The number of maritime containers in South Korea has shown a steady increase from 2013 to 2023, reaching 29.481 million TEUs in 2023. The year-on-year variations have fluctuated, with significant growth periods in 2014-2015 and 2017-2018 and a noticeable decline in 2022. Over the last two years, the market displayed recovery with a 2.28% year-on-year increase in 2023. The compound annual growth rate (CAGR) for the past five years stood at 0.35%, indicating slight growth.
Looking forward, the forecast predicts a continuation of this trend with the number of maritime containers expected to reach 32.628 million TEUs by 2028. The forecasted five-year growth rate is 8.32%, with an average annual growth rate (CAGR) of 1.61%.
Future trends to watch for include advancements in maritime technology, shifts in global trade patterns, and potential impacts from geopolitical and economic changes. Market players should also monitor regulatory changes and sustainability initiatives that could influence the maritime industry's dynamics.
