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The Maritime Logistics and Services Market Size was valued at USD 83.11 billion in 2023 and is expected to reach USD 152.6 billion by 2032, growing at a CAGR of 7.9% from 2024-2032.
The Global Shipping Industry is the economic and cultural backbone of the world. The exchange of goods and services will be impossible without quick and dependable shipping services. Many other kinds of items would not have been available. Maritime transport logistics enables firms to keep their commodities moving smoothly and without delay across all locations. Maritime logistics is described as the delivery of products from one location to another using cargo ships. The tremendous expansion of global trade in recent decades has increased the Global Maritime Logistics and Services Market. Global Maritime Logistics and Services have benefited from new advancements and deregulation.
The mechanism of global trade and container transportation has undergone significant transformation. And these changes have raised demand for logistics services and other modes of transportation.
MARKET DYNAMICS
KEY DRIVERS
Increase in the number of free trade agreements signed between various countries
Improving Economic Conditions in Several Countries, Combined With Increased Export and Import
RESTRAINTS
Implementation of the International Maritime Organization's Sulfur 2020 Regulation
OPPORTUNITY
Consolidation of the Container Shipping Industry, as well as Digitalization and Automation
Rapid Growth of New Ports in Developing Countries
CHALLENGES
The Global Maritime Logistics and Services Market may face challenges due to guidelines and the availability of other shipping mediums.
IMPACT OF COVID-19
Businesses all throughout the world suffered as a result of the COVID-19 Pandemic. Almost every country has been infected with the virus. Lockdown is being imposed across the countries. The global economy is suffering as a result of the lockdown and social distancing norms. The COVID-19 also had an adverse effect on the maritime industry. Shipping of goods and services was halted due to travel restrictions, affecting the Global Maritime Logistics and Services Market. To deal with the interruptions caused by the Covid-19 issue, the leading actors in the Global Maritime Logistics and Services Industry modified their finance, operations, safety regulations, and working methods.
The countries' governments made precautions to keep trade flowing while keeping people secure. Various industries were forced to suspend output due to the lockout. As a result, the shipping market was severely impacted, but the Global Maritime Logistics and Services Industry will experience favourable growth following the post-covid-19 situation.
The Global Maritime Logistics and Services Market is divided into two types: general cargo and bulk cargo. General freight is further classified as break bulk, neo bulk, and containerized cargo. The general cargo was responsible for the biggest Maritime Logistics and Services Market Share in 2021. General cargo is intended to transport meals, machines, chemicals, clothing, and other items. Bulk cargo is further classified as liquid bulk or dry bulk. Because it transports enormous amounts of items, the bulk category will have the largest CAGR during the projection period.
Port handling, route surveys, lifting equipment management, packing, and crafting are the service segments of the Global Maritime Logistics and Services market. Among them, the port sector held the largest share of the Global Maritime Logistics and Services Market in 2021 and is predicted to increase rapidly during the forecast period.
The maritime operator now provides effective and high-quality logistics services as well as better transportation. The traditional port environment is evolving due to technological, demographic, and sustainability drivers that impact day-to-day company operations. Many opportunities are predicted in the worldwide shipping business. Because it is an important trading route for various nations, China has a robust Global Maritime Logistics and Services Market. Because of factors such as low cost, secure transportation, and vast space, the maritime shipping industry accounts for around 90% of global trade.
The Global Maritime Logistics and Services Market is divided into four regions: North America, Europe, Asia Pacific, and the rest of the world.
By Operation
Manned
Remotely Operated
Autonomous
By Type
Fully Electric
Hybrid
By Ship Type
Commercial
Defense
By System
Power Conversion
Power Distribution Systems
REGIONAL ANALYSIS
North America, Europe, Asia Pacific, and the rest of the world are the major regions in the Global Maritime Logistics and Services Market. The Asia Pacific region had the largest Maritime Logistics and Services Market Share in 2021, and it is expected to continue to dominate the market during the projected period. Major countries such as India and China are making significant contributions to the Global Maritime Logistics and Services Market. North America exhibits a consistent CAGR over the projection period, and the tension between China and the United States will have an impact on market growth in this region. Despite the European countries' economic crises, Europe is predicted to develop in the Global Maritime Logistics and Services Market.
This is because important essential players are present in this region. Due to increased seaborne economic activity, the remainder of the world will experience positive growth during the projection period.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major Players are Mediterranean Shipping Company SA, Ocean Network Express Pte. Ltd, Pacific International Lines, Hyundai Merchant Marine, Hapag-Lloyd AG, China Ocean Shipping Company Limited, CMA CGM SA, Evergreen Line, YangMing Marine Transport Corp., P. Moller-Maersk A/S and Other Players
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | USD 183.11 Billion |
| Market Size by 2032 | USD 152.6 Billion |
| CAGR | CAGR of 7.9% From 2023 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Operation (Manned, Remotely Operated and Autonomous) • By Type (Fully Electric and Hybrid) • By Ship Type (Commercial and Defense) • By System (Energy Storage Systems, Power Generation, Power Conversion and Power Distribution Systems) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Mediterranean Shipping Company SA, Ocean Network Express Pte. Ltd, Pacific International Lines, Hyundai Merchant Marine, Hapag-Lloyd AG, China Ocean Shipping Company Limited, CMA CGM SA, Evergreen Line, YangMing Marine Transport Corp., P. Moller-Maersk A/S. |
| DRIVERS | • Increase in the number of free trade agreements signed between various countries • Improving Economic Conditions in Several Countries, Combined With Increased Export and Import |
| RESTRAINTS | • Implementation of the International Maritime Organization's Sulfur 2020 Regulation |
The expected CAGR of the Maritime Logistics and Services Market is 7.9% during the forecast period of 2023-2030.
The Covid-19 pandemic affected the Maritime Logistics and Services Market negatively. The detailed analysis is included in the final report.
The leading Maritime Logistics and Services Market players include Mediterranean Shipping Company SA, Ocean Network Express Pte. Ltd, Pacific International Lines, Hyundai Merchant Marine, Hapag-Lloyd AG, China Ocean Shipping Company Limited, CMA CGM SA, Evergreen Line, and YangMing Marine Transport Corp.
Asia-Pacific region dominated the Maritime Logistics and Services Market.
The Maritime Logistics and Services Market is segmented into 4 types: By Type, By Ship Type, By System, and By Operation.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Maritime Logistics and Services Market Segmentation, by Operation
8.1 Manned
8.2 Remotely Operated
8.3 Autonomous
9. Maritime Logistics and Services Market Segmentation, by Type
9.1 Fully Electric
9.2 Hybrid
10. Maritime Logistics and Services Market Segmentation, by Ship Type
10.1 Commercial
10.2 Defense
11. Maritime Logistics and Services Market Segmentation, by System
11.2 Energy Storage Systems
11.3 Power Generation
11.4 Power Conversion
11.5 Power Distribution Systems
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Mediterranean Shipping Company SA
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Ocean Network Express Pte. Ltd
13.3 Pacific International Lines
13.4 Hyundai Merchant Marine
13.5 Hapag-Lloyd AG
13.6 China Ocean Shipping Company Limited
13.7 CMA CGM SA
13.8 Evergreen Line
13.9 YangMing Marine Transport Corp.
13.10 P. Moller-Maersk A/S
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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