Shipping Container Modification Market Size Current and Future Industry Trends, 2027 | Upsurge a CAGR of 6.6%
Global shipping container modification market has witnessed significant growth over the past decade, owing to rise in focus toward green home buildings
PORTLAND, OR, UNITED STATES, July 27, 2023/EINPresswire.com/ — The global shipping container modification market is expected to reach $114.6 billion by 2027, from $76.5 billion in 2019, registering a CAGR of 6.6% from 2020 to 2027. In 2019, the North America dominated the market, in terms of revenue, accounting for over one-third share of the global shipping container modification industry.
Modified shipping containers have the advantages of being simple to install, portable, accommodating small spaces, and having a nice appearance. The global shipping container modification market is expanding due to the usage of modified shipping containers in marine transportation and protection from natural disasters like earthquakes and tsunamis. Prefabricated housing demand is expected to rise as a result of government initiatives to promote green building practises and lower construction costs and times, which are both expected to support the expansion of the global market. Used shipping containers are being utilised by many developers, architects, and competitors to build dwellings.
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Key Market Segments
By Size
• Small Container (20 Feet)
• Large Container (40 Feet)
By Application
• Energy and Mining
• Construction
• Retail and Commercial
• Disaster Relief
• Others
The major players, such as BMarko Structures LLC, Sea Box Inc, Boxman Studios, Falcon Structures, Container Technology Inc, Ebtech Industrial Modular Building Solutions, Wilmot Modular Structures Inc, Singamas Container Holdings Limited, TLS Offshore Containers/ TLS Special Containers, and YMC Container Solutions, have adopted business expansion, and partnership as their key strategies to improve their product portfolio. For instance, in August 2017, Ebtech Industrial Modular Building Solutions signed a partnership with Chait Solutions, based in the U.S. that deals in providing landscape design, and graphic design systems. The partnership aimed to concentrate on building created from shipping container modification.
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Key Findings Of The Study
• The report provides an extensive analysis of the current and emerging global shipping container modification market trends and dynamics.
• Based on size, the large container (40 feet) segment was the largest revenue generating segment in 2019.
• On the basis of application, construction segment generated the highest revenue, in 2019.
• Region-wise, North America region is anticipated to dominate the global shipping container modification market share throughout the study period.
• The report provides an extensive analysis of the market trends and emerging opportunities.
• The global shipping container modification market forecast analysis from 2020 to 2027 is included in the report.
David Correa
Allied Analytics LLP
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