The global container shipping market is projected to grow from USD 16.5 billion in 2017 to USD 18.6 billion by 2028, at an estimated CAGR of 2.29%. This report provides a detailed analysis of economic forecasts for the period 2018-2028 and highlights key trends such as increasing investments in infrastructure, rising trade volumes and changing consumer preferences that are expected to drive demand over the forecast period.
Container shipping is the transportation of goods in containers or “box” that has been sealed by both parties before delivery. The container ships are then loaded with these boxes, which can be stacked on top of each other like Lego bricks. This offers many advantages over traditional bulk shipments because they take up less space and offer more safety for cargo. Container vessels also travel faster than conventional ones, making them cheaper to use for long-haul freight journeys.
On the basis of type, the global container shipping market is segmented into 20ft, 40ft, 45ft, 48ft, and 53 ft.
20ft container shipping is the transportation of goods in containers or “box” that has been sealed by both parties before delivery. The 20 foot long boxes are then loaded with these boxes, which can be stacked on top of each other like Lego bricks. This offers many advantages over traditional bulk shipments because they take up less space and offer more safety for cargo.
40ft container shipping is the most common type of container in use as it measures 360 inches and can hold about 14,000 cubic feet. These containers are often used for industrial purposes such as warehouses or work environments that require a lot of storage space.
45ft container shipping refers to containers that measure 45 feet in length, or 13.72 meters (m). 45ft container shipping is used for most agricultural products and automobiles.
48ft container shipping is a type of container ship designed to transport freight on long-haul journeys, usually overseas. The 48ft containers are considered larger than 20ft and offer more space for cargo as well as additional features such as dedicated storage areas inside the hulls that can be used to store dangerous goods away from living quarters. This in turn reduces safety risks during maritime accidents or other emergencies.
The 53ft container is the largest type of shipping container. It measures 16.15 meters long, and it can hold more than 40 tonnes of cargo – or 15,000 cubic feet worth of goods. The average weight per box for this type is around 18,500 kilograms (40,700 pounds). These containers are typically used to transport heavy machinery such as cars or construction equipment across international borders.
On the basis of application, the global container shipping market is segmented into industrial, agricultural, automotive, and others.
The industrial application is the use of container shipping for large-scale commercial or manufacturing purposes. Container ships are used to transport both heavy and light cargo internationally, including raw materials such as coal or metal ores that cannot be easily transported by land due to their weight. This type of transportation provides companies with access to a much larger market than they might normally have locally while also reducing the cost per unit shipped.
The agricultural application involves the export of crops across oceans in order to create a global food supply chain; this allows countries all over the world to grow specialized crops without wasting space on nonperishable items like wheat, rice, and corn which can be grown anywhere. Typically these containers will carry a variety of different products, from rice and potatoes to blueberries. However, some countries are beginning to specialize in a particular crop such as strawberries where they will only export this one type of fruit for the sake of efficiency.
Container ships have also been used extensively for transportation purposes within the automotive industry because it reduces transport time and cost per unit shipped; however, due to recent advances in technology (such as electric cars) which may reduce demand for container shipping services, there is uncertainty about future growth potentials or contraction risks.
On the basis of region, the global container shipping market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America is expected to dominate the global container shipping market based on a share in terms of revenue with significant growth during the forecast period from 2017-2028. The region has been witnessing constant trade activities due to its geographical proximity and robustness in the economy, which are supporting factors for increasing investments by major players in this region. The US holds an important position within North America as it accounts for more than half of the total fleet size along with being one among top port holding countries globally; therefore, this can be considered as a key driver for regional growth. On account of economic expansion and rise in demand, Latin America is also likely to witness high levels of shipment activity over coming years thereby leading towards healthy development prospects in the container shipping industry.
The global container shipping market has been growing in the last five years and is expected to continue this trend. Factors fueling the growth of the container shipping industry include increasing demand for international trade, which leads to a high need for efficient, cost-effective logistics services across borders; increased globalization and diversification of merchandise supply chains, resulting in fragmented production processes that require reliable transport service providers.
In addition, the total number of containers shipped worldwide doubled from 2008 to 2015 as a result of an increase in the transportation volume by 20% over the same period. Globalization plays a major role here because more companies are outsourcing manufacturing abroad where labor costs are lower which means they can produce goods at cheaper rates thus lowering the prices of their products.
Furthermore, the global container shipping market is additionally driven by increased investment in offshore rigs for oil and natural gas exploration, which produces high-volume cargo containers that need to be transported on a regular basis. One example would be the construction industry where more housing units are being built every day which means there will also have an increase in demand for materials such as building supplies.
Up Market Research published a new report titled “Container Shipping Market research report which is segmented by Types (20 Foot (6.09 M), 40 Foot (12.18 M), 45 Foot (13.7 M), 48 Foot (14.6 M), 53 Foot (16.15 M)), By Applications (Industrial, Agricultural, Automotive, Others), By Players/Companies China Shipping Container Lines, HANJIN, China Ocean Shipping, HAPAG-LLOYD, Mediterranean Shipping, MAERSK”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||Container Shipping Market Research Report|
|By Type||20 Foot (6.09 M), 40 Foot (12.18 M), 45 Foot (13.7 M), 48 Foot (14.6 M), 53 Foot (16.15 M)|
|By Application||Industrial, Agricultural, Automotive, Others|
|By Companies||China Shipping Container Lines, HANJIN, China Ocean Shipping, HAPAG-LLOYD, Mediterranean Shipping, MAERSK|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||235|
|Number of Tables & Figures||165|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type 20 Foot (6.09 M), 40 Foot (12.18 M), 45 Foot (13.7 M), 48 Foot (14.6 M), 53 Foot (16.15 M) and By Application Industrial, Agricultural, Automotive, Others.
Some of the companies that are profiled in this report are:
Container Shipping Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Container Shipping Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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