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United Kingdom Container Fleet Market Analysis from 2022-2031
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The logistics sector is more concerned about the safety and security of goods. On the other hand, manufacturers are using durable materials and advanced technology to build containers and make them more cargo efficient, which in turn is anticipated to boost the container fleet market globally.
The increase in international trade among countries is boosting the logistics sector. Containerization through sea in an intermodal transportation process, which enhances the productivity and improves the overall profitability due to its high load bearing capacity, is driving the market for container fleets. Safety of goods is a priority for any logistics player.
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Expansion of Container Fleet Market
The demand for spacious and durable containers is increasing globally due to the expansion of global supply chain and logistics. Mergers and acquisitions between various companies are boosting the container market. For instance, in July 2021, Hapag-Lloyd successfully acquired Netherlands-based container shipping company Nile Dutch Investments, with over 35 years of experience in the market, NileDutch is one of the leading shipping companies along the West African coast. Headquartered in Rotterdam, NileDutch is present in 85 locations across the world and has 16 offices in the Netherlands, France, Belgium, Angola, China, Singapore, Congo, and Cameroon.
Based on product type, the dry container segment dominated the global container fleet market, in terms of volume and revenue, in 2020. The expansion of eCommerce and digital market is currently boosting cargo services to transport goods from one place to another. Reefer container and tank container segments also held notable market share. They are projected to expand during the forecast period.
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Based on end-user, the oil gas & chemicals segment dominated the global container fleet market, in terms of volume and revenue, in 2020. Transportation of oil gases & chemicals needs a highly precise carriage, as they are expensive as well as hazardous products, which in turn is estimated to propel the demand for containers.
Regional Analysis of Container Fleet Market
In terms of region, the global container fleet market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific held a prominent share of the global market, in terms of revenue, due to its large road connectivity. Growing industrialization in metropolitan areas is another factor boosting the market in Asia Pacific. For instance, rise in transportation activities in India is expected to boost the market, in terms of revenue, in the country. North America is a prominent market, which is expected to offer considerable opportunities over the next few years. Presence of important competitors and large maritime firms and technological advantage are key factors driving the market in the region.
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Container Fleet Market Players
Prominent players operating in the global container fleet market include Hapag Lloyd, Maersk Line, Westfal-Larsen Shipping A/S, Kawasaki Kisen Kaisha Ltd., Evergreen Marine Corporation Ltd., China Ocean Shipping Company, Mitsui O.S.K. Lines, Ltd, CMA CGM, Mediterranean Shipping Corporation S.A., and Hyundai Merchant Marine Co. Ltd.
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