Global ISO container market forecast to reach $2.6bn by 2023

The global ISO modal container market is forecast to reach $2.6bn by 2023 – Increasing Government initiatives towards using natural gas and growth in steel industry and refinery throughput.

The “Global ISO Modal Container Market By Type (Type-I, Type-II, Type-III and Type-IV), By Application (LNG, Industrial Gases and Chemical & Petrochemicals), By Transport (Ship, Road and Rail), By Region, Competition Forecast & Opportunities, 2013-2023” report has been added to ResearchAndMarkets.com’s offering.

According to the report, the market is forecast to reach $2.6bn by 2023.

Anticipated growth in the market can be attributed to increasing government initiatives towards using natural gas and growth in steel industry and refinery throughput. Moreover, demand for LNG is rising at small scale level, which is further fuelling growth in the global ISO modal container market. Additionally, sea-borne LNG trade between North Americaand Asia-Pacific is growing, which is anticipated to positively influence the global ISO modal container market during forecast period.

Asia-Pacific is the major demand generator for ISO modal containers, globally, followed by Europe and North America. Few of the major players operating in the global ISO modal container market include China International Marine Containers Ltd. (CIMC), CXIC Group Containers Company Limited, Chart Industries Inc., Nantong Tank Container Co., Ltd, Air Water Plant & Engineering Inc., Singamas Container Holdings Limited, Galileo Technologies SA, LUXI Group Co. Ltd., Buhold Industries and UBH International Limited and UBH International Limited.

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11th December 2018