Cargo Shipping Market
Cargo Shipping Market has valued US$11.1 Bn. in 2017 and is estimated to reach US$14.12 Bn. by 2026 at a CAGR of about 3.05%.
Trade liberalization and global economic growth increase the cargo shipping market. With economic growth and development, there is a direct rise in commodity consumption, which drives the cargo shipping market. Investments in port infrastructure and the global supply-command cycle will have a positive impact on the market. Developing trend of globalization and demographic changes are driving the growth of cargo shipping market. Supply chain management for marine trade has improved largely attributing to developing nations gaining a large market share in the cargo shipping. Acquiring new containers is cost intensive, which is manifesting as a major obstruct in the shipping industry and cargo shipping market. Environmental changes globally and geopolitics is a major restraint that could hinder the cargo shipping growth.