Press release
Container Fleet Global Market Report 2024 - By Size, Share, Demand, Drivers, Forecast To 2033
Container Fleet Market
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.
Market Overview -
A container fleet is also a cargo fleet that uses containerization to carry all of its cargo in bigger-size intermodal containers. It is used to keep or store items, such as a box or bottle.
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Rising Demand For Cargo Transportation Boosts Growth In The Container Fleet Market
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.
Competitive Landscape -
Major companies operating in the container fleet market report are 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, Maersk Line Limited A/S, CMA CGM S.A., Kawasaki Kisen Kaisha Ltd., Westfal-Larsen Shipping A/S, Hapag-Lloyd Aktiengesellschaft, A.P. Moller - Maersk A/S, China COSCO Shipping Corporation Limited, Nippon Yusen Kabushiki Kaisha (NYK Line), China International Marine Containers (Group) Co. Ltd., China Shipping Container Lines Co. Ltd., Yang Ming Marine Transport Corporation, ZIM Integrated Shipping Services Ltd., Hamburg Südamerikanische Dampfschiffahrts-Gesellschaft KG, Orient Overseas Container Line Limited, Wan Hai Lines Co. Ltd., Pacific International Lines Pte. Ltd., Sinotrans Limited, SITC International Holdings Co. Ltd., Islamic Republic of Iran Shipping Lines, Arkas Container Transport S.A., NileDutch B.V., Seaco Global Limited, Textainer Group Holdings Limited, Matson Navigation Company Inc., Seaspan Corporation
Abs Group's Innovative Abs Wavesight Platform Redefines Maritime Software
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.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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