Global Freight Transportation Markets Over $ 150 Billion, Competition Forecast and Opportunities, 2026
DUBLIN, July 12, 2021 / PRNewswire / – The “Global Maritime Freight Transport Market, By Cargo Type (Bulk Cargo, Oil & Gas & Liquid Cargo, Container Cargo, General Cargo & Others), By Industry (Oil & Gas, Minerals, Manufacturing, Food & Others) , by region, Competition forecasts and opportunities, 2016-2026 “ report was added to ResearchAndMarkets.com offer.
The global maritime freight transport market amounted to 157.49 billion USD in value in 2020 and is expected to grow at a CAGR of 5.87% through 2026, due to increased imports and exports of liquid, dry, general and container goods in the Asia Pacific & Middle East countries like India and Brazil.
On the basis of cargo type, the market can be divided into Bulk Cargo, Oil & Gas and Liquid Cargo, Container Cargo, General Cargo, and others. Bulk freight accounted for a 41.12% share in 2020 and the segment is expected to maintain its dominance in the market over the forecast period, due to the rebound in economies after the opening of lockdowns by country.
In addition, rapid urbanization and industrialization are likely to propel the demand for bulk freight transport. The growing development of infrastructure, which requires a significant use of steel products and iron ore, is also the key factor driving the bulk cargo segment.
On the basis of industry, the market can be segmented into oil and gas, minerals, manufacturing, power, power and electronics, and others. The Oil and Gas segment accounts for the largest market share due to crude oil, refined petroleum products and gas, which continued to grow amid oversupply in the oil market and low oil prices.
The total maritime trade volume of tankers reached 3.1 billion tonnes in 2019, indicating a continuous increase over previous years. Imports of petroleum continued at a steady pace in order to increase inventories of crude oil and refined petroleum products. These positive trends were supported by strong demand for crude oil imports in China, India and United States and large quantities of petroleum products exported from India and China
Asia Pacific is estimated to be the largest market due to increased infrastructure development activities and increasing urbanization and industrialization in the region. In addition, increased investment in manufacturing and commercial industry in the region is expected to positively influence the market.
China holds the largest market share followed by South Korea and Japan, however, the market of India is expected to grow at the highest CAGR in the region.
- Company Profiles: Detailed analysis of the major companies present in the global maritime freight transport market.
- Voice of the Customer: Brand awareness, brand satisfaction, price and availability are the major factors affecting the decision to ship freight for various users, around the world.
Some of the major players in the global freight transportation market include
- AP Moller-Maersk Group
- Compagnie maritime de la Méditerranée SA
- COSCO Shipping International (Hong Kong) Co., Ltd.
- CMA CGM SA
- Hapag-Lloyd AG
- Ocean Network Express Pte. Ltd.
- Evergreen shipping company
- HMM Company Limited
- Yang Ming Shipping Company
- Zim Integrated Shipping Services Ltd.
Years considered for this report:
- Historical years: 2016-2019
- Baseline year: 2020
- Estimated year: 2021
- Forecast period: 2022-2026
Key target audience:
- Global Freight Forwarding Providers
- Global Freight Forwarding Providers
- Research organizations and consulting firms
- Organizations, associations and alliances linked to freight transport providers
- Government agencies such as regulators and policy makers
- Industry associations
- Market studies and consulting firms
Scope of the report:
Global Ocean Freight Transport Market, By Freight Type:
- Bulk goods
- Oil and gas and liquid cargo
- Freight container
- General goods
Global Sea Freight Transport Market, By Sector:
- Oil and gas
- Electricity and electronics
Global Ocean Freight Transport Market, By Region:
- Asia Pacific
- South Korea
- North America
- United States
- South America
- Middle East & Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
For more information on this report, visit https://www.researchandmarkets.com/r/i3omko
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SOURCE Research and Markets