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Sea-based Vehicle Carrier Market Emerging Top Key Players to Watch- NYK Line, MSC, Sinotrans Logistics and CEVA Logistics in 2018 - 2026

04-19-2019 01:28 PM CET | Industry, Real Estate & Construction

Press release from: Sea-based Vehicle Carrier Market Size

Sea-based Vehicle Carrier Market Emerging Top Key Players

The sea-based vehicle carrier is a vessel specially designed to conduct maritime car trade. The sea-based vehicle carrier has multiple decks of parking spaces and loading spaces. Sea-based vehicle carriers are measured in car equivalent units (CEU) with the largest sea-base vehicle carrier Hoegh Target having a capacity of 8,500 CEU.

Accelerated production of vehicles due to rise in consumption is expected to boost seaborne trade, which in turn is likely to drive the sea-based vehicle carrier market. Demand for foreign vehicles is a major driver of the sea-based vehicle carrier market. Low cost manufacturing and tax benefits in BRICS countries have been instrumental in the establishment of the automotive sector in these countries. Demand for China-manufactured vehicles is increasing in Europe and North America, which in turn is boosting the sea-based vehicle carrier market in these regions. Asia to Europe seaborne trade routes have high operational fleets of sea-based vehicle carrier with Japan, South Korea, and China being major exporters of vehicles to the EU. Automakers such as Hyundai KIA Automotive Group hold 20% stake of EUKOR and CIDCO Shipping Company Limited, thereby establishing their logistics under its own shareholding. Automakers such as General Motors, Ford Motor Company, and Daimler AG have formed long-term strategic co-operation with sea-based vehicle carrier Wallenius Wilhelmsen and HOEGH. Strategic partnerships allow the sea-based vehicle carriers to operate their fleet as per manufacturing expansion plans.

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Development of vessel designs to accommodate more vehicles and operational efficiency are prompting more automakers to rely on sea-based vehicle carriers, thus boosting their market.

The sea-based vehicle carrier market is highly consolidated with key players. Piracy threat and damage to vehicles during transportation act as restraining factors to the sea-based vehicle carrier market.

The global sea-based vehicle carrier market can be segmented based on vessel type, CEU type, application, and region. By vessel type the sea-based vehicle carrier market is segmented under pure car carrying (PCC), pure car/ truck carrying (PCTC), and large car/truck carrying (LCTCs). The PCTCs are capable to carry cars, SUVS, LCVs and Lorries due to its lift-able decks. The demand of PCCs is being replaced by PCTCs as they can accommodate combination of vehicle. The LCTCs type of sea-based carriers have wider stern and a side ramp to load heavy duty commercial and off-road vehicles.

Based on CEU type, the sea-based vehicle carrier market can be classified into < 3,500 CEU and > 3500 CEU. The >3,500 CEU segment is expanding at a considerable pace. Older vessels are being disintegrated and replaced by newer larger vessels owing to rising investments and technological advancements.

In terms of application, the sea-based vehicle carrier market can be segregated into domestic and international. The international segment accounted for a major share of the market, in terms of revenue.

Based on region, the sea-based vehicle carrier market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Key players operating in the global sea-based vehicle carrier market include NYK Line, MSC, Sinotrans Logistics, A.P. Moller –Maersk, “K”- Line Logistics, and CEVA Logistics.

MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.

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The report provides the following information:

Tailwinds and headwinds molding the market’s trajectory
Market segments based on products, technology, and applications
Prospects of each segment
Overall current and possible future size of the market
Growth pace of the market
Competitive landscape and key players’ strategies

The main aim of the report is to:

Enable key stakeholder’s in the market bet right on it
Understand the opportunities and pitfalls awaiting them
Assess the overall growth scope in the near term
Strategize effectively with respect to production and distribution

MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.

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