Understanding the container market can help you make better business decisions. In this blog, we’ll cover the latest insights and tell you how you can get the best deals on containers.
The container market has grown rapidly over the years. This growth can be attributed to increase in trade between countries. It is also due to the digitization of the shipping industry and the increased use of specialized containers. Moreover, with growing consumer demand the container market has expanded further.
However, the container market is also known for its lack of transparency.
But here at xChange, we offer 100% market transparency to our members when it comes to container prices. On our trading platform, members get their desired containers at their preferred locations without any hidden costs.
Want to know more? Click the banner below to get in touch with our experts. They’ll be happy to give you a demo and answer all your questions.
Container market: Overview and key statistics
The shipping industry is responsible for transporting around 90% of all goods! According to the International Chamber of Shipping, around 11 billion tons of goods are transported via shipping containers each year.
The shipping industry has been expanding over the years. This is due to an increase in global trade and commerce across the globe. More and more countries are now coming into trade agreements with each other, thereby further expanding the shipping and container market.
Although the Covid-19 pandemic negatively impacted the market, there has been a swift recovery. The global shipping container market reached a value of US$ 9.5 billion in 2021. Now, the market is expected to expand at a compound annual growth rate (CAGR) of 12.0% from 2020 to 2028.
For easy understanding, experts have segmented the container market into three broad industries. Read on to know more.
Container market: Segment by industries
Activities in the container market can broadly be divided into three main categories. Here’s an overview of them.
Container manufacturing
Most of the container manufacturing market is dominated by container manufacturing companies in China due to the low cost of steel and labor. Some of the manufacturing top companies in China are CIMC, CXIC, Cosco Shipping Development, and DFIC.
However, countries like India are making strides to break free from this monopoly. Indian businesses relied on China to meet more than 90% of their container requirements. The Covid 19 pandemic and the trade restrictions in China severely impacted India’s trade. Thus, India is now making efforts to cut this dependency and has started manufacturing containers domestically.
Container leasing
Container leasing market has also grown rapidly over the years. In 2021, the global market size for container leasing was valued at $5.2 billion. It’s expected to reach $7.1 billion by 2026, growing annually by 6.4%.
According to our latest report on top leasing companies, almost 52% of containers are owned by leasing companies. And out of this, the top 5 leasing companies account for 86% of the market. Some of the top leasing companies are Triton International, Textainer Group, Florens and Beacon intermodal.
At xChange, you can grow your network and gain access to top container leasing companies in 2500+ locations. Grow your business by leasing containers with full transparency on leasing rates and companies. Click here to know how to get the best leasing rates from top companies.
Container trading
Container trading is more than just buying and selling containers. Carriers buy containers to build their own fleet. Trading companies buy containers to resell them for a higher price. Similarly, leasing companies buy containers to lease them for long-term use in the container market.
If you’re looking to buy or sell containers yourself, our trading platform is perfect for you. You can easily get containers at the best price and trade with 2500+ vetted members on our platform. We have over 10k containers put on sale. So there’s a higher chance to get your hands on the box you’re looking for on xChange than on your current sourcing channel.
Use our public search to find out the container availability and prices at your desired locations.
Or, click here to schedule a call with our experts to find out more.
Similar to segmentation by industries, the container market can also be divided into major geographical locations. Let’s take a look at these major locations.
Container market in different geographical regions
The shipping industry has to be divided in terms of different regions. This is because of the trade flows amongst different geographical locations. Read on to more about these different regions.
Asia
Around 85% of containers are manufactured in China. Being a major exporting hub, it’s easier for companies to load these containers with cargo and ship them to the desired locations without incurring extra costs.
Other countries in Asia have also established themselves in the exporting market. Apple has started producing iPads in northern Vietnam. Microsoft is shipping Xbox game consoles from Ho Chi Minh City. Amazon has been making Fire
TV devices in Chennai, India. This production creates a never-ending demand for containers in Asia.
Americas
Just like Asia is an exporting hub, the US is an importing hub. Earlier, a few major ports like the Port of Los Angeles and Long Beach received most of the cargo. This caused port delays and congestion, thereby disrupting the entire shipping process. To tackle this issue, shippers have shifted to ports on the East Coast. Georgia’s Port of Savannah recorded an increase of 18.5% in imports since last year.
Along with being a major importing hub, The US is also one of the main markets for one-trip containers. When containers are manufactured in China, they’re loaded with cargo and shipped to the US. This not only transports the cargo but also delivers the container to the buyers.
UK & Europe
Similar to the US, the container market in UK & Europe is known for its imports from Asian countries, mainly China. However, the container market has been unstable in the UK and Europe for a while. This is due to the Russia-Ukraine war, Felixstowe and Liverpool strikes, and trade restrictions.
These factors disrupt the container market. Take this example, before the first strike began at the port of Felixstowe, the average container dwell time was 5.5 days. By the tenth day of the strikes, the average number of days a container had to spend at the terminal reached 10.3 days with an 87% increase.
Middle East & Africa
The increase in trade in Africa and the Middle East has resulted in a stable container market in both these regions. This region is also a major transhipment zone and connects the Red Sea, East Africa and the Indian subcontinent. Containers here are moved from one vessel to another to reach the final destination.
Moreover, Dubai has emerged to be the centre of the shipping industry for the Middle East and Africa. Read this blog to find out how the container market has thrived in recent decades in the UAE capital. .
This was just a little summary of what’s happening in the container market in different regions. If you want a more detailed month-to-month analysis, read our “Where are all the containers” report. Get the latest prices, trends, news, and insights on the container market in all the major parts of the world. Click the banner below to download your free report now!
Average prices of containers in shipping container market
Being part of the shipping industry, it’s important for you to know the average shipping container prices. Take a look at the prices for different containers below.
20ft container
A 20ft DC container is one of the most common containers in the market. They’re easy to stack on vessels and cheaper to ship. Here are the average prices of 20ft DC containers in different conditions.
| Condition | Price in the US | Price in China | Price in India | Price in Europe | Price in UAE |
| New | $3271 | $2645 | $3695 | $3176 | $2867 |
| As-is | $1768 | —- | $1511 | $1360 | —- |
| Cargo worthy | $2240 | $1677 | $1988 | $1797 | $1812 |
| WWT | $2166 | $1178 | —- | $1967 | —- |
40ft container
40ft containers are the most popular containers in the container market. They’re suitable for shipping bulky cargo. Shipping companies prefer 40ft containers over two 20ft containers as it’s cheaper in the long run.
Here are the average prices of 40ft containers in different conditions.
| Condition | Price in the US | Price in China | Price in India | Price in Europe | Price in UAE |
| New | $4625 | $4470 | —- | $5092 | $2641 |
| As-is | —- | $3000 | —- | $1893 | —- |
| Cargo worthy | $2886 | $2215 | $2716 | $2331 | $2370 |
| WWT | $2989 | —- | —- | —- | —- |
40ft HC container
40ft high cube container is yet another common container in the market. It has an extra foot in height and is suitable for shipping cargo with additional height. Since it has more space, the price is also higher than regular 40ft containers.
Take a look at the prices below.
| Condition | Price in the US | Price in China | Price in India | Price in Europe | Price in UAE |
| New | $4736 | $4464 | $4441 | $3495 | —- |
| As-is | $2475 | $2261 | $2275 | $2470 | —- |
| Cargo worthy | $3293 | $2796 | $3088 | $2492 | $2728 |
| WWT | $3048 | $3540 | —- | —- | —- |
Now that you have an overview of the average prices, why not go ahead and make a purchase? You’ll get multiple offers from container suppliers in one dashboard. You can compare these prices and choose the best deal yourself on xChange. Interested to give it a try? Just head over to our trading platform and start container trading today.
Since we’re talking about container prices, what if we tell you there’s a way you can find out container prices in real time? Imagine how easy it’ll make it for you to negotiate deals.
Read on to know how you can use xChange’s insights to get this information and make better business decisions.
Want to get real-time container prices globally? Use insights!
You might already know that the shipping industry is not quite transparent. The prices of shipping containers have long remained a mystery. Although companies know what they depend on, it’s pretty difficult to determine the actual prices.
Well, what if we tell you there’s a way you can do that? Imagine finding out the prices of containers in real-time. This can help you identify the best time to trade containers and land the best deal.
Our Insights helps you with exactly this. On Insights, you can get real-time market prices of different container types and sizes in 60 locations globally. We offer a free demo so you can explore Insights and see the benefits yourself.
Want to get started on your free trial? Click here to check out the prices now. Or, do you want to know more about Insights before hopping on board? Talk to our experts as they show you how to use Insights and answer all your questions
But in order to understand Insights better, you’ll need to have a knowledge of the various container types. Read on to find out how the container market is categorized on the basis of container types.
Types of shipping containers in container market
There are different types of containers and each is manufactured to transport different types of cargo. Let’s take a look at the few common types.
Reefer container
Reefer containers are specialized containers that carry temperature-sensitive goods. This includes pharmaceuticals, plants, and food items. Reefers maintain the ideal temperature so your cargo doesn’t get damaged.
Open top
Open top containers have a convertible top made of a trampoline sheet. These containers are ideal for transporting bulky cargo that can’t fit inside a regular container.
Flat rack
A flat rack container only has walls only at the short ends of the container. Since this container doesn’t have any long walls or roofs, it’s ideal for shipping bulky and specialized cargo. This includes heavy machinery, trucks, timber, pipes, etc.
ISO tank
ISO tank containers are designed to transport liquids, gasses and hazardous goods safely. These containers are extremely durable and are specially designed to transport dangerous goods.
This was just an overview of different containers. If you want to read about container types in more detail, check out this blog post.
Speaking of types of containers, you can get each of these on our trading platform. Want to know how? Keep reading to find out.
Container market: How to get containers at best price
Getting containers through the traditional method involves talking to various suppliers to get their rates. Then you have to compare these prices. After long negotiations when you finally land a suitable deal, you’ve to make sure the supplier is trustworthy and genuine.
All of this takes a lot of time, and we know time is extremely valuable in the shipping industry. That’s why we created a trading platform to help you trade containers easily.
Once you become our member, you can browse through 10,000+ containers in 2500+ locations worldwide and buy the one that meets your needs. Just submit your requirements and receive multiple offers from suppliers in one window. Once you compare and find the right rates, you can directly connect with the supplier. Rest assured, all our members go through a vetting process so you can be sure you’re dealing only with trusted companies.
Finally, when you’re satisfied with the prices and ready to make a deal, you can use xChange wallet to make or receive payments. This ensures your money is safe. If you trade containers regularly, xChange wallet makes it easier to keep track of your payments as you only get one invoice from us per month.
Sounds amazing right? So what are you waiting for? You’re just one click away from simplifying your container logistics and trading containers seamlessly. Just click the banner below and schedule a free demo today.
Container market: Common FAQs
What is the average price of 20ft container in container market?
The average price of 20ft DC new container in the container market is $3061. For a cargo-worthy container, it’s $2037. However, container prices fluctuate on a daily basis and depend on a variety of factors like geographical location, demand & supply and market rates.
What is the market value of container market?
The global shipping container market reached a value of US$ 9.5 Billion in 2021. Now, the market is expected to expand at a compound annual growth rate (CAGR) of 12.0% from 2020 to 2028.
