Global ISO Tank Container Market Size To Worth USD 1.70 Billion by 2032 | CAGR of 8.7%
Category: Machinery & EquipmentGlobal ISO Tank Container Market Size To Worth USD 1.70 Billion by 2032
According to a research report published by Spherical Insights & Consulting, The Global ISO Tank Container Market size is to Grow from USD 0.74 Billion in 2022 to USD 1.70 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 8.7% during the forecast period.
Get more details on this report -
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on The “Global ISO Tank Container Market Size, Share, and COVID-19 Impact Analysis, By Transport Mode (Road, Rail, and Marine), By Container Type (Multi-Compartment Tank, Lined Tank, Reefer Tank, Cryogenic & Gas Tanks, and Swap Body Tank), By End-use Industry (Chemicals, Petrochemicals, Food & Beverage, Pharmaceuticals, Industrial Gas, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032.” Get Detailed Report Description Here : https://www.sphericalinsights.com/reports/iso-tank-container-market
An ISO tank container, short for International Organization for Standardization tank container, is a standardized shipping container specifically designed for the safe and efficient transport of liquids, gases, and bulk materials. These containers adhere to strict international standards to ensure compatibility and safety during transportation. ISO tank containers come in various sizes, typically ranging from 20 to 40 feet in length, and are constructed from durable materials like stainless steel to withstand the rigors of long-distance shipping and various environmental conditions. They feature standardized fittings, including valves, vents, and pressure relief devices, making them versatile for handling a wide range of commodities such as chemicals, food products, and hazardous materials.
In 2022, the road segment accounted for around 42.5% market share
On the basis of the transport mode, the global ISO tank container market is segmented into road, rail, and marine. The road segment held the largest market share in the ISO Tank Container industry due to its versatility and accessibility. ISO tank containers can be easily transported via trucks, making them ideal for short to medium-distance shipments. This mode of transportation is particularly prevalent for the delivery of bulk liquids and gases to various industries, ensuring timely and efficient supply chains. The convenience and reliability of road transport contribute to its dominance in the market, especially for destinations where rail or sea routes may not be as readily available or feasible.
The multi-compartment tank segment held the largest market with more than 26.4% revenue share in 2022
Based on the container type, the global ISO tank container market is segmented into multi-compartment tank, lined tank, reefer tank, cryogenic & gas tanks, and swap body tank. The multi-compartment tank segment held the largest market share in the ISO Tank Container industry due to its versatility and efficiency in transporting various types of liquids or gases simultaneously. These tanks feature multiple compartments within a single container, allowing for the transportation of different products without contamination or the need for separate containers.
The petrochemicals segment is expected to Grow at a CAGR of around 8.9% during the forecast period
Based on the end-use industry, the global ISO tank container market is segmented into chemicals, petrochemicals, food & beverage, pharmaceuticals, industrial gas, and others. The petrochemicals segment is poised for substantial Growth during the forecast period due to expanding global demand for petrochemical products, including chemicals, plastics, and fuels, fuels a continuous need for efficient and secure transportation solutions like ISO tank containers. Additionally, the increased exploration and production activities in the petrochemical sector drive the requirement for safe and reliable bulk liquid transport, further boosting demand.
Europe is predicted to Grow at a significant CAGR over the projected period
Based on region, Europe's anticipated significant Growth in the ISO tank container market during the forecast period can be attributed to stringent regulations and emphasis on safety standards make ISO tank containers an attractive option for transporting hazardous and sensitive materials. The Growth of chemical manufacturing and pharmaceutical industries in Europe drives the demand for these containers. Additionally, the continent's well-developed transportation infrastructure and connectivity facilitate efficient distribution, further fueling market expansion.
Asia-Pacific's dominance in the ISO tank container market can be attributed to robust industrial and manufacturing sectors, particularly in countries like China and India, drive substantial demand for bulk liquid and gas transportation. Asia-Pacific's position as a major global trade hub, with extensive imports and exports, necessitates efficient logistics solutions, making ISO tank containers a preferred choice.
Some of the major players in the global ISO tank container market include Intermodal Tank Transport, Bertschi AG, Bulkhaul Limited, Royal Den Hartogh Logistics, HOYER GmbH, Interflow TCS Ltd., New Port Tank, Sinochain Logistics Co., Ltd., Stolt-Nielsen Limited, and VTG Tanktainer GmbH
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?