Cargo Shipping Market - Opportunities, Size & Growth Projections
The global cargo shipping market is projected to grow at a CAGR of over 3%, in value terms, during 2023-2027. Global trade of manufactured goods, increasing demand & supply for sea transportation, and growing infrastructure development in various countries are the factors for growth in the global cargo shipping market. Challenges related to global environmental changes and geopolitics can hamper the growth of the cargo shipping market. The global cargo shipping market is segmented based on product, industry, and geography. Based on product type, general cargo dominated the market in 2021 as it includes advantages such as individual transport of commodities that help in reduced ship time at port terminals and enhanced utilization of ship space. Regionally, Asia-Pacific dominated the market share in 2021 which can be attributed to the rising trend of globalization and demographic changes. Some of the major players operating in the global cargo shipping market CMA-...