Global Tank Container Shipping Market 2019-2023| 9% CAGR Projection over the Next Five Years | TechnavioThe Associated Press
LONDON--(BUSINESS WIRE)--Jul 12, 2019--
The global tank container shipping market is expected to post a CAGR of more than 9% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global tank container shipping market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global tank container shipping market size is the growth in global oil and gas demand. The demand for oil and gas has increased significantly across the world owing to the strong demand for petroleum products, and growing use of natural gas for power generation across the world. As a result, the investments in tank containers shipping are increasing at a rapid pace. This is expected to fuel the expansion of the tank container shipping market across the world.
As per Technavio, the technological innovations driving productivity in the tank container shipping market will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global tank container shipping market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Tank Container Shipping Market: Technological Innovations Driving Productivity in Tank Container Shipping Market
The tank container shipping market has witnessed a significant increase in technological innovations and technical breakthroughs that have helped to increase productivity and profitability. Vendors are focusing on automating tank container shipping processes and equipment, using a data-driven approach to optimize activities such as exploration, drilling, and production, by investing in high-performance tools and systems. Thus, the use of advanced technologies in tank container shipping services is expected to be a key trend that will drive market growth during the forecast period.
“Apart from the technological innovations in tank container shipping market, other factors such as the rising investments in chemical manufacturing facilities in emerging regions, and the growing LNG trade will have a significant impact on the tank container shipping market growth during the forecast period,” says a senior analyst at Technavio.
Global Tank Container Shipping Market: Segmentation Analysis
This market research report segments the global tank container shipping market by end-user (oil and gas industry, chemical industry, and other industries) and geographic regions (Europe, APAC, North America, MEA, and South America).
The European region led the tank container shipping market in 2018, followed by APAC, North America, MEA, and South America respectively. The growth of the tank container shipping market in Europe can be attributed to the booming oil and gas industry. However, the growth rate of the tank container shipping market in Europe is expected to slow down over the forecast period owing to the economic instability in the region. This will tip the scale in favor of the APAC region which is expected to post the highest incremental growth through 2023.
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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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INDUSTRY KEYWORD: OIL/GAS ENERGY CHEMICALS/PLASTICS LOGISTICS/SUPPLY CHAIN MANAGEMENT MANUFACTURING TRANSPORT
SOURCE: Technavio Research
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PUB: 07/12/2019 06:00 AM/DISC: 07/12/2019 06:00 AM