14-Feb-2023 | Facts and Factors
According to Facts and Factors, the global ISO tank container market size was worth around USD 210.2 million in 2021 and is predicted to grow to around USD 325.32 million by 2030 with a compound annual growth rate (CAGR) of roughly 5.1% between 2022 and 2030.
International Organization for Standardization (ISO) is an organization that works to establish international standards, which can be considered and used across the world. ISO tank containers are designed keeping in view the requirements laid down by the ISO in terms of universal features and physical dimensions of containers that carry liquid products including hazardous and non-hazardous substances. ISO tank containers are used in intermodal transportation where the liquid is filled in the container near the source and then transported worldwide in the same container, which is generally made of stainless steel. These types of containers are extremely effective because they are standard in size and dimensions.
Browse the full “ISO Tank Container Market Size, Share, Growth Analysis Report By Application (Food & Beverages, Petrochemicals, Pharmaceuticals, Chemicals, and Others), By Mode of Transportation (Marine, Rail, and Road), By Type (Lined Tank, Multi-Compartment Tank, Cryogenic and Gas Tank, Reefer Tank, and Swap Body Tank), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" report at https://www.fnfresearch.com/iso-tank-container-market
Furthermore, since all ISO tank containers have the same mechanically stable frames along with similar measures of locking them with common connections, the associated equipment like cranes and other handling materials can be securely fastened to the container for quick movement.
The global ISO tank container market is projected to grow owing to the several benefits of using this type. The primary results can be seen in the overall reduction of product handling and shipping costs. ISO tank containers can efficiently accommodate liquid items that are smaller than truckloads and shiploads. The containers are not limited to only certain methods of shipping and can be efficiently shipped either through waterways or railways. They can even be dispatched using an airway, which is something that cannot be achieved using contemporary shipping tanks.
Additionally, since ISO tank containers are internationally approved, they are a better investment for businesses operating in the segment since they do not have to worry about necessary approval across the shipping nations. Manufacturers of ISO tank containers prioritize structural reinforcement, crash protection, and environmental safety so that they can create an enhanced consumer experience. The ISO tank container industry is also projected to grow due to the flexibility offered by these containers since they are the most suitable for intermodal transportation which the market players can leverage for their own benefits in terms of cost reduction.
In cases where the containers are designed keeping only certain commodities in view, the applications of the containers become greatly limited which can reduce the overall cost-effectiveness of the tanks since they generally require a high initial investment and the ongoing maintenance expenses are also really high.
Additionally, the ISO tank container industry is currently dominated by only a few market players mainly due to the high cost which means that there is a significant monopoly in the global market. ISO tank containers may not be efficient in slack conditions further restricting the application of the product.
The ongoing political turmoil could create multiple growth opportunities whereas the fluctuating raw material prices could challenge market growth.
The global ISO tank container market is segmented based on application, mode of transport, type, and region
Based on mode of transportation, the global market is segmented into marine, rail, and road.
- The global market registered the highest growth in the road segment mainly influenced by the rising investment in road infrastructure along with relaxed regulations related to freight carriage
- The growing interstate trade along with international transportation of essential items from the petrochemical and pharmaceutical segment
- The marine segment is also expected to lead with considerable growth influenced by political events, the world economy, and international maritime trade
- In 2022, China International Marine Containers Co. Ltd. generated over USD 25 billion in revenue
Based on application, the ISO tank container industry is divided into food & beverages, petrochemicals, pharmaceuticals, chemicals, and others.
Based on type, the global market is divided into linked tank, multi-compartment tank, cryogenic and gas tank, reefer tank, and swap body tank
- The global market witnessed the highest growth in the multi-compartment tank segment in 2021 since it offers a higher advantage as compared to the counterparts
- They are equipped with two or more compartments in different versions and hence are more versatile for various liquid product
- For instance, printing ink in four different colors can be stored and transported using a four-compartment ISO tank
- The average cost of a 20 feet standard ISO container is around $10,572
Asia-Pacific is projected to lead the global ISO tank container market with China emerging as the most dominating player. Currently, China has control over more than 70% of the global market since it is the major provider of ISO tank containers to its clients based across the globe. The growth in the country is propelled by the presence of robust and strong innovation systems further encouraged by the government’s insistence on self-reliance with the vision to emerge as the next superpower. Europe can expect a higher CAGR driven by Germany since it is one of the few nations that constantly roll out ISO tank containers just below China. The presence of key players that are following strategic measures to enhance the consumer database and break China’s monopoly could be the growth contributing factors.
Market Size in 2021
USD 210.2 Million
Projected Market Size in 2030
USD 325.32 Million
CAGR Growth Rate
Key Market Players
Meeberg, Nantong Tank Container CO. Ltd., China International Marine Containers Co. Ltd., Singamas Container, CXIC Group Containers Company Limited, Bewellcn Shanghai, Danteco Industries BV, Corban Energy Group, Chart Industries Inc., Furuise, Cryeng Group, M1 Engineering, Intermodal Tank Transport, Rootselaar Group, Quantum Technologies Group Inc., Welfit Ody, Tankcon, Tankformator, Bulkhaul Limited., and Others
By Application, Mode of Transportation, Type, and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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The global ISO tank container market is led by players like Meeberg, Nantong Tank Container CO. Ltd., China International Marine Containers Co. Ltd., Singamas Container, CXIC Group Containers Company Limited, Bewellcn Shanghai, Danteco Industries BV, Corban Energy Group, Chart Industries Inc., Furuise, Cryeng Group, M1 Engineering, Intermodal Tank Transport, Rootselaar Group, Quantum Technologies Group Inc., Welfit Ody, Tankcon, Tankformator, and Bulkhaul Limited.
- In November 2021, MUTO Group, a company providing logistics assistance to the chemical and petrochemical market of Korea, and Royal Den Hartogh Logistics, a company operating in the Asia-Pacific market, entered a collaboration that is expected to help both countries expand their regional presence
- In March 2020, Mapon collaborated with Bertschi Ag which will be providing necessary skill development sessions for its drivers to enhance their driving skills
The global ISO tank container market is segmented as follows:
- Food & Beverages
By Mode of Transportation
- Lined Tank
- Multi-Compartment Tank
- Cryogenic and Gas Tank
- Reefer Tank
- Swap Body Tank
- North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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