Hazardous Goods Container Market: An Overview
The hazardous goods container is also known as dangerous goods container, which is used in the storage and shipping of chemical or hazardous waste excreted from the industry. Hazardous goods container is custom built according to the requirement to maximize the safety and effect of the containment. It features with durable, strong, and weatherproof that provide excellent service in protecting all short of items at the time of transit. Hazardous goods containers are developed at an excellent level of technology with expertise to protect workers and the general public. The manufacturers of hazardous goods container have to follow the high standards rules made by the regulatory body at the time of manufacturing. Every hazardous goods container is check and tested at a great extent. The hazardous goods that are stored and shipped are classified, labeled, and packaged according to the particular regional standards. The biological and biomedical waste degrades fast and contains an excess of hazardous substances that can affect the general public, so it requires highly sealed and advanced shipping containers for storage and shipping. Manufacturers of hazardous goods containers come with painted, welded, steel bund walls, and lockable facility that provides safety facility from the hazardous goods.
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Hazardous Goods Container Market: Dynamics
The hazardous goods containers market is primarily influenced by the increase in industrialization and cross border trade, which result in excess excretion of industrial waste. Hazardous goods containers are the bulk container with high standard of quality and the only available resource for the storage and shipping excess of hazardous goods. The growth and development in the chemical, pharmaceutical, and healthcare sector are also influencing the demand for hazardous goods container. The high manufacturing cost and its expensive nature resulted in the renting of the hazardous container by the manufacturer, so it results in decreased sales of the container. The increased implementation of MOC policy, where organizational changes occur and increase the risk to safety of employees and environment result in implementation of hazardous goods container. The increase in legal act and regulation towards the hazardous waste disposal and its storage condition is expected to drive the hazardous goods container market. The environment protection act applied for the safety of the environment, and early shipping of hazardous waste is anticipated to drive the hazardous container market. Hazardous goods are transported with the shipping container which is been manufactured according to the guidelines of the regulatory bodies. These are the influencing factors expected to create growth opportunities for hazardous goods containers during the forecast period.
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Hazardous Goods Container Market: Segmentation
The global hazardous goods container market is segmented as follows –
By size, the hazardous goods container market is segmented into –
- Standard
- Customized
- 10 ft
- 20 ft
- 40 ft
By business model, the hazardous goods container market is segmented into –
- Rental & Pooling
- Buying
By end-use, the hazardous goods container market is segmented into –
- Chemicals
- Pharmaceuticals
- Biomedical
- Others
Hazardous Goods Container Market: Regional Outlook
The Asia Pacific is expected to be the prominent market for the hazardous goods container, and China holds the high share of cargo facility supplied to the other country and are involved in a maximum number of foreign trade. Europe is also expected to witness healthy growth during the forecast period for hazardous goods container. It is due to exporter countries such as Belgium, Germany, and Spain holds a good amount of market share for foreign trade through the port.
Recent Developments in the Global Hazardous Goods Container Market
- In February 2019, WiseTech Global acquired Containerchain a leading container solution provider globally. This acquisition will help WiseTech Global a logistic software provider to make its presence in logistic and container industry.
Hazardous Goods Container Market: Key players
Some of the leading players operating in the global hazardous goods container market are as follows –
- ABC Containers, LLC
- Port Containers LLC
- Royal Wolf Holdings Ltd
- Price & Speed Containers Pty Ltd
- ANL Container Line Pty Ltd
- SCF Containers International Pty Ltd
- Boxman Alpha Ltd
The Alberta Health & Safety Code requires employers to provide WHMIS instruction to all workers who work with or are in proximity to regulated goods.
Industries in Alberta that have hazardous goods in their facilities, whether waste products or materials that are used for manufacturing or for any other purpose, must be properly managed.
This means that all employees working around these types of products need WHMIS training Alberta so that they can legally work in these locations.
Of course, you might be wondering what this means.
Global need for oil has gone up since there is a huge growth in the US.
Besides, it is projected by the International Energy Agency, that the United States will drive the global oil supply for the upcoming years, making it a leading oil producer via overtaking Saudi Arabia and Russia in the world.
Opportunities Strict Government Rules and Regulations to offer Robust Opportunities Strict government rules and regulations related to transporting hazardous goods will offer robust opportunities for the market over the forecast period.
Besides, there has been a growing need for other products which are generated or utilized in hospitals and should be transported with utmost care such as clinical waste like surgical instruments which are transported for central decontamination units, healthcare hazardous substances, infectious substances/biological specimens/hospital samples, and radiopharmaceuticals for nuclear medicine.
The market is an evolving sector that got hampered for the ongoing virus for which all forms of operations across the affected countries have been disrupted.
By destination, the domestic destination segment will dominate the market over the forecast period.
