The Pure Car Truck Carrier (PCTC) market has reached a turning point, after strong activity in 2021-2024. In this four-year period, more than 280 new orders were placed, while 2025 closed with just six agreements for PCTC shipbuilding.
At the same time, deliveries reached a historic high, with 75 vehicle transport vessels (PCTC) joining the global fleet.
As the global economy emerged from the COVID-19 pandemic, orders for PCTC vessels have skyrocketed, with ship managers and capacity providers – including several new entrants to the market – betting heavily on the explosive growth of Chinese vehicle exports.
Today’s vehicle production is increasingly concentrated in China, with even European and Japanese brands building vehicles in the country. For example, Mazda has joined forces with China’s Changan Automobile through the Changan Mazda joint venture to develop and produce fully electric models in China, as it would otherwise risk missing out on the transition to full electrification if production remained in Japan, AXSMarine notes in an analysis.
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