Americas ISO Tank Container Market Size is Expected to Grow to $572.15 Million by 2029

Americas ISO Tank Container Market Overview

According to Global Market Monitor, the global ISO tank container market size will reach $489.05 million in 2024 and is expected to grow to $572.15 million by 2029.ISO Tank Container is built to the ISO standards, making it suitable for different modes of transportation. Both hazardous and non-hazardous products can be transported in tank containers.

Market Segment

Based on mode of transport, the market is segmented into sea and land transport, with the land transport segment accounting for the largest market share. Transporting large quantities of goods between large countries requires an efficient logistics support system and a targeted approach to solving the transportation task. The demand for the road sector is increasing due to the significant improvement in the productivity of road vehicles and the quality of road infrastructure, as well as the phasing out of regulations restricting road transport. In addition, sea freight has a large share in this market as it can transport goods over long distances. International maritime trade, the global economy, transport costs, political events, and the average profit achieved are some of the factors that influence the growth of maritime transport.

Market Drivers

Bulk shipping looks promising at the present and will keep increasing during the anticipated period. The significant factors being causative are the demand for bulk commodities such as coals, iron ore, and steel products which include coils, plates, rods, and other commodities.

The demand for bulk shipping is mainly driven by the expansion of seaborne trade and the rise in iron ore and coal transportation. Even in International trade, the bulk transport of raw materials, and the import & export of food and manufactured goods are essential to stable an economy, which is another factor responsible for the growth of the market.

ISO tanks can transport up to 60% to 70% more liquid cargo than drums on dry box containers. Furthermore, loading & discharge is safer, faster, and often cheaper than drums and flexibags. Tanks are manufactured from stainless steel, which offers high corrosion resistance and can withstand extreme forces vis-à-vis drums or flexibags. These factors are driving the ISO tank market.

Market Limitations

The Americas has strict safety management and oversight in most aspects of the chemical industry. In particular, the production and transportation enterprises of hazardous chemicals will restrict the development of the ISO tank container industry to a certain extent in the short term. Due to the high scale, capital, and technical requirements of the ISO tank container industry, it is difficult for new entrants to develop, so the industry concentration is also high.The ISO tank container industry requires a large number of large, high-quality ISO storage tank containers, so the initial cost required is high, the capital requirements are large, and subsequent consumption of large amounts of funds due to wear or maintenance will limit the development of the industry.

Drivers	Growth of the Global Bulk Trade
	Product Superiority
	Continuous Development of the Transportation Industry
Limitations	High Initial and Maintenance Costs
	Strict Supervision and High Requirements
	High Requirements on the Company's Size, Capital, and Technology