Albany, NY -- (SBWIRE) -- 01/03/2018 -- Container fleet refers to the concept of containerization through sea in an intermodal transportation process. The increase in use of high capacity vessels or ships reduces the cost of containers as they can store more number of containers at a time. This, coupled with the rapid increase in use of fleet management systems are likely to push the growth of this market upward in the next few years.
In the intermodal transportation procedure, the goods are not required to unload or reload from the containers and due to this the intermodal transportation is in high demand in the container fleet market.
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As manufacturers look towards integrating analytics, the container fleet market will scale higher. Incorporating analytics will the help in dealing with network related issues such as terminal operations, container utilization, and also vessel deployment. However, large capital investments involved in the container fleet market can limit its scope for expansion in the coming years.
The automotive, oil, gas and chemicals, mining and minerals, food and agriculture, retails and others constitute the primary end users in the global container fleet market. Of these, the automotive industry held the largest share of 20.4% in the market in 2016 followed by retails.
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Based on type, the global container fleet market is segmented into reefer containers, dry containers, and tank containers. Of these, dry containers held the largest market share in the container fleet market.
On the basis of geography,, Asia Pacific dominated the market for container fleet in 2016, followed by North America. These regions collectively accounted for more than 50% of the total revenue generated by the market in 2016. However, Asia Pacific is projected to grow at a higher pace during the forecast period followed by Europe, North America, Middle East and Africa and Latin America.