APAC Shipping Container Market - Opportunities, Size & Growth Projections
The APAC shipping container market was valued at more than $ 4.6 billion in 2019 and is projected to grow at a CAGR of 4.6% in 2026. A shipping container is a container with strength suitable to withstand shipment, storage, and handling. Owing to the factors, such as growing sea-borne trade, and the increasing trend of containerization of goods, a strong demand for shipping containers is anticipated during the forecast period. Furthermore, the availability of large coastal lines and the presence of a majority of global shipping container manufacturers in Asia-Pacific is fueling the demand for shipping containers in the region. Moreover, increasing government initiatives and expansion in untapped markets of Asia-Pacific such as India and Indonesia can unfold various opportunities for the growth of the market in the future. In terms of the size of containers, the APAC shipping container market is categorized into small containers (20 feet), large containers (40 f...