Boiler, Tank, and Shipping Container Market Surges, Poised for Robust Growth

The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033

LONDON, GREATER LONDON, UK, January 15, 2024 /EINPresswire.com/ -- The boiler, tank, and shipping container market have exhibited robust growth, expanding from $230.24 billion in 2023 to $243.84 billion in 2024 at a commendable compound annual growth rate (CAGR) of 5.9%. With anticipations set for strong growth in the coming years, the market is projected to attain $299.96 billion by 2028, boasting a CAGR of 5.3%.

Key Drivers of Market Growth

1. Impact of Rapid Advances in Wireless Technology:
The market is witnessing a transformative impact from rapid advances in wireless technology and miniaturization. This technological evolution is driving innovation in the manufacturing of boilers, tanks, and shipping containers. Technologies such as 3D printing, artificial intelligence, and big data analytics are further enhancing productivity, reducing operating costs, and boosting profit margins. The increasing prevalence of IoT devices, expected to rise by 28% by 2025, is a significant driver influencing market growth.

2. Harnessing Robotics and Automation:
The integration of robotics and automation in metal and mineral manufacturing is enhancing plant efficiency and productivity. Sensor-enabled machines provide valuable data for optimizing operations and mitigating potential breakdowns. Notably, a surge in robot orders, up by 67%, was observed in the second quarter of 2021, emphasizing the growing role of automation in the industry.

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Major Players Shaping the Landscape
Key companies contributing to the market's dynamics 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., and others.

Product Development Driving Revenue for boiler, tank, and shipping container market.

Development of Innovative Products:
To expand their market reach and increase revenue, major companies are focusing on developing new products. Notable examples include the introduction of double-pallet shipping containers, such as the KTM42D by Tower Cold Chain. This reusable container features a passive temperature management system and is suitable for transporting temperature-sensitive items, including vaccinations and life sciences products.

Regional Insights and Market Segmentation

1. Asia-Pacific Dominates:
Asia-Pacific emerged as the largest region in the boiler, tank, and shipping container market in 2023, driven by technological advancements and a thriving manufacturing landscape. Western Europe secured the second-largest position.

2. Segmentation Overview:

• Type: Power Boiler and Heat Exchanger, Metal Tank (Heavy Gauge), Metal Can, Box, and Other Metal Container (Light Gauge)
• Product Type: Refrigerated Container, Dry Storage Container, Special Purpose Container, Flat Rack Container, Other Product Types
• Container Size: Small Containers, Large Containers, High Cube Container
• Application: Residential, Commercial, Other Applications

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Boiler, Tank, And Shipping Container Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Boiler, Tank, And Shipping Container Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on boiler, tank, and shipping container market size, boiler, tank, and shipping container market drivers and trends, boiler, tank, and shipping container market major players, competitors' revenues, market positioning, and market growth across geographies. The boiler, tank, and shipping container market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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