Ship Leasing Market Size (2024 - 2029)

The ship leasing market is projected to experience significant growth over the forecast period, driven by an increase in demand for cargo transportation and a surge in international trade. Despite the challenges posed by the COVID-19 pandemic, which adversely affected the industry by stranding ships and impacting global shipping activities, the market is expected to expand. The recovery in import and export activities post-pandemic has contributed to this growth. However, the complex regulatory framework surrounding ship leasing may pose challenges to the market's expansion.

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Market Size of Ship Leasing Industry

Ship Leasing Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 14.79 Billion
Market Size (2029) USD 27.97 Billion
CAGR (2024 - 2029) 13.59 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Ship Leasing Market Major Players

*Disclaimer: Major Players sorted in no particular order

Ship Leasing Market Analysis

The Ship Leasing Market size is estimated at USD 14.79 billion in 2024, and is expected to reach USD 27.97 billion by 2029, growing at a CAGR of 13.59% during the forecast period (2024-2029).

  • The COVID-19 pandemic deleteriously affected the ship leasing market. The onset of the pandemic prevented cargo as well as passenger ships from docking at the port of the local authorities, and this led to various merchant sailors being stranded on the ships. Moreover, various ship owners were required to pay additional costs since their ships were stranded on territorial water for an extended period.
  • Furthermore, the pandemic also led to a decline in the import and export of products and goods, and this led to an impact on the global shipping industry. The decline in the COVID-19 pandemic led to improvement in terms of the import and export of goods by various countries and bolstered the growth of the shipping industry.
  • The rise in demand for cargo transportation through shipping, the surge in international trade, and the increase in the transportation of heavy cargo are the main factors that will drive the growth of the market in the coming years. On the other hand, the complex regulatory framework governing ship leasing activities is expected to be a hindrance to market growth.

Ship Leasing Industry Segmentation

Ship leasing refers to a contract between a lessor and a lessee for the hire of a ship for a specific period on payment of specified rentals. In the shipping industry, a lessor (legal owner/leasing company) gives a lessee (operator/shipping company) in consideration of regular lease/hire payments, full possession, and operational control of the ship for an agreed period.

The ship leasing market is segmented by lease type, application, type, and geography. By lease type, the market has been segmented into a financial lease and a full-service lease. By application, the market has been segmented into container ships and bulk carriers. By type, the market has been segmented into a real-time lease, periodic tenancy, bareboat charter, and others. The report also covers the market sizes and forecasts for the ship leasing market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).

Lease Type
Financial Lease
Full-Service Lease
Application
Container Ships
Bulk Carriers
Type
Real-Time Lease
Periodic Tenancy
Bareboat Charter
Other Types
Geography
North America
United States
Canada
Europe
United Kingdom
France
Germany
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Ship Leasing Market Size Summary

The ship leasing market is poised for substantial growth over the forecast period, driven by increasing demand for cargo transportation and a surge in international trade. The market, which experienced setbacks due to the COVID-19 pandemic, is recovering as global shipping activities resume. The rise in transportation of heavy cargo and the recovery of import and export activities are key factors propelling market expansion. However, the complex regulatory environment surrounding ship leasing poses challenges to growth. The bareboat charter segment is expected to see significant growth, offering a stable cash flow model that is particularly appealing to the tanker industry, where control over vessel operations is crucial.

The Asia-Pacific region is anticipated to be a major growth driver, with countries like China, Japan, and South Korea leading in ship ownership and supply. These nations have seen increased shipbuilding activities, and initiatives in countries like Vietnam aim to enhance intra-Asian trade routes and attract foreign investment in new ships. The market is semi-consolidated, with major players like A.P. Møller - Mærsk A/S and Global Ship Lease, Inc. holding significant shares. These companies are expanding their regional presence and offering flexible financing options to meet the growing demand for shipping operations. Recent developments, such as Global Ship Lease's partnership with Ascenz Marorka for smart shipping solutions, highlight the industry's focus on optimizing vessel performance and environmental sustainability.

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Ship Leasing Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Lease Type

      1. 2.1.1 Financial Lease

      2. 2.1.2 Full-Service Lease

    2. 2.2 Application

      1. 2.2.1 Container Ships

      2. 2.2.2 Bulk Carriers

    3. 2.3 Type

      1. 2.3.1 Real-Time Lease

      2. 2.3.2 Periodic Tenancy

      3. 2.3.3 Bareboat Charter

      4. 2.3.4 Other Types

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

      2. 2.4.2 Europe

        1. 2.4.2.1 United Kingdom

        2. 2.4.2.2 France

        3. 2.4.2.3 Germany

        4. 2.4.2.4 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 India

        3. 2.4.3.3 Japan

        4. 2.4.3.4 South Korea

        5. 2.4.3.5 Rest of Asia-Pacific

      4. 2.4.4 Latin America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Rest of Latin America

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 United Arab Emirates

        2. 2.4.5.2 Saudi Arabia

        3. 2.4.5.3 South Africa

        4. 2.4.5.4 Rest of Middle East and Africa

Ship Leasing Market Size FAQs

The Ship Leasing Market size is expected to reach USD 14.79 billion in 2024 and grow at a CAGR of 13.59% to reach USD 27.97 billion by 2029.

In 2024, the Ship Leasing Market size is expected to reach USD 14.79 billion.

Ship Leasing Market Report Snapshots

Ship Leasing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)