Global Car Carrier Market: Insights & Forecast with Potential Impact of COVID-19 (2022-2026)
Car carriers form a vital part of the infrastructure chain for the global car manufacturing industry, as the production sites and end-user markets are often in different continents. The differentiating factor for the car carriers is how many cars equivalent units (CEU) these vessels can carry. The largest vessel in the global fleet has a capacity of 8,500 CEU.
The global car carrier market by value is anticipated to reach US$975.92 million in 2026, growing at a CAGR of 3% during the period spanning 2022-2026. The growth in the market has been driven by factors like rising urban population, higher vehicle sales, rising demand for foreign vehicles, and improvement in vessel designs. The market is expected to face certain challenges such as piracy threats, capacity fluctuations and geo-political tensions. To overcome these challenges, the market would witness some key trends like escalating technological advancements, upsurge in use of electric vehicles, and artificial intelligence.
The global car carrier market by value can be segmented as follows: Enclosed, and Open. In 2021, the dominant share of the market was being held by enclosed segment. The global car transportation market volume by region can be segmented into the following: Japan, Europe, Korea, NAFTA, ASEAN, China, and Others. In 2021, the dominant share of the market was held by Japan.
Scope of the report:
• The report provides a comprehensive analysis of the global car carrier market, segmented into: open and enclosed.
• The major regional markets Japan, Europe, Korea, NAFTA, ASEAN, China, and Others have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (K Line, NYK Line, MOL, Grimaldi, Wallenius Wilhelmsen ASA’s, and Hyundai Glovis) are also presented in detail.
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Content Source - Koncept Analytics