Technavio, a tech-focused market research firm, has published a new report on the global container fleet market, which is expected to experience a steady growth rate with a CAGR of more than 3% during the forecast period 2017-2021.
This latest report by Technavio covers the market outlook and growth prospects of the global container fleet market for 2017-2021, considering 2016 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global container fleet market into the following key regions: The Americas, APAC, and EMEA.
Geographical segmentation of the global container fleet market for 2016 (market share %)
|
APAC |
56.26% |
|
EMEA |
35.16% |
|
Americas |
8.58% |
Source: Technavio
Container fleet market in APAC
APAC is the largest market for container shipping in the world. It has brought many innovative technologies to improve trade such as enhancement of research activities, replacement of lagging yield capacity, the concentration of ship capacity, and new projects for low carbon dioxide emissions. China and India are the highest producers of horticulture products such as fruits and vegetables, ranking number one and two respectively.
According to Sharan Raj, a lead analyst at Technavio, specializing in research on packaging, “The GDP growth rate of APAC is the highest and above the world average growth rate. Such growth will boost the demand for different commodities traded using container fleet. Apart from leading countries like China and India, there is a high market growth in other countries such as Singapore, Hong Kong, and New Zealand, due to the efficient labor market, excellent infrastructure, and good transportation system.”
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Container fleet market in EMEA
The Middle East will boost the growth of EMEA during the forecast period, particularly through the export of petroleum products. The Middle East is among the biggest producers of crude oil. Moreover, the region will be responsible for the higher import of manufacturing commodities during the forecast period. Container traffic is also increasing in the region and to handle it, local ports need to invest in infrastructure. The UAE handles around half of the total container market in the Middle East. Considering the current political and economic conditions in Europe, the market will have a slow growth rate during the forecast period. Germany has emerged as the largest market for commodities because of its strong performance in the end-user sectors and large imports of fruits and vegetables.
Container fleet market in the Americas
Despite the low growth rate in the industry, the market in South America will grow at the highest rate during the forecast period. The key growth driver for the region’s market is heavy investments in port infrastructure improvement projects. Private sector agencies handle most ports in South America resulting in rapid infrastructure development. Moreover, South America is one of the biggest exporters of refrigerated products and comprise developing economies such as Brazil, Argentina, and Chile. The market in North America will also post a higher growth, second to South America because of the scope of its high production and distribution activities. The region has three main shipping fronts, namely the Pacific Coast, the Gulf of Mexico, and the Atlantic Seaboard.
The top leading vendors operating in the global container fleet market are:
- Maersk
- CMA CGM
- MSC
- China COSCO Shipping
Other prominent vendors in the market include 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).
A more detailed analysis is available in the Technavio report titled, ‘Global Container Fleet Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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