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 tones 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.

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.

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 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