LONDON, July 18, 2022 /PRNewswire/ — Container Shipping Market is valued at USD 5.01 Billion in 2017 and is expected to reach USD 11.40 Billion by 2027 with a CAGR of 8.6% over the forecast period. Container Shipping Market Size By Container Size (Small Containers (20 Feet), Large Containers (40 Feet), High Cube Containers (40 Feet)), By Product Type (Dry Storage Containers, Flat Rack Containers, Refrigerated Containers, Special Purpose Containers, Others), By End Use (Food & Beverages, Consumer Goods, Healthcare, Industrial Products, Vehicle Transport, Others) Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Container Ships are common means of transport through sea-route. These ships carry truck-sized intermodal freights or containers which carry loads to be transported globally. The containers have standardized dimensions and these intermodal freight container systems refer to as containerization. The typical size of containers is measured in terms of twenty-foot equivalent units (TEU). First container ship was designed in late 18th century in England to carry standardized load units. Shipping expenses and time has been lowered due to containerization which leads to growth of international trade. Hence container shipping is highly flexible with low energy consumption and provides great protection to goods. In present scenario, more than 90% of non-bulk cargo is transported via containerization and largest container ship can carry over 23,000 TEU.
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Container Shipping Market: Competitive Analysis
The global container shipping market key players are Bertschi AG, BNH Gas Tanks, Bulkhaul Limited, Anteco Industries BV, NewPort Tank. A.P. 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. The global container shipping market companies 2021 will need to recover from the pandemic setback by making its operations safer and less costly.
Maersk
Mediterranean Shipping Company
China Ocean Shipping Company
CMA-CGM
Hapag-Llyod
One-Ocean Network express
Hyundai Merchant Marine
Others
Container Shipping Market: Key Drivers
The global container shipping market growth is going to be dependent on the different kinds of markets and the seaborne cargo trade is seeing an upsurge in demand for the cargo and transportation through waterways. The factors which back this upsurge is the cost effectiveness and the safety of cargo. The cargo ships are also less expensive for shipping goods when compared to the air and road transits. The ships can carry more cargo from one place to the other in a shorter span of time.
The growth is happening more in the developing countries, and it is accounting for a major share of global trade in terms of imports and exports. Emerging economies are going to be contributing heavily to this share. Further, the growth in the number of port capacity is going to propel the demand for the new container shipping in this market. In the coming years the trade will grow by a sizable margin.
Intermodal freight transport also offers savings in freight and is a more environment-friendly option while transporting the product over a longer distance. The optimization of each transport method’s relative strength and its efficiency can help in the reduction of handling cargo, loss and damage and also enable the freight to be transported in a more secure manner while reducing costs. Addition of intermodal to the mix in transportation can offer visible cost savings.
The incorporation of many mores of transportation into a carrier base reduces the reliance on a single capacity source. The leaders of supply chain who use the multimodal freight moves might realize the long-term and short-term benefits by the leveraging of strengths of every mode of transportation. In addition to the shipping companies, the road and rail transportation is growing and moving everything from the grain and coal to raw materials to the manufactured goods including the cars and furniture.
Container Shipping Market: Key Trends
The global container shipping market trend suggests that the COVID outbreak worked negatively for the market. The pandemic also resulted in the social distancing norms and lockdowns all over the world with countries trying to contain the spread of the virus and this caused a major break in the supply chain of the market. China was at the forefront of the illness and its spread and is also the leading exporter in the market and then the trade war between US and China is going to show a drop in trade.
China is among the major exporter of the consumer goods all over the world and the declining exports due to coronavirus has impacted the market significantly for the containers. Though the container shipping market 2022 looks good as the vaccination drive has taken place and that has helped the market get back to normal.
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Container Shipping Market: Segmentation Analysis
The global container shipping market statistics suggests that as per the product, the ISO container led the market growth with the usage it saw in the international trade in the world. On the basis of type, the dry containers saw a growth in the market and will continue to see massive application in the world. They are good as they prevent the damage to the goods inside in the harsh goods. On the basis of application, the industrial transport segment is going to see the greatest amount of growth in the 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 leading exporters being the countries like South Korea and China. Even after the pandemic, these are the countries which have emerged to be at the top of the growth chain with the countries showing continuous levels of development. The Asian countries comprise of almost all of the leading ship producers in the market with the export, interregional activities of trade and the expansion of manufacturing activities in these countries growing the market.
These are also some of the more emerging countries and are the key contributors in the market for the worldwide industry. The merchandise trade is also growing in these regions internally and that is growing the market. Europe is the second largest market for the containers and will be witnessing a sizable growth in the market in exports in the post pandemic times. The world will see an excess of trade to Europe and that will expand this market too.
On Special Requirement Container Shipping Market Report is also available for below region:
North America
U.S, Canada
Europe
Germany, France, U.K., Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe
Asia-Pacific
South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
Latin America
Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
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