The majority of the items surrounding us have probably been traveling in an intermodal container at some point of their lifecycle. Reports reveal that the global shipping container market is projected to grow by over 50% within the next 5 years and reach over $12 billion by 2027. This translates into higher demand and needs for availability of the containers on the market. Just looking at the recent numbers; the growth is enormous, going from 26,5 million TEUs of dry containers in 2010 to 41,5 million in 2020; and experts predict that it shall reach over 53 million TEUs by 2025!
This boost in containers' production and supply should allow players across the logistics industry to easily and efficiently ship their goods. However, the current ecosystem is not optimized. We have never had as many containers on the market as now. Nonetheless, 2021 is known in the industry as the year of "containers shortage," and finding a container to buy or book has been the primary concern of container users. What is the reason? Is there really a container shortage?
Not really..! When aligning the "supply vs. demand" numbers, we realize the number of containers in circulation would cover the global needs. The actual problem is that the existing containers are not managed optimally. Businesses need to find ways to reorganize their container fleet while ensuring recyclability, sustainability, longevity, and profitability.