LONDON--(BUSINESS WIRE)--According to Technavio Research Report “Container Leasing Market by type of container (dry containers, reefer containers, tank containers, and special containers) and geography (the Americas, APAC, and EMEA) is witnessed to grow by 30.88 million teu, at a CAGR of 19% from 2019 to 2023”.
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Global Container Leasing Market: Growth in global demand for refrigerated transportation
The global refrigerated transportation market will witness significant growth during the forecast period due to the rising adoption of cold chain solutions as they ensure the safe transportation of temperature-sensitive and perishable products. The use of refrigerated transportation in cold chains increases the operational efficiency, helps in reducing food waste, and improves the shelf-life of temperature-sensitive products.
“During the forecast period, the global refrigerated transportation market will witness a CAGR of around 7%. The reefer or refrigerated containers are extensively used in refrigerated transportation to carry and transport temperature-sensitive and perishable products from industries such as food and beverage and pharmaceuticals to retail outlets and consumers. This will boost the growth of the global container leasing market,” says a senior analyst at Technavio for research on transportation and distribution.
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Few Major Players for the Container Leasing Market are:
- CAI International
- Triton International
Segmentation analysis – Container Leasing Market
This container leasing market analysis report segments the market by type of container (dry containers, reefer containers, tank containers, and special containers) and geography (the Americas, APAC, and EMEA).
The dry containers segment held the largest container leasing market share in 2018, accounting for nearly 80% of the market. This segment is expected to dominate the global market throughout the forecast period. The APAC region led the market in 2018 with around 45% of the market share, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Growth in international containerized seaborne trade.
The increase in trade activities coupled with economic output will lead to growth in the global seaborne trade that relies on the use of containers for the movement of goods. In 2017, the volume of international seaborne trade registered a 33.21% increase when compared with 2007. Hence, to ensure unitization and higher security during the seaborne transportation of cargo, the demand for containerized seaborne trade increased at a CAGR of 4.70% during 2012-2017.
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