Cargo Shipping Market Research Report - Global Forecast till 2030

Cargo Shipping Market Research Report: Information by Cargo Type (Container Cargo, Bulk Cargo, General Cargo and Liquid Cargo), End-Use Industry (Food, Manufacturing, Oil & Ores, and Electrical & Electronics) and Region [North America, Europe, Asia-Pacific (APAC) and Rest of the World] - Forecast till 2030

ID: MRFR/CO/2287-HCR | February 2021 | Region: Global | 188 pages

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Cargo Shipping Market Overview


Cargo Shipping Market is projected to be worth USD 22.15 Billion by 2030, registering a CAGR of 5.17% during the forecast period (2022 - 2030), The market was valued at USD 13 billion in 2021.


The Global Cargo Shipping Market has been witnessing a substantial degree of growth in the past couple of years, especially during the historic forecast period that ends in 2030. The global market has been witnessing a huge rise in the birth of factors such as the growing imports and exports of liquid, dry, general, and container cargo trade in major participating countries for the market like the Asian Pacific region and the Middle East countries. The main aim behind this is the rapid growth of the end-use industries are propelling the market growth during the ongoing forecast period that will be ending in 2030.


COVID Analysis


The cargo shipping industry has also been impacted because of the outbreak of the novel coronavirus pandemic that took to the international market and scale in 2019 and 2020. Also, the pandemic has been creating issues for the production and manufacturing departments for all the units and also, introducing new kinds of changes for the preference and lifestyle of the global target audience. The market is home to a series of product lines that was good for the audience in the pre-pandemic time and hence, the market is struggling to keep up with the demand and supply chain mechanism in the global market scenario during the ongoing forecast period that will be ending in 2028.


However, the global market has been witnessing the rise in funding and investment to cater to the rising needs of the audience followed by the developments that will foster the market growth. Also, the role of the competitive market players is prominent to push the market scale that will be expanding the market to meet the rising needs of the global audience spread in various locations in the global market premises in the period.


Competitive Landscape


The cargo shipping market has been expanding due to the efforts that have been poured in by the following mentioned market players:



  • P Moller – Maersk (Denmark)

  • Panalpina World Transport (Holding) Ltd. (Switzerland)

  • CMA CGM Group (France)

  • MSC Mediterranean Shipping Company S.A. (Switzerland)

  • DB Schenker (Germany)


Market Dynamics


Drivers


The global cargo shipping market is projected to be driven by major developing factors like the widespread establishment of new ports and the large extension of existing ports. Furthermore, there have been many agreements that are developing in the propelling cargo shipping market size such as the free trade agreements that are passed by different countries. Some of the passed agreements include the ASEAN Free Trade Area (AFTA), North American Free Trade Agreement (NAFTA), and others like the Trans-Pacific Strategic Economic Partnership (TPSEP) is another important factor that is boosting the cargo shipping market in the global market premises during the forecast period of 2021-2030.


Restraints


However, the cargo shipping market share has been witnessing the emergence of major market restraints that might hamper the global market from growing as per the expectations that have been set for the forecast period. One of the major restraints that the market is witnessing is the cargo transportation duration that is creating issues for the market to dwell. Also, the ongoing and upcoming rigorous environmental and safety restrictions and regulatory compliances for the global market are creating problems for the market and hence, making the emergence and profitability difficult especially during the ongoing forecast period that will be ending in 2030.


Technology Analysis


The technological advancements that are developing in the global market premises for the market and enhancing the cargo shipping market value for the forecast period that will be ending in 2028 are likely to help the market grow at an excellent rate. The market has witnessed an excellent rate of port infrastructure development followed by the growth of inland marine cargo transport will have great opportunities in store for the market.


Study Objectives



  • The market report aims to analyze the global marine cargo industry, by region, in terms of geopolitics.

  • The cargo shipping market has been prepared to define and analyze the global marine cargo markets by cargo type - liquid cargo, dry bulk, general cargo, container cargo.

  • The industry report helps carry an in-depth study of the global marine cargo by trade routes - Suez Canal, Panama Canal, Straits of Malacca & Singapore, and Strait of Hormuz with the trade lanes

  • The report also helps to define, describe, and analyze current and future trends in the global cargo shipping industry

  • The report helps to describe the global industrial, agricultural, petrochemical cargo shipping market by value during the ongoing forecast period that will be ending in 2030.


Segment Overview


The cargo shipping market size has been increasing in the recent past owing to the splendid developments of the global market segments that are functioning in different forms to meet the rising needs of the global target audience. The market has been segmented based on the following factors:


Based on cargo type


The global cargo shipping market has been segmented based on the cargo type and classified as container cargo, bulk cargo, general cargo, and liquid cargo. The general cargo segment has been anticipated to witness the highest CAGR growth due to the presence of market features like high flexibility for shipping containers.


Based on the end-use industry


The global cargo shipping market has been segmented based on the end-use industry and includes industries like food, manufacturing, oil, and ores, amongst others like electrical and electronics. The manufacturing sub-segment of this segment had accounted for the highest share during the historic forecast period that had ended in 2019. The market is witnessing growth because of the growing economy that results in major market expansion.


Regional Analysis


The Asian Pacific market had accounted for the largest market share during the historic forecast period that had ended in 2019 and is expected to register the highest growth rate during the forecast period that will be ending in 2028. China, as a part of the APAC market, is the major manufacturing hub. Other factors that have contributed effectively to the market growth in the region are the developments in the infrastructure department of the port, followed by the increased market demand, and constant government support.


Recent Developments



  • As per the statistics that have been stated by the United Nations Conference on Trade and Development (UNCTAD), the global seaborne trade volume had touched 10 billion tons in 2015, which is inclusive of the exports and imports of dry cargo including bulk commodities and containerized trade. There has been a constant increase in the containerized trade that is coupled with the rising trend of port automation to cope up with the increased demand. Also, this has led to the growing size of port terminals to accommodate the goods, which, in turn, is a good degree of demand for cargo shipping globally.

  • In May 2016, one of the prominent market companies - Maersk Line had launched its new AC1 service that connects the West Coast of Latin America with Asia. This new service is likely to optimize its Asia to Central America network. The profound network will add a third loop to the AC network. This new service is expected to provide a better degree of Maersk Line’s customers with reduced transit times and hence, provide a greater port coverage on certain corridors while maintaining the network’s stability in the global market premises.

  • In April 2016, another market company - COSCO Container Lines, amongst others like CMA CGM, Evergreen Line, and Orient Overseas Container Line had signed a Memorandum of Understanding (MoU) to form a new alliance. The newly developed alliance offers better and competitive products alongside comprehensive service networks across the globe during the forecast period that ends in 2028.


Intended Audience



  • Shipping exports and companies

  • Shipbuilding dealers and companies

  • Customers

  • Downstream stakeholders

  • Government regulatory authorities and public sector

  • Investment firms and parties

  • Equity research groups and firms

  • Private equity firms


Report Overview


The cargo shipping market report has been prepared to understand the prevailing market trends followed by the sudden impact of the coronavirus outbreak. The market report proves to help take fruitful and advantageous marketing and investment decisions and further, helps the market players to introduce changes that will help the market to dwell during the ongoing forecast period that will be ending in 2030.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: USD 22.15 Billion
  CAGR   5.17% CAGR (2022 to 2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Cargo Type, End-Use Industry, Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   A.P Moller – Maersk (Denmark), CMA CGM Group (France), and MSC Mediterranean Shipping Company S.A. (Switzerland), Panalpina World Transport (Holding) Ltd. (Switzerland), and DB Schenker (Germany).
  Key Market Opportunities   Increased market demand, and the constant government support
  Key Market Drivers

  • Free trade agreements and establishment of new ports
  • Growing imports and exports of liquid, dry, general, and container cargo trade
  • Developments in the infrastructure of the port, the increased market demand, and the constant government support


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    Frequently Asked Questions (FAQ) :

    Cargo shipping market is projected to grow at a 5.17% CAGR between 2022-20230.

    Cargo Shipping Market worth USD 22.15 Billion by 2030

    The Asia Pacific is expected to lead the cargo shipping market.

    Free trade agreements and establishment of new ports are boosting the cargo shipping market growth.

    Different end use industries of the cargo shipping market include electrical and electronics, oil and ores, manufacturing, and food.