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The Container Leasing Market size is estimated to grow by 32.86 million teu between 2022 and 2027 accelerating at a CAGR of 16.52%. The market is experiencing significant growth, driven by several key factors. Firstly, the expansion of international containerized seaborne trade is fueling market demand. Additionally, the increasing influence of leasing companies in the global reefer container market is contributing to market growth. Furthermore, the proliferation of free trade agreements and the formation of trade blocs are creating new opportunities for businesses. These trends are expected to continue, driving the market forward in the coming years.
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Our analysis of the adoption life cycle of the market indicates its movement between the innovator’s stage and the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Market Customer Landscape
In the dynamic and expansive global transportation market, the container leasing market plays a pivotal role in facilitating the seamless movement of goods through various modes of transport, including roadways, railways, and marine routes. This market is essential for the necessary elements of imports and exports, providing access to a vast global container fleet.
Shipping container owners, consignors, and businesses in the shipping industry rely on leasing to acquire the necessary equipment for transporting their belongings. The market caters to various types of cargo containers, such as sea cube containers, refrigerated goods (reefers), flat racks, opentops, and tanks. Container suppliers play a crucial role in this market, offering a wide range of container options through an online leasing marketplace. Vetted companies ensure quality and safety, providing peace of mind to their clients. The convenience of leasing allows businesses to adapt to changing demands and optimize their logistics operations.
In the container leasing market, the cargo container market is a significant segment, with the refrigerated goods sector experiencing notable growth due to the increasing demand for temperature-controlled transportation. The market's flexibility and adaptability make it an indispensable part of the global transportation infrastructure. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The demand for international containerized seaborne trade is the key factor driving the global market growth. Global international seaborne trade depends on the global economy and trade. An increase in trade activities along with economic output will improve the growth in global seaborne trade, which relies on the use for the movement of goods. Besides the increase in the use in international seaborne trade has led to an increase in the demand. Customers prefer leased containers over self-owned containers to achieve economies of scale, especially when the volume of goods to be transported is low. These reasons will drive the growth of the market during the forecast period.
The rising popularity of intermodal freight transportation is the primary trend in the global market. Intermodal freight transportation does not require the cargo inside to not be handled or opened in transit. The goods can be safely delivered from one region to another during transit. This is driving the demand for intermodal freight transportation.
Both multimodal and intermodal freight transportation use multiple modes of transportation for the movement of cargo. These modes of transportation include the movement via road, rail, sea, and air. Since almost all are manufactured with similar specific dimensions and possess similar handling characteristics, it makes it easy and convenient for shippers to transfer the goods in intermodal freight transportation. Therefore, with the growth of intermodal freight and multimodal transportation, it is also expected to increase during the forecast period.
The fluctuation in container leasing rates is a major challenge to global market growth. The rates are primarily dependent on the prices of steel that are used for manufacturing shipping containers, as well as on global trade and the demand for supply of containers. At the beginning of 2020, companies operating in the global market faced various challenges, such as the decline in global trade volumes since 2019, an oversupply of containers, and a decline in global steel prices, which, in turn, reduced prices and encouraged shipping companies to purchase their own containers rather than opt for leasing them. The reduction of the lease rates will increase the ROI period for lessors. Thus, a longer period to get the ROI for lessors will affect their liquidity or cash flows. Moreover, container lease rates are highly dependent on global steel prices, and a reduction in steel prices has led to a decline in demand during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
CPI Group- The company offers Container Leasing services.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
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Based on type, the market is segmented into dry containers, reefer containers, tank containers, and special containers. The market share growth by the dry containers segment will witness growth during the forecast period. Dry cargo containers are designed and constructed to transport non-perishable cargo using intermodal freight transportation via sea, road, and rail for better readability. Such factors will increase the growth of this segment during the forecast period.
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The dry containers segment was valued at 12.77 million teu in 2017 and continued to grow by 2021. The growth in demand for dry variants mainly stems from countries such as China, India, Australia, Russia, the US, Mexico, South Africa, and Brazil. This is because of the significantly large population in these countries, backed by the high demand for commodities such as agricultural products, electronic goods, textiles, and other non-perishable goods. In 2020, China, India, the US, and Brazil were among the largest producers, consumers, and importers of food products. Non-perishable agricultural produce is majorly traded using dry ones. Wheat is also transported using dry ones. Thus, the growth in the production of wheat and other non-perishable products will drive the dry segment of the global market during the forecast period.
The food transport segment of the global market held a larger market share in 2022. The growth of the segment is fueled by the growing demand for packaged foods in different parts of the world. Leasing containers gives more advantages than buying one, most importantly time flexibility offered by leasing companies. Leasing gives power to companies to increase the number of containers without getting worried about the cost. Packaged foods mainly include ready meals (RTE), RTE preparations, frozen meals, cake mixes, snacks, and desserts. Growing demand for these products is expected to compel manufacturers to increase production capacity, which, in turn, will increase the demand for food transport during the forecast period.
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APAC is estimated to contribute 47% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.
The market in APAC is driven by the presence of countries such as China, India, Australia, Malaysia, Japan, and Singapore, which are expected to witness the development of port activities, an increase in the volume of containerized goods, and growth in the manufacturing industry during the forecast period. The increase in the volume of containerized goods handled in countries such as China, South Korea, Japan, Singapore, and India is significantly driving the growth of the market in the region. This increase in the volume of containerized cargo will facilitate the growth of the market in APAC during the forecast period.
The market report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "Million Teu" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
In the dynamic world of global trade, the market plays a pivotal role in ensuring the seamless transportation of goods and services. This market caters to the demand, essential for maintaining the temperature of agricultural and manufactured goods during shipment. The cold chain container is a critical component in sea routes and airways, ensuring the preservation of sensitive goods during long-distance journeys.
The ecommerce boom has led to an increase in shipment volume, putting pressure on the logistics network. Shipping container owners, consignors, shippers, and forwarders all rely on an expert team to navigate the challenges of port congestion and container imbalance. The container leasing market offers flexible solutions to address these issues, providing a diverse range of container types to cater to various industries and their unique requirements.
The logistics network's efficiency hinges on the availability of a sufficient number of containers in the right locations. Container leasing companies offer a cost-effective alternative to container ownership, allowing businesses to rent containers as needed. This approach helps maintain a balanced container supply, mitigating the impact of container imbalance on the overall supply chain.
In conclusion, the container leasing market is a vital component of the global trade ecosystem. It provides essential services, including cold chain container solutions, to ensure the safe and efficient transportation of goods and services, particularly during the current ecommerce boom and the challenges of port congestion and container imbalance.
Container Leasing Market Scope |
|
Report Coverage |
Details |
Page number |
170 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.52% |
Market growth 2023-2027 |
32.86 mn teu |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
14.92 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 47% |
Key countries |
US, China, Japan, Singapore, and Germany |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Atlas Logistic Network, Blue Sky Intermodal (UK) Ltd., Brambles Ltd., CARU Group BV, CPI Group, CS Leasing, EF International Ltd., EXSIF Worldwide Inc., Florens Asset Management Co. Ltd., Green Processing Co. Inc., Mitsubishi HC Capital Inc., Seaco Global Ltd., SeaCube Container Leasing Ltd., Textainer Group Holdings Ltd., Touax SCA, Trident Container Leasing BV, Triton International Ltd., UES International (HK) Holdings Ltd., and Waterfront Container Leasing Co. Inc. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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