The container washing system industry was valued at approximately US$ 720.45 million in 2019 and is anticipated to grow to around US$ 845.44 million by 2027, reflecting a compound annual growth rate (CAGR) of 2.88% from 2020 to 2027.
Due to rapid technological advancements and shifting consumer preferences alongside evolving regulations, the current business landscape has become increasingly volatile and intricate. To adapt to these market changes, many organizations are opting for rental models instead of outright ownership of assets. This approach not only helps companies reduce costs and avoid maintenance responsibilities but also enhances flexibility within supply chains. Additionally, the growing number of small and medium-sized enterprises (SMEs) globally is contributing to the rising demand for rental containers, as these businesses prefer to allocate resources towards developing their core competencies rather than investing in non-essential assets. Companies in the food and beverage sector, as well as those in the fast-moving consumer goods (FMCG) industry, are particularly sensitive to shifts in consumer behavior. Consequently, the increasing popularity of container rental models is driving notable growth in the container washing system market.
The COVID-19 pandemic has significantly impacted supply chains and the manufacturing of industrial equipment. The global spread of the virus and subsequent lockdowns have led industry experts to predict a potential delay of up to a quarter in the supply chain for industrial equipment. This disruption is expected to reverberate through 2020 and into mid-2021. However, as governments worldwide gradually lifted containment measures to stimulate economic recovery, the manufacturing sector is expected to regain momentum sooner. The production of industrial equipment, including container washing systems, is projected to accelerate starting in 2021, which will positively affect the overall manufacturing landscape.
The container washing system market is categorized by technology and application. In terms of technology, the market is divided into automatic and semi-automatic container washing systems. The automatic segment held the largest share of the market during the forecast period. Regarding applications, the market is further segmented into food and beverage, chemical, healthcare/pharmaceutical, oil and gas, and others. In 2019, the food and beverage sector represented a substantial portion of the global container washing system market.
The overall size of the container washing system market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. This approach also aids in providing an overview and forecast for the container washing system market across all segments. Furthermore, it offers insights and forecasts for the global container washing system market segmented by five major regions: North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Primary interviews were also conducted with industry participants and experts to validate the data and gain deeper analytical insights. Participants typically include industry professionals such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the container washing system market.
Key players in the global container washing system market include Dyetech Equipment Group, Inc., Feistmantl Cleaning Systems GmbH, Glatt GmbH, HOBART GmbH, K?rcher Cleaning System Pvt. Ltd., Numafa Cleaning & Automation BV, PRI PRI Systems, Rotajet Systems Ltd., SF Engineering, and SRS Engineering Corporation.