The global container fleet market size is expected to grow by 5.34 teu during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio.
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Growing intermodal freight transportation is expected to drive the container fleet market growth during the forecast period. Intermodal transportation uses different modes of transportation for transporting goods from one region to another. In addition to being environmentally friendly, some of the key advantages of using intermodal transportation over other modes of transportation include high efficiency and low operating cost. Moreover, the intermodal freight transportation industry is introducing some major advances in technology such as ICT, computerized vehicle routing, active traffic management, and online freight exchange. The market has been dominated by the railroad segment because of the low connectivity between rail routes and shipping terminals. However, road-water transportation is a rapidly growing segment of the global intermodal freight transportation market. It uses roadways and waterways to move freight from one location to another.
As per Technavio, the consolidation and alliance formation for cost-savings will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
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