Global Dry Container Fleet Market 2017-2021: Top Drivers and Forecasts by Technavio
July 27 2017 - 2:43PM
Business Wire
Technavio market research analysts forecast the global
dry container fleet market to grow at a CAGR of close to 3% during
the forecast period, according to their latest report.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20170727006270/en/
Technavio has published a new report on
the global dry container fleet market from 2017-2021. (Graphic:
Business Wire)
The market study covers the present scenario and growth
prospects of the global dry container fleet market for 2017-2021.
The report lists open-top containers, bulk containers, flat rack
containers, and ventilated containers as the four major segments
based on container type. Open-top containers accounted for the
highest share among all the container types in 2016.
This report is available at a USD 1,000 discount for a
limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off.
Buy 2 Technavio reports and get the third for free.
Technavio analysts highlight the following three market drivers
that are contributing to the growth of the global dry container
fleet market:
- Growing intermodal transportation
- Formation of alliances for cost
saving
- Upgrading of communication systems
Looking for more information on this market? Request a
free sample report
Technavio’s sample reports are free of charge and contain
multiple sections of the report including the market size and
forecast, drivers, challenges, trends, and more.
Growing intermodal transportation
Intermodal transportation is highly efficient, environmentally
friendly, and requires low investments. It uses different modes of
transportation for the transport of goods from one place to
another. It is estimated that intermodal transportation will grow
at a CAGR of more than 8% during the forecast period. This
transportation is easy to track and involves only a few idle
periods during the operation. It offers door-to-door delivery, a
shorter delivery time, ensures cargo safety, and involves the use
of different routes.
“The intermodal freight transportation
industry is introducing some major advances in technology such as
computerized vehicle routing, online freight exchange, and active
traffic management. Heavy vehicles, consumer goods, and the
automotive industry rely on intermodal transportation to transport
goods,” says Sharan Raj, a lead analyst at Technavio for logistics
research.
Formation of alliances for cost saving
Factors such as the global economic slowdown, high operational
costs, and low profitability are forcing shipping companies to pool
their resources and share shipping containers to minimize costs.
Several leading vendors are entering into strategic partnership
agreements and joint ventures to strengthen their market dominance.
These companies share container space for capacity utilization.
This results in minimizing their operational costs. Many companies
in the dry container fleet industry are forming alliances due to
the high debts, low freight prices, low rates of return, and high
capital investments in the industry.
“High-capacity vessels enable major cost
cutting in three areas, namely, bunker costs, operational costs,
and capital costs. These vessels are characterized by their high
engine capacity, large dock space, high bollard pull, and increased
storage capacity. The vessels have high utilization rates and use
the latest technologies. The premium day rates for these vessels
are high. Therefore, they generate more revenue for vessel
operators,” says Sharan.
Upgrading of communication systems
A communication system is extremely essential for better
container fleet management and for effective and efficient
delivery. Hapag-Lloyd has signed an agreement to migrate its fleet
of dry container ships to Inmarsat’s Fleet Xpress satellite
communications. This involves upgrading the communication systems
on the nearly 80 ships it manages. It also involves the
installation of new communications systems on its fleet of
container ships, which has a total transport capacity of 953,000
TEUs during the forecast period.
Container shipments require fully managed migration to
high-speed broadband along with redundant service. This is scalable
for any future fleet growth. Ship communications are crucial as
they allow the vessel operator to integrate onboard IT systems with
onshore networks.
Browse Related Reports:
- Global Finished Vehicles Logistics
Market 2017-2021
- Logistics Market in APAC 2017-2021
- Rail Freight Transportation Market in
APAC 2017-2021
About Technavio
Technavio is a leading global technology research and
advisory company. Their research and analysis focuses on emerging
market trends and provides actionable insights to help businesses
identify market opportunities and develop effective strategies to
optimize their market positions.
With over 500 specialized analysts, Technavio’s report library
consists of more than 10,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio’s comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
If you are interested in more information, please contact our
media team at media@technavio.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170727006270/en/
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
+1 630 333 9501UK: +44 208 123 1770www.technavio.com