What is the current market size and future outlook for the boiler, tank, and shipping container market?
The boiler, tank, and shipping container market size has grown strongly in recent years. It will grow from $247.05 billion in 2024 to $261.89 billion in 2025 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to industrialization, energy demand, oil and gas industry growth, infrastructure development, maritime trade.
The boiler, tank, and shipping container market size is expected to see steady growth in the next few years. It will grow to $314.08 billion in 2029 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to energy transition, environmental regulations, digitalization and iot, hydrogen economy, e-commerce and logistics. Major trends in the forecast period include energy-efficient boilers, tank farm automation, containerization in agriculture, tank coating and lining technologies, intermodal container usage.
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How has the boiler, tank, and shipping container market evolved, and what factors have shaped its growth?
Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) is expected to drive innovation in boiler, tank, and shipping container manufacturing thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence, and big data analytics are being used during the manufacturing process, resulting in higher productivity, lower operating costs, and higher margins. For instance, according to the Compass, the internet traffic is projected to three times from earlier in 2022 and the share of IoT devices is expected to rise 28% by 2025, thus driving the boiler, tank, and shipping container manufacturing market in the forecast period.
What are the major segments of the boiler, tank, and shipping container market?
The boiler, tank, and shipping container market covered in this report is segmented –
1) By Type: Power Boiler And Heat Exchanger, Metal Tank (Heavy Gauge), Metal Can, Box, and Other Metal Container (Light Gauge)
2) By Product Type: Refrigerated Container, Dry Storage Container, Special Purpose Container, Flat Rack Container, Other Product Types
3) By Container Size: Small Containers, Large Containers, High Cube Container
4) By Application: Residential, Commercial, Other Applications
Subsegments:
1) By Power Boiler And Heat Exchanger: Water Tube Boilers, Fire Tube Boilers, Waste Heat Boilers, Heat Exchangers
2) By Metal Tank (Heavy Gauge): Storage Tanks, Pressure Tanks, Industrial Tanks
3) By Metal Can: Metal Cans, Canned Food Containers, Beverage Cans
4) By Box: Metal Boxes, Packaging Boxes, Shipping Boxes
5) By Other Metal Container (Light Gauge): Light-Gauge Metal Containers, Metal Pails and Buckets, Metal Crates
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Which companies dominate the boiler, tank, and shipping container market?
Major companies operating in the boiler, tank, and shipping container market include Ball Corporation, China International Marine Containers (Group) Ltd., General Electric Company, Alfa Laval AB, Ardagh Group S.A., Doosan Heavy Industries & Construction Co. Ltd., Pacific International Lines (Private) Limited, BWX Technologies Inc, CIMC Enric Holdings Limited, A.P. Møller-Mærsk A/S, Novelis Inc., Rio Tinto Group, Alcoa Corporation, United Co RUSAL PLC, Aluminum Corporation of China Limited (CHALCO), Glencore International, Emirates Global Aluminum, Norsk Hydro ASA, Angang Steel Company Limited, Steel Authority of India Limited, SSAB AB, Nucor Corp, Compagnie de Saint-Gobain S.A., Nippon Steel & Sumitomo Metal Corporation, Vallourec SA, Voestalpine AG, Mechel PAO, Atlas Copco AB, Metso Oyj.
How will evolving trends contribute to the growth of the boiler, tank, and shipping container market?
Major companies operating in the boiler, tank, and shipping container market are focused on developing innovative products such as steam water tube boilers to enhance efficiency, reduce emissions, and meet diverse industrial needs. Steam water tube boilers are a type of boiler in which water circulates inside tubes that are heated externally by steam or hot gases, making them efficient for generating high-pressure steam for various industrial applications. For instance, in January 2023, Babcock Wanson UK Ltd, a UK-based machinery manufacturing company, launched FM Pack Water Tube Boilers. FM Pack Water Tube Boilers are designed for high steam output, high pressure, and superheated steam applications. They offer enhanced efficiency, durability, and adaptability to different fuel types and emissions regulations.
What are the key regional dynamics of the boiler, tank, and shipping container market, and which region leads in market share?
Asia-Pacific was the largest region in the boiler, tank, and shipping container market in 2023. Western Europe was the second largest region in the boiler, tank, and shipping container market. The regions covered in the boiler, tank, and shipping container market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Boiler, Tank, And Shipping Container Market Report 2025 Offer?
The boiler, tank, and shipping container market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Boilers, tanks, and shipping containers refer to a type of container made of metal by using a method of manufacturing that includes cutting, forming, and joining metal parts to produce tanks that are used for storage and transportation of goods from one place to another, the processing of liquid material, and the storage of hazardous liquids.
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