The global maritime freight transport market is growing due to several factors, including increasing international trade volumes, expansion of the global economy, advancements in shipping technologies, and growing demand for efficient and cost-effective transportation solutions.
WILMINGTON, Del., Sept. 9, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Maritime Freight Transport Market by Cargo Type (Dry Bulk, Liquid Bulk, Containerized Goods and General Cargo), by Vessel Type (Container Ships, Bulk Carriers, Tankers, Ro-Ro, Vessels, LNG/LPG Carriers, Offshore Support Vessels and Cruise Ships), Industry Type (Food and Beverage, Manufacturing, Oil and Ores and Electrical and Electronics): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the maritime freight transport market was valued at $371.9 billion in 2023, and is estimated to reach $552.1 billion by 2033, growing at a CAGR of 4.3% from 2024 to 2033.
Prime Determinants of Growth
As international trade continues to expand, driven by globalization and economic growth, there is a growing demand for maritime freight transport services to move goods across borders efficiently and cost-effectively. Economic growth in emerging markets, particularly in Asia-Pacific, has led to increased production and consumption, driving demand for raw materials, commodities, and finished goods. Maritime transport is essential for connecting producers and consumers across different regions. Maritime freight transport is often more cost-effective than other modes of transportation, especially for long-distance shipments and bulk cargo. Advances in shipping technologies, such as larger vessels, improved fuel efficiency, and streamlined logistics, have enhanced the cost-effectiveness and efficiency of maritime transport.
Request Sample of the Report on Capecitabine Market Forecast 2033: https://www.alliedmarketresearch.com/request-sample/A241419
Report Coverage & Details:
By Cargo Type
The containerized goods segment is expected to grow faster throughout the forecast period.
The containerized goods segment is anticipated to experience faster growth in the maritime freight transport market as containerization offers a high level of efficiency and standardization in the shipping process. Containers come in standardized sizes, allowing for easy handling, stacking, and transportation across various modes such as ships, trucks, and trains. This standardization reduces loading and unloading times, minimizes labor costs, and streamlines logistics operations.
Procure Complete Report (455 Pages PDF with In-depth Insights, Charts, Tables, and Figures): https://www.alliedmarketresearch.com/checkout-final/maritime-freight-transport-market-A241419
By Vessel Type
The container ships segment is expected to grow faster throughout the forecast period.
The container ships segment is anticipated to experience growth in the maritime freight transport market, due to fact that many ports around the world have invested in infrastructure upgrades to accommodate larger container ships. These investments enable more efficient loading and unloading processes, reduce congestion, and improve turnaround times for vessels. As port infrastructure continues to improve, container ships become an even more attractive option for shippers seeking reliable and efficient transportation solutions.
By Industry Type
The manufacturing industry segment is expected to grow faster throughout the forecast period.
The manufacturing industry segment is anticipated to experience growth in the maritime freight transport market, due to fact that many manufacturing industries, such as automotive and electronics, have adopted just-in-time (JIT) manufacturing practices to minimize inventory holding costs and improve efficiency. Maritime freight transport plays a crucial role in JIT manufacturing by ensuring timely delivery of raw materials and components to production facilities, enabling manufacturers to operate with leaner inventories and respond quickly to changes in demand.
By Region
North America to maintain its dominance by 2032.
North America is expected to maintain its dominance in the maritime freight transport market by 2032 as North America occupies a geographically strategic position between major global trading partners, including Europe and Asia. Its extensive coastline and proximity to key shipping routes, such as the Panama Canal and the Suez Canal, make it an essential hub for international maritime trade. Ports along the East Coast, West Coast, and Gulf Coast of North America serve as crucial gateways for goods entering and exiting the continent.
Players
- AP Moller (Maersk)
- CMA-CGM
- COSCO Shipping
- Evergreen Line
- Hapag-Lloyd
- HMM Co.
- Hanjin Shipping Co., Ltd.'
- Mediterranean Shipping Company S.A. (MSC)
- ONE - Ocean Network Express
- ZIM Integrated Shipping Services Ltd.
The report provides a detailed analysis of these key players in the global maritime freight transports market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Make an Inquiry for Further Details of Report: https://www.alliedmarketresearch.com/purchase-enquiry/A241419
Recent Industry News
- In November 2023, Maersk, a Danish shipping giant, partnered with IBM to develop and implement a new digital platform for managing maritime logistics. This partnership aims to enhance efficiency and transparency throughout the global supply chain by leveraging blockchain technology, which underpins the platform.
- In June 2023, the world's largest container shipping company, Maersk, announced that it will invest $1 billion in sustainable shipping solutions. This includes the development of new ships that run on alternative fuels, such as methanol and ammonia.
- In September 2023, Hapag-Lloyd, a major German shipping company, and CMA CGM, a leading French container transportation and shipping company, signed a memorandum of understanding (MoU) to collaborate on various operational matters. The partnership aims to streamline port operations by coordinating schedules and consolidating operations where possible. This can lead to better utilization of port facilities, reduced congestion, and faster turnaround times for vessels. Optimized port operations contribute to lower operational costs and enhanced service levels.
- In June 2023, Japanese shipping company Ocean Network Express (ONE) and Israeli shipping company ZIM have agreed to cooperate on container sharing and slot exchange agreements. The partnership enhances the global network coverage for both ONE and ZIM. By combining their routes and services, they can offer customers access to a wider range of destinations and more direct connections. This expanded network improves service reliability and reduces transit times for shipments.
Explore More Trending Report
Portable EV Charger Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, By Application: Global Opportunity Analysis and Industry Forecast, 2025-2035 https://www.alliedmarketresearch.com/portable-ev-charger-market-A47223
In Car Audio System Market Size, Share, Competitive Landscape and Trend Analysis Report, by Component, By Manufacturer, By Vehicle Type, By Sales Channel: Global Opportunity Analysis and Industry Forecast, 2022-2032 https://www.alliedmarketresearch.com/in-car-audio-system-market-A74460
Smart Parking Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, by Technology, by Application, by End User: Global Opportunity Analysis and Industry Forecast, 2023-2032https://www.alliedmarketresearch.com/smart-parking-market
AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) Offered by Allied Market Research:
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
USA/Canada (Toll Free):
+1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
AMR Resource Center: https://www.alliedmarketresearch.com/resource-center
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/maritime-freight-transport-market-to-reach-552-1-billion-globally-by-2033-at-4-3-cagr-allied-market-research-302241683.html
