Container Fleet Market - Global Industry Size, Share, Growth, Trends, and Forecast Analysis For 2016 - 2026

Container shipping uses different sizes of containers to transport goods from one place to another. Global merchandise trade is mostly carried out by sea with container shipping accounting for major market share. The global container fleet market was greatly affected by the global economic crisis in the past years. This had created a supply-demand imbalance and lower freight rates. However, in recent years, the market has recovered and is performing better compared to other segments of the shipping industry. The container fleet market is segmented by type and by geography. Based on type, the container fleet market is segmented into reefer container, tank container, and dry container.

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Among all these types, the reefer container segment is anticipated to witness maximum growth in the coming years. Dry containers can be of two types, standard container and special container. Traditionally, dry containers dominated the container fleet market globally, but currently, demand for reefer containers and tank containers have increased across different regions. To meet the changing market demand, major manufacturing companies are focusing on manufacturing temperature controlled containers. Manufacturers are continuously engaged in monitoring the containers in real time during transit. Fruit and vegetable industry is the major user of reefer containers. In terms of volume, this sector would contribute approximately more than half of the global container fleet market. Growing demand for perishable goods will be a major factor boosting the growth of this segment.

The global container fleet market is segregated geographically into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and Latin America. Asia Pacific was the prominent market among all the regions in the global container fleet market in 2015 and this region is projected to retain its dominance over the forecast period. Asia Pacific accounted for the major market share due to the recent increase in manufacturing activities in emerging countries such as Hong Kong, New Zealand, Japan, China, Singapore, Malaysia, and Australia. Among these countries, China has emerged as one of the major manufacturers of container fleet in this region. Major vendors in this region are engaged in technological innovation such as the concentration of ship capacity, improvement in research activities, replacement of lagging yield capacity, and innovative projects for low carbon dioxide emissions. Thus, this country is emerging as the most lucrative market for supply of low cost container fleets in the world. Apart from this, the container fleet industry is majorly dominated by technologically advanced nations in the upcoming future.

The container fleet market is highly consolidated with the presence of limited number of players such as China COSCO Shipping, Maersk, MSC, and CMA CGM. The market is dominated by these major players. However, Chinese manufacturers mostly offer services in the industry. Competition among existing vendors will increases as they compete with each other to gain greater market share. Competition is more concentrated in developed markets such as North America and Europe. Several leading vendors are also entering into joint ventures or strategic partnership agreements to strengthen their market dominance.

Some of the key players in the container fleet market are Maersk, China COSCO Shipping, MSC, and CMA CGM among others. Other prominent vendors in the container fleet market include Hanjin Shipping, Evergreen Marine Corporation, 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) among others.

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