Boilers, tanks, and shipping containers refer to a type of container made of metal by using a method of manufacturing that includes cutting, forming, and joining metal parts to produce tanks that are used for storage and transportation of goods from one place to another, the processing of liquid material, and the storage of hazardous liquids.
The main types of boilers, tanks and shipping containers are power boiler and heat exchanger, metal tank (heavy gauge), metal can, box, and other metal container (light gauge). The power boiler and heat exchanger are used by the powerplants to boil the water into steam. The different product types include refrigerated containers, dry storage containers, special-purpose containers, flat rack containers, and other product types. They are available in different sizes such as small containers, large containers, and high cube containers and are used in residential, commercial, and other applications.
The global boiler, tank, and shipping container market is segmented -
1) By Type: Power Boiler and Heat Exchanger, Metal Tank (Heavy Gauge), Metal Can, Box, and Other Metal Container (Light Gauge)
2) By Product Type: Refrigirated Container, Dry Storage Container, Special Purpose Container, Flat Rack Container, Other Product Types
3) By Container Size: Small Containers, Large Containers, High Cube Container
4) By Application: Residential, Commercial, Other Applications
The global boiler, tank, and shipping container market size grew from $220.3 billion in 2022 to $238.02 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global boiler, tank, and shipping container is expected to grow to $313.93 billion in 2027 at a CAGR of 7.2%.
Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) is expected to drive innovation in boiler, tank, and shipping container manufacturing thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used during the manufacturing process, resulting in higher productivity, lower operating costs, and higher margins. For instance, according to the Compass, the internet traffic is projected to three times from earlier in 2022 and the share of IoT devices is expected to rise 28% by 2025., thus driving the growth of the boiler, tank, and shipping container manufacturing market in the forecast period.
Major companies in the boiler, tank and shipping container market include Ball Corporation, China International Marine Containers (Group) Ltd., General Electric Company, Alfa Laval AB, Ardagh Group S.A, Doosan Heavy Industries & Construction Co. Ltd., Pacific International Lines (Private) Limited, BWX Technologies Inc., CIMC Enric Holdings Limited, and A.P. Møller-Mærsk A/S.
Many metal and mineral manufacturing companies are using robotics and automation to improve plant efficiency and productivity. Sensors are being used in various machines to access invaluable data for improving efficiencies and reducing potential breakdowns. For instance, according to a report by Boston Consulting Group (BCG), 1.2 million industrial robots are expected to be deployed by 2025, thus indicating a rise in automation and robotics technology adoption to improve productivity and reduce production costs. According to the KPMG report, 16% of executives of global metals companies have already invested in robotics for metal manufacturing, 31% of executives have set plans to possibly invest in robotics for new technology and opportunities, and 42% are willing to invest in robotics shortly. Additionally, the report states, 63% of the executives of metal manufacturing companies are considering investing in automation.
Asia-Pacific was the largest region in the boiler, tank, and shipping container market share in 2022. Western Europe was the second largest region in the boiler, tank, and shipping container market. The regions covered in the global boiler, tank, and global shipping container market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the boiler, tank, and shipping container market include Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, Vietnam.
The boilers, tanks and shipping containers market consists of sales of dry storage container, open top tanks, and half height containers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The boiler, tank, and shipping container market research report is one of a series of new reports from The Business Research Company that provides boiler, tank, and shipping container market statistics, including boiler, tank, and shipping container industry global market size, regional shares, competitors with a boiler, tank, and shipping container market share, detailed boiler, tank, and shipping container market segments, market trends and opportunities, and any further data you may need to thrive in the boiler, tank, and shipping container industry. This boiler, tank, and shipping container market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.