Global Container Fleet Market: Overview
The conceptualization of container fleet refers to the transportation industry through sea, which ships goods worldwide. The concept of container fleet is also known as containerization which is an intermodal transportation. Transporting good through is the cheapest form of shipping in the intermodal transportation across the globe. The container fleet market is growing at a significant pace due to the increase in use of high capacity vessels which reduces the cost of each container being loaded on to the vessel, and increasing use of fleet management systems.
The major driving factor the market for container fleet is growing demand for intermodal transportation for inter-country as well as inter-continental transportation. The large steel containers are transported through various modes of transportation such as from waterways, to railways or roadways without unloading or reloading the goods from the container. This benefit in the field of containerization is impacting hugely on the container fleet market. In addition, the need for refrigerated cargo containers is also in demand and is expected to boost the container fleet market over the years. The refrigerated cargo containers are used to transport temperature controlled goods such as fresh vegetables, fruits, medicines, and even meat. These refrigerated cargo containers are also used to store the goods temporarily with minimum warehouse facility.
The non-availability of some ports or terminals with container handling facility is limiting the cargo carriers market which in turn is hindering the growth of the market for container fleet in those regions. The handling of containers in the ports or terminals requires sophisticated equipment to limit unavoidable situations. Moreover, small ports are unable to handle large ships or vessels due to their limited facilities, and the cargo carriers need to operate small ships or barges which increases the cost of entire transportation. This factor is also inhibiting the growth of the market for container fleet.
Incorporating analytics in the container fleet market acts as a potential opportunity in the container fleet market to grow over the period. Analytics helps the container fleet market with issues related to network such as container utilization, vessel deployment and terminal operations. Another advantage of incorporating analytics is it helps in understanding the recent trends in the industry as well as forecast mid and long term outlook.
Global Container Fleet Market: Segmentation
The container fleet market is segmented on the basis of types, end user and geography. By types, the container fleet market is segmented as reefer container, dry container and tank container. In the types segment, dry container held the largest market share in 2016 and reefer container is projected to be the fastest growing segment due to the growing need for transportation of goods that requires temperature maintenance.
Based on end user, the container fleet market is segmented as automotive, oil, gas and chemicals, mining and minerals, food and agriculture, retails and others. The others segment includes electronics, pharmaceuticals, and energy among others. The automotive industry captured the largest market in 2016 and mining and minerals is anticipated to be the fastest growing end user segment.
Geographically, the container fleet market is segmented as North America, Europe, Asia Pacific, Middle East and Africa and Latin America. The largest market share in the market for container fleet in 2016 was captured by Asia Pacific and it is also estimated to be the fastest growing region globally followed by Europe, North America, Middle East and Africa and Latin America.
Companies Mentioned in the Report
The major vendors in the container fleet market are CMA CGM (France), Hapag Lloyd (Germany), Mediterranean Shipping Company S.A. (Switzerland), Maersk Line (Denmark), Mitsui O.S.K. Lines (Japan), China Ocean Shipping Group Company (China), Westfal-Larsen Shipping A/S (Norway), Evergreen Marine Corporation (Taiwan) Ltd. (Taiwan), Hyundai Merchant Marine Co. Ltd. (South Korea), and Kawasaki Kisen Kaisha Ltd. (Japan).
The segments covered in the global container fleet market are as follows:
By End User
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