The global cargo shipping market size will expand owing to increasing government support and growing sea-borne trade between nations during the forecast period. Cargo shipping is generally the activity involving transfer of materials between the buyers and the sellers. This information is published by Fortune Business Insights, in its latest upcoming report, titled “Cargo Shipping Market Size, Share & Industry Analysis, By Cargo Type (Dry Cargo Container, Bulk, General, Hazardous, Petroleum), By End-Use Industry Type (Food, Manufacturing, Oil and Ores, Electrical and Electronics) Others and Regional Forecast, 2019-2026.”According to our data, about 90% of trade is efficiently carried out through seaways. Cargo shipping involves containers of various types and sizes that transport the materials from one place to another.
The cargo that is transferred include various types such as dry, general, hazardous, and petro-chemicals cargo. According to the International Chamber of Shipping (ICS), about 50,000 merchant ships trade across the globe, that transport every type of cargo to their respective destinations.
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What does the Report Include?
The market report offers a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period.
In addition to this, the report includes information sourced from advice of expert professionals from the industry by our research analysts using several research methodologies. Moreover, it contains an exhaustive study of the landscape comprising of key players, strategies used by them, and recent product launches for the market growth between 2019 and 2026.
Drivers and Restraints:
Increasing Sea-Trade Will Favor Growth
Shipping is believed to be the backbone of several economies. Without shipping services, it would be difficult to transfer raw materials, food and life essentials to regions not connected by land. Growing efficiency of shipping as a transportation medium and increasing economic liberty across several economies is anticipated to drive the growth of the market during the projected horizon. Additionally, advancement in technologies has propelled the shipping trade to adopt swift methods for delivery of shipments.
Asia-Pacific to Remain Dominant; Increasing Market Demand Will Boost Growth
Among the regions, Asia-Pacific will hold the major cargo shipping market share in the forthcoming years. This is ascribable to factors such as favorable government policies and increasing demand for cargo shipments. Furthermore, countries such as China and India that are major manufacturing hubs will contribute to the growth of the market in Asia-Pacific.
Moreover, countries such as China being the biggest exporter of goods, will drive the growth of the market in this region during the forecast period. On the other hand, Europe is anticipated to be the second-most leading region for the market. This is attributable to factors such as increasing government initiatives to promote trade and growing global demand. Countries such as Netherland, the U.K., Sweden, Germany, and Italy will positively impact the growth of the market in Europe between 2019 and 2026.
DHL Global Forwarding Collaborates to Form Arabian Cluster
In March 2020, DHL Global Forwarding, a global freight services provider, announced its formation of Arabian cluster comprising of countries such as Saudi Arabia, Kuwait, Iraq, and Bahrain. Moustafa Elbanhawi, CEO of the Arabian Cluster, reports, “The Middle East is a vital region for our operations. Furthermore, implementation of several number of reforms to ease international trade has helped us in our endeavor.
The economy is expected to boost faster owing to initiatives to improve Jeddah Port’s infrastructures and deployment of new electronic clearance systems at the borders of Kuwait. The companies adopting various strategies to gain maximum of the market is expected to boost the growth of the market during the forecast period.
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List of the Companies Operating in the Global Cargo Shipping Market:
- CMA-CGM SA
- Mediterranean Shipping Company S.A.
- DHL Global Forwarding
- Nippon Express Co., Ltd.
- Ceva Logistics
- P. Moller-Maersk Group
- Panalpina World Transport (Holding) Ltd.
- China COSCO Holdings Company Limited
- Deutsche Bahn AG
- Hapag-Lloyd AG
- Among the other players.
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