Report: Container Fleet Market to Grow by 3.19 Pct over Five Years

The global container fleet market is expected to grow at a compound annual growth rate (CAGR) of 3.19% during the period 2017-2021, according to a report issued by Research and Markets.

The report identified Danish shipping giant Maersk, French CMA CGM, Mediterranean Shipping Company (MSC) and China COSCO Shipping as key vendors.

The latest trend gaining momentum in the market is increasing use of fleet management systems, which are formed by the integration of hardware, software, and communication technologies and act as a platform for fleet operators to help in efficient control, tracking, and monitoring of vehicles used for commercial purposes.

They improve the overall operational efficiency by reducing non-value added activities of the operators, Research and Markets noted.

According to the report, one of the major drivers for this market is growing intermodal freight transportation. This industry is introducing some advances in technology such as ICT, computerized vehicle routing, active traffic management, and online freight exchange.

Research and Markets said that “one of the major factors hindering the growth of this market is trade imbalance causing low back-haul utilization rate. Excessive import, as opposed to the volume of exports, leads to accumulation of empty containers and vice versa.”

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

The Smart Ship Exchange

The Exchange will look at the issues involved with increasing autonomy in shipping with an introduction to the concept…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >