iCrowdNewswire Jan 18, 2021 8:59 PM ET
Global Maritime Logistics and Services Market.
Global Maritime Logistics and Services Market is expected to exhibit a CAGR of 7.8% from 2020 to 2026. The growing seaborne trade globally and an increase in free trade agreements between various countries are driving the growth of the market.
The increasing need for safe and cost-effective shipping
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Growth Opportunities in the Market
- Bulk cargo segment expected to register higher growth: The bulk segment is expected to exhibit a higher CAGR during the review period. This can be attributed to the large use of bulk cargo for transportation of oil or its products such as gasoline, distillates such as diesel fuel and heating oil, jet fuel, petrochemical feedstocks, asphalt, and lubricating oils.
- Port and cargo handling segment expected to register the higher growth rate: The port and cargo handling segment is expected to exhibit a higher CAGR during the review period. This includes loading, unloading, and packing or unpacking of cargo.
- The supply chain management segment is expected to be the fastest-growing: The supply chain management segment accounted for the largest market share in 2019 and is expected to register the highest CAGR during the forecast period of 2020 to 2026. Around 90% of the world trade is carried by sea. Therefore, being the vital link between sea and land, ports have to focus on effectiveness, efficiency, and cost reduction, which requires advanced supply chain management solutions.
- Key Players
- P. Moller-Maersk A/S
- Mediterranean Shipping Company SA
- China Ocean Shipping Company Limited
- CMA CGM SA
- Hapag-Lloyd AG
- Ocean Network Express Pte. Ltd
- Evergreen Line
- YangMing Marine Transport Corp.
- Hyundai Merchant Marine
- Pacific International Lines
Other Prominent Players
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