Global Container Fleet Market to Reach US$ 21.0 Billion by 2032, Propelled by Considerable Rise in E-Commerce and Cross-Border Trading

April 17, 2023 | Transportation and Logistics

According to the latest report by IMARC Group, titled “Container Fleet Market Report by Type (Dry Container, Reefer Container, Tank Container, Special Container), End User (Automotive, Oil and Gas, Food, Mining and Minerals, Agriculture, and Others), and Region 2024-2032”, the global container fleet market size reached US$ 12.6 Billion in 2023. Container fleet refers to a group of shipping containers which are owned, leased, or operated by one company or organization, and is an integral part of the global shipping industry. These containers enable goods to be transported via sea, land, or air in a standardized manner. Made from high-strength steel, they can withstand the stress of long-distance transport and are designed to meet industrial specifications, making them easily loaded and unloaded onto ships, trucks, and trains without the need for repacking. As a result of standardized container sizes, intermodal transportability, and advanced logistics systems that optimize goods' movement from origin to destination, container fleets serve as a primary means of transporting goods over long distances efficiently and securely. Some of the advantages of container fleets include cost-effective transportation, better security, increased efficiency, and higher flexibility. 

Global Container Fleet Market Trends:

The global market is majorly driven by considerable growth in e-commerce industry and the growing cross-border trading activities. This can be attributed to the inflating disposable income levels of the masses and economic growth in emerging economies. In line with this, rapid industrialization is resulting in an escalating demand for more raw materials, finished products, and consumer goods, which, in turn, is resulting in a higher uptake of containerized cargo transportation. Moreover, the growing need to enhance supply chain efficiency and reduce inventory costs due to the growing volumes of shipping is also providing an impetus to the market. Besides this, the rising stringency in environmental regulations is leading to rising pressure for shipping companies to reduce their carbon footprint, leading to the adoption of fuel-efficient container fleet. The market is further fueled by the continual technological advancements in container fleet applications to streamline operations, such as the use of automation, data analytics, and blockchain technology, and reduce costs. Apart from this, numerous strategies adopted by key players, such as merger and acquisitions (M&As), partnerships and collaborations are propelling the market. Some of the other factors contributing to the market include rising development of intermodal transportation infrastructure, the growing prevalence of one-day or two-day delivery systems, and extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 21.0 Billion by 2032, exhibiting a CAGR of 5.67% during 2024-2032. 

Market Summary:

  • Based on the type, the market has been segmented into dry container, reefer container, tank container, and special container. Among these, dry container represents the largest market segment. 
  • On the basis of the end user, the market has been divided into automotive, oil and gas, food, mining and minerals, agriculture, and others. Among these, oil and gas accounts for the dominant market share. 
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa. At present, Asia Pacific holds the leading position in the market. 
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include A.P. Møller – Mærsk A/S, China COSCO Shipping Corporation Limited, CMA CGM S.A., Evergreen Marine Corporation, Hapag-Lloyd AG, Matson Inc., MSC Mediterranean Shipping Company S.A., Ocean Network Express Pte. Ltd., Orient Overseas Container Line Limited, Pacific International Lines Pte. Ltd., Unifeeder A/S (DP World), Wan Hai Lines Ltd., Yang Ming Marine Transport Corporation, and ZIM Integrated Shipping Services Ltd. (Kenon Holdings Ltd).

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Type, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered A.P. Møller – Mærsk A/S, China COSCO Shipping Corporation Limited, CMA CGM S.A., Evergreen Marine Corporation, Hapag-Lloyd AG, Matson Inc., MSC Mediterranean Shipping Company S.A., Ocean Network Express Pte. Ltd., Orient Overseas Container Line Limited, Pacific International Lines Pte. Ltd., Unifeeder A/S (DP World), Wan Hai Lines Ltd., Yang Ming Marine Transport Corporation, ZIM Integrated Shipping Services Ltd. (Kenon Holdings Ltd), etc.
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Global Container Fleet Market to Reach US$ 21.0 Billion by 2032, Propelled by Considerable Rise in E-Commerce and Cross-Border Trading
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