Cargo Shipping Market Set to Double, Projected at USD 4.2 Trillion by 2031 with a 7% CAGR Growth

According to a new report published by Allied Market Research, titled, "Cargo Shipping Market," 𝐓𝐡𝐞 𝐜𝐚𝐫𝐠𝐨 𝐬𝐡𝐢𝐩𝐩𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐰𝐚𝐬 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 $𝟐.𝟐 𝐭𝐫𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏, 𝐚𝐧𝐝 𝐢𝐬 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐭𝐨 𝐫𝐞𝐚𝐜𝐡 $𝟒.𝟐 𝐭𝐫𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, 𝐠𝐫𝐨𝐰𝐢𝐧𝐠 𝐚𝐭 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟕% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟐 𝐭𝐨 𝟐𝟎𝟑𝟏.

Asia-Pacific dominated the global cargo shipping market in 2021. China is expected to hold a dominant revenue share throughout the forecast period owing to the presence of key companies such as Dongfeng Motor Corporation, and BYD Auto Co. Ltd., among others, and a major manufacturing hub. In addition, the online e-commerce portals in emerging economies in developing countries of Asia-Pacific, the growth of industrialization, and agreements including the ASEAN Free Trade Area (AFTA) are some of the key factors driving the growth of the market in the region.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 :
https://www.alliedmarketresearch.com/request-sample/47688

High-level efficiency and reduced environmental impact are anticipated to support market competitiveness during the forecast period. According to the Swedish Transport and Environment Network, freight transport produces fewer emissions per tonne of freight transported per kilometer than the road, rail, or air transport. This type of transport is also very efficient, with large container ships carrying an average of 10,000 products and goods per trip. For example, nearly 7,600 cars can be handled by a handful of car carriers in one shipment, as opposed to the fleet of trucks and miles of railcars required for the same amount. Therefore, the low environmental impact and high efficiency of this delivery method are mainly driving the growth of the market.

On the basis of cargo type, the global cargo shipping market has been segmented into liquid cargo, dry cargo, and general cargo. liquid cargo is generally classified into edible, non-edible, hazardous, and non-hazardous liquids, increase in demand for fluids, such as chemicals, gases, and oil, across the globe drives the growth of the market. Furthermore, the rise in trade-related agreements leads to the demand for stronger tankers.

Additionally, ship manufacturers are introducing new cargo ships with the support of the government, which will boost the growth of the cargo shipping market. For instance, state government's efforts to start a coastal shipping service connecting Vallarpadam International Transshipment Terminal and minor ports in October 2022, Goa-based Dempo Ship Building and Engineering Ltd completed the construction of MV Beypore Sultan, the type IV river sea vessel built for LOTS Shipping.

The significant factors impacting the growth of the cargo shipping market include growing initiatives to improve port infrastructure through government support and investment by shipping companies. Increasing globalization and changing demographics are also driving the growth of the market. However, the ongoing and upcoming rigorous environmental and safety restrictions and regulatory compliances for the global market are some factors expected to hamper the growth of the market. Conversely, rapid urbanization, change in lifestyle, the surge in investments, and increased consumer spending are key opportunities for the growth of the market. Each of these factors is anticipated to have a definite impact on the market during the forecast period.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/cargo-shipping-market/purchase-options

Furthermore, numerous industries have had to deal with rising input costs and uncertainty in investment plans. Chinese manufacturing plants were forced to relocate to Southeast Asia and Eastern Europe. The global cargo shipping industry is expected to grow rapidly in the future due to technological developments taking place in the market premises that increase the market value of freight forwarding. The sector has significant upside potential due to the rapid expansion of inland waterway freight traffic and the accompanying expansion of port facilities offer lucrative opportunities for the market players during the forecast period.

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The COVID-19 pandemic had an impact on international maritime trade and global supply networks in 2020. According to the International Chamber of Shipping, approximately 100,000 seafarers reach the end of their employment contract and must be repatriated each month. the global market has seen an increase in funding and investment to meet the growing needs of the audience, followed by developments that will boost the growth of the market. Also, the role played by the highly competitive market players will be the most in driving the market size to expand cargo shipping to meet the growing needs of a global audience dispersed across different locations of the global market presence during this period.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By cargo type, the liquid cargo segment is anticipated to exhibit significant growth in the near future.

By ship type, the others segment is anticipated to exhibit significant growth in the near future.

By industry type, the manufacturing segment is anticipated to exhibit significant growth in the near future.

By region, LAMEA is anticipated to register the highest CAGR during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/47688

Key players operating in the global cargo shipping market include 𝐀.𝐏. 𝐌𝐨𝐥𝐥𝐞𝐫-𝐌𝐚𝐞𝐫𝐬𝐤 𝐆𝐫𝐨𝐮𝐩, 𝐂𝐌𝐀 𝐂𝐆𝐌 𝐒.𝐀, 𝐂𝐎𝐒𝐂𝐎 𝐒𝐡𝐢𝐩𝐩𝐢𝐧𝐠 𝐂𝐨., 𝐋𝐢𝐦𝐢𝐭𝐞𝐝, 𝐃𝐁 𝐒𝐜𝐡𝐞𝐧𝐤𝐞𝐫, 𝐃𝐇𝐋 𝐆𝐥𝐨𝐛𝐚𝐥 𝐅𝐨𝐫𝐰𝐚𝐫𝐝𝐢𝐧𝐠, 𝐄𝐯𝐞𝐫𝐠𝐫𝐞𝐞𝐧 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐂𝐨𝐫𝐩., 𝐇𝐚𝐩𝐚𝐠-𝐋𝐥𝐨𝐲𝐝 𝐀𝐆, 𝐌𝐒𝐂 𝐌𝐞𝐝𝐢𝐭𝐞𝐫𝐫𝐚𝐧𝐞𝐚𝐧 𝐒𝐡𝐢𝐩𝐩𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐒.𝐀, 𝐎𝐜𝐞𝐚𝐧 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 𝐄𝐱𝐩𝐫𝐞𝐬𝐬 𝐏𝐭𝐞. 𝐋𝐭𝐝., 𝐚𝐧𝐝 𝐘𝐚𝐧𝐠 𝐌𝐢𝐧𝐠 𝐆𝐫𝐨𝐮𝐩.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

𝐑𝐞𝐯𝐞𝐫𝐬𝐞 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.alliedmarketresearch.com/reverse-logistics-market

𝐄𝐧𝐞𝐫𝐠𝐲 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.alliedmarketresearch.com/energy-logistics-market-A07811

𝐆𝐫𝐞𝐞𝐧 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.alliedmarketresearch.com/green-logistics-market-A84427

𝐅𝐨𝐨𝐝 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.alliedmarketresearch.com/food-logistics-market-A15470

𝐑𝐚𝐢𝐥 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 : https://www.alliedmarketresearch.com/rail-logistics-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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