ISO Tank Container Market Overview 2024-2033: Outlook, Size, Share, Demand

Global iso tank container market size is expected to reach $2.38 Bn by 2028 at a rate of 9.5%, segmented as by container type, =30 ft, >30 ft

Jul 11, 2024 - 12:52

ISO Tank Container Market Overview 2024-2033: Outlook, Size, Share, Demand

Overview and Scope

ISO tank container refers to a class of tank containers that comply with guidelines defined by the International Organization of Standardization (ISO), are used to transport and store liquids, powders, and gases, are suitable for different modes of transportation, and can transport both hazardous and non-hazardous products.

Sizing and Forecast

The iso tank container market size has grown strongly in recent years. It will grow from $1.51 billion in 2023 to $1.66 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to the expansion of seaborne trade, an increase in mergers and acquisitions and an increase in investments..

The iso tank container market size is expected to see strong growth in the next few years. It will grow to $2.38 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to growing petrochemical industry, a surge in oil and gas exports, growing adoption of shipping containers and increasing import and export activities. Major trends in the forecast period include partnering with companies offering iot software, developing smart solutions using advanced smart technologies, implementing ai powered trackers in iso tank container, launching online tracking solutions, adopting advanced solutions such as optical character recognition and launching innovative products. .

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Segmentation & Regional Insights

The iso tank container market covered in this report is segmented –

1) By Container Type: ≤30 ft, >30 ft

2) By Transport Mode: Road, Rail, Marine

3) By Application: Chemicals, Petrochemicals, Food And Beverage, Pharmaceuticals, Industrial Gas, Other Applications

Europe was the largest region in the ISO tank container market in 2023. North America was the second-largest region in the ISO tank container market. The regions covered in the iso tank container market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The growing petrochemical industry is expected to propel the growth of the ISO tank container market in the forecast period. The ISO tank containers are used for transporting hazardous petrochemicals as they are made up of stainless steel and are surrounded by various types of protective layers that provide resistance to the corrosive effects of the petrochemicals. For instance, according to the International Energy Agency, petrochemicals are expected to account for about 50% of the growth in global oil demand between 2030 and 2050, contributing nearly 7 million barrels of oil. The ISO tank containers leave almost less than 50% of the carbon footprint and hence they are majorly used to ship chemicals by petrochemical industries. Additionally, according to the International Energy Agency, a France-based autonomous intergovernmental organization, petrochemicals are expected to account for more than a third of the increase in oil consumption through 2030 and almost half through 2050, outpacing trucks, aircraft, and shipping. This is due to the surge in demand for petrochemical products. Therefore, the growth of the petrochemical industry drives the growth of the ISO tank containers market.

Key Industry Players

Major companies operating in the iso tank container market report are CIMC Container Holdings Co., Ltd., Singamas Container Holdings Limited, Welfit Oddy Industries Pty Ltd, Chart Industries Inc, Sure Tank, NT Tank, Bewellcn Shanghai Co., Ltd., Cryeng Group, M1 Engineering, Corban Energy Group, Cosco Shipping, Peacock, Leschaco, VTG Tanktainer GmbH, Suttons Group, Royal Dutch Shell, Aker Solutions, Linde, Equinor, Total Energies, Transalex, Load & Go Logistics, Baltica-Trans Co Ltd, M&S Logistics, GATX, ExxonMobil Russia, Stolt-Nielsen Limited, HOYER GmbH, Bulkhaul Ltd, Danteco Industries, Meeberg, Tankformator, THIELMANN, Tankcon, Bertschi AG, Maersk, MSC, TIL Group, Intermodal Tank Transport, NewPort Tank, Aramex, DP World, Icon Middle East

The iso tank container market report table of contents includes: