Cargo Shipping Market with Emerging Trends 2022-28

According to Precision Business Insights (PBI), latest report, the global cargo shipping market size was valued at USD 11.26 billion in 2021, growing at a CAGR of 4.6% during the forecast period 2022-28. The primary factor that drives the market is the free trade agreements and establishment of new ports and growing imports and exports of liquid cargo trade.

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Container Cargo to Dominate the Cargo Shipping Market:
By cargo type, container cargo segment accounted for highest market share 2021. The market is divided into segments based on the kind of cargo: liquid bulk, dry bulk, general cargo, and container freight. Liquefied petroleum gas (LPG) import demand rises in Europe and India. In addition, rising demand for liquefied natural gas (LNG) in Asia and expanding U.S. supplies are some of the other factors anticipated to contribute to the accelerated growth of the market. Because they can be loaded into rail waggons, ships, and inland barges and transported in bulk in a single trip, the containers' common size makes intermodal transport highly efficient.

Asia-Pacific Dominates the Cargo Shipping Market
Asia-Pacific cargo shipping market is anticipated to dominate over the forecast timeframe. China and India are two major contributors of the APAC market due to the permissive import and export regulations as well as the rapidly changing lifestyle. The establishment of a fully built manufacturing facility would further promote an upward trajectory in the rate of market expansion. A region's growing industrialization and urbanisation are two important elements that affect market expansion indirectly.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.

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The cargo shipping market is segmented based on the cargo type, end-user, and Geography.
Based on the cargo type:
• Container cargo
• Bulk cargo
• General cargo

Based on the end-user:
• Food Industry
• Oil & Gas
• Metal Ores
• Electrical & Electronics

Based on the region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Key players profiles in the cargo shipping market are CMA-CGM SA, Hapag-Lloyd AG, Deutsche Bahn AG., P.Moller-Maersk Group, Ceva Logistics, Mediterranean Shipping Company S.A, Panalpina World Transport (Holding) Ltd., Nippon Express Co., Ltd, China COSCO Holdings Company Limited and DHL Global Forwarding.

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This release was published on openPR.