The shipping container is an integral part of international trade, logistics, and shipping processes. The top 10 shipping container manufacturers in the world are currently leading the global shipping container market with their largest production volumes. Shipping has been the backbone of global trade over the past decades. More than 90% of all world trade in goods is conducted by international seaborne shipping companies.
This requires large numbers of shipping containers and shipping tanks to transport, load, store, and transport different goods on the international trading markets. The demand for shipping containers will continue to increase as global trade activities grow. In addition, revenues from the top 10 largest shipping companies worldwide are expected to rise over the next few years.
This industry fact sheet was created to aid industry professionals, investors, and anyone else who is interested in learning more about the global shipping container/shipping tank industry.
- How big is the shipping container market worldwide?
- What are the key factors driving global shipping industry growth
- What are the most common shipping containers?
- Which are the biggest shipping container manufacturers?
- What will the future trends in the shipping container industry?
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Global Shipping Container Industry Overview
What is a shipping container?
Shipping containers are used to store, transport, and contain goods in global shipping. Containers can be easily and efficiently moved in ships, trucks, and trains. The standard dimensions for containers in the world have been set by the International Organization for Standardization (ISO). They measure 8ft (2.43m), 8.5ft (2.59m), respectively, and are available in two lengths: 20ft (6.06m) and 40ft (12.2m). A 20-foot shipping container is also known as a Twenty-Foot Equivalent Unit (TEU). This standard has been adopted by the industry and cargo volume and vessel capacities are now measured in TEU.
According to Allied Market Research’s recent industry report, the global shipping container market was valued at $8.70 million in 2019 and is expected to grow to $12.08 billion by 2027. This represents a 4.3% CAGR for the period 2020-2027. The growth of the shipping container market is supported by factors such as an increase in cargo transport via ships and a rise in trade-related deals.
Asia-Pacific is the largest region for shipping containers. This is because of the rapid growth of the regional economy as well as the development in Inter-Asia, intra-Asia, and intra-Asia trade. Many Asian countries have liberalized trade barriers to encourage inter-Asian trade. This has led to a reduction in the gap between Far Eastern-Europa, and Far Eastern North America.
This will in turn positively impact the demand for containers by various end-users. China is currently the world’s largest shipping container producer, representing more than 85% of the world’s total shipping container production. China also houses many of the top 10 largest shipping container producers in the world, including CIMC and Singamas.
Top 10 Largest Shipping Container Manufacturers in the WorldWide
1. China International Marine Container Group Co., Ltd. (CIMC)
Headquarters: Shenzhen, China
China International Marine Containers Group) Ltd. (CIMC), is a leading global supplier of logistics and energy equipment. It is headquartered in Shenzhen, China. CIMC provides reliable and high-quality equipment and services. This includes containers, vehicles and energy equipment as well as food and chemical equipment. It also offers logistics and airport facilities. CIMC, the world’s largest container manufacturer, has a capacity of 2,000,000 containers annually and is the first company worldwide to surpass 2 million TEUs.
2. Singamas Container Holdings Ltd. (SINGAMAS)
Headquarters: Shanghai, China
Singamas Container Holdings Limited was established in 1988. It is one of the largest shipping container manufacturers in the world with a production capacity of 210 000 twenty-foot equivalent units. SINGAMAS offers a variety of products, including dry freight containers and collapsible flat racks. SINGAMAS is a major operator of container depots and terminals, as well as a provider of logistics services.
3. CXIC Group Containers Co., Ltd. (CXIC)
Headquarters: Changzhou, China
CXIC, a Chinese privately-owned enterprise, specializes in shipping containers companies. Its main products include ISO Sea Freight Dry Cargo containers and special containers. Over 8000 people work for the group. The total annual production capacity for the group is 900,000. TEU ISO containers, and 25,000 special containers. 90% of its output is exported to more than 40 countries and regions around the globe.
4. China Eastern Containers (CEC)
Headquarters: Shanghai, China
China Eastern Containers is one of the most important shipping container manufacturers in the world and supplies premium products all over North America, Asia, and Europe. CEC is an ISO-certified manufacturer of Shipping Containers. Storage Containers. Offshore Containers. The factory is situated in Shanghai’s economic development zone. It has a total area of more than 300,000 m2 and a container yard. CEC has a production capacity of 150,000 TEU annually.
5. China COSCO Shipping Corporation Limited
Headquarters: Shanghai, China
China COSCO Shipping Corporation Limited, a Chinese conglomerate of businesses and state-owned companies, is located in China. In 2016, the COSCO Group and China Shipping Group merged to create the company. The company is active in many business sectors. Its container manufacturing company focuses on integrated logistics, shipping, financial services. COSCO SHIPPING’s total fleet includes 1310 vessels, with a combined capacity of 105.92 million DWT. This makes it the No.1 worldwide shipping company.
6. W&K Container Inc
Headquarters: California, USA
W&K container has been in the shipping business since 1995. It has global ISO container manufacturing and distribution capabilities. As an authorized contractor for the U.S. Federal Government, W&K Container supplies both the public and private sectors. W&K is one of the top 10 largest container manufacturers worldwide in 2020 thanks to its global network and ability to deliver container products around the globe. This is the best shipping container manufacturer in the USA.
7. Maersk Container Industry (MCI)
Headquarters: Copenhagen, Denmark
Maersk Container Industry produces refrigerated boxes for the intermodal industry, which includes shipping lines and fruit multinationals, and leasing companies. MCI is part of A.P. Moeller-Maersk, a multi-brand integrated transport, and logistics company, that is a leader in container shipping.
8. TLS Offshore Containers International
TLS Offshore Containers has been a leader in the production of offshore containers, cabins, and modules to meet the highest offshore standards DNV 2.7-1/EN 12079. TLS has a manufacturing plant that covers more than 150,000m2 and employs 1600 people. It is the largest container manufacturing base in the world and provides global offshore container solutions for over 40 countries.
9. YMC Container Solutions
Headquarters: East Yorkshire, UK
YMC container solutions is one the largest shipping container companies in the world, based in the UK. It produces a wide variety of containers including multi-use containers and nuclear freight containers. BSEN ISO 9001-2008 quality management certification is also held by the company.
10. DCM Hyundai
Headquarters: Faridabad, India
DCM Hyundai Limited was established in 1993 by DCM Shriram Industries Limited (India) and Hyundai Mobis (Korea). DCM is principally involved with the manufacture and supply of containers, cargo handling units, and load-carrying bodies. DCM also produces and supplies various types of trailers, tip-trailers, car carriers, and containerized bodies for white goods movement.
Global Shipping Container Industry Trends for Future
Smart shipping container suppliers are a rising trend in the shipping container industry. This segment is expected to continue its strong growth over the next few years. Smart shipping containers can be described as shipping containers that have IoT capabilities and smart sensor technology. This allows for better tracking and monitoring of the shipping process. Each smart shipping container, as part of the transportation management system (TMS), will provide valuable data feeds to the control. This helps to significantly improve shipping management worldwide.