India ISO Tank Container Market 2024–2033

Reports Description

As per the current market research conducted by Custom Market Insight Market Research Team the India ISO Tank Container market is expected to record a CAGR of 3.11% from 2023 to 2030. In 2023, the market size is projected to reach a valuation of US$ 562.90 million. By 2030, the valuation is anticipated to reach US$ 697.49 million

The India ISO Tank Container market refers to the industry in India that deals with the manufacturing, distribution, and transportation of ISO tank containers. ISO tank containers are specialized containers used for the transportation of liquids, gases, and powders in bulk quantities. These containers meet the standards set by the International Organization for Standardization (ISO) and are designed to be transported by various modes of transportation, including ships, trucks, and trains. The India ISO Tank Container market is growing due to the increasing demand for cost-effective and efficient transportation of goods, particularly in the chemical and petrochemical industries.

Mergers and Acquisitions – India ISO Tank Container Market

There have been several mergers and acquisitions in the ISO Tank Container Market in recent years. Some notable examples include:

• In 2021, PEAK Group acquired Singapore-based Tankwell for an undisclosed amount. This acquisition strengthened PEAK Group’s position as a leading global player in the tank container market.
• In 2020, CIMC Tank acquired Germany-based Karl Schmidt Spedition GmbH & Co. KG, which expanded CIMC Tank’s business in Europe and improved its logistics capabilities.
• In 2019, Hoover Container Solutions acquired Container Company Ltd, which expanded its presence in Southeast Asia and the Middle East.
• In 2018, Den Hartogh Logistics acquired InterBulk Group, which created one of the largest global tank container operators.

These mergers and acquisitions have allowed companies to expand their global presence, increase their product offerings, and improve their logistics capabilities.

India ISO Tank Container Market – Growth Factors:

• The growth of the India ISO Tank Container market is driven by various factors, including the increasing demand for efficient and cost-effective transportation of liquids and gases across various industries. ISO tank containers are designed to carry a wide range of products, including chemicals, food and beverage products, and pharmaceuticals, among others. The transportation of these products in ISO tank containers ensures safe and secure delivery, minimizing the risk of contamination or damage during transit.
• The increasing focus on international trade and the growth of the chemical and petrochemical industries in India are also contributing to the growth of the ISO tank container market. With the liberalization of the Indian economy, the demand for ISO tank containers has increased significantly in recent years, as they offer a reliable and cost-effective mode of transportation for international trade.
• Additionally, the growth of the e-commerce sector in India has also led to increased demand for ISO tank containers, as they are widely used for the transportation of goods purchased online, particularly liquids and gases.
• Moreover, the government initiatives such as “Make in India” and “Atmanirbhar Bharat” are expected to further boost the growth of the ISO tank container market in India. These initiatives aim to promote domestic manufacturing and reduce dependence on imports, which is expected to increase the demand for ISO tank containers manufactured in India.

India ISO Tank Container Market – Restraining Factors

The India ISO Tank Container Market faces several restraining factors that may hinder its growth. One of the major factors is the high initial investment required to set up an ISO tank container business. The cost of ISO tank containers is high, and small businesses may find it difficult to enter the market due to the capital-intensive nature of the business.

Additionally, the lack of proper infrastructure, such as storage and transportation facilities, can pose a challenge for the growth of the market. Another factor that may restrain market growth is the high maintenance costs associated with ISO tank containers. As these containers carry hazardous chemicals and materials, they need to be maintained regularly to ensure safety and reliability. Finally, the fluctuation of raw material prices can also impact the market, as it can affect the production costs of ISO tank containers, leading to price fluctuations.

India ISO Tank Container Market – Growth Strategies

Companies operating in the India ISO tank container market can adopt various growth strategies to expand their business and increase their market share. Some of the strategies that can be implemented include:

• Strategic partnerships and collaborations: Companies can form strategic partnerships and collaborations with other players in the market to expand their product portfolio, increase their geographic reach, and leverage each other’s strengths.
• New product launches: Companies can focus on launching new and innovative products to cater to the changing needs of customers and gain a competitive edge in the market.
• Expansion of distribution networks: Companies can expand their distribution networks by adding more distribution centers and increasing their presence in untapped markets to enhance their customer reach and gain a larger market share.
• Acquisitions and mergers: Companies can consider acquiring or merging with other players in the market to consolidate their market position, gain access to new technologies and resources, and increase their market share.
• Focus on sustainability: As the demand for sustainable packaging solutions continues to grow, companies can focus on developing sustainable and environmentally friendly ISO tank containers to attract eco-conscious customers and gain a competitive advantage in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

India ISO Tank Container Market – Key Trends

Some key trends in the India ISO Tank Container market are:

• Growing demand for specialty chemicals: With the growth of various industries such as pharmaceuticals, food and beverages, and chemicals, there is an increasing demand for specialty chemicals. ISO tank containers provide a safe and efficient way to transport these chemicals, which is driving the growth of the market.
• Shift towards sustainable transportation: The Indian government is promoting the use of sustainable transportation methods, such as rail and road transportation. The use of ISO tank containers, which can be easily transported using these methods, is becoming more popular in the country.
• Increasing use of intermodal transportation: The use of intermodal transportation, which involves the use of multiple modes of transportation, such as road, rail, and sea, is becoming more common in India. ISO tank containers are an important component of intermodal transportation, as they can be easily transported from one mode of transport to another.
• Growing demand for bulk liquid transportation: With the growth of industries such as chemicals, food and beverages, and pharmaceuticals, there is an increasing demand for the transportation of bulk liquids. ISO tank containers provide a safe and efficient way to transport these liquids, which is driving the growth of the market.
• Increasing demand for customized tank containers: With the growth of various industries, there is a growing demand for customized tank containers that can transport specific types of liquids. Tank container manufacturers are increasingly offering customized solutions to meet the specific requirements of their customers.

Report Scope

Significant Key Trends in the Market:

The ongoing Russia-Ukraine war has resulted in economic sanctions on multiple countries and supply chain disruptions, causing inflation in various markets worldwide and hindering global economic recovery from the COVID-19 pandemic, at least in the short term.

The growth of the petrochemical industry is expected to be a significant factor driving the expansion of the ISO tank container market in the forecast period. These containers are designed to transport hazardous petrochemicals safely, as they are constructed from stainless steel and equipped with protective layers to resist the corrosive effects of these chemicals. The global petrochemicals market is expected to grow from US$365.67 billion in 2020 to US$429.55 billion in 2021 at a CAGR of 17.5%, Moreover, the International Energy Agency predicts that petrochemicals will account for approximately 50% of the global oil demand growth between 2030 and 2050, contributing approximately 7 million barrels of oil.

The ISO tank container market is being influenced by the use of Internet of Things (IoT) technology for remote monitoring. IoT is a system of internet-connected objects that can collect and transmit data wirelessly without human intervention. Several companies in the ISO tank container industry are increasingly partnering with IoT software providers. For instance, in July 2021, a French chemicals company, Arkema, collaborated with Nexxiot, a Swiss company that offers digital logistics solutions. This partnership aims to digitize Arkema’s ISO tank and rail freight wagon fleets by utilizing Nexxiot’s IoT devices and intelligent cloud platform. This will enable Arkema’s clients to achieve end-to-end visibility, improve quality standards, and enhance the overall service experience.

India ISO Tank Container Market Segment Analysis:

The global market for tank containers is segmented into two categories: those that are less than 30 feet in length and those that are more than 30 feet in length. Currently, the less than 30 feet segment dominates the market with a value of USD 174.34 million and is projected to maintain its lead with a CAGR of 4.5% in the coming years. This segment’s popularity can be attributed to the ease with which it can be transported and transferred from one vehicle to another, whether by rail, road, marine, or air. The 20-foot container is the most widely used size for transporting liquid goods worldwide. In contrast, the segment for containers less than 30 feet holds the smallest market share.

The market for tank containers is segmented by mode into rail, marine, and road transportation. The road segment currently holds the largest market share, followed by rail and marine. However, the rail segment has experienced growth in 2021, with a market value of USD 94.5 million and a CAGR of 5.7%.

Roads offer easy access to every corner of a country, making it convenient to load goods onto trucks and transport them to their intended destinations. While rails can carry large volumes of cargo, they may not reach all parts of a country. Marine transportation is mainly used for export activities between countries, limiting the use of ISO tankers.

The market is also divided by application into marine transportation and land transportation. Currently, land transportation dominates the global ISO Tank Container market with a value of USD 152.67 million. However, marine transportation is expected to grow at a CAGR of 5.5%.

India ISO Tank Container Market – Regional Analysis:

India is one of the fastest-growing economies in the world, with a large chemical manufacturing industry, which makes it a significant market for ISO tank containers. The country is home to various major chemical manufacturing companies, with a rapidly increasing demand for chemicals and petrochemicals. Additionally, the Indian government has been promoting the “Make in India” campaign, which encourages the manufacturing of products within the country.

The western region of India, including Gujarat and Maharashtra, is the largest contributor to the Indian chemical industry. Gujarat alone accounts for more than 62% of the country’s chemical production, making it a crucial market for ISO tank containers. The region has several ports and is well connected through roads and railways, making it an ideal location for chemical manufacturing companies.

The northern region of India, including Delhi, Punjab, and Haryana, is also an emerging market for ISO tank containers. The region has a growing chemical manufacturing industry and is well-connected to the rest of the country through an extensive road and rail network.

The southern region of India, including Tamil Nadu, Karnataka, and Andhra Pradesh, is also a significant market for ISO tank containers. The region has a large number of chemical manufacturing companies, and the presence of several ports and well-developed transportation infrastructure make it an attractive location for ISO tank container suppliers.

In summary, India’s growing chemical manufacturing industry, coupled with government initiatives to promote domestic manufacturing, makes it an important market for ISO tank containers. The western region, particularly Gujarat and Maharashtra, is the largest contributor to the chemical industry, followed by the northern and southern regions.

Competitive Landscape and India ISO Tank Container Market Share Analysis

The aim of this report is to provide stakeholders in the India Tank Container Market with a comprehensive analysis of the industry, including its past and current status, as well as forecasted market size and trends. The report presents complex data in easy-to-understand language and covers all aspects of the industry, including a dedicated study of key players, such as market leaders, followers, and new entrants. Additionally, the report helps to understand the dynamics and structure of the India Tank Container Market by analyzing market segments and projecting market size. Competitive analysis of key players, including product, price, financial position, product portfolio, growth strategies, and regional presence, is also presented, making the report a valuable resource for investors.

List of the prominent players in the India ISO Tank Container Market:

• Singamas Container Holdings Limited
• Welfit Oddy (India) Pvt Ltd.
• Sintex-BAPL Limited
• Ocean Tankers (Pte) Ltd.
• EXSIF Worldwide Inc.
• Suretank India Pvt Ltd.
• Nantong CIMC Tank Equipment Co. Ltd.
• Newport Tank Containers (India) Pvt Ltd.
• BS Tankers LLP
• UBH International Limited

The India ISO Tank Container Market is segmented as follows

By Container Type

• ≤30 ft
• >30 ft

By Mode of Transportation

• Rail
• Marine
• Road

By Application

• Chemicals
• Pharmaceuticals
• Petrochemicals
• Food and Beverage
• Others

By Region

Asia Pacific

• India