Transportation industry is the largest growing industry because of its wide applications in almost every sector such as oil and gas, chemicals, automobile, food and beverages and others. Feeder is one such sub segment of transportation industry which is expected to have a promising growth in future. The growth of transportation industry will increase the feeder containers market in future.
Feeder containers market is expected to grow with a significant CAGR in the forecast period. Companies invest in this industry to facilitate the flow of goods and transport their products to large consumer markets. Asia Pacific dominates the feeder containers market followed by Europe and North America. Customers of feeder containers are the companies which send their products from small ports to big transshipment ports.
Driving force for the feeder containers market is the increased globalization and demographic changes. Companies are planning to expand in different regions which increases the number of imports and exports resulting in an increase in the feeder containers market. Feeder containers are made up of such materials which can bear the transportation hazards which makes them a good option for transportation.
One of the restraints in the feeder containers market is the growing number of manufacturing centers across the globe which reduces the requirement of these containers since the goods are produced in the region only, resulting in decreasing the demand of feeder containers market. Another restraint of the feeder containers market is the rising cost which require maintaining these containers. Traditional companies are investing in small feeder vessels than long haul trades which is again a restraint in the feeder containers market.
Growing transportation industry has created many opportunities in increasing the feeder containers market.
The feeder containers market is segmented on the basis of the size, end – use industries, and region.
On the basis of the size of feeder containers, the feeder containers market is segmented into ultra large container vessel, panama, and feedermax.
On the basis of the end-use industries, the feeder containers market is segmented into oil and gas, chemical, food and beverages, transportation, automobile, and others.
On the basis of geographies, the feeder containers market is segmented across 7 key region; Latin America, Western Europe, North America, Japan, Asia Pacific excluding Japan, Eastern Europe and Japan. Asia Pacific has the largest market share in the feeder containers market because of the developing Asian economies which are driving the growth of feeder containers market. Strong government support, market demand and developments in infrastructure has increased the demand of feeder containers market. Europe holds the second largest share of feeder containers market because of the countries like UK, France, Germany, Russia and Spain. Feeder containers market is expected to grow in future because of the support given by European Union and rising global demand. North America is expected to have the third largest share in feeder containers market, and is expected to grow with a decent CAGR in the forecast period.
Key Market Players:
Few of the major key players active in the feeder containers market includes Alufoil, Maersk group, Mediterranean shipping company, CMA CGM, China COSCO shipping, Evergreen Marine, Hapag Lloyd, Orient Overseas container line, Hamburg Sud, NYK line, Mitsui O.S.K lines, United Arab shipping company, K line, and Pacific International line
Because of continuous developments in the logistics and transportation industry, it can be said that the feeder containers market is expected to grow in the coming years.