Cargo Shipping Market Trends, Active Key Players and Growth Projection Up to 2031 | TMR Study

Cargo shipping means transportation of goods of various types through ships from one location to another. The cargo transported by ships can be of various types. Dry cargoes are common traded goods such as metals, white-goods, paper, etc. that are transported by ships. Shipping cargoes are transported through large cuboidal shaped containers. Reefer cargo or refrigerated cargo means food and perishable items. They are transported through special dehumidified containers providing a temperature range from ~ -35 degrees to up to ~ +30 degrees when the ambient temperature is up to 50 degrees. Food items, rare and precious items, hazardous items such as chemicals and coffee can also be transported by ships. The Baltic Dry Index (BDI) is an index with provides information on prices of moving raw materials or cargo by sea. The indictor is issued by London-based Baltic Exchange. The cargos that are generally shipped are electrical and electronics equipment, iron ore, diesel, petrol, fruits, drinks, solids, manufacturing raw materials, bulk cargo consisting of commodity, materials and oil.

By geography the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. North America is a prominent cargo shipping market in the world. The U.S. is the largest market in the region. Canada and Mexico are other major market in North America. Europe is one of the largest cargo shipping market in the world. Germany, Italy, France, Spain, the U.K, Belgium, Sweden and Netherlands are major markets in Europe. Asia Pacific is one of the largest cargo shipping market in the world. China which is one of the largest exporter in the world is the largest market for cargo shipping in the Asia Pacific region. Japan, India, South Korea and Australia are other major markets in Asia Pacific. Middle East and Africa is a significant cargo shipping market led by Iran, Saudi Arabia, Turkey and South Africa. Latin America is another major cargo shipping market led by Brazil and Argentina. Brazil is the largest market in the region.

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By cargo type the market is segmented into dry cargo, hazardous cargo, reefer cargo and over-sized cargo. By vessel type the market is segmented into less than 2,300 Twenty-foot Equivalent Unit (TEU), 2,300 – 4,000 TEU, 4,000 – 6,000 TEU, 6,000 – 8,000 TEU, 8,000 – 10,000 TEU, 10,000 – 13,000 TEU, 13,000 – 15,000 TEU, 15,000 – 18,000 TEU and more than 18,000 TEU. By industry the market is segmented into food & beverages, chemical, manufacturing, oil & gas, white-goods, etc.

Rising imports of soybeans, coal and iron ore to China from Australia, Brazil, etc have not increased the shipping rates and increased the demand for cargo shipping. Due to increase in new shipping vessels, shipping prices of commodities have not increased. Growth in foreign trade agreements such as NAFTA (North Atlantic Free Trade Agreement), TPSEP (Trans-Pacific Strategic Economic Partnership) and AFTA (ASEAN Free Trade Area), etc. is increasing the demand of cargo shipping market. A restraint for cargo shipping is goods and materials transported through air. As air transport is faster than transportation by ships, the former is the preferred mode of transport for quick transportation.

The report mentions the diverse competitive strategies implemented by key players operating in the market to gain market share. Company profiles mention company details, market presence by geography and segments, strategic overview, SWOT analysis and historical revenue. The report also contains details of market share analysis of key players in the market. The major firms operating in the market are A.P. Moller – Mærsk A/S (Denmark), Mediterranean Shipping Company SA (Switzerland), China Cosco Holdings Company Limited (China), CMA CGM S.A (France), Hapag-Lloyd AG (Germany), CEVA Logistics (the Netherlands), Panalpina Welttransport (Holding) AG (Switzerland) and Nippon Express Co. Ltd. (Japan).

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