The key factors driving the growth in global shipping cargo trade are global economic growth and rise in the commodity demand. After years of sluggish growth, from 2018 the cargo shipping market is estimated to gain momentum. Cargo shipping market is projected to be worth12.52 Billion Tons by 2021, growing at a CAGR of 3.5% from 2016.The study segments the cargo shipping trends based on cargo type, industry type, and major trade routes.
Northbrook, IL -- (SBWIRE) -- 02/14/2018 -- The report "Cargo Shipping Market by Cargo Type (Liquid, Dry, General, Container), Industry Type (Food, Electrical/Electronics, Mineral Fuels & Oils, Manufacturing), Trade Routes, Infrastructure, Regulations, and by Freight Forwarding - Global Trends and Forecast to 2021"
The cargo shipping market is estimated to gain momentum after the fiscal year 2018 after years of sluggish growth. Cargo shipping market is projected to reach 12.52 Billion Tons at CAGR of 3.5% from 2016 to 2021.
Global economic development, commodity supply, and demand are key drivers fueling the growth of the global cargo shipping trade.
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Browse 57 market data Tables and 29 Figures spread through 118 Pages and in-depth TOC on "Cargo Shipping Market by Cargo Type (Liquid, Dry, General, Container), Industry Type (Food, Electrical/Electronics, Mineral Fuels & Oils, Manufacturing), Trade Routes, Infrastructure, Regulations, and by Freight Forwarding - Global Trends and Forecast to 2021"
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Container Transport: A promising market
The growth in container transport will have the highest growth in cargo shipping trade compared to other types of cargos. Demographic changes and the increased globalization drives the growth for container transport. Additionally, the investments in port infrastructure, global supply & demand cycle will have a positive impact on container transport. Asia-Pacific region dominates the container transport followed by Europe and North America in 2016.
Asia-Pacific: Largest market for cargo shipping trade
Asia-Pacific accounted for the largest share of the global cargo shipping trade in 2016. Developing Asian economies are driving growth in Asia-Pacific region. China is a major exporter in Asia-Pacific as it is developed as a manufacturing hub. Market demand, developments in port infrastructure and strong government support have enabled Asia-Pacific to achieve largest market share.
The European region has been segmented into Germany, France, the U.K., Spain, and Russia. Europe is estimated to account for the second-largest share in the global cargo shipping trade in 2016. The EU countries are expected to show steady growth in near future due to various initiatives by European Union and rising global demand.
North America is estimated to have the third-largest market share in cargo shipping trade, by volume, in 2016. The North American cargo shipping market is projected to grow at a promising CAGR during the forecast period. Growth in global economies will be a major factor for cargo shipping trade growth as Canada and Mexico are export-oriented economies.
The report analyses all major players in the shipping industry, including A.P. Møller – Mærsk A/S (Denmark), Mediterranean Shipping Company SA (Switzerland), CMA CGM SA (France) And Hapag-Lloyd Ag (Germany), along with major freight forwarding players.
It covers the global cargo shipping market, in terms of volume (million tons) and value (USD billion). It explains the qualitative and quantitative aspects of the market on the basis of region, cargo type, industry type and trade route from 2016 to 2021. It also provides an overview of other important aspects of the global cargo shipping market.
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