LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global container leasing market is expected to grow at a CAGR of more than 16% during the predicted period.
This research report titled ‘Global Container Leasing Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Despite the instability in the monetary, fiscal, and other economic policies, the global trade is expected to expand by around 2.5% in 2017 and 2.9% in 2018. The rise in the expansion of the global trade will increase the demand for global container requirement. This is because by 2016 around 46% of the global containers were under the control of lessors. The share of the global container lessors in the global container market has increased by 2% from the previous year, in 2016.
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Technavio’s analysts categorize the global container leasing market into four major segments by types of container. They are:
- Dry containers
- Reefer containers
- Tank container
- Special container
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The top three segments based on types of containers for the global container leasing market are discussed below:
Global container leasing market by dry containers
The volume of the container demand is proportional to the growth in the volume of global trade. China and India are the two major countries contributing to the growth in the demand for dry containers in import and export activities. Since China and India hold around 30% of the world's population, the requirement for commodities is greater in these countries. This requirement is expected to trigger the growth of the dry container leasing in China and India.
According to Sharan Raj, a lead transportation and distribution research analyst from Technavio, “The major exporters of food grains are Australia, Russia, and Ukraine. Egypt emerged as one of the global largest importers of wheat of around 12 million tons in 2016. The global demands for agricultural products are expected to increase the overall leasing order for the global dry container market. Besides agricultural products, the demand for dry container leasing is also substantial in other goods manufacturing industries such as textile, electronic goods, and home appliances.”
Global container leasing market by reefer containers
The wholesale and distribution market for the pharmaceutical is expected to grow at a CAGR of 6% between 2015 and 2020. North America dominated the pharmaceutical wholesale and distribution in 2016, followed by APAC. The global pharmaceutical wholesale and distribution network includes hospitals, clinics, government healthcare centers and pharmacies.
“The vaccine market across the globe is expected to grow at a CAGR of 9% during the forecast period. Rising investment in vaccine development by the government and non-government bodies is the major driver for the growth of global vaccine market. High government funding for the research and development of immunization vaccines in North America contributes significantly to the global vaccine market,” says Sharan.
Global container leasing market by tank containers
The US is the highest growth contributor to the crude oil consumption in North America. In APAC, China and India are the largest crude oil consumers. The major demand for crude oil in China and India arises from the consumption of jet fuels, hydrocarbons, and gasoline. The equivalent growth in the demand and supply of crude oil is expected to influence the requirements of efficient and cost-effective transportation to raise the profit margin of crude oil suppliers.
The rise in tanker carrier railcar simultaneously increases the number of tanker container leasing agreement in the US. By considering the market scenario, it is noted that the global container leasing market by tank container is expected to grow at a CAGR of 14.87% during the forecast period.
The top vendors highlighted by Technavio’s research analysts in this report are:
- China COSCO Shipping
- Seaco
- Textainer
- Triton International
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