ISO Tank Container Market Size | Share | Global Forecast 2023

According to Precision Business Insights (PBI) latest report iso tank container market were valued at USD 245.7 million in 2022 and is expected to grow at 5.3% CAGR during the forecast period 2023 to 2029. The increasing concerns regarding the transport of reactive, toxic, and dangerous chemicals without spilling are currently driving the market and are likely to boost the market in the projected period. The development of new stress analysis techniques for designing lighter tanks with increased safety and as per the international regulation's fixed laden weight and the emergence of newer models has led to growth opportunities in the ISO tank compartments market. Moreover, the advancement in digital technologies is in trend in the ISO tank container market to transform chemical manufacturing through real-time monitoring of chemical assets, improving accuracy, cost efficiency, safety monitoring, improving efficiency, and reliability and is expected to increase the market in the forecast period.

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The iso tank container market is segmented based on container type, transport mode, end-user, and geography.

Based on the container type, the market is segmented into the following:
• Multi-Compartment Container
• Lined Container
• Reefer Container
• Cryogenic & Gas Container
• Swap Body Container
• Dry Container
• Open Top Container
• Flat Rack Container
• Others

Based on the transport mode, the market is segmented into the following:
• Road
• Rail
• Marine

Based on the end-user industry, the market is segmented into the following:
• Chemicals
• Petrochemicals
• Food & Beverage
• Pharmaceuticals
• Industrial Gas
• Information Technology
• Others

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Based on the mode of transportation, road freight is one of the most common modes and is anticipated to show a significant growth rate in the market share over the forecasting period. The significant improvement in the production of road vehicles, improved quality of roads, and gradual elimination of road regulations limiting road transport has led to an increase in ISO tank compartments used by road transport. Moreover, the cost-effectiveness, quick and scheduled delivery, flexible servicing, and saving in packing costs compared to other modes have made it the preferred mode of transportation. As a result of the track and trace cargo and growth of interstate commerce has expanded the range of freight tasks for which roads are better suited than other means of transport in the ISO tank compartment market.

Asia Pacific Leads ISO Tank Compartments Market
ISO Tank Compartment market has been segmented into North America, Europe, Asia-Pacific, and the Middle East and Africa. Asia Pacific accounted to have a significant share of the ISO tank compartment market and the market is expected to grow at a significant CAGR over the forecast period owing to China, India, Japan, and South Korea. China has become a huge manufacturing base for shipping containers around the world. Furthermore, the increasing acceptance and product innovation in terms of ISO tank containers along with growth in the food and beverage segment encouraged by the growing population, rise in disposable income, and better investment opportunities is driving the Asia Pacific ISO tank compartment market. North America is also expected to hold a major share of the market due to the rapid construction of different warehouses and distribution centres in the region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players

ISO tank compartments market further reveals that the key players increasingly adopting strategies such as the launch of newer products, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance,

In April 2023, Boasso and Quala signed and sealed a merger to create one of the leading infrastructure services solution providers for the liquid bulk logistics industry.

In November 2021, Logistics provider Suttons International acquired overseas ISO tank containers, personnel, and customer contracts from VTG Tanktainer.

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Key player's profile in the ISO tank compartment market report is Intermodal Tank Transport, VTG Tanktainer GmbH, Bertschi AG, Bulkhaul Limited, Royal Den Hartogh Logistics, HOYER GmbH, Interflow TCS Ltd, New Port Tank, Sinochain Logistics Co., Ltd., Meeberg, Nantong Tank Container CO. Ltd., China International Marine Containers Co. Ltd., Singamas Container, CXIC Group Containers Company Limited, Bewellcn Shanghai, Danteco Industries BV, Corban Energy Group.

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