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Shipping Container Modification Market to Reach $114.58 Bn, Globally, by 2027 at 6.6% CAGR: Allied Market Research
PORTLAND, Ore., June 9, 2021 /PRNewswire/ Allied Market Research published a report, titled, Shipping Container Modification Market by Size (Small Container (20 Feet) and Large Container (40 Feet), and Application (Energy and Mining, Construction, Retail and Commercial, Disaster Relief, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027. According to the report, the global shipping container modification industry generated $76.52 billion in 2019, and is estimated to reach $114.58 billion by 2027, witnessing a CAGR of 6.6% from 2020 to 2027.
Prime determinants of growth:
Reduction in cost and time needed for construction, rise in need for protection of architecture from changing environment in cold regions, and east in installation and relocation drive the growth of the global shipping container modification market. However, low life span o
Global Shipping Containers Market: Underlying Forces
There are several facets in the market that have impacted the market’s growth. The research report gives a brief on these underlying forces that influence the growth of the market in a positive as well as negative manner.
Factors such as increasing demand for highly efficient and superior capacity containers for shipping across the globe, increasing sales of specialized containers for shipping purposes owing to increased demand for these containers, steady growth of seaborne trade, growing containerization, increasing application of RCM (Remote Container Management) solutions, increasing preference for 40 feet high cube containers, substantial demand for reefer containers and favorable government regulations pertaining to emissions that is pushing the use of eco-friendly refrigerants in shipping containers are expected to present good growth opportunities in the coming years.
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