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Global Foldable Steel Containers Market Size, Share, and Analysis, By Type (Stainless Steel Container, Carbon Steel Container), By Application (Food and Beverage Industry, Agriculture, Pharmaceutical Industry, Others), By Product Type (Straight-Wall Containers, Collapsible Containers, Stackable Containers, Pallet Containers, Mesh Containers and Others) and Regional Forecasts, 2022-2032
Global Foldable Steel Containers Market size was USD 86.7 billion in 2021 and projected to grow from USD 93.4 billion in 2023 to USD 130.9 billion by 2032, exhibiting a CAGR of 3.8% during the forecast period.
Foldable steel containers are the containers used for storage purpose and during transportation of goods in various industries like agriculture, automotive, food and beverage, retail, and logistics. Foldable steel containers are mostly used in industries as storage solutions and can be folded when not in use, which is an effective space and cost-effective solution. They are made using high-quality steel to withstand heavy loads and tough environmental conditions. Foldable steel containers can be stacked upon each other and can increase the storage space. The foldable nature of steel containers makes them ideal for a wide range of applications.
Global Foldable Steel Containers Market is expected to reach USD 130.9 billion, growing at a CAGR of 3.8% during forecast period owing to the requirement of cost and space effective storage solutions which may boost market growth. The rising demand for sufficient material handling solutions and foldable property of steel containers due to the advantage in storage and transportation solutions which can last for long duration and need minimal maintenance are expected to drive the demand for the Global Foldable Steel Containers Market.
Global Foldable Steel Containers Market is classified based on the Product Type into Straight-Wall Containers, Collapsible Containers, Stackable Containers, Pallet Containers, Mesh Containers and Others. The Collapsible Containers segment is expected to dominate the market in the forecast period owing to their capability to fold down flat when not in use. Collapsible Containers are made combining steel and plastic and can be folded when needed to save the space which can be used as storage and during transportation.
Global Foldable Steel Containers Market is classified based on the Application into Food and Beverage Industry, Agriculture, Pharmaceutical Industry, Others. The Food and Beverage segment is expected to dominate the market in the forecast period owing to the usage of foldable steel containers in food and beverage industry for storage and transportation of perishable goods like vegetables, fruits, and dairy products. Features like wired mesh base and sides allow ventilation and prevent spoilage of food.
Growing Demand for Cost Effective Storage Solutions is Expected to Boost the Growth of the Market
Foldable steel containers are a cost-effective option for storage and transportation of goods. Foldable steel containers are long lasting, reusable and can be piled upon one another and are best used for saving space and to reduce the transportation costs. The diversification of manufacturing and industrial sectors is boosting the demand for foldable steel containers market. Foldable steel containers are best option for storage and transportation of goods and are used in manufacturing plants, distribution centres etc. for storing and transporting purposes. The growth of e-commerce websites has increased demand for the growth of the Foldable steel containers market.
The Advancements in Technology Related to Foldable Steel Containers is Expected to Boost the Growth of the Market
The rising advancements in technology related to the design and manufacturing of foldable steel containers have resulted to the development of long lasting, lightweight, and cost-effective containers. Foldable steel containers meet the stringent regulatory standards related to the food and beverage industry which are in high demand and is expected to drive the growth of the market.
Use of Alternative Materials May Restrain the Growth of the Market
Foldable steel containers are well accepted storage and transportation solution but the use of alternative foldable materials like plastic with lighter weight and cheaper price may increase their dominance resulting in the restraining of the Foldable steel containers market. The recycling process of foldable steel containers is expensive which amy hamper the growth of the market.
Global Foldable Steel Containers Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The Asia Pacific region dominated the market in 2021 and is expected to continue its dominance in the forecast period owing to the fast-growing e-commerce sector along with industrialization in countries of this region. The increasing acceptance of foldable steel containers due to the space saving and low-cost transportation in the region is expected to boost the market growth.
The COVID-19 outbreak had resulted in the economic downfall. Several countries had imposed lockdowns and travel bans to control the coronavirus spread. Covid-19 had affected several industries but the demand for Foldable Steel Containers had increased in the pandemic due to the increased scope of e-commerce for online shopping. This h a positive demand for foldable steel containers for storage and transportation of goods. Covid-19 had a positive impact on the growth of the Global Foldable Steel Containers Market.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-20221 |
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Growth Rate |
CAGR of 3.8% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Type |
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Application |
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Product Type |
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By Region |
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Global Foldable Steel Containers Market size was estimated at USD 86.7 billion in 2021 and is expected to reach USD 130.9 billion in 2032.
Foldable steel containers are the containers used for storage purpose and during transportation of goods in various industries like agriculture, automotive, food and beverage, retail, and logistics. Foldable steel containers are mostly used in industries as storage solutions and can be folded when not in use, which is an effective space and cost-effective solution.
Collapsible Containers and Food and Beverage Industry segment accounted for the largest Global Foldable Steel Containers market share.
Key players: Schoeller Allibert, SSI Schaefer, Horen, D.S.Smith, KTP Kunststoff Palettentechnik, Loadhog, Steel King Industries, Wanzl, Bekuplast, CABKA Group, Loadhog and Other Prominent Players are the key players in the Global Foldable Steel Containers Market.
Growing Demand for Cost Effective Storage Solutions and The Advancements in Technology Related to Foldable Steel Containers are the factors driving the Global Foldable Steel Containers market
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