Summary

Global Cargo Shipping Market is expected to grow at a significant rate of around 5% during the forecast period. The global cargo shipping market refers to the movement of goods and products from one place to another using cargo ships. It is a highly competitive industry, with players ranging from large multinational corporations to smaller local operators. The market is influenced by several factors, such as trade policies, economic growth, demand for goods, technological advancements, and fuel prices. The increasing trend of e-commerce has also boosted the demand for cargo shipping services. However, the industry faces challenges such as overcapacity, increased regulation, and environmental concerns. The adoption of digital technologies, such as blockchain and autonomous ships, is expected to bring efficiency and cost savings to the industry in the future. Overall, the global cargo shipping market is expected to grow in the coming years, driven by the continued growth of international trade and the increasing demand for goods and products.

YANG MING Group, A.P. Moller – Maersk, Mediterranean Shipping Company S.A., CHINA COSCO SHIPPING, CMA CGM Group, Hapag-Lloyd AG, Ocean Network Express Pte. Ltd., Evergreen Marine Corp. (Taiwan) Ltd., Pacific International Lines Pte Ltd, and HMM CO., LTD..are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst cargo type, Dry cargo category to witness higher CAGR during the forecast period”
Based on cargo type, the market is segmented into liquid, dry, container and general. The dry cargo segment is expected to witnesse a higher CAGR during the forecast period owing to factors such as increased demand for bulk commodities such as coal, iron ore, and grains. Additionally, technological advancements in cargo handling and storage have made it easier to transport and store dry cargo, increasing its popularity among shippers. For instance, Connecting onboard sensors to shore for data analytics will improve ship and fleet operations in multiple ways, such as optimized maintenance, cargo handling, and route planning, savings in fuel and lubes consumption, and reduced service costs. Ships of the future will have an entire network of sensors measuring all aspects of operations. Furthermore, The growth of e-commerce has led to an increased demand for dry cargo shipping, as many online purchases are delivered through dry cargo ships. These factors have contributed to the increased demand for dry cargo transportation and the corresponding growth of the dry cargo market segment.

“Amongst end users, the automotive segment to witness higher CAGR during the forecast period”
On the basis of end users, the market is categorized into food & beverage, oil & gas, automotive, pharmaceutical, electrical & electronics (E&E), and others. Among these, electrical & electronics witness higher CAGR during the forecast period. The E&E industry is continuously evolving, with new technologies being developed and introduced into the market. These advancements are driving the growth of the E&E cargo shipping market. The rapid growth of the e-commerce industry has resulted in a significant increase in the demand for shipping services, as more and more people are purchasing goods online. Additionally, the growth of global trade has led to an increased demand for advanced electronics all over the world. Overall, these factors are contributing to the growth of the E&E market in cargo shipping and are expected to drive further growth in the coming years.

“Asia Pacific to hold a significant share in the market.”
As of 2021, the Asia-Pacific region has a significant share of the global cargo shipping market. The Asia-Pacific region has some of the world's fastest-growing economies, such as China and India, leading to a high demand for goods and increased shipping activity in the region. This region is home to many manufacturing hubs, particularly in countries like China and Japan, which results in a high volume of exports from the region. Additionally, the Asia-Pacific region has the largest population in the world, leading to a high demand for consumer goods and a large domestic market for cargo shipping. Furthermore, many countries in this region are investing in developing their transportation infrastructure, including ports, roads, and railroads, which is boosting the cargo shipping market. These factors have combined to make the Asia-Pacific region the largest market for cargo shipping in the world.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global cargo shipping market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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