China to Lead APAC Shipping Containers Market through 2024
Growing containerized trade
and rapid industrialization to bolster APAC shipping container market growth
through 2024
According to a report published by TechSci Research on “APAC
Shipping Container Market By Size of Container, By Product Type, By Goods
Transported, By Country, Competition, Forecast & Opportunities, 2024”, APAC shipping container market size
is predicted to reach $ 5.9 billion by 2024, exhibiting a CAGR of 4.6% during
the forecast period. The growth of APAC shipping containers market is majorly
attributable to the improvement in transportation services and growth of
seaborne trade. Moreover, rise in the number of manufacturing facilities in APAC
is further bolstering the growth of APAC shipping containers market.
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APAC Shipping Container Market "
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In terms
of product type, the APAC shipping container market is categorized into dry
storage container, tank container, refrigerated container and others. Dry containers
have been witnessing increasing demand for shipping and logistics across the region
and accounted for maximum market share in the APAC shipping containers market
in 2018. This trend is expected to continue throughout the forecast period as
well, owing to increasing manufacturing and cross-border trade of machinery,
electronics, and electricals products in the region.
On the basis of countries,
the APAC shipping container market is categorized into China, India, Japan,
South Korea, Indonesia, Malaysia and Singapore. Among these, China shipping
containers market accounted for majority share in APAC shipping container
market in 2018 and is anticipated to maintain its dominance during forecast
period as well on account of presence of a large number of shipping container
manufacturers in country. Moreover, reduced labor cost and availability of raw
materials in China are encouraging the manufacturing of shipping containers in
the country, thereby further driving growth of the market.
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“APAC shipping containers market is anticipated
to witness a steady growth over the course of next five years. The growth of
the APAC shipping containers market is majorly due to increasing demand for
highly efficient and superior capacity shipping containers. Moreover, Asian
countries are encouraging inter-Asian trade possibilities by creating trade
barrier liberalization, which is bolstering sea-trade in the region and thereby
having a positive impact on shipping containers market.” said, Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“APAC Shipping Container Market By Size of
Container, By Product Type, By Goods Transported, By Country, Competition,
Forecast & Opportunities, 2024”
has evaluated the future growth potential of the APAC shipping 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 APAC shipping container market.
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TechSci Research
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