Cargo Shipping Market Size, Share & Industry Analysis, By Cargo Type (Dry Cargo Container, Bulk, General, Hazardous, Petroleum), By End-Use Industry Type (Food,Manufacturing, Oil and Ores, Electrical and Electronics) Others and Regional Forecast, 2021-2028

Cargo shipping plays a vital role in the transfer of material between the buyer and seller. The world’s 90% of trade is carried via the sea. Cargo shipping has evolved over the years, but the basics of business remain the same. Containers of various sizes and types are used to transport objects from one place to another. These are designed to do specialized tasks and are often loaded with cranes and some other mechanisms that are used to load and unload the container. Cargos transported by ships are of various types such as dry cargo container, bulk, general, hazardous, and petroleum. The Dry cargo container is majorly used to transport goods worldwide as it is rigid, weatherproof, and has tough sidewalls and floor. It mainly carries dry products like drums, cartons, boxes, pallets, cases, etc. along with goods it can transport vehicles across the globe. Bulk cargos mainly carry dry products, iron ore, coal, grain, and other minerals. They usually have 2-3 loading hatches in the roof of the container, and two unloading hatches are equipped in the doorways to empty the container. General cargos are often loaded individually and not with intermodal containers. Ships that carry these kinds of cargo are termed as general cargo.

Key Market Driver -

Rising global seaborne trade at the global level is expected to drive the market.

Key Market Restraint -

High duration of cargo transport is expected to restraint the growth of the market.

Hazardous cargo is the most important cargos in the shipping industry, as they carry hazardous substances like nuclear waste, chemicals, explosives, liquefied gases, and petroleum. These cargos are marked with danger signs and described with specific documentation. Hazardous cargo is loaded and unloaded with a special loading-unloading arrangement. The direct rise in commodity consumption owing to economic growth and development, increasing trend of globalization, and demographic changes are expected to drive the cargo shipping market. Supply chain management for marine trade has improved largely, attributing to developing nations gaining a significant market share in the cargo shipping. Increasing environmental changes globally are expected to hamper the growth of cargo shipping.

Key Players Covered in the Automotive Cargo Shipping Market:

Some of the major companies that are present in the automotive cargo shipping market include CMA-CGM SA, Mediterranean Shipping Company S.A., DHL Global Forwarding, Nippon Express Co., Ltd., Ceva Logistics, A.P. Moller-Maersk Group, Panalpina World Transport (Holding) Ltd., China COSCO Holdings Company Limited, Deutsche Bahn AG, and Hapag-Lloyd AG among the other players.

The global automotive cargo shipping market has been segmented into cargo type, end-user type, and region. By cargo type, the global market is segmented into the dry cargo container, bulk, general and hazardous and petroleum. The dry cargo container segment is expected to dominate the market during the forecast period. Dry cargo is also called as special containers. Dry cargo container carries dry goods that have a high tolerance to heat and cold. Dry cargo container ships are ocean vessels that carry goods in large containers. The petroleum cargo segment is anticipated to show good growth over the forecast period owing to the rising demand for crude oil worldwide. These cargoes are constructed to carry petroleum products worldwide. The petroleum carrier mostly operates close to refineries and petroleum storage area and have the capacity to carry a large number of petroleum products.

Regional Analysis:

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Geographically, the global automotive cargo shipping market is segmented into North America, Europe, Asia Pacific, and the rest of the world. Asia Pacific is projected to hold the largest market share and is expected to dominate the market during the forecast period. China and India are major manufacturing hubs in this region. Factors that contribute to the growth of the market in Asia Pacific Region are government support and increased market demand. China is anticipated to maintain its dominance in this region because china is biggest exporter of goods. Europe is expected to have a second-largest share in the market owing to rising initiatives by the European Union and the increasing global demand. Netherland, the U.K, Sweden, Germany, Italy are primary markets in the European region.

Segmentation