What is Container Freight Transport Market?
Container freight transport refers to a physical process of transporting goods from one place to other. If one purchases goods from a foreign country, any one of the modes of transportation will be used such as rail, ship truck and others to transport the good. The containers come in various sizes as 20 foot, 40 foot, 45 foot, 48 foot, and 53 foot. Usually, the goods which need to be transported are stored in the massive warehouse known as a container freight station. Container freight transport is less expensive due to its standardization and as it moves the same amount of breakbulk freight in the container.
Highlights from Container Freight Transport Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | APL Logistics Americas (United States), CSX Transportation (United States), Norfolk Southern Railway (United States), BNSF Railway (United States), MSC Industrial Direct (United States), Maersk (Denmark), Hapag-Lloyd AG (Germany), Yusen Logistics Co., Ltd. (Japan), Swiss Federal Railways (Switzerland), Union Pacific Railroad (United States), Canadian National Railway (Canada), Kuehne + Nagel (Switzerland), Hanjin Group (South Korea), Hyundai Merchant Marine (South Korea) and Kerry Logistics (Hong Kong) |
As global container freight transportation increasing, key players are focusing on expanding their business by launching new ventures. In this attempts, Hong Kong based Kerry logistics launched services from China to Caucasus and Turkey. Also, and Kerry Logistics recently launched cross border rail services from China to Caucasus and Turkey. United States-based UPS launched full container Load (FCL) service between Hong Kong and Europe. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global Container Freight Transport market throughout the forecasted period.
APL Logistics Americas (United States), CSX Transportation (United States), Norfolk Southern Railway (United States), BNSF Railway (United States), MSC Industrial Direct (United States), Maersk (Denmark), Hapag-Lloyd AG (Germany), Yusen Logistics Co., Ltd. (Japan), Swiss Federal Railways (Switzerland), Union Pacific Railroad (United States), Canadian National Railway (Canada), Kuehne + Nagel (Switzerland), Hanjin Group (South Korea), Hyundai Merchant Marine (South Korea) and Kerry Logistics (Hong Kong) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Evergreen Marine Corp (Taiwan), COSCO Shipping Development (China), Ocean Network Express (Japan), CMA CGM (France) and Yang Ming Marine Transport Corporation (Taiwan). Container Freight Transport Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Industrial, Agriculture, Retail, Mining, Beverage & Food, Chemistry, Automobile and Others |
Type | Small Containers (less-than or equal to20 Feet), Large Containers (20-40 Feet) and High Cube Containers (40 Feet) |
Channel | Direct Sales,Distributor |
On the basis of geography, the market of Container Freight Transport has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Buyers Demand for End To End Supply Chain Solution for Quick Results and Growing Demand for Integrated Services in Container Freight Transport Industry
Market Growth Drivers:
Increased Globalization Due To Rapid Growth in Economies of Some Developing Countries and Growing Demand for Cost Effective Shipping Solution
Challenges:
Tariff or Tax Levied On the Goods and Volatile Nature of International Trade Activities
Opportunities:
Economic Growth in Emerging Country Leading to Rise in Sea Freight Transportation Activities and Growing Cross Boarder Activities
Key Target Audience
Container Freight Transport Manufacturers, Container Freight Transport Distributors/Traders/Wholesalers, Container Freight Transport Subcomponent Manufacturers, Industry Association, Downstream Vendors and Other
Market Leaders & Development Strategies
In August 2018, Kuehne + Nagel acquires Ecuador-based Panatlantic Logistics S.A., the operations were carried out in a temperature controlled warehouse at Quito airport. and In June 2018, CMA CGM to acquire Containerships, was an intra-European short sea specialist with a strong presence in the Baltic market, Russia, Northern Europe, North Africa and Turkey.
Container freights are subjected to stringent regulatory guidelines as they carry various types of materials including hazardous one. As per United Kingdom safety convention regulations 2017, it is required to maintain “high level of safety in the transport and handling of containers by providing internationally acceptable test procedures and related strength requirements.” Moreover, Health and Safety Executive of United Kingdom mandates container freight to be approved by governing bodies and must be periodically examined by the competent person and in accordance with arrangements that are approved by HSE.