New York, United States, December 06, 2023 (GLOBE NEWSWIRE) — The global ISO tank container market size is expected to grow from US$0.74 billion in 2022 to US$1.70 billion by 2032 at a compound annual growth rate (CAGR). 8.7% during the forecast period.
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An ISO tank container, short for International Organization for Standardization tank container, is a standardized shipping container specifically designed for the safe and efficient transportation 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 a variety of sizes, typically ranging from 20 to 40 feet in length, and are made from durable materials such as 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 to handle a wide range of commodities such as chemicals, food products and hazardous materials.
Browse key industry insights spread across 200 pages with 110 market data tables and report figures and charts. ,Global ISO Tank Container Market Size, Share and COVID-19 Impact Analysis, By transportation mode (road, rail, and marine), by container type (multi-compartment tanks, lined tanks, reefer tanks, cryogenic and gas tanks, and swap body tanks), by end-use industry (chemicals, petrochemicals, food and beverage Substances, Pharmaceuticals, Industrial Gases and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), Analysis and Forecast 2022 – 2032,
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In 2022, the market share of the road segment was about 42.5%
On the basis of transportation mode, the global ISO tank container market has been segmented into road, rail and sea. The road segment had 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 especially prevalent for the delivery of bulk liquids and gases to various industries, ensuring a timely and efficient supply chain. The convenience and reliability of road transport contributes to its dominance in the market, especially for destinations where rail or sea routes may not be readily available or viable.
Multi-compartment tank segment held the largest market with over 26.4% revenue share in 2022
Based on container type, the global ISO tank container market has been segmented into multi-compartment tanks, lined tanks, reefer tanks, cryogenic and gas tanks, and swap body tanks. The multi-compartment tank segment held the largest market share in the ISO tank container industry due to its versatility and efficiency in transporting different types of liquids or gases simultaneously. These tanks contain multiple compartments within a single container, allowing for the transportation of different products without contamination or the need for separate containers.
The petrochemical segment is expected to grow at a CAGR of approximately 8.9% during the forecast period.
On the basis of end-use industry, the global ISO tank containers market has been segmented into chemicals, petrochemicals, food and beverages, pharmaceuticals, industrial gases and others. The petrochemical segment is set to witness substantial growth during the forecast period due to increasing global demand for petrochemical products including chemicals, plastics and fuels, leading to a continued need for efficient and safe transportation solutions such as ISO tank containers. Additionally, the need for safe and reliable bulk liquid transportation has increased due to increasing exploration and production activities in the petrochemical sector, further increasing the demand.
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Europe is projected to grow at a significant CAGR over the projected period
On the basis of region, Europe’s anticipated significant growth in the ISO tank container market during the forecast period can be attributed to the emphasis on stringent regulations and safety standards, making ISO tank containers an attractive option for transportation of hazardous and sensitive materials. Become an option. The growth of chemical manufacturing and pharmaceutical industries in Europe increases the demand for these containers. Additionally, the continent’s well-developed transportation infrastructure and connectivity facilitates efficient distribution, further boosting market expansion.
Asia-Pacific’s dominance in the ISO tank container market can be attributed to strong industrial and manufacturing sectors, with substantial demand for bulk liquid and gas transportation, especially in countries like China and India. Asia-Pacific’s status as a major global trade hub with extensive imports and exports requires efficient logistics solutions, making ISO tank containers a preferred choice.
competitive analysis:
The report provides proper analysis of the key organizations/companies involved in the global market primarily based on their product offering, business overview, geographical presence, enterprise strategies, segment market share and SWOT analysis along with comparative assessment based on their product offering, business overview, geographical presence, enterprise strategies, segment market share and SWOT analysis. The report also provides a detailed analysis focusing on the current news and developments of the companies, including product developments, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances and others. This allows evaluation of the overall competition within the market. Major players in the global ISO tank container market include Intermodal Tank Transport, Bertschi AG, Bulkhaul Ltd., Royal Den Hartog Logistics, Hoyer GmbH, Interflow TCS Ltd., New Port Tanks, Sinochain Logistics Co. Ltd., Stolt-Nielsen Ltd. VTG Tanktainer GmbH and others.
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recent developments
- In March 2022 Suttons Group announced that it would invest in ISO containers. One hundred 24,000 liter ISO tanks were purchased to strengthen the company’s international tank fleet.
- In November 2021, Royal Den Hartog Logistics merged with MUTO Group, an independent logistics service provider to the Korean chemical and petrochemical sector. This strategic initiative broadens the geographical footprint of both organizations.
market segment
The study estimates revenues at the global, regional and country levels from 2019 to 2032. Spherical Insights has segmented the global ISO tank container market based on the below mentioned segments:
ISO Tank Container Market, by Transportation Mode
ISO Tank Container Market, By Container Type
- Multi-compartment tank
- lined tank
- reefer tank
- Cryogenic and gas tanks
- swap body tank
ISO Tank Container Market, by End Use Industry
- chemicals
- petrochemicals
- Food & Beverage
- medicines
- industrial gas
- Other
ISO Tank Container Market, Regional Analysis
- North America
- Europe
- Germany
- UK
- France
- Italy
- spain
- Russia
- rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- rest of asia pacific
- South America
- brazil
- argentina
- rest of south america
- Middle East and Africa
- United Arab Emirates
- Saudi Arab
- Queue
- South Africa
- Rest of the Middle East and Africa
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