Cargo Shipping Market: Global Industry Analysis and Forecast (2022-2029) by Vessel, Vessel Cargo and Region

Cargo Shipping Market size was volume at 12.48 Bn. Tons in 2021. Tankers, one of the segments reviewed in our reports dominated the Cargo Shipping Market.
Cargo Shipping Market Overview:
Cargo shipping generally refers to marine transport by container ship. Different types of vessels are used, including tankers, refrigeration vessels, and multipurpose vessels, depending on the end-user's transportation requirements. They are responsible for transporting goods and materials of all kinds from one terminus to another. Cargo shipping allows the transport of the bulkiest goods which is not possible via roadways or airways.

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Cargo Shipping Market Dynamics:
The growing initiative to improve port infrastructure through government support or investment by shipping companies is one of the main drivers of the cargo shipping market. Increasing trends in globalization and demographic changes also driving the market growth.

The growing demand for consumer goods, crude oil, and many other related products has also increased the need for infrastructure growth in ports to meet consumer demand over time. Elements such as adaptive secure communications in the port, IT architecture, etc. are being introduced to support the marine infrastructure. These factors are driving the demand for cargo shipping.

The increasing number of favorable trade agreements aimed at improving trade between countries can be seen as one of the major factors driving the growth of the cargo shipping market. Trade agreements are essential for importers and businesses to easily obtain cheap commodities at reasonable prices and are therefore one of the key factors in promoting better and optimal sea trade.

Dangerous goods are the most important cargo in the shipping industry as they contain toxic substances such as nuclear waste, chemicals, explosives, liquefied gas, and petroleum. These loads are marked with hazard signs and are described in certain documents. Dangerous goods are loaded and unloaded with special loading/unloading arrangements. Direct increases in raw material consumption due to economic growth and development. These factors are driving the growth of the market.

Cargo rollover conditions are primarily due to increased demand during periods of usually low volume or the traditional seasonal decline in cargo flow and this tends to delay shipments. Increasing cargo handling due to marine shipping supply chain issues is restraining the market growth of cargo shipping.

With the progress of globalization and the increase in supply and demand of marine transportation, the government's goal of expanding infrastructure and achieving a good balance of payments. Increasing food and beverage consumption and a rapidly changing demographic economy. These factors are driving the market growth.

An increase in rollover incidents is causing congestion in major ports, forcing various airlines to cancel their trips to keep up with the suspended schedule. The transition to alternatives such as air cargo can also have a negative impact on cargo shipping transport due to disruptions in the maritime cargo supply chain and long-term port congestion issues. These factors are expected to restrain the market growth of cargo shipping through the forecast period.
Market Trends: -
In February 2020, container shipping company Hapag Lloyd launched Hapag Lloyd LIVE, a tool for monitoring the supply chain of refrigerated vessels. This real-time monitoring solution was developed to increase the transparency of the cold chain by providing customers with a set of datasets about the condition and location of refrigerated containers.

In March 2019, Yang Ming Marine Transport Corporation announced the launch of two super-large container vessels, YM Warranty and YM Wellspring, with a capacity of 14,000 TEU. These vessels were designed with a nominal capacity of 14,220 TEU with 1000 refrigeration plugs capable of reaching speeds of up to 23 knots.
Cargo Shipping Market Segment Analysis:
By Vessel, the tanker segment dominated the market in 2021 with a 41% share. Tankers are cargo shipping vessels commonly used to transport bulk liquid and gas commodities and are ideal means of transporting chemicals, petrochemicals, and gas. Refinery. Oil tankers, chemical tankers, and gas tankers are some of the common types of tankers used for service applications based on their cargo-carrying capacity. These vessels can benefit through longer voyages, involvement of a small number of ports, etc. This segment is expected to grow at a CAGR of 3.4% through the forecast period.

Multi-Purpose vessels are expected to grow at a CAGR of 4 % through the forecast period. Increasing usage of vessels and rising shipping for various commodities around the globe. These factors are expected to drive the market growth through the forecast period.

By Vessel Cargo, 1,4000 to 18,000 TEU segments dominated the market with 41 % share in 2021. Neo-Panamax vessels with capacities (1400015000 TEU) and ultra-large container vessels with capacities (15,000 and above) are classified in this segment. Neo-Panamax refers to medium to large vessels that are 43 meters wide and can carry 19 rows of containers comparable to Suezmax tankers, and ultra-large container vessels are at least the largest container vessels with capacity. Applies length 366 meters, width 49 meters, draft 15.2 meters and above. This gives an edge in the dangerous end-user market. These factors are driving the market growth of the segment in cargo shipping. This segment is expected to grow at a CAGR of 4 % through the forecast period due to an increase in the use of hazardous materials.

The 10,000 to 14,000 TEU segment is expected to achieve a CAGR of 4% through the forecast period. An intelligent ship system for transporting goods such as metal ore and coal. These vessels are equipped with a 58,000hp main engine, which further enhances these vessels to prevent the containers on the deck from obstructing the view of the bridge and to maximize the cargo load before configuration. They are suitable for long-run voyages. These factors are expected to drive the segment through the forecast period.


Cargo Shipping Market Regional Insights:
The Asia Pacific region dominated the market in 2021 with a 40% share. Increasing market demand and government support, and China, the largest exporter of commodities with cargo shipping. The rapid increase in intra-regional trade, primarily based on manufacturing, reflects the production process in which parts are generally manufactured in multiple locations in Asia and assembled in different locations. These factors are driving the growth of the market in this region.

Europe is expected to grow at a CAGR of 5 % through the forecast period. Increasing European Union initiatives, increasing global demand increased urbanization and industrialization in the region. These factors are expected to drive the market growth in this region through the forecast period.



Target Audience: - Shipping Companies, Shipbuilding Companies, Customers, Downstream stakeholders, Government regulatory authorities, Investment firms, Equity research firms., Private equity firms.

The objective of the report is to present a comprehensive analysis of the Cargo Shipping market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Cargo Shipping market dynamics, structure by analyzing the market segments and projecting the Cargo Shipping market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Cargo Shipping market make the report investor’s guide.
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Cargo Shipping Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
12.48 Bn. Tons


Forecast Period 2022 to 2029 CAGR:
4 %
Market Size in 2029:
17.07 Bn. Tons


 Segments Covered:
by Vessel
• Multi-Purpose Vessels
• Tankers
• Container Vessels
• Others


by Vessel Cargo
• <1000 TEU
• 1000-14000 TEU
• 14000-18000 TEU
• >20000 TEU



Cargo Shipping Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Cargo Shipping Market Key Players
• CMA-CGM SA
• A.P. Moller-Maersk Group
• China COSCO Holdings Company Limited
• Mediterranean Shipping Company S.A.
• Panalpina World Transport (Holding) Ltd.
• DHL Global Forwarding
• Nippon Express Co., Ltd
• Hapag-Lloyd AG
• Ceva Logistics
• Deutsche Bahn AG
• DB Schenker
• Evergreen Marine
• Hamburg Sud Group
• Mitsui O.S.K Lines, Ltd.
• Pacific International Lines (PIL)
• Yang Mang Marine Transport Corporation
FAQ:
1] What segments are covered in the Cargo Shipping Market report?
Ans. The segments covered in the Cargo Shipping Market report are based on Vessel and Vessel Cargo.

2] Which region is expected to hold the highest share in the Cargo Shipping Market?
Ans. Asia Pacific Region is expected to hold the highest share in the Cargo Shipping Market.

3] What is the market size of the Cargo Shipping Market by 2029?
Ans. The market size of the Cargo Shipping Market by 2029 is 17.07 Bn. Tons.

4] Who are the top key players in the Cargo Shipping Market?
Ans. CMA-CGM SA, A.P. Moller-Maersk Group, China COSCO Holdings Company Limited, Mediterranean Shipping Company S.A., Panalpina World Transport (Holding) Ltd., DHL Global Forwarding, Nippon Express Co., Ltd, Hapag-Lloyd AG, Ceva Logistics, Deutsche Bahn AG, DB Schenker, Evergreen Marine, Hamburg Sud Group, Mitsui O.S.K Lines, Ltd., Pacific International Lines (PIL), Yang Mang Marine Transport Corporation.

5] What was the market size of the Cargo Shipping Market in 2021?
Ans. The market size of the Cargo Shipping Market in 2021 was 12.48 Bn. Tons.