Dry van containers are general purpose containers that are utilized for shipment of goods and products. They are extensively employed in logistics and cargo shipment industries. They are available in a wide range of sizes, volumes, and capacities owing to their applications. In the automotive industry, the dry van container is used to transfer an automobile and its components from one place to another without causing damage to the product. Apart from marine cargo, the dry van container can also be attached to trucks, thereby providing ease in shipment of products and goods from one place to another.
Rise in trade policies and regulations around the world is projected to boost the adoption of dry van containers in order to fulfill the demand and timeline of trade. This is a key reason that is expected to the augment the dry van container market during the forecast period. Increase in demand-supply scenario of manufacturing and construction industries across the globe is likely to propel the demand for dry van containers.
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This is because the dry van container is the most commonly used container and is an integral part of the shipment industry. This, in turn, is anticipated to drive the dry van container market during the forecast period. Furthermore, the dry van container is available in various dimensions and is a reusable container, which is estimated to boost the market during the forecast period. However, higher cost of the container coupled with easy availability of other storage containers, such as flat track containers and tunnel containers, are projected to hamper the dry van container market during the forecast period. Additionally, increase in number of lease and rent services of containers for logistics and shipment industries is likely to offer lucrative opportunities to the dry van container market during the forecast period.
The global dry van container market can segmented based on dimension, ownership, application, and region. Based on dimension, the dry van container market can be spilt into 20 feet, 40 feet, and others. Among dimension, the 20 feet segment accounts for a prominent share of the market. This is due to extensive usage of 20 feet containers to transport and store general cargo.
In terms of ownership, the dry van container market can be divided into personal and lease service. Lease service is a rapidly expanding segment of the dry van container market. This is primarily attributed to the higher cost of the dry van container. Lease service offers a contract between the owner and the user. This is likely to fuel the dry van container market during the forecast period.
In terms of application, the dry van container market can be bifurcated into automotive, cargo shipment, transportation and logistics, aviation, and others. The cargo shipment segment leads the dry van container market and is projected to remain a dominant segment during the forecast period. Rise in trade across regions is a major factor boosting the segment of the market, since it offers transfer of products and goods at an economical rate.
Based on region, the dry van container market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific leads the global dry van container market. Massive trading in the region via the sea route by countries such as China, India, Japan, Australia, and South Korea, is a major factor driving the adoption of dry van containers in the region. Furthermore, the establishment of new trade policies and standards are likely to boost the dry van container market in the region. Progression and expansion of construction, logistics, automotive, and other manufacturing industries in the region are also anticipated to boost the adoption of dry van containers in Asia Pacific region during the forecast period.
Major players operating in the global dry van container market include ZIM Integrated Shipping Services Ltd., China International Marine Containers Co., Ltd., Alconet Containers, LOTUS Containers, Singamas Container Holdings Limited., Maritime Cargo Services, Aqua Air Enterprises, The Maersk Group, and Hapag-Lloyd AG.
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