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Shipping containers market expected to reach $12,083 million, globally, by 2023 illuminated by new report

Consumer Market Research

Shipping Containers Market was valued at $8,705 million in 2015, and is expected to reach $12,083 million by 2023, growing at a CAGR of 4.5% during the forecast period. The small container (20 feet) segment is anticipated to dominate the market throughout the analysis period. Asia-Pacific accounted for approximately 35% share of the global market in 2015, and is projected to lead in the future.

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Shipping container is a standardized reusable steel box used for the storage and movement of materials and products within a freight transport system. ISO or intermodal containers are used for the intermodal transport of freight.

They are manufactured according to specifications from the International Organization for Standardization (ISO) and are suitable for multiple transportation methods such as truck, rail, or ship. These regulations define a shipping container that meets size, strength, and durability requirements.

The basis of these regulations is to guarantee that the container are expected to withstand extreme environments endured during transport as well as possess the structural integrity needed to be lifted by cranes or other heavy equipment.

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