LONDON, July 18, 2022 /PRNewswire/ — The container shipping market is valued at $5.01 billion in 2017 and should reach $11.40 billion by 2027 with a 8.6% CAGR over the forecast period. Container Shipping Market Size By Container Size (Small Containers (20ft), Large Containers (40ft), High Cube Containers (40ft)), By Product Type (Dry Storage Containers, Dry Storage Containers, flat, refrigerated containers, special purpose containers, Others), by end use (food and beverages, consumer goods, healthcare, industrial products, vehicle transport, other) Analysis report, regional outlook, growth potential, competitive market share and forecast, 2021-2027
Container ships are common means of transport by sea. These vessels carry cargo or truck-sized intermodal containers that carry loads to be transported around the world. Containers have standardized dimensions and these intermodal freight container systems refer to containerization. Typical container sizes are measured in twenty-foot equivalent units (TEUs). The first container ship was designed at the end of the 18th century in England carry standard load units. Shipping costs and time have been reduced due to containerization, resulting in growth in international trade. Therefore, container transport is very flexible with low energy consumption and provides great protection for goods. In the current scenario, more than 90% of non-bulk cargo is transported by containerization and the largest container ship can carry more than 23,000 TEUs.
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Container Shipping Market: Competitive Analysis
The major players in the global container shipping market are Bertschi AG, BNH Gas Tanks, Bulkhaul Limited, Anteco Industries BV, NewPort Tank. AP Moller-Maersk, China International Marine Containers (Group) Ltd, COSCO SHIPPING Development Co., Ltd., CXIC Group, Singamas Container Holdings Limited, TLS Offshore Containers/TLS Special Containers, W&K Containers, Inc., Thurston Group Limited, OEG , Sea Box, Inc., IWES LTD and Norcomp Nordic AB. Companies in the global container shipping market in 2021 will have to recover from the setback of the pandemic by making their operations safer and less costly.
- Mediterranean shipping company
- China shipping company
- One-Ocean Network express
- Hyundai Merchant Navy
Container Shipping Market: Key Drivers
The growth of the global container shipping market will depend on the different types of markets and the sea freight trade is witnessing an increase in the demand for waterborne freight and transportation. The factors supporting this upsurge are profitability and cargo security. Freighters are also cheaper for transporting goods compared to air and road transits. Ships can transport more goods from place to place in a shorter period of time.
Growth is occurring more in developing countries and accounts for a significant share of world trade in terms of imports and exports. Emerging economies will contribute strongly to this share. In addition, the growth in the number of port capacities will propel the demand for new containers in this market. In the years to come, trade will experience considerable growth.
Intermodal freight transport also offers freight savings and is a more environmentally friendly option while transporting the product a longer distance. Optimizing the relative strength and efficiency of each transportation method can help reduce cargo handling, loss and damage and also allow goods to be transported more safely while reducing costs. Adding intermodal to the transportation mix can provide visible cost savings.
Incorporating multiple modes of transportation into a carrier base reduces dependence on a single source of capacity. Supply chain leaders using multimodal freight movements could realize both long-term and short-term benefits by leveraging the strengths of each mode of transportation. In addition to shipping companies, road and rail transport is growing and transporting everything from grain and coal to raw materials and manufactured goods, including cars and furniture.
Container shipping market: key trends
The global container shipping market trend suggests that the COVID outbreak has had a negative effect on the market. The pandemic has also led to social distancing norms and lockdowns around the world as countries try to contain the spread of the virus, causing a major disruption in the market supply chain. China was at the forefront of the disease and its spread and is also the leading exporter to the market, then the trade war between the United States and China will show a decline in trade.
China is one of the leading exporters of consumer goods worldwide and the drop in exports due to the coronavirus has had a significant impact on the container market. Although the container shipping market in 2022 looks good, the vaccination campaign has taken place and it has helped the market to return to normal.
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Container Shipping Market: Segmentation Analysis
Global container shipping market statistics suggest that, depending on the product, the ISO container has led the market growth with the use it has seen in international trade around the world. On the basis of type, dry containers have witnessed growth in the market and will continue to see massive application globally. They are good because they prevent damage to goods inside hard goods. Based on application, the industrial transportation segment is going to witness the highest growth in segmentation.
Container Shipping Market: Regional Analysis
The global container shipping market in terms of region has been dominated by the Asia Pacific market with the major exporters being countries like South Korea and China. Even after the pandemic, these are the countries that have emerged at the top of the growth chain with countries showing continued levels of development. Asian countries comprise almost all major ship producers in the market, with export, inter-regional trade activities and expansion of manufacturing activities in these countries driving the market growth.
These are also some of the most emerging countries and are major market contributors for the global industry. Merchandise trade is also growing in these regions internally and this is growing the market. Europe is the second largest market for containers and will experience considerable export market growth in the post-pandemic period. The world will see an excess of trade Europe and it will expand that market as well.
The Special Requirement Container Shipping Market report is also available for the region below:
- Germany, FranceUK, Italy, Spain, Sweden, Netherlands, Turkey, Swiss, BelgiumRest of Europe
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, IndonesiaRest of APAC
- Mexico, Colombia, Brazil, Argentina, PeruRest of Latin America
Middle East and Africa
- Saudi ArabiaWATER, Egypt, South AfricaRest of MEA
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