Cargo Shipping Market has valued US$11.1 Bn. in 2017 and is estimated to reach US$14.12 Bn. by 2026 at a CAGR of about 3.05%.
Trade liberalization and global economic growth increase the cargo shipping market. With economic growth and development, there is a direct rise in commodity consumption, which drives the cargo shipping market. Investments in port infrastructure and the global supply-command cycle will have a positive impact on the market. Developing trend of globalization and demographic changes are driving the growth of cargo shipping market. Supply chain management for marine trade has improved largely attributing to developing nations gaining a large market share in the cargo shipping. Acquiring new containers is cost intensive, which is manifesting as a major obstruct in the shipping industry and cargo shipping market. Environmental changes globally and geopolitics is a major restraint that could hinder the cargo shipping growth.
Cargo shipping market is segmented into cargo type, industry type, and region. On the basis of cargo type, Dry cargo ships are used to carry solid dry goods that have a higher tolerance to heat and cold, like metal ores, coal, steel products, and grains. As dry cargo shipment doesn’t require
special types of precautions. Container ships are ocean vessels that carry goods in large containers. Container ships are mainly used for the transportation of non-bulk cargo, generally manufactured goods, in truck-size intermodal containers.
Based on industry type, food is anticipated to dominate the market during the forecast period owing to factors such as economic growth and development, thereby directly rise in commodity consumption, which further drives the cargo shipping market.
In terms of region, Asia-Pacific accounted for the largest share of the global cargo shipping market in 2017. Developing economies are driving growth in the region. China is the main exporter in Asia-Pacific, owing to its well-developed manufacturing hub. European countries like UK, Spain, Germany, and France, along with Russia will account for the second largest share followed by North America.
Key Players Profiled and Analysed in the Report
CMA-CGM SA, A.P. Moller-Maersk Group, China COSCO Holdings Company Limited, Mediterranean Shipping Company S.A., Panalpina World Transport (Holding) Ltd., DHL Global Forwarding, Nippon Express Co., Ltd, Hapag-Lloyd AG, Ceva Logistics and Deutsche Bahn AG.
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Scope of the report for Global Cargo Shipping Market
Global Cargo Shipping Market, By Cargo Type
• Liquid
• Dry
• General
• Container
Global Cargo Shipping Market, By Industry Type
• Food
• Electrical/Electronics
• Mineral Fuels & Oils
• Manufacturing
• Others
Global Cargo Shipping Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Key players- Global Cargo Shipping Market
• CMA-CGM SA
• A.P. Moller-Maersk Group
• China COSCO Holdings Company Limited
• Mediterranean Shipping Company S.A.
• Panalpina World Transport (Holding) Ltd.
• DHL Global Forwarding
• Nippon Express Co., Ltd
• Hapag-Lloyd AG
• Ceva Logistics
• Deutsche Bahn AG
• DB Schenker
This Report Is Submitted By @Maximize Market Research Company
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