The market for feeder containers is anticipated to grow to over US$ 7.8 billion by 2022. According to the analysis, demand will grow at a CAGR of 5.9%, with a market value of US$ 13.8 billion by 2032.
Feeder containers refer to the standardized shipping containers specifically designed for the transportation of cargo between smaller ports and major transshipment hubs. These containers come in various sizes, including 20-foot and 40-foot variants, and are an integral part of the global shipping network.
The Importance of Feeder Containers in Global Trade
Feeder containers play a vital role in the overall logistics chain, facilitating the smooth and efficient movement of goods across the globe. By connecting smaller ports to larger hubs, feeder containers enable businesses to overcome geographical barriers and access international markets. They serve as a cost-effective and reliable solution for transporting cargo, allowing for seamless integration between different modes of transportation, such as ships, trucks, and trains.
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Market Trends and Innovations in Feeder Containers
Integration of Internet of Things (IoT) in Container Tracking
The advent of IoT has revolutionized the way feeder containers are tracked and monitored. IoT-enabled tracking devices can provide real-time information on container location, temperature, humidity, and other vital parameters. This level of visibility and control allows for proactive decision-making and ensures the integrity and safety of the cargo throughout the journey.
Adoption of Blockchain Technology for Enhanced Security
Blockchain technology has gained significant traction in the shipping industry, offering improved security, transparency, and efficiency in supply chain management. By leveraging blockchain, feeder container operators can create tamper-proof records of each container’s journey, reducing the risk of fraud, theft, and unauthorized access.
List of Key Players Covered in Feeder Containers Market are:
- Maersk group
- Mediterranean Shipping Company
- China COSCO Shipping
- Hapag Lloyd
- Orient Overseas container line
- Hamburg Sud
- NYK line
- Mitsui O.S.K lines
- Pacific International line
- K line
- Evergreen Marine Corp
- Star Feeders
- Saraf Shipping Agency
- Global Feeder Shipping
- Bahri
“The introduction of RFID tag-based smart feeder containers, along with surging demand for eco-friendly and flexible packaging solutions will fuel the growth in the market over the assessment period,” says an FMI analyst.
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Key Takeaways:
- By product type, the dry containers segment is projected to account for 55% of the total market share by 2032.
- Based on container size, the high cube size containers segment is anticipated to remain lucrative.
- In terms of end use, the oil & gas and mining segment is projected to register a CAGR of 4.7% during 2022-2032.
- The U.S. will account for 87.9% of the north America feeder containers market over the assessment period.
- China is expected to emerge as an attractive pocket, holding 54.3% of the east Asia feeder containers market share over the forecast period.
- North America and Asia are anticipated to witness the highest demand for feeder containers during the forecast period, accounting for 30-35% of the total market sgare collectively.
The tier 1 players in the market hold 10-15% in the global feeder containers market. Leading players are investing in production facility expansions and improving their product portfolios to gain a competitive edge in the market. For instance:
- In March 2022, JR Shipping Group announced that MV Endeavor, one of their 750 TEU feeder container will soon avail of Maritime Filtree System and carbon capture module, which will help to reduce the emissions from the vessel.
Feeder Containers Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global feeder containers market, analysing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals market growth projections on the feeder containers based on the product type (dry containers, reefer containers and others), container size (small size containers, medium size containers and high cube size containers) and end use (oil, gas and mining, food & beverages, automotive, healthcare, electrical and electronics and other industries) across seven regions.
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