Latest News- Cargo Shipping Market: Dry cargo is expected to lead the Type segment during 2025-2029

The Cargo Shipping Market is being driven by Increasing global trade volume

The Cargo Shipping Market is expected to grow at a CAGR of 4.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 55.8 billion. The global cargo shipping market is undergoing a digital transformation to boost efficiency, reduce costs, and enhance operational excellence. IoT devices are being integrated into ships, containers, and cargo for real-time monitoring and tracking, providing unparalleled visibility throughout the supply chain. Blockchain technology is being utilized to establish secure, transparent, and tamper-proof records of transactions and documentation, ensuring supply chain integrity. Artificial intelligence (AI) is being employed for predictive maintenance and route optimization, enhancing operational productivity and reducing downtime. These technological advancements are revolutionizing the cargo shipping industry, enabling better decision-making and improved customer service. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Dry cargo
  • General cargo
  • Liquid cargo
• End-user
  • Manufacturing
  • Food and beverages
  • Oil and ores
  • Others
• Product Type
  • International shipping
  • Domestic shipping
• Product
  • Bulk shipments
  • Large shipments
  • Small shipments
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing global trade volume
• Rise in number of mergers and acquisitions among companies
• Rapid expansion of e-commerce surges cargo shipping demand

However, the market also witnesses some limitations, which are as follows:

• High operating costs of cargo shipping
• Increasing regulatory compliance with cargo shipping
• Geopolitical uncertainty and trade disputes hamper cargo shipping market

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Market Scope in Cargo Shipping Market Research Report

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Research Analysis Overview

The cargo shipping market encompasses various vessel types, including Dry Bulk Carriers, Gas Carriers, Cargo Vessels, Multipurpose Vessels, Refrigerated Containers, Flatrack Containers, Open Top Containers, and Tank Containers. ShippingLines Alliances optimize routes using Shipping Route Optimization and Container Terminal Automation, while Smart Containers, Blockchain in Shipping, and Green Shipping promote Fuel Efficiency, Emissions Reduction, and Shipping Sustainability. Shipping Security, Safety, Compliance, Risk Management, Insurance Coverage, Liability, Claims, Cargo Theft Prevention, Dispute Resolution, Legal Frameworks, Regulations Updates, and Industry Associations ensure safe, efficient, and compliant operations.

Market Research Overview

The global cargo shipping market encompasses the revenue generated by companies offering container shipping, bulk shipping, breakbulk shipping, reefer shipping, RoRo shipping, and less-than-container-load (LCL) services. According to Technavio, the size of the global cargo shipping market is determined by the revenues generated from these shipping sectors. This market extends to the monitoring of goods in transit and until their delivery. Key growth drivers for the global cargo shipping market include the surge in cross-border e-commerce activities, which entails consumers purchasing products from foreign sources.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/