The Container Fleet by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Container Fleet , 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.
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.
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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
Technological innovation is the key trend gaining popularity in the container fleet market. Companies operating in the container fleet market are adopting new technologies to sustain their position in the market. For instance, in November 2022, American Bureau of Shipping (ABS) Group, a US-based project management service company, launched ABS Wavesight is a new maritime software dedicated to helping shipowners and operators streamline compliance while maintaining competitive, more efficient, and sustainable operations. It combines the industry-leading platforms Nautical Systems and My Digital Fleet, which are collectively installed on more than 5,000 vessels across the global fleet. The flagship products of ABS Wavesight include My Digital Fleet, an AI-driven analytics and performance visualization platform, and Nautical Systems, a fleet management system that provides comprehensive tools to improve reliability and performance.
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
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26. South America Container Fleet Market
27. Brazil Container Fleet Market
28. Middle East Container Fleet Market
29. Africa Container Fleet Market
30. Container Fleet Market Competitive Landscape And Company Profiles
Top Major Players:
- Mitsui O.S.K. Lines Ltd
- Evergreen Marine Corporation S.A
- Mediterranean Shipping Company S.A
- HYUNDAI Merchant Marine Co. Ltd
- China Ocean Shipping (Group) Company
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