Cargo Shipping Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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Cargo Shipping Market By Cargo Type (Container Cargo, Bulk Cargo and General Cargo), By End-User (Food Industry, Oil & Gas, Metal Ores, and Electrical & Electronics), and Geography

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Report

Description

Cargo Shipping Market size was valued at USD 11.26 billion in 2021, growing at a CAGR of 4.6% during the forecast period 2022–28. Cargo means the items or supplies transported by a ship, aeroplane, or vehicle. Transporting commodities from a port to a destination via ships, cargo ships, and other vehicles is known as cargo shipping. The main benefit of cargo shipping is that it makes it possible to transport heavy items that cannot be transported by land or air. Cargo shipping does have one problem, though. Compared to other forms of transportation, these are slow. Cranes and other similar equipment are typically included on cargo ships in order to load and unload the cargo. The least expensive form of transportation is shipping, per tonne. Due to its affordable and effective long-distance transportation with reduced environmental contamination, it is favoured. The impact of COVID-19 on the world has been extraordinary and astounding, with the pandemic causing a negative demand shock in every region. The demand for waterborne freight transportation is on the rise due to the increased import and export of manufactured goods, bulk transit of raw materials, and the availability of low-cost food. The trade of manufactured and intermediate goods has been boosted by the expansion of the global supply chain, the liberalisation of trade rules, and technological advancements in waterborne shipping, which have greatly decreased the costs of coordination and transportation. Thus, the expansion of the cargo shipping business is due to growing economic liberalisation, particularly in developing economies, and the improved efficiency of shipping as a medium of transportation. The pandemic also had a big effect on oil and gas trade since it caused the global oil demand to decline due to the disruption of a substantial portion of the world’s economy, travel and transportation bans, and decreases in industrial production and refinery output. The majority of analysts are, nevertheless, upbeat about the rebound in dry bulk shipping volumes in 2021. Rapid urbanisation, industrialisation, and economic expansion are the main causes of this issue. A significant growth engine for the global shipping sector will be the steady advancement and greater investment in transportation and other infrastructure, both of which require significant amounts of steel and other industrial materials and goods. As a result of these capacity restrictions, major carriers have avoided charging low costs for cargo/freight shipping services. The major container ports have less activity as a result of the decreased demand for these shipping services.

Recent Market Developments:

In September 2020, the CMA CGM Group sent one of its biggest container ships, the CMA CGM BRAZIL, to the U.S. East Coast to work on the once-weekly Columbus JAX route.

In May 2021 – To maintain service continuity and streamline impacted operations, MSC is collaborating with blockchain platform WAVE to expand general use of its (charges connected to loading of products) in India.

Cargo Shipping Market

MARKET SUMMARY
-
4.6%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 4.6%
  • Largest Market– Asia Pacific
  • Fastest Growing Market–  North America

Cargo Shipping Market

  • The report on global cargo shipping market gives historical, current and future market sizes (US$ Bn) on the basis of cargo type, end-user, and geography.
  • The cargo shipping market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • CMA-CGM SA
  • Hapag-Lloyd AG
  • Deutsche Bahn AG.
  • Moller-Maersk Group
Cargo Shipping Market Dynamics

A growing number of carriers are collaborating with startups in the shipping sector that concentrate on gathering data on cargo movements and vessels, which can, among other things, enable efficient cargo routing and improved vessel deployment. Startups like Transmetrics, for instance, concentrate on analysing cargo placement data to precisely forecast cargo volumes that can assist carriers in avoiding empty back-haul journeys. As a result, more income from the cargo shipping business is anticipated from the capacity optimization of deployed boats. A significant portion of the volume of cargo shipped globally uses the Trans-Pacific shipping route. However, imports from China have increased in price as a result of trade disputes, particularly between China and the United States. Therefore, carriers have drastically reduced capacity, particularly on the Trans-Pacific route, as they anticipate a decline in demand and volume. Additionally, certain industries have seen uncertain investment plans and rising input costs. They were forced to move production facilities out of China and into places like South-East Asia and Eastern Europe. As a result, the market’s expansion is likely to be constrained by rising trade tensions.


Asia Pacific Got Significant Share

Cargo Shipping Market

On the basis of regions, the market share is divided into North America, Asia-pacific, Europe, the Middle East, and the African region. The market for cargo shipping is expected to be the highest in the Asia-Pacific region. The Asia-Pacific area is regarded as a centre for the production of automobiles. Regionally and globally, China held the greatest market share for cargo shipping. However, the escalation of tariffs between China and the U.S. is anticipated to have a substantial influence on the cargo delivered globally, reorganising the supply chain, and diverting trade flow, raising costs for consumers and manufacturers. However, according to a survey by the American Chamber of Commerce in China, South-East Asia (SEA) is where American manufacturing companies choose to shift their facilities from China, with only 6% considering moving to the United States. Therefore, it is anticipated that these factors are expected to fuel the Asia Pacific market. Furthermore, Middle East and Africa market is anticipated to expand at significant growth rate over the forecast period due to increased trading volumes coupled with improved port connection, increasing focus on renovating and enlarging existing ports. Europe is also anticipated to see high growth in the industry due to port call optimization and significant infrastructure investment that has allowed for quicker loading and unloading of goods in nations like the UK., Spain, and Germany.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The market report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Cargo Shipping Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

In September 2020, the CMA CGM Group sent one of its biggest container ships, the CMA CGM BRAZIL, to the U.S. East Coast to work on the once-weekly Columbus JAX route.

The cargo shipping market size is poised to grow at a significant CAGR of 4.6% over 2022–2028.

The cargo shipping market is valued at USD xx billion in 2021.

The container cargo segment holds the highest market share.


Report

Company Profile

  • CMA-CGM SA
  • Hapag-Lloyd AG
  • Deutsche Bahn AG.
  • Moller-Maersk Group
  • Ceva Logistics
  • Mediterranean Shipping Company S.A
  • Panalpina World Transport (Holding) Ltd.
  • DHL Global Forwarding
  • China COSCO Holdings Company Limited
  • Nippon Express Co., Ltd

Description

Cargo Shipping Market size was valued at USD 11.26 billion in 2021, growing at a CAGR of 4.6% during the forecast period 2022–28. Cargo means the items or supplies transported by a ship, aeroplane, or vehicle. Transporting commodities from a port to a destination via ships, cargo ships, and other vehicles is known as cargo shipping. The main benefit of cargo shipping is that it makes it possible to transport heavy items that cannot be transported by land or air. Cargo shipping does have one problem, though. Compared to other forms of transportation, these are slow. Cranes and other similar equipment are typically included on cargo ships in order to load and unload the cargo. The least expensive form of transportation is shipping, per tonne. Due to its affordable and effective long-distance transportation with reduced environmental contamination, it is favoured. The impact of COVID-19 on the world has been extraordinary and astounding, with the pandemic causing a negative demand shock in every region. The demand for waterborne freight transportation is on the rise due to the increased import and export of manufactured goods, bulk transit of raw materials, and the availability of low-cost food. The trade of manufactured and intermediate goods has been boosted by the expansion of the global supply chain, the liberalisation of trade rules, and technological advancements in waterborne shipping, which have greatly decreased the costs of coordination and transportation. Thus, the expansion of the cargo shipping business is due to growing economic liberalisation, particularly in developing economies, and the improved efficiency of shipping as a medium of transportation. The pandemic also had a big effect on oil and gas trade since it caused the global oil demand to decline due to the disruption of a substantial portion of the world’s economy, travel and transportation bans, and decreases in industrial production and refinery output. The majority of analysts are, nevertheless, upbeat about the rebound in dry bulk shipping volumes in 2021. Rapid urbanisation, industrialisation, and economic expansion are the main causes of this issue. A significant growth engine for the global shipping sector will be the steady advancement and greater investment in transportation and other infrastructure, both of which require significant amounts of steel and other industrial materials and goods. As a result of these capacity restrictions, major carriers have avoided charging low costs for cargo/freight shipping services. The major container ports have less activity as a result of the decreased demand for these shipping services.

Recent Market Developments:

In September 2020, the CMA CGM Group sent one of its biggest container ships, the CMA CGM BRAZIL, to the U.S. East Coast to work on the once-weekly Columbus JAX route.

In May 2021 – To maintain service continuity and streamline impacted operations, MSC is collaborating with blockchain platform WAVE to expand general use of its (charges connected to loading of products) in India.

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