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Rockville, MD, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Expanding at a CAGR of 5.4% from 2023 to 2033, the global dry van containers market is estimated to reach a valuation of US$ 9.6 billion by the end of 2033. This study by Fact.MR, a market research and competitive intelligence provider, reveals that Asian countries such as India, China, and Japan are projected to make APAC the leading regional market for dry van containers.
Rapid industrialization and globalization are the two prime prospects that are anticipated to boost sales of dry van containers in the Asia Pacific region over the next ten years. Supportive government initiatives to boost manufacturing sector growth and expanding population in countries such as China and India are also estimated to increase the number of imports and exports from the region, resulting in high dry van container demand through 2033.
Meanwhile, the North American European regions are estimated to tussle for the second position in terms of share of the global dry van container market across the study period. Increasing adoption of smart containers in these regions is projected to create new opportunities for dry van container companies.
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Key Takeaways from Market Study
- The global dry van container market stands at a valuation of US$ 5.65 billion in 2023.
- Demand for dry van containers is projected to expand at a CAGR of 4% from 2023 to 2033.
- The market is anticipated to reach a size of US$ 9.6 billion by 2033-end.
- Increasing globalization, supportive government initiatives to boost trading activity, growing world population, and increasing demand for imports and exports are set to be prime market drivers.
- High availability of alternative shipping containers is projected to hurt market growth prospects to some extent.
- Asia Pacific accounts ...
