Dublin, March 20, 2023 (GLOBE NEWSWIRE) -- The "Modular Container Market Size, Share & Trends Analysis Report By Type (Mobile, Fixed), By Revenue Source (New Product Sale, Rental), By Usage, By Application, By Region, And Segment Forecasts, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global modular container market size is anticipated to reach USD 49,896.9 million by 2030, registering a CAGR of 7.5% in the forecast period.
Companies Mentioned
- MODULE-T PREFABRIK SYSTEMS DIS TIC LTD STI
- Prefabex
- McGrath RentCorp
- Prefabricated Modular Steel Structures - MODSTEEL
- HENAN K-HOME STEEL STRUCTURE CO., LTD.
- Kwikspace
- Falcon Structures
- Truston
- WillScot Mobile Mini Holdings Corp.
- PODS Enterprises LLC
The demand for modular containers is increasing owing to significant development in industrial infrastructure. These containers are durable and simple to assemble on-site, and they offer various utilities, such as ready-to-use offices, storage containers for warehouse purposes, and commercial office & building construction applications.
Furthermore, these containers offer benefits in construction applications such as residential and commercial buildings among others owing to their cost-effectiveness and sustainability. Another notable advantage of modular containers is their ability to be reconfigured to address the changing needs or requirements of consumers.
The containers can be fully customized as per the customer needs. This allows companies to adapt to changing market conditions without having to actually reconstruct their facilities. Modular containers are also environmentally friendly, using less energy overall than conventional construction methods.
The rapidly growing urban population will increase the demand for modular containers used for various purposes which include accommodation in container homes or office containers. For instance, according to Work Bank data, in 2021, the U.S. urban population was estimated to be 82.9% of the world population. The metropolitan population of the U.S. increased at an annual rate of 0.24% from 73.6% in 1972 to 82.9% in 2021. Furthermore, growing customer demand for portable/mobile storage containers is driving the market growth owing to consumers' shift from traditionally built spaces to on-site space solutions.
Compared to traditional on-site construction, mobile containers can offer several benefits, such as reduced construction costs, overall building lifetime costs, schedules for accelerated construction, and improved energy or seismic performance. Additionally, mobile modular containers are durable, have low maintenance, and can withstand harsh weather conditions.
Most of the key players such as McGrath RentCorp, Falcon Structures, Modulaire Group, and Giant Containers among others operating in the modular container market are adopting various strategies such as partnership, acquisition, merger, and joint venture to capture maximum market share globally.
Several companies continued to confront project delays, and payment delays, and subsequently ended up returning the rented equipment to customers early. Governments across the world continued to impose stricter restrictions as the spread of coronavirus showed no signs of abating and the vaccines got delayed. These restrictions continued to disrupt the supply chains and access to raw materials got harder than ever, which led to more business closures.
Modular Container Market Report Highlights
- In terms of type, the mobile modular container segment accounted for the largest share in 2021 and is expected to dominate the market during the forecast period. With massive population and income growth over the last few decades, there is a significant demand for immediate and accessible housing solutions. Mobile modular containers have emerged as an alternative to address housing issues
- In terms of revenue source, the rental segment accounted for the largest share in 2021 and is expected to dominate the market during the forecast period owing to increased demand from commercial companies for unit leasing/rent. The rental services include delivery, installation, maintenance, and other ad hoc services
- In terms of usage, the storage container segment accounted for the largest share in 2021 and is anticipated to dominate the market during the forecast period. Modular containers are an optimum choice for storage solutions. Storage containers are widely used in sectors such as retail, automotive, and healthcare, among others for warehousing purposes. These containers are a durable, cost-efficient way to store goods
- In terms of container size, the 10-20 feet segment accounted for the largest share in 2021 and is anticipated to dominate the market during the forecast period. A 10-20 feet modular container is the most commonly used modular structure owing to the apt size suitable across most applications such as storage, office space, and sanitary space
- In terms of application, the construction segment is anticipated to witness significant growth during the forecast period. Containers have gained significant popularity in the construction industry owing to their strength, affordability, portability, sustainability, and availability
- Additionally, they provide the necessary security for storing construction tools, equipment, and confidential documents because they are made of heavy-duty steel. These containers also offer climate-controlled workspace in the form of offices, conference rooms, or break rooms, which can be delivered quickly to job sites and can be rented or purchased
- In terms of region, North America dominated the market in 2021. Due to the sheer huge number of modular container providers in the region, the market is likely to maintain its dominance over the forecast period
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $27891.4 Million |
| Forecasted Market Value (USD) by 2030 | $49896.9 Million |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Industry Outlook
3.1. Market Segmentation & Scope
3.2. Modular Container Market Size and Growth Prospects
3.3. Modular Container - Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.2. Market restraint analysis
3.4.3. Market challenge analysis
3.4.4. Market opportunity analysis
3.5. Modular Container- Key Company Analysis, 2021
3.5.1. Key company analysis, 2021
3.5.2. Modular Container key start-up analysis
3.6. Industry Analysis - Porter's
3.7. Modular Container- PEST Analysis
Chapter 4. Modular Container Market: Type Estimates & Trend Analysis
4.1. Modular Container Market: Type Analysis
4.1.1. Mobile Modular Containers market estimates and forecasts, 2017 - 2030 (USD Million)
4.1.2. Fixed Modular Containers market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 5. Modular Container Market: Revenue Source Estimates & Trend Analysis
5.1. Modular Container Market: Revenue Source Analysis
5.1.1. New Product Sales market estimates and forecasts, 2017 - 2030 (USD Million)
5.1.2. Rental market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 6. Modular Container Market: Usage Estimates & Trend Analysis
6.1. Modular Container Market: Usage Analysis
6.1.1. Office Container market estimates and forecasts, 2017 - 2030 (USD Million)
6.1.2. Sanitary Container market estimates and forecasts, 2017 - 2030 (USD Million)
6.1.3. Locker Container market estimates and forecasts, 2017 - 2030 (USD Million)
6.1.4. Showroom Containers market estimates and forecasts, 2017 - 2030 (USD Million)
6.1.5. Accommodation Containers market estimates and forecasts, 2017 - 2030 (USD Million)
6.1.6. Storage Containers market estimates and forecasts, 2017 - 2030 (USD Million)
6.1.7. Others market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 7. Modular Container Market: Container Size Estimates & Trend Analysis
7.1. Modular Container Market: Container Size Analysis
7.1.1. Below 10 Feet market estimates and forecasts, 2017 - 2030 (USD Million)
7.1.2. 10-20 Feet market estimates and forecasts, 2017 - 2030 (USD Million)
7.1.3. 21-40 Feet market estimates and forecasts, 2017 - 2030 (USD Million)
7.1.4. Above 40 Feet market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 8. Modular Container Market: Application Estimates & Trend Analysis
8.1. Modular Container Market: Container Size Analysis
8.1.1. Construction market estimates and forecasts, 2017 - 2030 (USD Million)
8.1.2. Industrial market estimates and forecasts, 2017 - 2030 (USD Million)
8.1.3. Education market estimates and forecasts, 2017 - 2030 (USD Million)
8.1.4. Healthcare market estimates and forecasts, 2017 - 2030 (USD Million)
8.1.5. Automotive market estimates and forecasts, 2017 - 2030 (USD Million)
8.1.6. Others market estimates and forecasts, 2017 - 2030 (USD Million)
Chapter 9. Modular Container Market: Regional Estimates & Trend Analysis
Chapter 10. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/n5xqbz
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