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.
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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.
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.