The global container leasing market is forecast to grow at a CAGR of 16.12% by 2021, according to a report from Research and Markets.

One trend the report notes is consolidation. The global container leasing market is highly consolidated, with the top five players, such as China COSCO Shipping, Seaco, Textainer and Triton holding around 85% of the global market share in container leasing. Small players are entering the market to grab opportunities but face competitive pressure from the large players, often forcing them to combine.

According to the report, one driver in the market is rising global container traffic. Global container traffic has been growing steadily since 2010. The global recession of 2008 caused a negative impact on the growth of the container movement in 2009. However, the demand for container increased from 2010 and onward. Development in inter-Asia and intra-Asia trade is a major factor boosting the container traffic across the globe. For instance, in 2016, around 25 agreements were signed by India and China, making way for around $23 billion trade possibilities. Moreover, Asian countries are increasing trade by removing trade barriers.