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ISO Tank Containers Market: Information by Type (≤30 ft, >30 ft), Mode (Road, Rail, and Marine), Application (Land Transportation, Marine Transportation), and Region — Forecast till 2029

Market Snapshot
Study Period:
2017-2029
Base Year:
2021
Fastest Growing Market:
Middle East and Africa
Largest Market:
Asia Pacific
CAGR:
4.7 %
Key Players
Danteco industries

Meeberg

Tankformator

THIELMANN

Tankcon

Stolt-Nielsen Limited

Market Synopsis

From USD 205.81 million in 2020 to USD 320.40 million in 2029, the global ISO tank containers market is expected to grow at a CAGR of 4.7% between 2021 and 2029.

For intermodal freight transit, ISO or intermodal containers are utilized. They are made to International Organization for Standardization (ISO) criteria and are appropriate for numerous modes of transportation, including truck, rail, and ship. These rules specify a shipping container with the right size, strength, and durability. The purpose of these standards is to ensure that the container can resist the harsh conditions encountered during transportation and has the structural integrity required to be hoisted by cranes or other heavy machinery. 

ISO tank containers come in various sizes, and the global market is swamped with them. However, due to the ease of transit and transfer from vehicle to vehicle by any method of transportation, such as rail, road, marine, and air, 20 ft is the most common size utilized for the transport of liquid goods around the world. 

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 Drivers

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.

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.

Segment Analysis of ISO Tank Containers

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 4.5% 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 2021, which stands at USD 95.5 million, whereas the CAGR is 5.1%.

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.

Regional Analysis of ISO Tank Containers

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., 2017–2029. 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 4.5% between 2017 and 2029, with a current value of USD 21.29 million.

Competitive Players in the Global ISO Tank Containers Market

Some of the key players in the global 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.

Recent Developments by the Key Players:

  • 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.
  • November 2020- According to the latest number, Stolt Tankers has cut its fuel use by 6% since 20201. The same amount reduces CO2 emissions as eliminating 18,000 cars from the road for a year.
  • January 2020- The 40,000th Bertschi AG container has recently been added to the Group's container fleet, fresh from production. The company also broke the one billion mark for the first time with record sales of CHF 1.02 billion.

ISO Tank Containers Market: Segmentation

By Container Type

  • ≤30 ft
  • >30 ft

By Application

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • The Middle East and Africa

Frequently Asked Questions (FAQs)

From USD 205.81 million in 2020 to USD 320.40 million in 2029, the global ISO tank containers market is expected to grow at a CAGR of 4.7% between 2021 and 2029.
The increase of seaborne commerce that makes transportation safe and fast, increased demand for transportation reduced costs and improved efficiency are the key factors expected to drive ISO Tank Container Market during the forecast period.
Asia Pacific is expected to hold the highest market share in ISO Tank Container Market.
Danteco industries, Meeberg, Tankformator, THIELMANN, Tankcon, Stolt-Nielsen Limited, HOYER, Bertschi AG, Bulkhaul Limited, China International Marine Containers (Group) Ltd., Welfit Ody. are the top players in ISO Tank Container Market.
In 2029 Global ISO Tank Container Market was valued at USD 320.40 million.
Road Application Segment is expected to be the leading segment in ISO Tank Container Market during the forecast period.
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