Press release
A Deep Dive into Shipbroking Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034
Shipbroking Market
The growing demand for cargo logistics is expected to drive the growth of the shipbroking market in the future. Cargo logistics involves the efficient coordination of goods movement and storage from origin to destination. This demand is increasing due to globalization and expanding international trade, which require effective and reliable transportation solutions. Shipbroking facilitates cargo logistics by arranging sea transport, matching cargoes with vessels, and managing contracts and freight rates for smooth operations. For instance, according to the United States Department of Transportation in June 2024, domestic U.S. waterborne transportation in 2023 was 644 million tons, with projections to reach 1,238 million tons by 2050. Thus, the increasing demand for cargo logistics will drive the shipbroking market's growth.
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What is the projected compound annual growth rate (CAGR) of the shipbroking market from 2025 to 2034, and what factors influence it?
The shipbroking market has grown strongly in recent years. It is forecast to rise from $1.39 billion in 2024 to $1.46 billion in 2025, at a CAGR of 5.2%. This growth is attributed to the increase in maritime accidents, expanding trade routes, greater demand for shipping services, improved connectivity of modern ships, and the rising production of wheat.
The shipbroking market is projected to grow to $1.77 billion by 2029, with a CAGR of 4.9%. The growth is attributed to geopolitical events, environmental regulations, the rising demand for cargo logistics, the increasing number of ship owners, and the growing need for maritime transportation services. Trends include digital transformation, automation, the development of blockchain-based platforms, and infrastructure improvements at seaports.
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How are the latest trends influencing the growth of the shipbroking market?
Companies in the shipbroking market are streamlining vessel transactions with digital solutions like vessel auction platforms. For instance, in September 2023, GMS Inc. launched the Ship Recycling Portal, an online platform for bidding on end-of-life vessels. The portal provides real-time auctions and transparent processes, improving efficiency and allowing buyers to make informed decisions without needing in-person negotiations.
What are the major segments of the shipbroking market and their role in driving growth?
The shipbroking market covered in this report is segmented -
1) By Type: Container Vessels, Tankers, Dry Bulk, Valuations, Recycling
2) By Application: Bulker, Tanker, Other Applications
3) By End Use: Oil And Gas, Manufacturing, Aerospace And Defense, Government, Other End Users
Subsegments:
1) By Container Vessels: New Container Vessel Brokerage, Secondhand Container Vessel Brokerage, Time Charter And Voyage Charter Brokerage
2) By Tankers: Crude Oil Tanker Brokerage, Product Tanker Brokerage, Chemical Tanker Brokerage, LPG Or LNG Tanker Brokerage
3) By Dry Bulk: Capesize Dry Bulk Brokerage, Panamax Dry Bulk Brokerage, Handymax Or Handysize Dry Bulk Brokerage
4) By Valuations: Vessel Appraisal, Investment And Risk Assessment, Condition And Inspection Valuations
5) By Recycling: Ship Demolition Brokerage, Scrapping And Recycling Services, End-Of-Life Ship Brokerage
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Which regions are key players in the growth of the shipbroking market?
North America was the largest region in the shipbroking market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shipbroking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the shipbroking market?
Major companies operating in the shipbroking market are Maersk Broker K/S, Clarkson Plc, Barry Rogliano Salles International S.A., Simpson Spence Young Ltd, Howe Robinson Partners Pte Ltd, Poten and Partners Inc, SPI Marine Ltd, E.A. Gibson Shipbrokers Ltd, Galbraiths Ltd, ShipServ Ltd, Lorentzen and Stemoco AS, McQuilling Partners Inc, Maritime London Ltd, Braemar Shipping Services Plc, Agora Shipbroking Corporation, Anchor Shipbroking Inc, Bright Cook & Co Limited, Endole Ltd, Charles R. Weber Company Inc, Compass Maritime Services LLC, Fearnley Securities, Interocean Group, Seacore Shipbrokers Ltd, Shiplinks, Velian Ship Brokers
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What Is Covered In The Shipbroking Global Market Report?
•Market Size Forecast: Examine the shipbroking market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the shipbroking market for a structured understanding.
•Key Players Overview: Analyze major players in the shipbroking market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the shipbroking market.
•Segment Contributions: Evaluate how different segments drive overall growth in the shipbroking market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the shipbroking market.
•Industry Challenges: Identify potential risks and obstacles affecting the shipbroking market.
•Competitive Landscape: Review strategic developments in the shipbroking market, including expansions, agreements, and new product launches.
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