Global Container Shipping market: Industry Analysis & Outlook (2017-2021) analyses the development of this market, with focus on Asia and Europe markets. The major trends, growth drivers as well as issues being faced by the market are discussed in detail in this report. The four major players: A.P. Moller-Maersk Group, CMA CGM S.A., Hapag-Lloyd Group and COSCO Group are being profiled along with their key financials and strategies for growth. The report contains a comprehensive analysis of the global container shipping market along with the study of the regional markets.
Container Shipping Market Set to Boom with Increase in Sea-Borne Trade
Shipping is regarded as the most carbon-friendly and fuel efficient form of transport, for commercial purposes. A major portion of world trade is frequently carried away by the sea. This will create a substantial opportunities for container shipping industry, thereby supporting its market growth. The volume of container shipping is anticipated to increase on account of increase in demand and supply of container ships, mainly driven by increased demand for transportation services across the various industries and increase in usage of high capacity ships, as such ships help in minimising the cost of each container that are being stacked on to the vessels.
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The global container shipping market is set to grow at a satisfactory growth rate in the coming years. Geographically, China held the largest market for container shipping owing to improvements in port infrastructure and rising industrial activities on a large scale. Europe is expected to rise at an average CAGR spanning from 2016 to 2021. The presence of strong government support in Europe will provide abundant growth opportunities for key players.
The trade volume of container shipping is expected to display a moderate growth rate in the forecasted period. Amongst the various trade lanes, Intra-Asia was the largest key route for container shipping on account of improved economic performance in this region. In Latin America, the trade volume is expected to increase owing to increased demand for inter-modal transportation.
The global container shipping market is highly fragmented and competitive in nature. For the year 2016, A.P. Moller Maersk group topped the market by holding the largest share during the given year. Increasing consolidation by key players will allow them to widen the range of shipping services offered, thereby enabling them to establish fast and better connections.
The global container shipping market is set to experience favorable growth driven by factors such as increasing sea borne trade, growing containerization, plummeting oil prices and upsurge in disposable income. Further, the scope of growth for this market will be broadened by increasing demand for shipping services therapy and accelerating economic growth. The major trends that can be observed in this market include increasing consolidation of key players, advancements in container shipping, increasing fleet management techniques and growing intermodal freight transportation. However, the growth of this budding market is constrained by challenges such as product miniaturization, environmental regulations, emergence of 3D printing technology and rising trade protectionism.
The ship which is structured specifically to hold huge quantities of cargo compressed in different types of containers is referred to as a container ship (also known as cargo ship). The process of sending cargo in special containers is known as containerization. Container ships are constructed to accommodate immense possible cargo loads. The load holding capacity of container ships is measured in terms of Twenty-foot Equivalent Units or TEUs, with the biggest container ships carrying as much as over 15,000-16,000 TEUs. Container units form the most integral part of the entire shipping industry, trade, and transport. These shipping containers are the structures that store various kinds of products that need to be shipped from one part of the world to another.