Global ISO Tank Container Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
15 Nov, 2021
The ISO tank container market consists of sales of tank containers by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing intermodal ISO tank containers for transporting liquid products. The ISO tank container is designed and manufactured as per the guidelines defined by the International Organization of Standardization (ISO). The ISO tank containers are suitable for different modes of transportation and can transport both hazardous and non-hazardous products.
Global ISO Tank Container Market Size And Drivers:
The global ISO tank container market is expected to grow from $0.91 billion in 2020 to $0.99 billion in 2021 at a compound annual growth rate (CAGR) of 8.9%. The growth of the ISO tank container market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The ISO tank container market is expected to reach $1.46 billion in 2025 at a CAGR of 10%. The growing petrochemical industry is expected to propel the growth of the ISO tank containers market in the forecast period.
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Trends In The Global ISO Tank Container Market
Usage of the internet of things (IoT) for remote monitoring of ISO tank containers is shaping the ISO tank container market. The Internet of Things (IoT) is a system of internet-connected objects that can collect and transfer data over a wireless network without human intervention. Many companies operating in the ISO tank container sector are increasingly partnering with companies offering IoT software. For instance, in July 2021, Arkema, a France-based chemicals company collaborated with Nexxiot a Swiss company offering digital logistics solutions. This collaboration seeks to digitize Arkema's ISO tank (tank container) and rail freight wagon fleets, utilizing Nexxiot's IoT devices and intelligent cloud platform to help Arkema clients achieve end-to-end visibility, increase quality standards, and improve the overall service experience.
Global ISO Tank Container Market Segments:
The global ISO container market is further segmented –
By Container Type: Dry Container, Thermal and Refrigerated Container, Tank Container, Open Top Container, Insulated Container, Flat Rack Container, Others
By Transport Mode: Road, Rail, Marine
By Application: Chemicals, Petrochemicals, Food And Beverage, Pharmaceuticals, Industrial Gas, Others
By Geography: The global ISO tank market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/iso-tank-container-global-market-reportISO Tank Container Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides ISO tank container market overviews, analyzes and forecasts market size and growth for the global ISO tank container market, ISO tank container market share, ISO tank container market players, ISO tank container market segments and geographies, ISO tank container market’s leading competitors’ revenues, profiles and market shares. The ISO tank container market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.