Global economic growth and globalization have made a case for the growth of the cargo shipping market. Market Research Future (MRFR) has published an in-depth report on the global cargo shipping market that provides meaningful insights on the same, derived after a thorough analysis of the pertinent trends and factors impacting the market over the forecast period of 2017-2023. MRFR has projected a CAGR of 3.45% in the cargo shipping market over the forecast period.
ALSO READ:
The rise in sea-borne trade, supported by the upswing in economic conditions, has helped the cargo shipping market gather momentum. Globalization has had a catalyzing effect on containerized trade, which along with structural shifts in developing economies such as China, India, and shifts in global value chain development patterns has also supported the growth of the cargo shipping market. Other factors bolstering the market growth of cargo shipping include the prolific growth of the e-commerce industry, heightened demand for consumer goods across the globe, and expansion of world fleet capacity.
The cargo shipping market is currently being influenced by a number of emerging technologies. The introduction of remote predictive diagnostics and automated processes powered by big data analytics and artificial intelligence has enabled performance enhancement, cost reduction, and increase the uptime of vessels. In addition, increased connectivity of cargo ships with real-time monitoring has also been achieved. Deployment of technologies such as AI to satellite, AIS, and other geospatial data sources, algorithms in cargo shipping has helped to optimize vessel deployment, cargo optimization, repositioning, and to discover more trading opportunities. Thus, digitalization in the cargo shipping space is likely to be the roadmap for the expansion of the cargo shipping market.
Segmentation
The global cargo shipping market has been segmented based on cargo type and industry.
By cargo type, the cargo shipping market has been segmented into container cargo, bulk cargo, and general cargo.
By industry, the cargo shipping market has been segmented into food, oil & ores, manufacturing, and electrical & electronics.
Regional Analysis
Region-wise, the cargo shipping market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
APAC is the principal cargo shipping market. The region has transformed itself as a manufacturing hub, especially China, where companies such as Maersk, Hapag-Lloyd, and others have set up their manufacturing cases. The advantages of low operating cost and relatively cheap labor, which attracts various global players to the region, which has increased international trade considerably. Production of goods at an accelerated pace along with the presence of overseas trade route in countries such as India and China can support the market growth in APAC.
Europe is the second largest cargo shipping market and driven by the demand for cargo shipping experienced from the automotive sector. Shipping of automotive parts through cargo shipping is economical as compared to other transportation mode and is highly preferred.
North America is an important revenue pocket for cargo shipping market. High demand for consumer goods in the region has boosted international trade in the region, which reflects favorably on the cargo shipping market.
Competitive Landscape
The notable players in the global cargo shipping market include Panalpina World Transport (Holding) Ltd. (Switzerland), CMA-CGM SA (France), Mediterranean Shipping Company S.A. (Switzerland), Hapag-Lloyd AG (Germany), A.P. Moller-Maersk Group (Denmark), DHL Global Forwarding (Germany), China COSCO Holdings Company Limited (China), Deutsche Bahn AG (Germany), Panalpina Welttransport Holding AG (Switzerland) , and Nippon Express Co., Ltd. (Japan).
Industry Updates
June 2019 - Emirates Global Aluminium, the largest producer of 'premium aluminium' and one of the largest industrial companies, launched its first Capesize vessel which can be docked at any port within GCC. The use of these vessels can reduce the transportation cost to the domestic refinery. It has collaborated with Abu Dhabi Ports for accommodating these large vessels.
June 2019 - General Dynamics NASSCO, an American shipbuilding company, launched first in a new class cargo ship. The cargo ships are intended to be used for the transportation of containers, automobiles, and other vehicles between the West Coast of the United States and Hawaii for the Matson shipping line. The cargo design is equipped with liquefied natural gas-capable main and auxiliary engines which complies with the latest emission requirements.
FOR MORE DETAILS –
https://www.marketresearchfuture.com/reports/cargo-shipping-market-3165
The Cargo Shipping Market 2021 research report gives emerging industry data, global segments and regional outlook.
The report generated using various analysis tools like porter’s five forces model, market attractiveness and value chain.
The report gives comprehensive review of the global market helping to club revenue generation and profitable business to transform client’s success.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the cargo shipping market include A.P.
Moller Maersk, CMA CGM SA, Mediterranean Shipping Company S.A.,DHL Global Forwarding , Panalpina, Ceva, DB Schenker.S.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Cargo Shipping Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/cargo-shipping-market/download-sampleMarket DynamicsThe growth in the global commodity demand that increases seaborne trade is the primary factor driving the Cargo Shipping market.
