The global feeder containers market is slated to total a valuation of US$7.8 billion in 2022, according to a report by Future Market Insights (FMI), which showed that with sales growing at a 5.9% compound annual growth rate (CAGR), the market size will surpass US$13.8 billion by 2032.
One of the primary drivers propelling the global feeder containers market is the growing usage of feeder containers due to their flexibility in transportation and low cost, according to the report, while they can be used for a variety of purposes, from carrying lightweight to heavy products.
“Feeder containers are considered a viable option as compared to air shipping, as container shipping is more foreseeable, cost-efficient and capable of moving heavier loads,” noted Future Market Insights, adding that shipping companies plan to expand their activities in different regions, which increases the export and import, resulting in higher demand for feeder containers.
On the back of these factors, sales of feeder containers across various end-use sectors will continue gaining traction over the forecast period, according to the report.
“The introduction of radio-frequency identification (RFID) tag-based smart feeder containers, along with surging demand for eco-friendly and flexible packaging solutions will fuel the growth in the market over the assessment period,” commented an FMI analyst.
FMI noted the following main findings in its report:
- By product type, the dry containers segment is projected to account for 55% of the total market share by 2032.
- Based on container size, the high cube size container segment is anticipated to remain lucrative.
- In terms of end-use, the oil & gas and mining segment is projected to register a CAGR of 4.7% during 2022-2032.
- The US will account for 87.9% of the North America feeder container market over the assessment period.
- China is expected to emerge as an attractive pocket, holding 54.3% of the east Asia feeder container market share over the forecast period.
- North America and Asia are anticipated to witness the highest demand for feeder containers during the forecast period, accounting for 30-35% of the total market share collectively.
