Container Fleet Market size to grow by 24.91 million teu from 2022 to 2027, Growing intermodal freight transportation to boost the market growth

Jun 10, 2023

NEW YORK, May 15, 2023 /PRNewswire/ -- The global container fleet market size is estimated to grow by 24.91 million teu from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 8.11% during the forecast period. APAC is estimated to account for 45% of the global market growth. The region has brought many innovative technologies to improve trade, such as the replacement of lagging yield capacity, enhancement of research activities, the concentration of ship capacity, and new projects for low carbon dioxide emissions. China and India are the highest producers of horticulture products, including fruits and vegetables, holding first and second ranks, respectively. The country is a major exporter of goods worldwide. The presence of China strengthens the growth of the market in APAC. Hence, such factors drive the market growth of container fleets during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Global competitiveness and key competitor positions

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Container Fleet Market - Segmentation AssessmentSegment OverviewThis report extensively covers market segmentation by type (dry containers, reefer containers, and tank containers), End-user (metals and minerals, automotive, oil and gas, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

The market share growth of the dry containers segment will be significant for overall market growth during the forecast period. Dry cargo containers are designed and constructed to transport non-perishable cargo using intermodal freight transportation via sea, road, and rail for better readability. The demand for these containers is expected to arise mainly due to the growth in agriculture and the manufacturing of electronic goods, home appliances, textiles, and other bulk materials. Hence, the growing demand for more commodities and goods will drive the demand for dry containers.

Insights on the market contribution of various segments including country and region wise, historic (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report

Container Fleet Market – Market DynamicsKey factor driving market growth

The growing intermodal freight transportation is notably driving the container fleet market growth.

Intermodal transportation uses different modes of transportation to transport goods from one region to another thus contributing to the growth of the market. This mode of transportation is cost-efficient and easy to track, and there are few idle periods.

The industry introduced some major advances in technology such as ICT, computerized vehicle routing, active traffic management, and online freight exchange.

Industries such as automotive, consumer goods, and heavy vehicles rely more on this mode of transportation for the shipment of their products.

Furthermore, the market has been dominated by the railroad segment because of less connectivity between rail routes and shipping terminals. But road-water transportation is a rapidly growing segment of the global intermodal freight transportation market.

Leading trends influencing the market

Strategic moves by vendors for profit-making are major market trends influencing the growth of the market.

Some of the strategies employed by vendors include supply chain optimization and an increase in operational productivity.

Businesses have reduced the geographical divide, and the interdependency between verticals has increased, making it necessary for companies to reduce the complexity of supply chains.

This can be achieved by implementing an appropriate intermodal freight transportation solution.

The need to increase operational efficiency is another major move by vendors. The decreasing profits led to a demand for increased operational efficiencies. High utilization of fleet capacity is one of the ways of increasing profit margin.

Various companies also undergo a change in their business strategies with a focus on inventory and warehouse planning, which will further support market growth.

Major challenges hindering the market growth

The low freight rates can be attributed to factors such as the oversupply of vessels and low bunker prices, which is the biggest challenge for the market.

The industry faces the problem of oversupply and the supply of containers has far exceeded their demand, leading to pricing issues, which is difficult to predict the demand for container fleets.

Owing to the current low demand, pricing is initiated by the buyers and not the shippers.

Since the industry has more ships than required, companies tend to reduce prices either on the basis of cost per ton or cost per container.

The reduction in freight prices has also resulted in operating costs exceeding the earnings.

Additionally, the industry is facing a financial crisis because of heavy debts.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Container Fleet Market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the container fleet market between 2023 and 2027

Precise estimation of the size of the container fleet market and its contribution to the market with a focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the container fleet market across APAC, Europe, North America, Middle East and Africa, and South America

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of the container fleet market vendors

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The shipping container market size should rise by 22.29 million TEU from 2022 to 2026 at a CAGR of 8.78%. Furthermore, this report extensively covers market segmentation by type (dry containers, reefer containers, tank containers, and special containers) and geography (APAC, North America, Europe, South America, and MEA). The growing global shipping container liners traffic is notably driving the market growth.

Container Fleet Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 8.11%

Market growth 2023-2027

24.91 million teu

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.5

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 45%

Key countries

US, United Arab Emirates, China, Germany, and Brazil, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AP Moller Maersk AS, Arkas Container Transport SA, CMA CGM Group, COSCO Shipping Co., Ltd., CSI Group LLC, Evergreen Marine Corp. (Taiwan) Ltd., Hapag Lloyd AG, Hyundai Merchant Marine (Europe) Ltd., Kawasaki Kisen Kaisha Ltd., Mitsui O.S.K. Lines Ltd., MSC Mediterranean Shipping Co. SA, Nippon Yusen Kabushiki Kaisha, Orient Overseas Container Line Ltd., Pacific International Lines Pte. Ltd., Unifeeder AS, Wan Hai Lines Ltd., Westfal-Larsen Shipping AS, X-Press Feeders Ltd., Yang Ming Marine Transport Corp., and ZIM Integrated Shipping Services Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global container fleet market 2017 - 2021

4.2 Type Segment Analysis 2017 - 2021

4.3 End-user Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Type

6.1 Market segments

6.2 Comparison by Type

6.3 Dry containers - Market size and forecast 2022-2027

6.4 Reefer containers - Market size and forecast 2022-2027

6.5 Tank containers - Market size and forecast 2022-2027

6.6 Market opportunity by Type

7 Market Segmentation by End-user

7.1 Market segments

7.2 Comparison by End-user

7.3 Metals and minerals - Market size and forecast 2022-2027

7.4 Automotive - Market size and forecast 2022-2027

7.5 Oil and gas - Market size and forecast 2022-2027

7.6 Other - Market size and forecast 2022-2027

7.7 Market opportunity by End-user

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 North America - Market size and forecast 2022-2027

9.6 Middle East and Africa - Market size and forecast 2022-2027

9.7 South America - Market size and forecast 2022-2027

9.8 China - Market size and forecast 2022-2027

9.9 Germany - Market size and forecast 2022-2027

9.10 US - Market size and forecast 2022-2027

9.11 United Arab Emirates - Market size and forecast 2022-2027

9.12 Brazil - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 AP Moller Maersk AS

12.4 Arkas Container Transport SA

12.5 CMA CGM Group

12.6 COSCO Shipping Co., Ltd.

12.7 CSI Group LLC

12.8 Evergreen Marine Corp. (Taiwan) Ltd.

12.9 Hapag Lloyd AG

12.10 Hyundai Merchant Marine (Europe) Ltd.

12.11 Kawasaki Kisen Kaisha Ltd.

12.12 Mitsui O.S.K. Lines Ltd.

12.13 MSC Mediterranean Shipping Co. SA

12.14 Nippon Yusen Kabushiki Kaisha

12.15 Orient Overseas Container Line Ltd.

12.16 Pacific International Lines Pte. Ltd.

12.17 Unifeeder AS

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com/

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