Widening trade margins combined with growing emphasis on effective storage across the industries will fuel growth of this market.
DUBAI, UAE / ACCESSWIRE / January 25, 2021 / FMI transport cases and boxes market report projects transport cases and boxes market to be grow at nearly 3% y-o-y in 2021. The latest study tracks global transportation cases and boxes sales in over 20+ countries.
The market has made substantial gains in the recent past, as a result of increase in trade margins across different industries, which bred the development of highly robust packaging and logistical industries across key regions, thereby providing room for introducing innovative transport cases and boxes. However, owing to the economic crisis which is triggered by the coronavirus pandemic, industry's sales is projected to dip a little, as the transport industry has decelerated in the past couple of months.
The market is expected to show significant rise in sales, as countries are reporting an increase in volume of transported goods over the third quarter of 2020. The success with coronavirus vaccine has further led to optimism in this market.
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With US at the forefront, countries like India and China will drive the market in the projected years. India, owing to its successful emerging of healthcare, will steer the growth of demand for transport cases and boxes. China on the other hand, has emerged as one of the leaders in the trade industry in the recent years and it is estimated to grow with an impressive CGAR over the forecasted years 2021-2031."
"With safe and secure packaging gaining precedence, governments worldwide are seeking to enforce regulatory provisions to ensure the same. Key industries such as food & beverages and pharmaceuticals have been at the forefront of such legislations." remarks Future Market Insights analysts.
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Key takeaways from Future Market Insights' transportation cases and boxes study
- By product type, Transport cases weighing less than 20 kilograms are likely to remain highly preferred by key end-use industries, owing to the increase in demand for consumer goods in food & beverages, cosmetics and pharmaceutical.
- Plastic-derived transport cases and boxes are poised to remain popular, attributed to their ease of sourcing and cost-benefits.
- Amongst all end-use industries, the military domain promises to generate substantial expansion opportunities.
- Waterproof cases to show an increase in sales due to an increase of accidents of spilling water while handling goods in the maritime trade.
- US to remain a lucrative market, owing to its increase in boxes adoption. Military segment will generate high demand for transportation cases and boxes
- U.K. to register a steady Y-o-Y growth, due to its surging demand in chemicals & pharmaceuticals sector
- Germany to record a steady rise in its sales due to its demand from the automotive industry
Transport cases and boxes market: Prominent Drivers
- Increase in the rise of the global shipping industry attributed to exploding global trade volumes, which is steering the growth of transport cases industry.
- Standardized specifications have provided a significant ground for the proliferation of transport cases and boxes manufacturers across key regions.
- Vendors are focusing on environmental sustainability concerns, which will increase the demand of eco-friendly packaging.
Transport cases and boxes market: Key Restraints
- Concerns regarding proper disposal, as majority of manufacturers still rely on plastic materials as they are comparatively cheaper.
FMI's report has profiled the below mentioned players within its report such as Pelican Products Inc., PARAT Beteiligungs GmbH, SKB Corporation, Inc., GT Line Srl and many more, which will be available upon request.
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SOURCE: Future Market Insights