Container Shipping Market is valued at USD 5.01 Billion in 2017 and expected to reach USD 11.40 Billion by 2027 with a CAGR of 8.6% over the forecast period.
Containers are used to transport stuffs from one place to another. Containers changed the shipping and transport industry that’s allowing the transport of goods by rail, road and ship easily, and the containers are able to fit into different forms of transports easily. Container shipping containers are used in various standard sizes such as 20 foot (6.09 m), 40 foot (12.18 m), 45 foot (13.7 m), 48 foot (14.6 m), and 53 foot (16.15 m) to load, and unload transport goods and thing. The standardization of containers helps to increase efficiency and economies of scale. Shipping containers are with needed strength which should be proper to bear up shipment, storage, and handling.
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Global Container Shipping market report is segmented on the basis transportation type, application and region and country level. By transportation type, the market is divided into rail, road, water and airways. By application, the market is segmented into industrial, agricultural, automotive and others.
The regions covered in this Container Shipping Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of container shipping is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Key Players–
Some major key players for global Container Shipping market are China Shipping Container Lines, HANJIN, China Ocean Shipping Company, HAPAG-LLOYD, Mediterranean Shipping Company, and MAERSK and others.
Market Dynamics–
Universal trade is the backbone of container shipping market. The international trade across the world sustained its robust growth. Global container shipping is growing due to the increased growth of global economy which increased the trade. Additionally, growing sea-borne trade, trend of containerization of goods are some other factors augmenting the demand for containers shipping. For instance; according to World Shipping Council; Around 200 countries have ports open to container ships. Ports extent the volume of containers they handle in twenty-foot equivalent units (TEU). In 2018, containers fingered by all ports world-wide that’s including empties, trans shipments and port handling are estimated at around 785 million TEU. In addition, ports globally load and unload around 10,000 liner ship per week. Furthermore, the factors such as containers consumes large terminal space, complexity of arrangement of containers and theft and losses may restrain the market growth. For instance; according to a research study by Dr. Jean-Paul Rodrigue, Dept. of Global Studies & Geography, Hofstra University, New York, USA. around 1,500 containers are missing in sea each year.
Asia Pacific is Expected to Witness High Growth Rate in the Global Container Shipping Market.
North America is exoected to capture the highest market shares of the global container shipping market because of improved transportation services in this region. Asia Pacific is projected to witness high growth opportunities due to presence of numerous developing countries, such as Japan, China, and India and increasing number of leading companies because of low labor costs in this region. Additionally, growing number of manufacturing units in this region is also backing significantly to the growth. For instance; according to United Nations Conference on Trade and Development; Asia recorded the fastest growth around 6.7 % in exports and around 9.6 % in imports. In addition, developments in China also have an important impact on shipping, therefore the country keeps on as the center of shipping activity in 2017 and accounted for almost half of seaborne trade growth recorded during the year.
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Market Segmentation:–
By Transportation Type:
Rail
Road
Water
Airways
By Application:
Industrial
Agricultural
Automotive
Others
By Regional & Country Analysis:
North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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