Dry Van Container Market
Dry Van Container Market Analysis By Container Size (Dry Van 20 ft., Dry Van 40 ft., Dry Van 40 ft. High Cube), By Material (Steel, Aluminium), By Application (Sea Transport, Land Transport, Intermodal Transport), By End-use Industry (Chemicals, Pharmaceuticals, Food & Beverages, Electronics, Automotive) and Region - Global Market Insights 2023 to 2033
Analysis of Dry Van Container Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Dry Van Container Market Outlook (2023 to 2033)
Worldwide sales of dry van containers at estimated at US$ 5.65 billion in 2023 and are forecasted to climb to US$ 9.6 billion by the end of 2033. Over the next ten years (2023 to 2033), the global dry van container market has been forecasted to expand steadily at 5.4% CAGR.
Dry van containers are those that can carry and transport a wide variety of dry products without the need for special cooling or other type of equipment. Globalization is projected to play a crucial role in augmenting the demand for dry van containers around the world.
Reasons Why Logistics and Trading Companies Prefer Dry Van Containers
- Versatility
- Affordability
- Theft protection
- External environment protection
- Freight consolidation
- Multi-modal
Growing international trade operations and evolving demand and supply patterns are projected to chart a new trajectory of growth for dry van container shipping in the future. The increasing proliferation of technology in the shipping and logistics industry has resulted in high demand for smart containers, which allow real-time tracking and monitoring of the shipment to better control supply chains.
- Considering the rapid hike in the popularity of smart containers, they are estimated to account for more than 25% of the global dry van container market share in five years.
Apart from being perfect for sea transport, dry van containers are perfect for road and other types of transport modes as well, which is another prospect that is slated to bolster their demand in the long run.
On the flip side, the high dry van container prices and the growing availability of other storage containers such as tunnel containers, flat track containers, etc. are predicted to be key restraints for overall market development through 2033.
| Report Attributes | Details |
|---|---|
| Dry Van Container Market Size (2023) | US$ 5.65 Billion |
| Projected Market Value (2033F) | US$ 9.6 Billion |
| Global Market Growth Rate (2023 to 2033) | 5.4% CAGR |
| North America Market Share (2023) | 30% |
| Asia Pacific Market Share (2023) | 40% |
| Key Companies Profiled |
|
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How Can Start-ups Change the Dry Van Container Industry Landscape?
“Integration of Advanced Technologies to Create Smart Containers”
New companies are focusing on improving the tracking and tracing capabilities of containers to fit into the automated supply chain and logistics infrastructure that is being developed to optimize the industry. Growing focus on adding the sustainability aspect to the shipping and logistics industry is motivating start-ups to use advanced technologies such as IoT, telematics, and smart sensors to create smart containers.
- In April 2023, Aeler Technologies SA, a start-up based in Switzerland, signed a commercial representation agreement with Navex, a Portuguese shipping company, and unveiled Aeler’s Unit One glass fiber shipping container at an event in Porto, Portugal.
Dry van container repair and dry van container maintenance are also some areas where new companies can focus on and boost their revenue generation as not many vendors are focusing on these aspects. Start-ups can benefit by learning more about aspects such as local supply, pricing trends, product standards, safety regulations, and new developments that have been discussed extensively in this dry van container industry study by skilled analysts at Fact.MR, a market research and competitive intelligence provider.
Country-wise Insights
Asian countries such as China, India, Japan, and Indonesia are projected to emerge as highly rewarding markets in the APAC region, which currently accounts for 2/5 of global dry van container sales. Germany, France, Canada, and the United States are other key markets to watch out for going forward.
How Opportune is the United States Market for Dry Van Container Manufacturers?
“Growing Popularity of Dry Van Container Rental and Leasing”
The United States is an economic giant with the power of influencing the way the world works and this can majorly be attributed to its trade activity. The country is known for the import and export of several commodities and products that make it an elemental cog in the global trade machine.
The country is home to prominent dry van container leasing and rental companies, which is projected to create new opportunities for established as well as new dry van container brokers and dry van container dealers through 2033.
- At present, demand for dry van containers in the North American region accounts for 30% share of the global market.
Moreover, rapid adoption and integration of smart technologies to automate and optimize supply chains is also estimated to offer a lucrative growth scope for dry van container companies in the future.
Why are Dry Van Container Providers Focusing on Asian Countries?
“China and India Manufacturing Hubs in APAC”
China and India have been leading the manufacturing charge in the Asia Pacific region for quite a while now and this dominance is projected to be prevalent across the forecast period. Low costs of manufacturing, high availability of cheap labour, low-cost raw materials, and supportive government initiatives to boost manufacturing sector growth are factors that create an opportune business scenario for dry van container vendors in China and India.
- China and India lead the APAC regional market, which accounts for 40% of the global market share in 2023.
Increasing population in Asian countries is also projected to directly have an impact on the number of imports in these countries, which in turn, is anticipated to favour dry van container sales going forward. Similarly, rising exports from these countries are also anticipated to aid market development.
Which European Countries Account for High Dry Van Container Demand?
“Germany and France Prime European Markets”
Germany is home to some of the most prominent automotive companies in the world. The use of shipping containers to transport vehicles and vehicle components in the country is projected to boost sales of dry van containers over the next ten years. Increasing industrialization and growing support of the government to boost trade activity are also estimated to create new opportunities for dry van container companies in the future
On the other hand, the rising exports of automotive components, agricultural products, and fashion accessories from France are projected to promote the uptake of dry van containers going forward. High imports of different consumer goods into the country are also forecasted to bolster dry van container sales through 2033.
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Category-wise Insights
Dry van container manufacturers make most of their containers from steel and a majority of them end up being used for sea transport.
Which Material are Most Dry Van Containers Made From?
“Steel Estimated to Remain Preferred Choice for Dry Van Container Manufacturing”
Based on material, the market is segmented into steel, aluminium, and others.
High durability and low costs as compared to other materials make steel a highly attractive material in the eyes of dry van container manufacturers. Preference for Corten steel is high in the production of dry van containers owing to its weldable and rust-resistant properties. However, high strength, corrosion resistance, magnetic resistance, high elasticity and malleability, and low weight characteristics are convincing dry van container companies to opt for aluminium for container manufacturing in the future.
Where Will Majority of Dry Van Containers Be Used?
“Sea Transport Accounts for Most Usage of Dry Van Containers”
Based on application, the dry van container market is segmented into sea transport, land transport, and intermodal transport.
A majority of containers used for sea freight transport are dry van containers and increasing emphasis on sea trade owing to its cost-effective nature allows sea transport to offer attractive opportunities for dry van container suppliers in the long run. The design of dry van containers is such that it doesn’t allow the goods to be affected by sunlight, humidity, water, or any other external stimuli, which makes it highly desirable for long-distance travels on a ship without much need for upkeep and maintenance.
Competitive Landscape
Top-tier dry van container companies are projected to focus on the smart logistics trend and make their containers smart with the integration of technologies such as telematics, IoT, etc. Efforts to improve sustainability and enable better tracking of shipments through the supply chain are anticipated to crucially shape the future of dry van container suppliers in the long run.
- In February 2023, Ocean Network Express (ONE), a leading name in the container shipping industry, announced its plans to develop a smart container solution in collaboration with Sony Network Communications Europe. ONE has plans to integrate this solution for its global fleet and step into the era of smart logistics.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Key Segments of Dry Van Container Industry Research
-
By Container Size :
- Dry Van 20 ft.
- Dry Van 40 ft.
- Dry Van 40 ft. High Cube
- Others
-
By Material :
- Steel
- Aluminium
- Others
-
By Application :
- Sea Transport
- Land Transport
- Intermodal Transport
-
By End-use Industry :
- Chemicals
- Pharmaceuticals
- Food & Beverages
- Electronics
- Automotive
- Others
-
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
- FAQs -
The global dry van container market is valued at US$ 5.65 billion in 2023.
By 2033-end, dry van container sales are expected to reach US$ 9.6 billion.
Dry van container sales are projected to rise at 5.4% CAGR from 2023 to 2033.
Sales of dry van containers are set to be led by Asia Pacific, which currently accounts for 40% share of the global industry.
Sea transport is projected to lead the demand for dry van containers through 2033.
W&K Containers Inc., Sea Box Inc. A.P., Moller–Maersk A/S, and CIMC Group are renowned companies in the industry.
Dry Van Container Market
*Mail attachment includes 121 figures & 90 tables