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ISO Tank Containers Market

ISO Tank Containers Market Size, Share & Trends Analysis Report By Container Type (Multi-Compartment Tank, Lined Tank, Reefer Tank, Cryogenic & Gas Tanks, Swap Body Tank, Others), By Transport Mode (Road, Rail, Marine), By Capacity Size (Less than 20,000 liters, 20,000 to 35,000 liters, Over 35,000 liters), By Ownership Type (Leased / Rental, Owned), By End Use (Chemicals, Petrochemicals, Food & Beverage, Pharmaceuticals, Oil and Gas, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Report Code: SRAM1480DR
Study Period 2019-2031 CAGR 6.2%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 223.5 Million 
Forecast Year 2031 Forecast Year Market Size USD 360.8 Million
Largest Market Asia Pacific Fastest Growing Market Middle East and Africa
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Market Overview

From USD 223.5 million in 2022 to USD 360.8 million in 2031, the global ISO tank containers market size is expected to grow at a CAGR of 6.2% between 2023 and 2031. With the growth of global trade, the need for efficient and standardized transportation methods has increased. ISO Tank Containers are widely accepted globally, making them an essential part of international supply chains.

The ISO Tank Containers market is a fast-growing transportation and logistics industry area that uses standardized intermodal containers to carry liquids, chemicals, and gases efficiently, safely, and cheaply. International ISO-standard containers allow shippers to carry goods by sea, rail, and road. Demand for hazardous and non-hazardous liquid transportation and global trade in chemicals, food-grade products, and petroleum derivatives drive the industry. The petrochemical, food, and beverage sectors are adopting innovative features, including temperature control and safety measures. Environmental concerns and sustainability goals also drive the creation of eco-friendly, reusable, and recyclable tank containers. The global supply chain relies on ISO Tank Containers to move liquid cargo efficiently and securely; hence, the market will likely increase.

The ISO (International Standards Organization) Frame is now the international standard for container dimensions, which is 20' long, 8' wide, and 8'6" high. Tank containers are often built to 20ft specifications, while they are also available in 10ft, 30ft, 40ft, and 45ft lengths.

Market Dynamics

A Surge in Oil and Gas Exports

The global market for crude oil and gas has seen a tremendous increase in usage. With each passing year, the total production continues to rise to unprecedented heights. The finding of shale gas in the United States, followed by Russia, adds to this. According to our findings, the output will continue to exceed actual demand in the future years.

The number of active wells, on the other hand, is decreasing while output is increasing. For example, in 2018 and 2019, the United States produced over 12 million and 12.8 million barrels per day, respectively. Furthermore, gross natural gas withdrawals in the same years were 109.4 billion cubic feet per day and 116.8 billion cubic feet per day, respectively.

The demand for crude oil and gas on the global market has skyrocketed, and the entire production continues to increase to unimaginable heights with each passing year. The discovery of shale gas in the United States, which Russia is closely watching, adds to this. According to our research, the output will continue to surpass real needs in the coming years.

On the other side, the number of active wells is dropping while output increases. For example, the US produced approximately 12 million and 12.8 million barrels per day in 2018 and 2019, respectively. In addition, gross natural gas withdrawals in the same years were 109.4 billion cubic feet per day and 116.8 billion cubic feet per day, respectively.

The Probability of Damage in Longer Tank Containers to Pose Challenges

If the containers are used to transport solids, the shelf life of the longer tank containers is more likely to be affected. Solids are injected into containers at a higher temperature to convert them into liquid, but as the temperature returns to normal, the liquid turns back into solid. This process can be aided by forcing the viscous substance out the drain by pressurizing the tank with air at the top vent. While this method is helpful for specific loads, it is not beneficial for the tank's longevity.

Changes in temperature and pressure inside the vessel might stress the shell, in addition to mishaps during transit, loading, or unloading. Furthermore, the coating on the ISO tanks is prone to peeling or breaking over time. Any corrosive material that comes into contact with the metal of ISO tanks can shorten the tank's lifespan.

Low Competition Creates Favorable Opportunities in the ISO Market

China produces more than 85% of the world's ISO containers. Due to the number of raw materials and the need for competent labor, the country has many container manufacturers. This is a lucrative opportunity for market participants to expand their manufacturing line or plant in economies with readily available raw materials and supportive government policies.

Furthermore, the ongoing trade battle between the United States and China and China and India has produced attractive income pockets for ISO container manufacturers. Market actors might take advantage of this position to disrupt China's monopoly by creating and selling lower-cost goods and expanding their market reach in cost-sensitive regions, such as India and Latin America.

Regional Analysis

Asia-Pacific and SAMEA show a Remarkable Growth

In the global ISO container market, Asia-Pacific is the market leader. China is the world's leading producer of ISO containers, and over 80% of global manufacturing is produced in the country. In recent years, the global market has seen a decline in Chinese container production as India has begun to make containers to reduce its reliance on Chinese suppliers. Due to substantial taxes on the product from both countries and greater shipping costs, India is already paying up to 40% more on the actual price of imported containers because the taxes are high. 

Though China has the largest share in the Indian market is expected to grow at a CAGR of 6.1% during the forecast period, i.e., 2023-2031. China, India, Japan, South Korea, Taiwan, Hongkong, and Vietnam are the largest producers of industrial goods, agricultural produce, electronics items, automotive, minerals, metals, and coals. 

The second-largest market for ISO tank Containers is the Middle East and Africa. For the transportation and export of oil and gas, the region consumes the majority of ISO tank containers. In the Middle East, the U.A.E and Saudi Arabia are the primary users of the commodity. A variety of oil-based economies exist in the Middle East. The MEA ISO Tanker Market is predicted to increase at a rate of 5.3% between 2023 and 2031, with a current value of USD 21.29 million.

Report Scope

Report Metric Details
By Container Type
  1. Multi-Compartment Tank
  2. Lined Tank
  3. Reefer Tank
  4. Cryogenic & Gas Tanks
  5. Swap Body Tank
  6. Others
By Transport Mode
  1. Road
  2. Rail
  3. Marine
By Capacity Size
  1. Less than 20,000 liters
  2. 20,000 to 35,000 liters
  3. Over 35,000 liters
By Ownership Type
  1. Leased / Rental
  2. Owned
By End Use
  1. Chemicals
  2. Petrochemicals
  3. Food & Beverage
  4. Pharmaceuticals
  5. Oil and Gas
  6. Others
Company Profiles Danteco industries Meeberg Tankformator Hoover Ferguson Group Welfit Oddy Stolt-Nielsen Limited HOYER Bertschi AG Bulkhaul Limited China International Marine Containers (Group) Ltd. Seaco Global CS Leasing Den Hartogh Others
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The market is divided into two types: less than 30 feet and more than 30 feet, with the less than 30 feet segment dominating the global market at USD 174.34 million. It is expected to continue so at a CAGR of 5.9% in the years ahead. Due to its ease of transit and transfer from vehicle to vehicle by any method of transportation such as rail, road, marine, and air, the 20-foot container is the most popular size utilized for the transport of liquid goods around the world. On the other hand, the segment below 30 ft holds the most negligible market share.

Based on the mode, rail, marine, and roads are the three main segments of the market. The road segment has the largest share of the market, followed by rail and marine. But the market has seen a growth in rail in 2022, which stands at USD 95.5 million, whereas the CAGR is 5.6%.

The country's roads connect every corner, allowing for the easy loading of goods into trucks and delivery to the appropriate place. Rails can transport large amounts of merchandise, but they do not reach every part of the country. The marine mode of transport is mainly utilized for export activities between countries, limiting ISO tankers' usage.

By application, the market is bifurcated into marine transportation and land transportation. Land transport is dominating the global market. Though Land Transportation dominates the market at USD 152.47 million, Marine Transportation growth is forecasted to increase by 5.0% CAGR.

Market Size By Container Type

Market Size By Container Type
  • Multi-Compartment Tank
  • Lined Tank
  • Reefer Tank
  • Cryogenic & Gas Tanks
  • Swap Body Tank
  • Others
  • Impact of covid-19

    Covid- 19 significantly influenced ISO tank container producers, who have had to drastically curtail manufacturing capacity to keep up with price increases and demand shortages. The market saw a significant drop in demand, particularly from Asia-Pacific. It didn't last long, though. In Europe and the United States, the market quickly recovered. The rapid increase was noticed, putting additional pressure on the tank manufacturer to boost production to meet the increasing demand. 

    For a short time, the Asia-Pacific region experienced container scarcity. The shortage of containers pushed up ISO tank costs to some level, as end-users were willing to pay exorbitant amounts to get their hands on the containers and export their goods.

    Two Major Effects of Covid-19

    • Major oil, gas, and chemical corporations reduce capital and operational spending.
    • Businesses with high leverage and insufficient cash flow are more prone to experience liquidity problems, and some may be forced to close their doors permanently.

    Recovery from the Impact of COVID-19

    Companies are resuming operations and adapting to the new normal as they recover from the COVID-19 impact, which had previously resulted in restrictive containment measures such as social distancing, remote working, and the closure of commercial activities, all of which created operational challenges. 

    During the projected period, the rising petrochemical industry is expected to drive the growth of the ISO tank containers market. Since they are built of stainless steel and are surrounded by various protective layers that give resistance to the corrosive effects of the petrochemicals, ISO tank containers are used to carry hazardous petrochemicals.


    Recent Developments

    • THIELMANN the Container Company- As part of THIELMANN's global expansion plans, they have announced the opening of their next subsidiary in France. The opening of THIELMANN France will solidify and strengthen THIELMANN's presence in the French market and further widen its ever-growing global footprint. The new subsidiary in France allows THIELMANN to be even closer to the French market, serve their customer base better there, and facilitate growth within the country as part of their expansion plans.
    • January 2022- With China International Marine Containers (Group) Ltd. Equipment, a hydrogen energy tank, hydrogen cylinder, and hydrogen refueling station have been installed to help accomplish the "low carbon" Winter Olympic Games.
    • March 2022- Suttons Group has announced its investment in ISO containers. To strengthen the company's international tank fleet, one hundred 24,000 liter ISO tanks were invested.
    • December 2022- The Bertschi Group has expanded its multimodal transport and storage facilities in ValuePark Terneuzen to 22,000 square meters.
    • November 2021- Royal Den Hartogh Logistics, a merged with MUTO Group, which is an independent logistics service provider for the Korean chemical and petrochemical market. This strategic move expands the regional presence of both organizations.

    Key Players

    ISO Tank Containers Market Share of Key Players

    ISO Tank Containers Market Share of Key Players
    Danteco industries Meeberg Tankformator Hoover Ferguson Group Welfit Oddy Stolt-Nielsen Limited HOYER Bertschi AG Bulkhaul Limited China International Marine Containers (Group) Ltd. Seaco Global CS Leasing Den Hartogh Others Others

    Frequently Asked Questions (FAQs)

    What is the growth rate for the ISO Tank Containers Market?
    ISO Tank Containers Market size will grow at approx. CAGR of 6.2% during the forecast period.
    Some of the top industry players in ISO Tank Containers Market are, Danteco industries, Meeberg, Tankformator, THIELMANN, Tankcon, Stolt-Nielsen Limited, HOYER, Bertschi AG, Bulkhaul Limited, China International Marine Containers (Group) Ltd., Welfit Ody, etc.
    Asia Pacific has been dominating the ISO Tank Containers Market, accounting for the largest share of the market.
    The Middle East and Africa region has experienced the highest growth rate in the ISO Tank Containers Market.
    The global ISO Tank Containers Market report is segmented as follows: By Container Type, By Application

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