global iso tank container market size was USD 1.35 billion in 2022 and the market is projected to touch USD 3.15 million by 2031, at a CAGR of 15.0% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with ISO Tank container experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a growth of 9.9% in 2021 as compared to 2020.
Market Growth
ISO Tank containers are international intermodal containers manufactured according to the specifications of the International Organization for Standardization (ISO). The cornerstone of such containers is the capability to withstand extreme environments and ensure the structural integrity imposed on them by movement on land or sea. An ISO standardization ensures the container meets the derived size and durability requirements, so it can be safely and evenly stacked on steamboats and trains etc.
COVID-19 IMPACT:
Supply chain crisis became a commonly used term during the COVID-19 pandemic, when COVID-19 caused tremendous economic disruption around the globe. At the beginning of the pandemic, it was anticipated that naval trading, including ISO Tank container trade, would experience a severe downfall. However, variations in shopping and consumption habits caused by the pandemic, integrate with a rise in e-commerce, as well as lockdown measures, has on contrary resulted in increased import demand for fabricated consumer goods, a large chunk of which is moved in shipping containers.
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