The Indian container market is expected to show a steady growth of 2% due to an increase in ocean shipping due to an increase in trade agreements between countries | UnivDatos market insights

NOIDA, India, Nov. 30, 2022 /PRNewswire/ — According to a new report published by UnivDatos Markets Insights, the Indian container market is expected to be worth USD 10 billion by 2028 and grow at a CAGR of approximately 2% from 2022 -2028 . The analysis is segmented into Product (20 feet, 40 feet, and 45 feet); End use (food and beverage, consumer goods, industrial goods, healthcare and others).

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India Container Market: Current Analysis and Forecast (2022-2028)

The Containers market report has been compiled by gathering informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report uses several analyzes to take a closer look at the container market. The Container market report offers a detailed analysis of the latest industry developments and trending factors in the market influencing the market growth. In addition, this statistical market research repository examines and estimates the container market at the level of India.

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Market overview

The Indian container market is growing significantly, mainly due to the various policy reforms that are strengthening the container trade against the global slowdown. Improving transshipment numbers in Indian ports, direct port delivery (DPD), direct port entry (DPE), increase in Authorized Economic Operators (AEOs), port community systems (PCS), digitization and automation of cargo movement through port ports, etc. are some of the key areas for improvement, with specifically helping the market move towards an uptrend. In addition, the healthy competition between major and private ports ensures that container volume growth in each port is improving on an annual basis, creating opportunities in the Indian container market.

The Indian container market is expected to grow steadily at a rate of around 2% over the forecast period (2022-2028). Rising demand for fish and meat has increased the commercial farming of fish and livestock in India over the years, escalating India’s overall exports. Significant developments in commercial ships and innovation of cargo ships equipped with the latest technologies such as navigation systems, advanced sensors and other components are expected to boost the demand for shipborne transportation, which in turn will drive the growth of the container market.

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Some of the major players in the market include Hyundai Ltd., AP Moller and Maersk, COSCO Shipping Development Co., Ltd., China International Marine Container (Group) Ltd., CXIC Group, Singapores Container Holdings Limited, Hapag-Lloyd AG, Evergreen Marine Corporation, MSC Mediterranean Shipping Company SA and Yang Ming.

COVID-19 impact

Due to the outbreak of COVID-19, economic activities in India have declined. It is mainly due to the impact of the coronavirus in major consumption centers such as the US and Europe that forced the carriers/alliances to suspend many services. In addition, many sailings were blanched during this period. Moreover, the impact was prominent as India is on the main Asia-Europe route. According to the India container report 2020, a total of 34 sailings were missed at JNPT in the second quarter of 2020.

The India Containers market report has been thoroughly studied with various aspects that would help stakeholders in making their decisions.

Based on the product, the container market is classified into 20 feet, 40 feet, and 45 feet. The 40-foot segment serves a substantial portion of the market. Factors such as increased durability and large space offered by 40-foot containers contribute to their high acceptance in various applications. In addition, India has become the fastest growing economy in the world over the past five years thanks to rising demand for consumer goods and services.

Based on end use, the container market has been segmented into food and beverage, consumer goods, industrial goods, healthcare, and others. The food and beverage segment serves a significant portion of the market. Perishable foods and drinks spoil quickly when exposed to humidity or extreme temperatures. Reefer containers play a vital role in the transportation of perishable foods, as they provide exceptional storage space for refrigeration, are easy to transport and can be placed in many locations. As a result, increasing trade in agricultural products and processed foods is expected to drive demand for containers in the food & beverage segment in the coming years.

The major players targeting the market include

Hyundai Ltd.

AP Moller and Maersk

COSCO Shipping Development Co., Ltd.

China International Sea Container (Group) Ltd.

CXIC group

Singapore Container Holdings Limited

Hapag-Lloyd AG

Evergreen Marine Corporation

MSC Mediterranean Shipping Company SA

Yang Ming

Competitive landscape

The degree of competition between prominent Indian companies has been elaborated through analysis of several leading key players operating globally. The specialized team of research analysts sheds light on various characteristics such as competition in the Indian market, market share, latest developments in the industry, innovative product launches, partnerships, mergers or acquisitions by leading companies in the Indian container market. The major players have been analyzed using research methods to understand the competition in India.

The key questions resolved through this analytical market research report include:

What are the latest trends, new patterns, and technological advancements in Containers market?

What factors are impacting the Container market during the forecast period?

What Are the India Challenges, Threats and Risks in the Container Market?

What factors are driving and restraining the Container market?

What are the demanding Indian regions of the container market?

What will India’s market size be in the coming years?

What are the crucial market acquisition strategies and policies adopted by Indian companies?

We understand the requirements of different companies, regions and countries, we provide customized reports according to your requirements of business nature and geography. Let us know if you have any custom needs.

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Market report on India container market

Report attribute

Details

Base year

2021

Forecast period

2022-2028

Growth momentum

Accelerate at a CAGR of about 2%

Market size 2028

10 billion dollars

Companies profiled

Hyundai Ltd., AP Moller and Maersk, COSCO Shipping Development Co., Ltd., China International Marine Container (Group) Ltd., CXIC Group, Singapores Container Holdings Limited, Hapag-Lloyd AG, Evergreen Marine Corporation, MSC Mediterranean Shipping Company SA , and Yang Ming

Report reach

Market trends, drivers and constraints; Income Estimation and Forecast; Segmentation analysis; Consequences of COVID-19; Analysis of demand and supply side; Competitive landscape; Company profiling

Segments covered

Per product and per end use

About UnivDatos Market Insights (UMI)

UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence reports, custom business research and primary research. Our research spans topics around the world, covering markets in over 100 countries using smart research techniques and flexible methodologies. We provide in-depth studies, detailed analysis and tailored reports that help shape winning business strategies for our clients.

Contact

UnivDatos Market Insights Ankita GuptaDirector OperationsPh: +91-7838604911Email: [email protected]: https://univdatos.com/

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