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What is the shipping container market?

The shipping container market is the backbone of global trade, moving over 90% of the world’s goods. As an industry player, keeping your finger on the pulse when it comes to container prices, market trends, and predictions is essential. Read this blog for a full update. How big is the shipping container market?

How will the container market grow in 2024 & 2025?

The container market is predicted to expand by 3-4% in both 2024 and 2025, and is currently valued at over US $10.2 billion. However, despite strong industry growth and a promising forecast over the next 7 years, a lack of transparency between players means that sourcing affordable containers from reliable suppliers is still a major challenge.

How will container market value change over the next 7 years?

Here, the upward trend in market value over the next 7 years is evident. In terms of container volume, we can expect an annual growth rate of 3.6-3.8% over the next two years. This is a huge jump from 2023, when the growth rate remained below 0.5%.

What is the future outlook for shipping containers?

A CAGR of 4.1% is predicted over this period (2023–2031). The forecast suggests a healthy upward trend over the next 7 years, with a consistent increase in market value year over year. This means we can expect an increasing demand for shipping containers, driven by ever-expanding global trade.

How much does a 20ft shipping container cost?

The 20ft shipping container is one of the most common container types in the market. They’re easy to stack on vessels and cheaper to ship than larger containers. For a cargo-worthy 20ft container in Los Angeles, you’ll shell out just US $1,340, in New York, US $1,277 and in Long Beach, US $1,393.

How much does a 40ft container cost?

The 40ft has double the capacity of the 20ft, but is usually only 20-30% more expensive. So if you’ve got larger cargo volumes, one 40ft will work out much cheaper than 20ft units. See for yourself. For a 40ft dry container in Los Angeles, you’ll pay US $1,496, in New York, US $1,291 and in Long Beach, US $1,372.