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“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 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.
The report analyzes 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.
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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 the 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 the 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 the near future due to various initiatives by the 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.
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Rising infrastructural development at the port terminals to accommodate the growing demand of cargo Shipping
The increasing investment in port infrastructure, global supply & demand cycle are also key driving factors for the cargo shipping industry. Expansion of trade passages such as the Panama Canal and Suez Canal increases waterways’ capacity and allow the passage of larger vessels is beneficial for cargo shipping. An increasing number of countries forging free trade agreements will boost the cargo shipping industry. Further, different free trade agreements such as NAFTA, AFTA, TPSEP, and others have helped countries significantly towards strengthening their economies. These agreements not only are responsible for the growth in trade between nations but also have a direct impact on the shipping industry. Also, the developing country in the past years is driving economic growth. The improved specialization in the supply chain for marine trade has gathered huge development as developing countries continue to gain greater market share in the cargo shipping business.
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