Shipping industry analysts predict a decline in the global pool of shipping containers for both 2023 and 2024. Factors such as high inflation rates, geopolitical instability, and surplus container sales are contributing to this contraction. The container pool is expected to decrease by 2.6% in 2023, with further shrinkage anticipated in 2024. The oversupply is particularly pronounced in the 40ft high-cube segment, a result of high demand in 2020 and 2021. Industry experts suggest that equilibrium in this segment may not be reached before 2025. The reduction in container purchasing programs by ocean carriers and leasing companies is also contributing to the decline, with a modest recovery expected in 2024. The recovery is linked to replacing aging containers produced during the 2006-2008 bulge in container production. Anticipated growth in container production from 2024 is contingent on a moderate trade recovery and the containerized mode expanding into various freight transport sectors. By 2027, it is estimated that the global container pool will increase by 7% from 2023.

SOURCE: GOOGLE