The cargo shipping market is estimated to augment at a modest growth rate during the forecast period. Cargo shipping is the process of transporting commodities, goods, and cargo by the water route. The cargo shipping can be domestic or international however most of the cargo ships are operating at the international routes. Cargo ships are preferred over air and land routes due to very low cost and ability to transport goods in bulk. As per the United Nations, around 80% of the international global trade is done through cargo ships each year.
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Rise in the global trade, increasing import and export of the liquid, dry, general, and container cargo trade in Asia Pacific & the Middle East countries are some of the major factors for the growth of the cargo shipping market. Moreover, the rapid growth of the end-user industries is also propelling the market growth. In addition, the establishment of the new ports and extension of the existing ports are also motivating market growth. For instance, Sweden’s new freight port Stockholm Norvik Port became operational in May 2020. Russia is expected to invest $4.13 billion to connect Asia with the Arctic Ocean by modifying its port in Indiga and Arkhangelsk. The country has spent $5 million to prepare for the construction of a deepwater year-round port.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Cargo Shipping Market- Segmentation
By Industry Type
- Metal & Non-Metal
- Fossil Fuel
- Food & Beverage
- Electronics
- Automotive
- Chemical & Pharmaceuticals
- Machinery
- Textile
- Others
By Vessel Type
- Oil Tankers
- Bulk Carriers
- General Cargo Ships
- Container Ships
- Other
Regional Outlook
North America
- US
- Rest of North America
Europe
- UK
- France
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- The Middle East and Africa
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global Cargo Shipping market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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