Container Fleet Market to Record 5.69 Mn TEU Growth | A.P. Moller - Maersk AS, COSCO Shipping Co. Ltd., and CMA CGM Group emerge as dominant players | Technavio
NEW YORK, Jan. 7, 2022 /PRNewswire/ -- Container fleet Market Facts at a Glance-
NEW YORK, Jan. 7, 2022 /PRNewswire/ -- Container fleet Market Facts at a Glance-
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According to the recent market study by Technavio, the Container Fleet Market Size is expected to increase by 5.69 million TEU million from 2020 to 2025, progressing at a CAGR of 4.53% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth rate, occupying 46% of the global market share. China is the key market for container fleets in APAC. However, the market growth in this region will be slower than the growth of the market in MEA.
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Vendor Insights-
The container fleet market is fragmented due to the presence of many established vendors offering differentiated services. Vendors in the market are competing in terms of revenues, market dominance, geographical presence, product portfolio, and financials. Some vendors are focusing on mergers and acquisitions to strengthen their capabilities and expand their presence.
A.P. Moller - Maersk AS: The company offers a variety of container fleet services such as Less than Container Load (LCL), Maersk ECO Delivery, and others.
COSCO Shipping Co., Ltd.: The company offers shipping industrial clusters, ports industrial clusters, logistics industrial clusters, and others.
CMA CGM Group: The company offers a variety of container fleets such as AKNOUL, CARLA-LIV, and PROSRICH.
Evergreen Marine Corp. (Taiwan) Ltd.: The company offers a variety of container fleets such as L (CSBC), NU, S-series, and others.
Hapag-Lloyd AG: The company offers a variety of container fleets such as Dry Cargo Containers, Special Cargo Containers, and Reefer Cargo Containers.
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Regional Market Outlook
The container fleet market growth in APAC will be significant during the forecast period. The increasing production of horticulture products such as fruits and vegetables in China and India is driving the container fleet market growth in APAC. Also, the emergence of China as the global manufacturing hub for electronics and other commodities will be crucial in driving the growth of the regional market.
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Latest Drivers & Trends Driving the Market-
Intermodal transportation involves the use of different modes of transportation for the transportation of goods. This reduces the cost of transportation and also makes tracking of products easier. Hence, manufacturers across industries such as automotive, consumer goods, and heavy vehicles are increasing their reliance on intermodal transportation for the shipment of products. This is one of the key factors driving the growth of the market.
The oversupply of vessels and low bunk prices have resulted in a decline in the freight rates globally. The industry is currently facing the problem of oversupply and the exceeding number of containers have led to pricing issues, which is making it difficult to predict the demand for container fleets. This is forcing vendors to reduce the prices on the basis of cost per ton or cost per container, which, in turn, is increasing the operational costs. Thus, the declining cost of freight rates is expected to have a negative impact on the growth of the market during the forecast period.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
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Intermediate Bulk Container Market by End-user and Geography - Forecast and Analysis 2021-2025
Container Fleet Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.53% |
Market growth 2021-2025 |
5.69 million teu |
Market structure |
Fragmented |
YoY growth (%) |
2.96 |
Regional analysis |
APAC, Europe, North America, MEA, and South |
Performing market contribution |
APAC at 46% |
Key consumer countries |
China, Germany, US, UAE, and Brazil |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
A.P. Moller - Maersk AS, COSCO Shipping Co., Ltd., |
Market Dynamics |
Parent market analysis, Market growth inducers and |
Customization purview |
If our report has not included the data that you are |
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SOURCE Technavio
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