Shipping containers are large containers that can withstand handling and transportation of goods varying from dry goods to hazardous liquids. Almost 80% of the global merchandize trade is seaborne. Of this, the container fleet market holds the largest market share, accounting for more than 50% of the market and more than one third of the global trade. One of the major reasons for such a high market share is the high efficiency provided by container fleets as compared with other modes of transport such as rail cars, aircraft, and trucks.
Technavio’s analysts forecast the global container fleet market to grow at a CAGR of 3.19% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global container fleet market for 2017-2021. To calculate the market size, the report considers volume based on container fleet capacity for the respective region or the container type. It considers freight volume based on the freight volume shipped by the vendors operating in the market making use of the containers
The market is divided into the following segments based on geography:
Technavio's report, Global Container Fleet Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
China COSCO Shipping
Other prominent vendors
Evergreen Marine Corporation
Hyundai Merchant Marine (HMM)
Kawasaki Kisen Kaisha Ltd. (K Line)
Orient Overseas Container Line
Yang Ming Marine Transport Corporation (Yang Ming)
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
Technavio Announces the Publication of its Research Report – Global Container Fleet Market 2017-2021
Technavio recognizes the following companies as the key players in the global container fleet market: Maersk, CMA CGM, MSC, and China COSCO Shipping.
Other Prominent Vendors in the market are: Evergreen Marine Corporation, Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine (HMM), Kawasaki Kisen Kaisha Ltd. (K Line), Mitsui O.S.K., NYK Line, Orient Overseas Container Line, Yang Ming Marine Transport Corporation (Yang Ming), and ZIM Integrated Shipping Services (ZIM).
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing use of fleet management system. Fleet management systems are formed by the integration of hardware, software, and communication technologies and act as a platform for fleet operators to help in efficient control, tracking, and monitoring of vehicles used for commercial purposes. They improve the overall operational efficiency by reducing non-value added activities of the operators. Fuel cards are used for fuel management while driver safety systems monitor driver behavior.”
According to the report, one of the major drivers for this market is growing intermodal freight transportation. Intermodal transportation is cost-efficient, easy to track and there are few idle periods. It offers door-to-door delivery, a shorter delivery time, safety of the cargo, and the ability to use different routes. The intermodal freight transportation industry is introducing some major advances in technology such as ICT, computerized vehicle routing, active traffic management, and online freight exchange.
Further, the report states that one of the major factors hindering the growth of this market is trade imbalance causing low back-haul utilization rate. Excessive import, as opposed to the volume of exports, leads to accumulation of empty containers and vice versa. This is called trade imbalance in the container shipping industry. Trade imbalance can lead to high cost
Maersk, CMA CGM, MSC, China COSCO Shipping, Evergreen Marine Corporation, Hanjin Shipping, Hapag-Lloyd, Hyundai Merchant Marine (HMM), Kawasaki Kisen Kaisha Ltd. (K Line), Mitsui O.S.K., NYK Line, Orient Overseas Container Line, Yang Ming Marine Transport Corporation (Yang Ming), ZIM Integrated Shipping Services (ZIM).