MUMBAI, India, June 05, 2018 (GLOBE NEWSWIRE) -- Ocean shipping market is expected to grow at a CAGR of around 5% from 2018 to 2026. Ocean shipping is considered as a crucial mode of transportation from the implementation of world trade and has also contributed massively to raise gross world product (GWP). Tankers, container ships, and bulk carriers are the utmost vital means of transportation. Every year they transfer billions of tonnes of goods and chattels along a few major trade routes. Revolution in global cargo shipping has got a major contribution of containerization, which brought a huge efficiency improvement. The foremost factor impacting the shipping owners is that despite economic crises, the maritime shipping industry shall continue to witness a boom.
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Market Dynamics
The growth in world trade and newly-industrializing emerging economies are major reasons that drive the growth of ocean shipping market massively. In addition, widespread open ship registries which allows ship vendors to compensate overpriced labors and evade high-cost regulations has also led to boost the market growth. However, accidents and mishaps while shipping causes huge material losses affecting the trade between multiple stakeholders involved. Shipping owners could undergo huge loss in case of inadequate safety measures and climatic disasters. However, technological advancement in communication and information technology and improvised cargo and logistics management is expected to create a positive impact on the market growth.
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Market Classification
The ocean shipping market is segmented into end-user, shipping type and geography. On the basis of end-user, the market is classified into export based manufacturing company, import based manufacturing company, government delegates and others. Based on shipping type, the market is segmented into full container load and less than container. Based on geography, market is divided into North America, Latin America, Europe, Asia-Pacific and Middle East & Africa (MEA).
Report Coverage
Market: Ocean Shipping Market
Analysis Period: 2015 – 2026
Historic Data: 2015 – 2016
Base Year: 2017
Forecast Data: 2018 – 2026
Market Stratification: End-User, Shipping Type, Geography
Regional Scope: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Report Coverage: Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis, Player Profiling, Value Chain Analysis
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Market Participants
The prominent market players operating in the expansion of ocean shipping are Maersk Line, Mediterranean Shipping Company, Hapag-Lloyd, ZIM Integrated Shipping Services, and CMA-CGM among others.
Market Segmentation
Market By End-User
- Export Based Manufacturing Company
- Import Based Manufacturing Company
- Government Delegates
- Others
Market By Shipping Type
- Full Container Load
- Less Than Container
Market By Geography
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA
Available Customizations:
With the given market data, Acumen Research and Consulting offers customizations according to the company's specific needs. The following customization options are available for the report:
Regional and country-level analysis of the Ocean Shipping Market, by end-use.
Detailed analysis and profiles of additional market players.
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