The global modular container market size was valued at USD 26,248.3 million in 2021 and is expected to expand at a CAGR of 7.5% from 2022 to 2030.
Conex boxes, commonly referred to as shipping containers, are cargo containers strong enough to survive handling, storage, and transportation. These containers make it easier to carry commodities by land and water using vehicles like trucks, trains, and/or ships. They are frequently employed to move bulky items or palletized commodities. The primary drivers of demand for the shipping container market around the world include the expanding transportation industry, rising worries about the safety of goods being transported, and rising investments in infrastructure for handling containers.
Containers used for shipping are ones that can carry and transport goods without the need for emptying and reloading at intermediate locations. These containers help in both land- and sea-based transportation of goods, which may involve the use of trucks, trains, or ships. As a result, product multimodal transportation is now more effective. Additionally, renting shipping containers has grown in popularity among companies in a variety of industries because to their cost, convenience, and ease of use for storing a significant volume of goods.
The Modular Container Market – Market Trends
• The expanding demand for environmentally friendly building presents profitable potential for the target market. Manufacturers are refocusing their efforts on creating environmentally friendly, energy-efficient buildings in an effort to reduce pollution and the project’s overall carbon footprint.
• Manufacturers are working harder to create energy-efficient modular containers for a variety of markets, including agricultural, industry, government, manufacturing, education, and retail.
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The Modular Container Market – Segmentation
The Modular Container Market fragrance concentrates market has been sub-classified into type, revenue source, usage, container, size, application.
On the basis of type, the Modular Container Market is bifurcated into:
• Mobile modular containers
• Fixed modular containers
• others
On the basis of revenue, the market is segmented into:
• new product sales
• rental
• others
on the basis of usage, the market is segmented into:
• office container
• sanitary container
• locker container
• showroom containers
• accommodation containers
• storage containers
• others
On the basis of container size, the market segmented into:
• below 10 feet
• 10-20 feet
• 21-40 feet
• Above 40 feet
• Others
On the basis of application, the market segmented into:
• Construction
• Industrial
• Education
• Healthcare
• Automotive
• Others
The Modular Container Market -Regional Analysis
North America dominated the global Modular Container Market, is anticipated to rule the market for the foreseeable future. Due to the tremendous expansion of infrastructure and industries, modular construction is becoming more and more common in the United States. Currently, 4% of the nation’s housing market is made up of modular construction. However, according to industry analysts, modular construction would likely be used in at least half of the future projects over the course of the next three years.
The Modular Container Market – Key Market players
Global key players of Modular Container Market include MODULE-T PREFABRIK SYSTEMS DIS TIC LTD STI; Prefabex; McGrath RentCorp; Prefabricated Modular Steel Structures – MODSTEEL; HENAN K-HOME STEEL STRUCTURE CO., LTD.; Kwikspace; Falcon Structures; Truston; WillScot Mobile Mini Holdings Corp.; PODS Enterprises LLC, and others.
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The Modular Container Market – Growth Factor
The market is anticipated to benefit from the increase in demand from different end users to lower construction costs. Globally, manufacturers are concentrating on creating energy-efficient modular containers that are sustainable. The emphasis on sustainability will keep growing as these certifications demand less pollution and emission impact during project lifecycle. As a result, ecological, low-emission, and user-friendly materials are already being produced for modular containers. Getting the necessary permits to build a modular container-based home can be time-consuming and need additional work because the demand for prefabricated homes is still relatively young. Modular container homes are permitted in a number of states in the US, nevertheless, including Texas, California, Colorado, and Oregon. Construction is hampered by improper permissions or building rules, which has a negative impact on market expansion. The difficulties in obtaining utility authorizations could prevent containers from being used as homes.
Key Questions Answered in This Report
1. What was the size of the global Modular Container Market in 2021?
2. What is the expected growth rate of the global Modular Containerduring 2022-2027?
3. What has been the impact of COVID-19 on the Modular Container ?
4. What are the key factors driving the global Modular Container?
5. What is the breakup of the global Modular Container based on the product?
6. What is the breakup of the global Modular Container based on the container size?
7. What is the breakup of the global Modular Container based on the application?
8. What are the key regions in the global Modular Container?
9. Who are the key players/companies in the global Modular Container ?
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