Overview and Scope
A container fleet is also a cargo fleet that uses containerization to carry all of its cargo in bigger-size intermodal containers. It is used to keep or store items, such as a box or bottle.
Sizing and Forecast
The container fleet market size has grown strongly in recent years. It will grow from $12.91 billion in 2023 to $13.86 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to economic growth in emerging markets, larger vessels and mega container ships, infrastructure development at ports, globalization of supply chains, containerization trends.
The container fleet market size is expected to see strong growth in the next few years. It will grow to $18.24 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to e-commerce growth, resilience and supply chain optimization, shift in manufacturing centers, environmental sustainability, capacity and container shortages. Major trends in the forecast period include rise of intermodal transportation, technological integration for container tracking, focus on environmental sustainability, growing demand for reefer containers, automation and smart containers, digitalization of documentation processes.
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Segmentation & Regional Insights
The container fleet market covered in this report is segmented –
1) By Type: Dry Container, Reefer Container, Tank Container, Special Container, Other Types
2) By Application: Consume Goods Transport, Industrial Transport, Food Transport
3) By End-User: Automotive, Mining And Minerals, Oil Gas And Chemicals, Food And Agriculture, Retails
Asia-Pacific was the largest region in the container fleet market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the container fleet market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The raising demand for cargo transportation through ships is expected to propel the growth of the container fleet market going forward. Cargo transportation also known as freight transportation refers to transporting products or commodities from one location to another where large amounts of goods or commodities can be transported by cargo, which often travels quickly to its destination. Hence, the growing cargo transportation will result rise in demand for container fleets. For instance, in November 2022, according to U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS), long-term projections show that U.S. freight activity will grow by fifty percent in tonnage to 28.7 billion tons and will double in value. Therefore, the rising demand for cargo transportation through ships is driving the demand for the container fleet market.
Key Industry Players
Major companies operating in the container fleet market are focusing on product innovations, such as container fleets running on bio-methanol, to achieve investing in green methanol as a key part of their strategy. Container fleets running on bio-methanol contribute to a sustainable and environmentally friendly shipping industry by reducing carbon emissions and reliance on traditional fossil fuels. For instance, in November 2022, Maersk, a Denmark-based shipping and logistics company, unveiled the world’s first container ship running on bio-methanol, named the Laura. This is a significant step in the company’s efforts to lower its carbon footprint. It is equipped with a dual-fuel engine and will be able to transport 2,136 20-foot containers.
The container fleet market report table of contents includes:
1. Executive Summary
2. Container Fleet Market Characteristics
3. Container Fleet Market Trends And Strategies
4. Container Fleet Market – Macro Economic Scenario
5. Global Container Fleet Market Size and Growth
…
31 Global Container Fleet Market Competitive Benchmarking
32. Global Container Fleet Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Container Fleet Market
34. Container Fleet Market Future Outlook and Potential Analysis
35. Appendix
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