spread through 166 Pages and an in-depth TOC on "Global ISO Modal Container Market"
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Among types, the global ISO modal container market is dominated by Type–II segment as this type of ISO modal container can be used by both road and ship transportation mode. In 2017, LNG accounted for the largest application share in value terms in the global ISO modal container market, and the application segment is likely to maintain its dominance throughout the forecast period due to various initiatives taken by different country governments to encourage use of cleaner fuels. A large demand for ISO modal containers emanates from Asia-Pacific region on the back of presence of major global economies such as China, Japan and India.
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“As per Shell LNG Statistics, in 2017, the global LNG imports stood at around 393 BCM and they are expected to reach 800 BCM by 2035. This is due to the growing number of government initiatives to encourage use of cleaner fuel, lower operational costs and increase in LNG imports from Qatar, Australia, Russia and the US. Moreover, growing implementation of automated freight transport technologies, globally, coupled with rising use of intermodal container transport to get carbon credit as it emits 65% lesser greenhouse gases compared to truck transportation, would further steer growth in the global ISO modal container market during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global ISO Modal Container Market, By Type, By Application, By Transport, By Region, Competition Forecast & Opportunities, 2013 - 2023” has evaluated the future growth potential of global ISO modal container market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global ISO modal container market.
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