PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1126493
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1126493
Shipping Container Modification Market Forecasts to 2028 - Global Analysis by Size (Small container (20 Feet), Large container (40 Feet)), Flooring (Woods, Bamboo, Metal, Vinyl, Others), Application and By Geography
According to Stratistics MRC, the Global Shipping Container Modification Market is accounted for $98011.4million in 2022 and is expected to reach $160788.82million by 2028 growing at a CAGR of 8.6% during the forecast period. A shipping container is a robust container that can withstand handling, storage, and transportation. Shipping containers come in many shapes and sizes, ranging from large, reusable steel boxes used for intermodal goods to common corrugated boxes. For base camp, storage, offices, and commercial use, containers that have been converted for shipping are employed. They are portable, affordable, and easy to install. Modified shipping containers are used to build temporary offices, pop-up bars, cafes, and bathrooms. The global shipping container modification market is growing as a result of the fact that modified shipping containers used for sea transportation provide protection against calamities like earthquakes and tsunamis.
According to statistics provided by the United Nations Conference on Trade and Development (UNCTAD), around 11 billion tons of seaborne trade volume was raised in 2018. Out of which 7.8 billion tons were of the dry cargo trade volume.
Market Dynamics:
Driver:
Less Time Required for Construction
Both new and used shipping containers can be used to build homes and businesses at a reasonable price. Due to their widespread availability and low cost, used shipping containers are frequently used to construct homes and commercial buildings like cafes, restaurants, and relief camps. Additionally, shipping containers are less expensive than other common building materials. Structures made of shipping containers cost around 50% less to build than residences made of regular masonry. In addition, just minimal structural work is required, which cuts down on the amount of time needed to build a shipping container home.
Restraint:
The Infrastructure's Low Lifespan
In order to build prefabricated and custom dwellings, several manufacturers of modified shipping containers use used and outdated shipping containers. There are a lot of old, repurposed shipping containers that are getting close to the end of their functional life. In addition, scrapes or dents from their first use make used containers more prone to quick corrosion. The exterior of modified shipping containers is painted with hazardous chemicals to stop rust and corrosion. The health of people is endangered by these pollutants. As a result, these containers may shorten the useful life of infrastructure, which would restrain the market for modified shipping containers.
Opportunity:
A Shift in Focus towards Affordable Housing Structures
The need for affordable housing is rising as a result of population growth and a lack of suitable land for residential construction. These affordable housing choices do, however, include houses made of shipping containers. Prefabricated container homes are an affordable option that can replace natural resources. Container buildings also cost less to build than conventional residences do. However, because containers are so easy to stack, it is possible to design multistory structures that are both small and efficient. These traits are projected to produce alluring opportunities in developing economies.
Threat:
The slower economic growth in some of the countries
Due to characteristics including price, simplicity, convenience, and the ability to hold a lot of cargo, renting shipping containers has become popular across a range of commercial sectors. The slower market expansion, however, is anticipated to be hampered by some countries' slower economic growth, including China and some European nations.
COVID-19 Impact
The lockdown imposed by governments in several nations caused development efforts to stop wholly or partially. However, throughout the post-lockdown period, the activities resumed. Additionally, there were a number of difficulties, including global shortages of both new and used shipping containers and transportation constraints. The market for shipping container modification significantly declined as routine construction activities came to an end. Demand is anticipated to increase as construction operations pick up steam.
The size segment is expected to be the largest during the forecast period
During the projected period, large containers (40 feet) are anticipated to gain the largest market share. Large constructions are transported between ports using these containers. The total overall weight of large containers should be 30,400 kg, while the tare weight should be 3,750 kg, according to ISO requirements. The market for large containers is growing quickly due to rapid urbanisation, globalisation, and advancements in transportation services. A further factor driving the market for shipping container modifications is the expansion of the logistics and transportation sectors, which increases the demand for shipping containers for warehouse storage.
The construction segment is expected to have the highest CAGR during the forecast period
With a CAGR during the forecast period, the construction segment is anticipated to have the greatest market share. Containers for the construction of tiny homes, restroom, lunchroom, and jobsite storage units are all included in the construction sector. Modified shipping containers that are large, durable, and affordable are used in the construction industry. The need for customised small shipping containers is fueled by the rising focus on adopting affordable housing units and the fact that building a primary on-site shipping container is less expensive than building one in a factory. All of these events are anticipated to fuel the segment's growth.
Region with highest share:
The largest share among the regions is anticipated to belong to North America throughout the forecast period. The demand for the product is anticipated to increase during the forecast period due to an increase in construction-related activities and an increase in housing for single-family and multiplex residences, which is anticipated to contribute to the growth of the shipping container modification market. It is projected that urbanisation and population growth will boost demand in the residential sector, driving the demand for affordable housing. The region's growth is also expected to be aided by a rise in the demand for container infrastructure for home repair and remodelling. The United States also ranks third among the nations with the biggest population, and it is still growing.
Region with highest CAGR:
During the forecast period, Asia-Pacific is anticipated to have the greatest CAGR. As a result of population growth that is exponential, urbanisation is increasing. This is anticipated to have a significant impact on the demand for housing, clean water, energy, transportation infrastructure, food, and social services, leading to a rise in the use of adaptable shipping containers that are more affordable to assure consistent quality. In addition, rising income levels, quick urbanisation and industrialization, growing populations, and rising family income are all expected to contribute to the growth of the construction sector in several countries. Relocatable homes are also portable, thus the demand for emergency shelters and medical facilities made of shipping containers is predicted to drive market growth in disaster-stricken areas and spur the shipping container modification industry's expansion.
Key players in the market
Some of the key players profiled in the Shipping container Modification Market include Wilmot modular structures inc., Container technology inc., Boxman studios, Bmarko structures, llc, Ymc container solutions, Singamas Container Holdings Limited, Cleveland Containers, Falcon Structures, Giant Containers, Bertschi AG, Bulkhaul Limited., NewPort Tank, A.P. Moller - Maersk, COSCO SHIPPING Development Co., Ltd., CXIC GROUP, W&K Containers, IncIWES LTD., Norcomp Nordic AB, Sea Box, Inc., Ebtech Industrial Modular Building Solutions.
Key Developments:
Hydrogenics opened a new facility in California, in October 2018. The facility's primary goal would be the integrate hydrogen fuel cell systems onto heavy duty truck and bus platforms for California customers. Hydrogenics was able to improve its position in the U.S. market due to the establishment of this manufacturing plant.
Plug Power introduced a new plant in March 2019 to expand its hydrogen-based fuel cell line. The ProGen 30kW engine is a cost-effective solution for electric vehicle, with high utilization and reliable performance in severe settings, as well as quick fueling and zero emissions.
SFC Energy entered into a contract with Aurora Hut, Finnish Company, in October 2019. Aurora Hut will include the EFOY fuel cells into its new all season igloo houseboats for highly customized trips under the terms of the deal. In all igloos, the fuel cell provides a fully automated and ecologically beneficial power source.
n 2022, Falcon Structures increased the breadth of its ability to serve the customers with the help of its expanded AC462 shipping container certification, which added 22 new container models to the company's list of AC462 containers.
Size Covered:
- Small container (20 Feet)
- Large container (40 Feet)
Flooring Covered:
- Woods
- Bamboo
- Metal
- Vinyl
- Other floorings
Application Covered:
- Energy and mining
- Construction
- Retail and commercial
- Disaster relief
- Consumer Goods
- Food
- Other Applications
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Application Analysis
- 3.7 Emerging Markets
- 3.8 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Shipping Container Modification Market, By Size
- 5.1 Introduction
- 5.2 Small container (20 Feet)
- 5.3 Large container (40 Feet)
6 Global Shipping Container Modification Market, By Flooring
- 6.1 Introduction
- 6.2 Woods
- 6.3 Bamboo
- 6.4 Metal
- 6.5 Vinyl
- 6.6 Other Floorings
7 Global Shipping Container Modification Market, By Application
- 7.1 Introduction
- 7.2 Energy and mining
- 7.3 Construction
- 7.4 Retail and commercial
- 7.5 Disaster relief
- 7.6 Consumer Goods
- 7.7 Food
- 7.8 Other Applications
8 Global Shipping Container Modification Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 Wilmot modular structures inc.
- 10.2 Container technology inc.
- 10.3 Boxman studios
- 10.4 Bmarko structures, llc
- 10.5 Ymc container solutions
- 10.6 Singamas Container Holdings Limited
- 10.7 Cleveland Containers
- 10.8 Falcon Structures
- 10.9 Giant Containers
- 10.10 Bertschi AG
- 10.11 Bulkhaul Limited.
10.1A2 NewPort Tank
- 10.1 A.P. Moller - Maersk
- 10.14 COSCO SHIPPING Development Co., Ltd.
- 10.15 CXIC GROUP
- 10.16 W&K Containers, Inc
- 10.17 IWES LTD.
- 10.18 Norcomp Nordic AB
- 10.19 Sea Box, Inc.
- 10.20 Ebtech Industrial Modular Building Solutions
List of Tables
- Table 1 Global Shipping Container Modification Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Shipping Container Modification Market Outlook, By Size(2020-2028) ($MN)
- Table 3 Global Shipping Container Modification Market Outlook, By Small container (20 Feet)(2020-2028) ($MN)
- Table 4 Global Shipping Container Modification Market Outlook, By Large container (40 Feet)(2020-2028) ($MN)
- Table 5 Global Shipping Container Modification Market Outlook, By Flooring (2020-2028) ($MN)
- Table 6 Global Shipping Container Modification Market Outlook, By Woods(2020-2028) ($MN)
- Table 7 Global Shipping Container Modification Market Outlook, By Bamboo(2020-2028) ($MN)
- Table 8 Global Shipping Container Modification Market Outlook, By Metal(2020-2028) ($MN)
- Table 9 Global Shipping Container Modification Market Outlook, By Vinyl(2020-2028) ($MN)
- Table 10 Global Shipping Container Modification Market Outlook, By Other Floorings (2020-2028) ($MN)
- Table 11 Global Shipping Container Modification Market Outlook, By Application(2020-2028) ($MN)
- Table 12 Global Shipping Container Modification Market Outlook, By Energy and mining(2020-2028) ($MN)
- Table 13 Global Shipping Container Modification Market Outlook, By Construction(2020-2028) ($MN)
- Table 14 Global Shipping Container Modification Market Outlook, By Retail and commercial(2020-2028) ($MN)
- Table 15 Global Shipping Container Modification Market Outlook, By Disaster relief(2020-2028) ($MN)
- Table 16 Global Shipping Container Modification Market Outlook, By Consumer Goods(2020-2028) ($MN)
- Table 17 Global Shipping Container Modification Market Outlook, By Food(2020-2028) ($MN)
- Table 18 Global Shipping Container Modification Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 19 North America Shipping Container Modification Market Outlook, By Country (2020-2028) ($MN)
- Table 20 North America Shipping Container Modification Market Outlook, By Size(2020-2028) ($MN)
- Table 21 North America Shipping Container Modification Market Outlook, By Small container (20 Feet)(2020-2028) ($MN)
- Table 22 North America Shipping Container Modification Market Outlook, By Large container (40 Feet)(2020-2028) ($MN)
- Table 23 North America Shipping Container Modification Market Outlook, By Flooring (2020-2028) ($MN)
- Table 24 North America Shipping Container Modification Market Outlook, By Woods(2020-2028) ($MN)
- Table 25 North America Shipping Container Modification Market Outlook, By Bamboo(2020-2028) ($MN)
- Table 26 North America Shipping Container Modification Market Outlook, By Metal(2020-2028) ($MN)
- Table 27 North America Shipping Container Modification Market Outlook, By Vinyl(2020-2028) ($MN)
- Table 28 North America Shipping Container Modification Market Outlook, By Other Floorings (2020-2028) ($MN)
- Table 29 North America Shipping Container Modification Market Outlook, By Application(2020-2028) ($MN)
- Table 30 North America Shipping Container Modification Market Outlook, By Energy and mining(2020-2028) ($MN)
- Table 31 North America Shipping Container Modification Market Outlook, By Construction(2020-2028) ($MN)
- Table 32 North America Shipping Container Modification Market Outlook, By Retail and commercial(2020-2028) ($MN)
- Table 33 North America Shipping Container Modification Market Outlook, By Disaster relief(2020-2028) ($MN)
- Table 34 North America Shipping Container Modification Market Outlook, By Consumer Goods(2020-2028) ($MN)
- Table 35 North America Shipping Container Modification Market Outlook, By Food(2020-2028) ($MN)
- Table 36 North America Shipping Container Modification Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 37 Europe Shipping Container Modification Market Outlook, By Country (2020-2028) ($MN)
- Table 38 Europe Shipping Container Modification Market Outlook, By Size(2020-2028) ($MN)
- Table 39 Europe Shipping Container Modification Market Outlook, By Small container (20 Feet)(2020-2028) ($MN)
- Table 40 Europe Shipping Container Modification Market Outlook, By Large container (40 Feet)(2020-2028) ($MN)
- Table 41 Europe Shipping Container Modification Market Outlook, By Flooring (2020-2028) ($MN)
- Table 42 Europe Shipping Container Modification Market Outlook, By Woods(2020-2028) ($MN)
- Table 43 Europe Shipping Container Modification Market Outlook, By Bamboo(2020-2028) ($MN)
- Table 44 Europe Shipping Container Modification Market Outlook, By Metal(2020-2028) ($MN)
- Table 45 Europe Shipping Container Modification Market Outlook, By Vinyl(2020-2028) ($MN)
- Table 46 Europe Shipping Container Modification Market Outlook, By Other Floorings (2020-2028) ($MN)
- Table 47 Europe Shipping Container Modification Market Outlook, By Application(2020-2028) ($MN)
- Table 48 Europe Shipping Container Modification Market Outlook, By Energy and mining(2020-2028) ($MN)
- Table 49 Europe Shipping Container Modification Market Outlook, By Construction(2020-2028) ($MN)
- Table 50 Europe Shipping Container Modification Market Outlook, By Retail and commercial(2020-2028) ($MN)
- Table 51 Europe Shipping Container Modification Market Outlook, By Disaster relief(2020-2028) ($MN)
- Table 52 Europe Shipping Container Modification Market Outlook, By Consumer Goods(2020-2028) ($MN)
- Table 53 Europe Shipping Container Modification Market Outlook, By Food(2020-2028) ($MN)
- Table 54 Europe Shipping Container Modification Market Outlook, ByOther Applications (2020-2028) ($MN)
- Table 55 Asia Pacific Shipping Container Modification Market Outlook, By Country (2020-2028) ($MN)
- Table 56 Asia Pacific Shipping Container Modification Market Outlook, By Size(2020-2028) ($MN)
- Table 57 Asia Pacific Shipping Container Modification Market Outlook, By Small container (20 Feet)(2020-2028) ($MN)
- Table 58 Asia Pacific Shipping Container Modification Market Outlook, By Large container (40 Feet)(2020-2028) ($MN)
- Table 59 Asia Pacific Shipping Container Modification Market Outlook, By Flooring (2020-2028) ($MN)
- Table 60 Asia Pacific Shipping Container Modification Market Outlook, By Woods(2020-2028) ($MN)
- Table 61 Asia Pacific Shipping Container Modification Market Outlook, By Bamboo(2020-2028) ($MN)
- Table 62 Asia Pacific Shipping Container Modification Market Outlook, By Metal(2020-2028) ($MN)
- Table 63 Asia Pacific Shipping Container Modification Market Outlook, By Vinyl(2020-2028) ($MN)
- Table 64 Asia Pacific Shipping Container Modification Market Outlook, By Other Floorings (2020-2028) ($MN)
- Table 65 Asia Pacific Shipping Container Modification Market Outlook, By Application(2020-2028) ($MN)
- Table 66 Asia Pacific Shipping Container Modification Market Outlook, By Energy and mining(2020-2028) ($MN)
- Table 67 Asia Pacific Shipping Container Modification Market Outlook, By Construction(2020-2028) ($MN)
- Table 68 Asia Pacific Shipping Container Modification Market Outlook, By Retail and commercial(2020-2028) ($MN)
- Table 69 Asia Pacific Shipping Container Modification Market Outlook, By Disaster relief(2020-2028) ($MN)
- Table 70 Asia Pacific Shipping Container Modification Market Outlook, By Consumer Goods(2020-2028) ($MN)
- Table 71 Asia Pacific Shipping Container Modification Market Outlook, By Food(2020-2028) ($MN)
- Table 72 Asia Pacific Shipping Container Modification Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 73 South America Shipping Container Modification Market Outlook, By Country (2020-2028) ($MN)
- Table 74 South America Shipping Container Modification Market Outlook, By Size(2020-2028) ($MN)
- Table 75 South America Shipping Container Modification Market Outlook, By Small container (20 Feet)(2020-2028) ($MN)
- Table 76 South America Shipping Container Modification Market Outlook, By Large container (40 Feet)(2020-2028) ($MN)
- Table 77 South America Shipping Container Modification Market Outlook, By Flooring (2020-2028) ($MN)
- Table 78 South America Shipping Container Modification Market Outlook, By Woods(2020-2028) ($MN)
- Table 79 South America Shipping Container Modification Market Outlook, By Bamboo(2020-2028) ($MN)
- Table 80 South America Shipping Container Modification Market Outlook, By Metal(2020-2028) ($MN)
- Table 81 South America Shipping Container Modification Market Outlook, By Vinyl(2020-2028) ($MN)
- Table 82 South America Shipping Container Modification Market Outlook, By Other Floorings (2020-2028) ($MN)
- Table 83 South America Shipping Container Modification Market Outlook, By Application(2020-2028) ($MN)
- Table 84 South America Shipping Container Modification Market Outlook, By Energy and mining(2020-2028) ($MN)
- Table 85 South America Shipping Container Modification Market Outlook, By Construction(2020-2028) ($MN)
- Table 86 South America Shipping Container Modification Market Outlook, By Retail and commercial(2020-2028) ($MN)
- Table 87 South America Shipping Container Modification Market Outlook, By Disaster relief(2020-2028) ($MN)
- Table 88 South America Shipping Container Modification Market Outlook, By Consumer Goods(2020-2028) ($MN)
- Table 89 South America Shipping Container Modification Market Outlook, By Food(2020-2028) ($MN)
- Table 90 South America Shipping Container Modification Market Outlook, By Other Applications (2020-2028) ($MN)
- Table 91 Middle East & Africa Shipping Container Modification Market Outlook, By Country (2020-2028) ($MN)
- Table 92 Middle East & Africa Shipping Container Modification Market Outlook, By Size(2020-2028) ($MN)
- Table 93 Middle East & Africa Shipping Container Modification Market Outlook, By Small container (20 Feet)(2020-2028) ($MN)
- Table 94 Middle East & Africa Shipping Container Modification Market Outlook, By Large container (40 Feet)(2020-2028) ($MN)
- Table 95 Middle East & Africa Shipping Container Modification Market Outlook, By Flooring (2020-2028) ($MN)
- Table 96 Middle East & Africa Shipping Container Modification Market Outlook, By Woods(2020-2028) ($MN)
- Table 97 Middle East & Africa Shipping Container Modification Market Outlook, By Bamboo(2020-2028) ($MN)
- Table 98 Middle East & Africa Shipping Container Modification Market Outlook, By Metal(2020-2028) ($MN)
- Table 99 Middle East & Africa Shipping Container Modification Market Outlook, By Vinyl(2020-2028) ($MN)
- Table 100 Middle East & Africa Shipping Container Modification Market Outlook, By Other Floorings (2020-2028) ($MN)
- Table 101 Middle East & Africa Shipping Container Modification Market Outlook, By Application(2020-2028) ($MN)
- Table 102 Middle East & Africa Shipping Container Modification Market Outlook, By Energy and mining(2020-2028) ($MN)
- Table 103 Middle East & Africa Shipping Container Modification Market Outlook, By Construction(2020-2028) ($MN)
- Table 104 Middle East & Africa Shipping Container Modification Market Outlook, By Retail and commercial(2020-2028) ($MN)
- Table 105 Middle East & Africa Shipping Container Modification Market Outlook, By Disaster relief(2020-2028) ($MN)
- Table 106 Middle East & Africa Shipping Container Modification Market Outlook, By Consumer Goods(2020-2028) ($MN)
- Table 107 Middle East & Africa Shipping Container Modification Market Outlook, By Food(2020-2028) ($MN)
- Table 108 Middle East & Africa Shipping Container Modification Market Outlook, By Other Applications (2020-2028) ($MN)
