Cargo Shipping Market Expected to Reach 17.07 Billion Tons by 2029, Driven by Growing Global Trade
Cargo Shipping Market Report Overview
Cargo shipping, a vital component of global trade, facilitates the transportation of various goods and materials via marine vessels such as tankers, container vessels, and multi-purpose vessels. The market dynamics are influenced by factors such as infrastructure development, globalization trends, and trade agreements, driving the demand for efficient cargo shipping solutions.
Market Dynamics: The cargo shipping market is propelled by initiatives to enhance port infrastructure, globalization trends, and favorable trade agreements aimed at improving international trade. Growing demand for consumer goods, crude oil, and other commodities necessitates infrastructure growth to meet consumer needs, further driving market growth. However, challenges such as cargo rollover incidents and disruptions in the maritime supply chain pose restraints to market expansion.
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Market Size: The cargo shipping market, which stood at 12.48 billion tons in 2022, is anticipated to witness substantial growth, with the volume expected to reach 17.07 billion tons by 2029, reflecting a CAGR of 4% during the forecast period.
Cargo Shipping Market Report Scope and Research Methodology
The primary goal of the Cargo Shipping market report is to offer a comprehensive analysis using clear and straightforward language. The study encompasses all the prominent companies and key aspects within the Cargo Shipping market, evaluating various measures like volume, share, growth, and strategies. This research not only assists established businesses in refining their operational plans but also provides future entrants with strategic recommendations. MMR's research undertakes a thorough exploration of the Cargo Shipping market, highlighting the foremost global companies based on metrics such as volume, share, strategies, and growth. The report further supplies strategies applicable to both existing industry participants and prospective Cargo Shipping market entrants. Moreover, the global report for the Cargo Shipping market presents a meticulous breakdown of regional share distribution, accompanied by an examination of growth drivers in those specific regions.
Regional Insights:
The report offers regional insights into the Cargo Shipping Market, highlighting Europe's leadership in Cargo Shipping research and development. With significant investments and government support, Europe is poised to play a key role in driving the growth of the Cargo Shipping market. However, challenges such as technical complexities and regulatory hurdles remain significant obstacles to overcome.
Cargo Shipping Market Segmentation :
With a 41% share, the tanker segment of the market by vessel dominated the industry in 2022. Tankers are cargo shipping boats that are frequently used to move bulk liquid and gas commodities. They are the best option for moving gas, chemicals and petrochemicals. refinery. Depending on how much cargo they can transport, some frequent types of tankers utilised for service applications are oil, chemical, and gas tankers. Extended journeys and port visits by a limited number of boats can be advantageous. The projected growth rate for this segment is 3.4% CAGR during the forecast period.
In terms of vessel cargo, the 1,4000–18,000 TEU sector held a 41% market share in 2022. This category includes ultra-large container vessels with capacities of 15,000 and above, as well as Neo-Panamax vessels with capacity of 1400015000 TEU. Neo-Panamax vessels are 43 metres wide, medium to large vessels that can accommodate 19 rows of containers similar to Suezmax tankers, while ultra-large vessels are the largest vessels that can accommodate containers.
Cargo Shipping Market Key Players :
1. CMA-CGM SA 2. A.P. Moller-Maersk Group 3. China COSCO Holdings Company Limited 4. Mediterranean Shipping Company S.A. 5. Panalpina World Transport (Holding) Ltd. 6. DHL Global Forwarding 7. Nippon Express Co., Ltd 8. Hapag-Lloyd AG 9. Ceva Logistics 10. Deutsche Bahn AG 11. DB Schenker 12. Evergreen Marine 13. Hamburg Sud Group 14. Mitsui O.S.K Lines, Ltd. 15. Pacific International Lines (PIL) 16. Yang Mang Marine Transport Corporation
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Key Offerings:
- Past Market Size and Competitive Landscape (2017 to 2021)
- Past Pricing and price curve by region (2017 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments and their sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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