Cargo Shipping Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2026-2035)

Cargo Shipping Market Overview

The cargo shipping market value is poised for continued growth, driven by the expansion of world trade. WTO economists forecast steady merchandise trade volume growth in 2025 and 2026, aligning with global GDP growth, while commercial services trade is expected to increase even faster. In 2024, world merchandise exports grew by 2%, reaching USD 24.43 trillion, with China and the United States leading as the largest exporters and importers. Additionally, the value of world commercial services exports rose 9%, to USD 8.69 trillion. This growth in global trade, coupled with rising commercial services, is set to further boost the demand of the cargo shipping market in the future.

Cargo Shipping Market Growth

The cargo shipping industry outlook is shaped by robust commodity demand, supply chain recovery, and various global challenges. These include regulatory changes, fuel price fluctuations, and geopolitical tensions, all affecting capacity and freight efficiency, and expanding cargo shipping market growth. In 2023, global maritime trade grew by 2.4%, reaching 12.3 billion tons, which is projected to reach the annual growth of 2.4% by 2029. The sector is focused on managing risks, optimising supply chains, and addressing increasing demand, while also navigating geopolitical tensions and climate-related disruptions. These factors are shaping the industry’s future, highlighting the need for innovation and resilience in the face of ongoing and emerging global trade challenges.

Key Trends and Recent Developments

Cargo Shipping Market Trends

The market is growing due to the rise of sustainable logistics and environmentally friendly shipping technologies. The use of green solutions, such as cleaner fuels and energy-efficient vessels, not only lowers environmental impact but also appeals to eco-conscious consumers and investors, further driving cargo shipping market expansion. The launch of Stream Shipping, a new inland shipping company in July 2024 by Amer Shipping and MSG eG, is a key development in this trend. Based in the Netherlands, Stream Shipping will operate vessels designed to reduce CO2 emissions, with new hull designs, propulsion systems, and alternative fuel considerations. This initiative enhances the market’s shift towards more efficient and environmentally responsible shipping practices. By aligning with trends like digitalisation and sustainability, Stream Shipping will contribute to growing market share in Europe’s inland cargo shipping sector.

Cargo Shipping Market Opportunities

The growth of the cargo shipping market presents significant opportunities, driven by increasing demand in key sectors like retail, textiles, and global trade. The need for faster, more efficient shipping services is growing, particularly in emerging markets. In this context, Maersk’s launch of the SH3 ocean service in July 2024 between China and Bangladesh offers a vital solution. This new service expands capacity and flexibility, offering multiple cargo loading options, and enhances supply chain efficiency. It benefits textile raw material exporters in China and garment manufacturers in Bangladesh, supporting the rapidly growing Ready-made Garment (RMG) industry and driving overall growth of the cargo shipping market.

Cargo Shipping Market Restraints

• Fluctuating fuel prices are inflating operational expenses, squeezing profit margins. Additionally, strict environmental regulations, such as IMO emission standards, demand costly investments in greener vessels and technologies, placing financial strain on shipping companies and limiting short-term profitability.
• Port congestion, inadequate infrastructure, labour shortages, and strikes delay shipments and reduce overall efficiency. Geopolitical tensions, including trade wars and regional conflicts, further disrupt global shipping routes, creating uncertainty and logistical challenges for cargo movement across international markets.

Cargo Shipping Industry Segmentation

Cargo Shipping Market Share

Market Analysis by Cargo Type

According to cargo shipping market analysis, the market is led by liquid cargo, due to increasing demand for raw materials and energy. Oil and chemicals remain crucial for the global energy supply. In November 2022, FESCO launched the FESCO Flexi service for bulk liquids in flexitank liners, enabling shipments by rail, sea, and intermodal methods to regions like East Asia, Turkey, and South America.

Dry cargo offers significant benefits in the cargo shipping market, including the transport of bulk commodities like coal, iron ore, and grains. It supports global trade, ensures efficient supply chain operations, and contributes to economic growth by meeting raw material demands. In 2024, global dry bulk flows are projected to reach 5.60 billion metric tons, up from 5.38 billion metric tons in 2023, reflecting strong demand for commodities like coal, iron ore, and grains.

Alongside this, the container and general cargo segment is expanding, with rising trade volumes and supply chain needs. Container cargo facilitates efficient, large-scale transportation of goods across global trade routes. With the rising demand for consumer goods and industrial products, containerised shipping provides unmatched flexibility, speed, and reliability, driving improvements in port activities, shipping services, and overall supply chain efficiency.

Market Analysis by Ship Type

As per the cargo shipping market report, the market is led by general cargo ships as they offer versatility by transporting various goods, including packaged items, machinery, and vehicles. They support global trade by efficiently moving different types of cargo, improving supply chain flexibility and meeting diverse shipping needs. In December 2024, Udupi Shipyard Ltd. launched the first of six 3,800 DWT cargo vessels for Wilson ASA, Norway. The eco-friendly vessel supports fuel efficiency, showcasing Udupi Shipyard's contribution to India's 'Make in India' initiatives.

Bulk carriers specialise in transporting large quantities of unpackaged bulk goods, such as coal, iron ore, and grain, boosting the growth of the cargo shipping market. They offer cost-effective shipping for high-volume materials, facilitating the global trade of essential raw materials for industries worldwide. According to UNCTAD 2023, the global fleet grew by 3.4%, reaching a total capacity of 2.4 billion tons.

Container ships are boosting the market by enabling the efficient, large-scale transport of goods across international routes. Their capacity to carry diverse cargo types in standardized containers enhances flexibility, accelerates trade, reduces costs, and strengthens global supply chains, driving significant market growth and expansion.

Market Analysis by End Use

The oil and gas sector is vital to the cargo shipping market, enabling large-scale transport of crude oil, LNG, and refined products. It supports global energy supply chains and ensures efficient delivery to meet industrial and consumer energy demands. In February 2025, Turkey launched the Neoliner Origin, the world’s longest wind-powered cargo ship. Built to cut emissions by up to 80%, it marked a major step towards sustainable maritime transport, combining wind propulsion with auxiliary engines for efficiency.

Pharmaceutical shipping ensures the timely and safe transport of temperature-sensitive and high-value medical products, impacting the cargo shipping market revenue. Specialised cargo services maintain product integrity, support global healthcare supply chains, and meet growing demand for medicines, vaccines, and healthcare goods across international markets. In the pharmaceuticals segment, IAG Cargo reported a 22% increase in shipments in 2024, with India and Ireland leading the growth. India’s pharmaceutical exports grew from USD 2.13 billion to USD 2.31 billion, while Ireland’s medical exports surged by 48%. To meet this demand, IAG Cargo expanded its Constant Climate network with new hubs in Cincinnati, Cape Town, and Strasbourg

As global consumption rises, the demand for timely and safe delivery of food products, including refrigerated containers, boosts shipping volumes, enhances logistics efficiency, and supports supply chain growth in the cargo shipping market, driving the food and beverage sector's need for efficient transportation of perishable goods.

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Cargo Shipping Market Regional Analysis

North America Cargo Shipping Market Opportunities

The cargo shipping industry in North America is driven by several factors, including increasing trade volumes, front-loading of imports ahead of potential tariffs, and efforts to replenish inventories. These drivers have led to significant growth in the market. In Q4 2024, top seaports reported a 10% year-over-year increase in cargo volume, with a 13% rise for the full year. The ports of Los Angeles and Long Beach played a pivotal role, with a 23% year-over-year increase in container volume in Q4 2024. This surge was driven by strong trans-Pacific trade, inventory restocking, and improved supply chain efficiencies, reinforcing the overall growth of the cargo shipping market in North America.

Europe Cargo Shipping Market Trends

The Europe cargo shipping market is experiencing growth driven by rising trade volumes and increased vessel activity at key ports. In 2023, 2.2 million vessels entered the main EU ports, reflecting a 1.5% year-over-year increase. Greece recorded the highest number of vessel port calls at 477,115, followed by Italy with 449,131 and Denmark with 322,230. Other significant contributors included Croatia, Spain, and Germany, with 282,404, 177,667, and 115,531 port calls, respectively. The average size of vessels calling at these ports was estimated at 8,058 gross tonnage. This rise in vessel activity enhances the cargo shipping industry by improving port throughput, boosting supply chain efficiency, and strengthening the overall logistics infrastructure, facilitating smoother trade flows throughout Europe

Asia Pacific Cargo Shipping Market Drivers

The cargo shipping market in the Asia-Pacific is driven by the need for improved regional connectivity, rising trade volumes, and sustainable shipping practices. Arkas Line’s India Med Service (IMS) launched in February 2025, enhancing this market by connecting key Indian ports, including Mundra and Nhava Sheva, with the Mediterranean and Red Sea regions. Initially operating with four vessels, the service will expand to five by June 2025, providing weekly sailings. This boosts transit times and connectivity for Indian firms. Additionally, Arkas Line offers integrated logistics solutions and invests USD 240 million in fleet expansion, further strengthening the region's shipping infrastructure.

Latin America Cargo Shipping Market Analysis

The cargo shipping market development in Latin America is being significantly boosted by new shipping routes connecting Asia to Mexico. In May 2024, global carriers such as MSC, CMA CGM, and Cosco launched direct services to Mexico’s key ports, including Manzanillo, driven by increased container volumes and rising Chinese investments. Cosco’s TLP5 and CMA CGM's M2X – Mexico Express offer efficient connections with 15–20-day transit times. MSC’s loop shuttle service adds further frequency. The demand surge is fueled by nearshoring and geopolitical tensions, with Chinese investments in Mexico growing 11% in 2023, accelerating Cargo Shipping market growth across Latin America.

Middle East and Africa Cargo Shipping Market Factors

The cargo shipping demand growth in the Middle East and Africa is driven by increasing trade volumes, improved infrastructure, and the demand for efficient logistics solutions. The launch of JAS Middle East’s new regional headquarters at Dubai South in April 2025 significantly supports this growth. The 19,170-square-meter facility, featuring advanced storage, temperature-controlled chambers, and ESG-compliant infrastructure, enhances regional logistics capabilities. With direct access to Jebel Ali Port and Al Maktoum International Airport, this expansion improves supply chain efficiency, solidifying Dubai South’s role as a leading logistics hub and boosting cargo shipping activity, which drives further economic growth in the region.

Competitive Landscape

Other key players in the cargo shipping market report include DHL Global Forwarding, China COSCO Holdings Company Limited, Nippon Express Co., Ltd, Hapag-Lloyd AG, Ceva Logistics, and Deutsche Bahn AG, among others.