Global Container Fleet Market to Grow by 6.34 TEU During 2020-2024 | 41% Growth to Originate in APAC | Technavio

NEW YORK, March 15, 2021 /PRNewswire/ -- The global container fleet market is expected to grow by 5.34 TEU, progressing at a CAGR of over 4% during 2020-2024. The report indicates positive growth in the short term as the business impact of COVID-19 spreads. 

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"One of the primary growth drivers for this market is the growing intermodal freight transportation," says a senior analyst at Technavio. As the markets recover, Technavio expects the container fleet market size to grow by 5.34 TEU during the period 2020-2024.

Container Fleet Market Segment Highlights for 2020

• The container fleet market is expected to post a year-over-year growth rate of 3.71%.
• Based on the type, the market saw maximum growth in the dry containers segment.
• The market growth in the dry containers segment will be significant over the forecast period.

Regional Analysis

• 41% of the growth will originate from the APAC region.
• The consolidation and alliance formation for cost-saving will significantly influence biofuels market growth in APAC
• China is the key market for container fleet market in the APAC.

Know about Report Detailed Analysis and Insights

Related Reports on Materials Include:
Global Shipping Container Liners Market - Global shipping container liners market is segmented by end-user (food, chemicals, minerals, and others) and geography (APAC, Europe, MEA, North America, and South America). 

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Global Flexible Intermediate Bulk Container Market - Global flexible intermediate bulk container market is segmented by end-user (chemical, food, and others) and geography (APAC, North America, Europe, MEA, and South America). 

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Notes:

• The container fleet market size is expected to accelerate at a CAGR of over 4% during the forecast period.
• The container fleet market is segmented by Type (Dry containers, Reefer containers, and Tank containers) and Geography (APAC, Europe, North America, MEA, and South America).
• The market is concentrated due to the presence of few established vendors holding significant market share.
• The research report offers information on several market vendors, including A.P. Moller - Maersk AS, China COSCO SHIPPING Corp. Ltd., CMA CGM Group, Evergreen Marine Corp. (Taiwan) Ltd., Hapag Lloyd, HYUNDAI Merchant Marine Co. Ltd., Kawasaki Kisen Kaisha Ltd., Mediterranean Shipping Co. SA, Mitsui O.S.K. Lines Ltd., and Nippon Yusen Kabushiki Kaisha.

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SOURCE Technavio