Middle East and Africa Shipping Container Market Analysis
In 2023, the Middle East and Africa shipping container market was valued at approximately USD 70.74 million and is anticipated to expand at a compound annual growth rate (CAGR) of 4.50% over the forecast period.
Market Overview:
Shipping containers are standardized, reusable steel boxes used for the transport and storage of goods within a logistics system. They are essential for the movement of products and raw materials across different locations and countries.
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Market Dynamics:
The growing use of containerized shipping is driving market growth due to its cost-effectiveness compared to other transportation methods. The rise in the number and capacity of container ships is also fueling demand for shipping containers. Additionally, increased manufacturing of container ships and the adoption of IoT technologies by major shipping companies are enhancing data collection during transport, which helps in reducing downtime and optimizing procedures, thus boosting operational efficiency in the maritime sector.
However, rising steel prices and freight rates may pose challenges to market growth. For example, steel prices in India increased from 45,500 INR per metric ton in October 2020 to 50,200 INR per metric ton in August 2021. Government tax reforms and increasing fuel prices are also impacting freight rates. Despite these challenges, the development of customized and special-purpose containers presents significant growth opportunities. Moreover, consolidation in the Middle East and Africa market could potentially affect the global shipping container market’s growth during the forecast period.
Segment Analysis:
In terms of type, the market is divided into Dry Storage Containers, Flat Rack Containers, Open Top Containers, Refrigerated Containers, Insulated Containers, and Special Purpose Containers. Dry Storage Containers currently hold the largest market share, accounting for 42% in 2023. They are expected to continue growing due to their high strength, corrosion resistance, magnetic resistance, elasticity, malleability, and lightweight properties, which drive their demand in the Middle East and Africa shipping container market.
By Size
20 feet
40 feet
Others
By Type
Dry Storage Container
Flat Rack Container
Open Top Container
Refrigerated Container
Insulated or thermal Container
Special Purpose Container
By Geography
South Africa
Ethiopia
Saudi Arabia
UAE
Rest of the Middle East & Africa
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Middle East and Africa Shipping Container Market Key Players:
Stella Shipping (PTY) Ltd
Land and Sea Shipping
Freight Factory
MSC- Mediterranean Shipping
GAC Saudi Arabia (AGSC)
Key questions answered in the Middle East and Africa Shipping Container Market are:
- What is Middle East and Africa Shipping Container?
- What was the Middle East and Africa Shipping Container market size in 2023?
- What is the growth rate of the Middle East and Africa Shipping Container Market?
- Which are the factors expected to drive the Middle East and Africa Shipping Container market growth?
- What are the different segments of the Middle East and Africa Shipping Container Market?
- What growth strategies are the players considering to increase their presence in Middle East and Africa Shipping Container?
- What are the upcoming industry applications and trends for the Middle East and Africa Shipping Container Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Middle East and Africa Shipping Container Market?
- What segments are covered in the Middle East and Africa Shipping Container Market?
- Who are the leading companies and what are their portfolios in Middle East and Africa Shipping Container Market?
- What segments are covered in the Middle East and Africa Shipping Container Market?
- Who are the key players in the Middle East and Africa Shipping Container market?
For a detailed overview of this study, click here:https://www.stellarmr.com/report/MEA-Shipping-Container-Market/983
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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