Global Cargo Shipping Market – Industry Trends and Forecast to 2029

Global Cargo Shipping Market, By Type (Tramp Ships and Linear Ships), Cargo Type (Container Cargo, Bulk Cargo, General Cargo and Passenger), End User (Food and Beverages, Manufacturing, Oil and Gas, Metal Ores and Electrical and Electronics and Others) - Industry Trends and Forecast to 2029

Market Analysis and Size

The rise in the number of cargo shipping is being witnessed around the world due to the trade liberalization and global economic growth. Various type of storage, loading, unloading and securing require different types of ships for transportation. A direct increase in commodity consumption has been seen with economic growth and development.

Global Cargo Shipping Market was valued at USD 11.36 billion in 2021 and is expected to reach USD 16.43 billion by 2029, registering a CAGR of 4.72% during the forecast period of 2022-2029. Manufacturing accounts for the largest end user segment in the respective market owing to the growing economy. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Cargo ships are the ships responsible for transporting goods and materials of all kinds from one destination to another. The biggest advantage of cargo shipping is that it allows the transportation of the bulkiest goods which is not possible via roadways or airways. However, there is one drawback to cargo shipping. These are slow as compared to other modes of transportation. Cargo ships are generally equipped with cranes and other similar equipment to load and unload the cargo.

Report Scope and Market Segmentation

Cargo Shipping Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rise in Logistics Services

The increased need for less expensive shipping, capability to recognize the consumers’ demands, and reply rapidly with logistics services acts as one of the major factors driving the growth of cargo shipping market. Furthermore, increase in the trade agreements between nations also aid in the rising in the growth of the freight forwarding market.

• Growth in E-Commerce Sector

The swift growth and growing of acceptance of e-commerce across the globe owing to the increased purchasing capabilities of population accelerate the market growth. The increase in the incidences of inter-country trade and the rising need for low-cost trade solution from several users assist in the expansion of the market.

• Increase in Warehouses

The surge in number of warehouse developments in the advancing countries further influence the market. The rise in need from the manufacturing industry for supply and demand chains has a positive impact on the growth of the market.

Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the cargo shipping market.

Opportunities

Furthermore, widespread establishment of new ports extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, expansion of shipping industry will further expand the market.

Restraints/Challenges

On the other hand, stringent environmental and safety regulations and surge in freight rates are expected to obstruct market growth. Also, uncertain climatic conditions and unfavourable geopolitics are projected to challenge the cargo shipping market in the forecast period of 2022-2029.

This cargo shipping market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on cargo shipping market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Cargo Shipping Market

The COVID-19 had a negative impact on cargo shipping market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand for freight forwarding market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the cargo shipping market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.

Global Cargo Shipping Market Scope and Market Size

The cargo shipping market is segmented on the basis of type, cargo type and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Tramp Ships
• Linear Ships

Cargo Type

• Container Cargo

                               20 foot (6.08 m) twenty-foot equivalent unit (TEU)

                               40 foot (12.8 m) forty-foot equivalent unit (FEU)

                               45 foot (13.7m)

                               48 foot (14.6m)

• Bulk Cargo

                       Commodity

                       Materials

                       Oil

• General Cargo

                        Solids

                        Raw Materials

• Passenger

End User

• Food and Beverages
• Manufacturing
• Oil and Gas
• Metal Ores
• Electrical and Electronics
• Others

Cargo Shipping Market Regional Analysis/Insights

The cargo shipping market is analyzed and market size insights and trends are provided by country, type, cargo type and end user.

The countries covered in the cargo shipping market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the cargo shipping market due to the increasing customer choosing to purchase online within the region.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the growing of industrialization, increasing number of developing countries, and acceptance of online e-commerce portals in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Cargo Shipping Market

The cargo shipping market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cargo shipping market.

Some of the major players operating in the cargo shipping market are

• YANG MING Group. (Taiwan)
• Evergreen Marine Corp. (Taiwan) Ltd. (Taiwan)
• Ocean Network Express Pte. Ltd. (Singapore)
• Mitsui O.S.K.Lines (Japan)
• Pacific International Lines Pte Ltd (Singapore)
• CMA CGM Group (France)
• A.P. Moller – Maersk (Denmark)
• CHINA COSCO SHIPPING (China)
• MSC Mediterranean Shipping Company S.A. (Switzerland)
• Panalpina World Transport (Holding) Ltd. (Switzerland)
• DHL International GmbH (Germany)
• Nippon Express Co., Ltd (Japan)
• Hapag-Lloyd AG (Germany)
• CEVA Logistics AG (France)
• Deutsche Bahn AG (Germany)
• DB Schenker (Germany)