The global feeder containers market is slated to total a valuation of US$ 7.8 Bn in 2022. With sales growing at a 5.9% CAGR, the market size will surpass US$ 13.8 Bn by 2032.
One of the primary drivers propelling the global feeder containers market is the growing usage of feeder containers due to their flexibility in transportation and low cost. They can be used for a variety of purposes, from carrying lightweight to heavy products.
Mostly, dry containers are used in various industries as they offer an efficient and fast shipping method for a bulk quantities of goods across land and sea. Feeder container are considered a viable option as compared to air shipping, as container shipping is more foreseeable, cost-efficient and capable of moving heavier loads.
Shipping companies are planning for expansion in different regions, which increases the export and import, resulting in higher demand for feeder containers. Dry containers offer standard shipping, which includes non-temperature-sensitive and dry shipping.
On the back these factors, sales of feeder containers across various end use sectors will continue gaining traction over the forecast period.
“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.
· 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 share collectively.
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, Gulftainer, Hapag-Lloyd AG, Mediterranean Shipping Company, AP Moller Maersk, X-Press Feeders, Orient Overseas Container Line Limited, Safeen Feeders (Abu Dhabi Ports), FeederTech (Unifeeder Group), CMA CGM Group, PIL (UAE) LLC, COSCO Shipping Lines and HMM Co. Ltd.are some of the key players operating in the global feeder containers market.
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.
These insights are based on a report on Feeder Containers Market by Future Market Insights