This statistic shows the size of the ocean freight market worldwide in 2020 and gives a forecast through 2027. In 2022, it is expected that the ocean freight market will amount to 66 million TEUs.

The Sea Freight Logistics Market Report Forecast and Industry Trends, and It is Segmented by Type (FCL, LCL, and Other Types) and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The Report Offers the Market Size in Value (USD) for all the Above Mentioned Segments.

According to Cognitive Market Research, the global Maritime Freight Transport market size will be USD 385694.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 154277.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 115708.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 88709.74 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 19284.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 7713.89 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
The Dry Bulk Cargo Type held the highest Maritime Freight Transport market revenue share in 2024.

Market Dynamics of Maritime Freight Transport Market

Key Drivers for Maritime Freight Transport Market

Increased international trade and global supply chain activities to Increase the Demand Globally

Increased international trade and global supply chain activities are driving the Maritime Freight Transport market because shipping is the most cost-effective and efficient method for moving large volumes of goods across continents. As global trade expands, the demand for maritime freight services grows to handle the increased flow of imports and exports. The complexity of global supply chains also requires reliable and scalable transport solutions to connect manufacturers, suppliers, and consumers worldwide. Maritime transport supports diverse cargo types and provides critical infrastructure for international commerce. This surge in trade and supply chain activities stimulates the need for enhanced shipping capacity, modernized port facilities, and advanced logistics solutions, driving market growth and development.

Increasing Investments in modernizing and expanding port facilities to Propel Market Growth

Increasing investments in modernizing and expanding port facilities are driving the Maritime Freight Transport market by enhancing the efficiency and capacity of shipping operations. Upgraded ports improve cargo handling, reduce turnaround times, and facilitate faster loading and unloading processes. Investments in technology, such as automated cranes and advanced logistics systems, streamline operations and reduce operational costs. Expanding port facilities also accommodate larger vessels and increased cargo volumes, supporting higher throughput and boosting overall shipping capacity. These improvements enhance the reliability and competitiveness of maritime transport, attract more shipping lines and trade routes, and support the growing demands of global trade and supply chains, driving the market's growth and development.

Restraint Factor for the Maritime Freight Transport Market

Growing Risks such as piracy, cargo theft, and geopolitical instability to Limit the Sales

Growing risks such as piracy, cargo theft, and geopolitical instability restrain the Maritime Freight Transport market by creating uncertainties and increasing operational costs. Piracy and theft pose direct threats to vessel safety and cargo security, leading to higher insurance premiums and the need for enhanced security measures. Geopolitical instability, including conflicts and trade disputes, can disrupt shipping routes, delay cargo deliveries, and impact global trade flows. These risks increase operational complexity and costs, potentially affecting profitability and investment in new infrastructure or technologies. As a result, the maritime industry faces challenges in maintaining reliable and cost-effective transport solutions, which can hinder market growth and stability.

Impact of Covid-19 on the Maritime Freight Transport Market

The COVID-19 pandemic significantly impacted the Maritime Freight Transport market by causing disruptions in global supply chains and altering shipping demand. Lockdowns and restrictions led to port congestio...

The global sea freight forwarding market size reached USD 83.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 107.4 Billion by 2033, exhibiting a growth rate (CAGR) of 2.77% during 2025-2033. The growing number of global and domestic trade activities, increasing demand for safe and fast delivery cargo, and rising cross-border e-commerce activities represent some of the key factors driving the market.

IMARC Group provides an analysis of the key trends in each segment of the global sea freight forwarding market report, along with forecasts at the global, regional, and country level from 2025-2033. Our report has categorized the market based on type, services, and vertical.

The Report Covers Global Maritime Freight Transport Market Size and Analysis. The market is Segmented by Type (Containerized and Non-containerized) and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America).

In 2024, the freight forwarding market was estimated at 176 billion U.S. dollars and is expected to increase in the following years. In 2029, the market is projected to reach the size of almost 216 billion U.S. dollars. The leading companies in this field include DHL Supply Chain, Kuehne + Nagel, and Panalpina.

Maritime Freight Transport Market size was valued at USD 372.52 Billion in 2024 and is projected to reach USD 468.51 Billion by 2031, growing at a CAGR of 4.30% during the forecast period 2024-2031.

Global Maritime Freight Transport Market Drivers

Global Trade and Economic Activity: The demand for maritime freight transport is closely tied to global trade volumes and economic activity. Factors such as GDP growth, consumer demand, and international trade agreements impact the movement of goods via maritime shipping.

Commodity Demand and Supply Chains: Demand for maritime freight transport is driven by the need to transport various commodities such as raw materials, manufactured goods, and energy resources across global supply chains. Industries like manufacturing, agriculture, and energy rely heavily on maritime shipping for transportation.

Shipping Capacity and Fleet Expansion: The availability of shipping capacity, including vessels, containers, and port infrastructure, influences the dynamics of the maritime freight transport market. Investments in fleet expansion, vessel efficiency, and port infrastructure impact the industry’s capacity to meet demand.

Fuel Prices and Operating Costs: Fluctuations in fuel prices and operating costs affect the profitability and competitiveness of maritime freight transport. Shipping companies monitor fuel prices closely and adopt fuel-efficient technologies to manage costs and remain competitive.

Regulatory Environment: Regulatory factors such as environmental regulations, safety standards, and trade policies impact the maritime freight transport market. Compliance with international regulations, such as IMO regulations on emissions and ballast water management, influences industry practices and investment decisions.

Technological Advancements: Technological innovations, such as digitalization, automation, and blockchain, are transforming the maritime freight transport industry. Adoption of digital platforms for booking, tracking, and documentation streamlines operations and enhances efficiency.

Environmental Sustainability: Growing concerns about environmental sustainability drive initiatives to reduce emissions and improve the environmental performance of maritime shipping. Adoption of cleaner fuels, alternative propulsion systems, and eco-friendly practices shape the industry’s response to sustainability challenges.

Trade Routes and Market Dynamics: Changes in trade routes, market demand, and geopolitical factors influence shipping patterns and route optimization in the maritime freight transport market. Market shifts, such as the rise of e-commerce or changes in manufacturing locations, impact shipping demand.

Infrastructure Investments and Port Efficiency: Investments in port infrastructure, dredging, and intermodal connectivity enhance port efficiency and capacity, facilitating the movement of goods through maritime freight transport. Improvements in port infrastructure drive growth in container throughput and shipping volumes.

Market Competition and Alliances: Intense competition among shipping lines, alliances, and logistics providers shapes market dynamics in the maritime freight transport industry. Strategic alliances, mergers, and acquisitions impact market consolidation and competitive strategies among industry players.

Asia Pacific Sea Freight Logistics Market Report Forecast and Industry Trends, and It is Segmented by Type (FCL, LCL) and Country (Australia, China, India, Indonesia, Japan, Malaysia, Thailand, Vietnam). The Report Offers Market Size and Forecast Values (USD) for all the Above Segments.

In 2022, Kuehne + Nagel was ranked the world's leading ocean freight forwarder, with almost 4.4 million twenty-foot equivalent units of ocean freight. Kuehne + Nagel – additional information Headquartered in Switzerland, Kuehne + Nagel was founded in 1890 in Bremen, Germany. At the present time, Kuehne + Nagel Group has offices in more than 100 countries and employs approximately 78,000 people. In the fiscal year 2021, the company generated roughly 36.7 billion Swiss francs from its worldwide operations, and over 5.3 billion Swiss francs from its operations in Asia Pacific. Between the fiscal year of 2013 and 2021, the operational expenses of Kuehne + Nagel increased somewhat continuously, reaching 6.2 billion Swiss francs in 2021. The ocean freight market Between 1990 and 2021, the seaborne trade transport volume more than doubled, reaching 10.99 billion metric tons. In 2021, 1.95 billion metric tons of international seaborne trade were transported by container ships. As of January 2022, Panama possessed the largest merchant fleet by operator domicile globally, with 349.8 million tons deadweight.

The North American Sea Freight Forwarding Market Report is Segmented by Type (FCL, LCL, and Others) and by Region (USA, Canada, and Mexico). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

Container Shipping Market size was valued at USD 120.69 Billion in 2023 and is projected to reach USD 146.79 Billion by 2031, growing at a CAGR of 4.99% during the forecast period 2024-2031.

Global Container Shipping Market Drivers

The market drivers for the Container Shipping Market can be influenced by various factors. These may include:

Global Trade Growth: The container shipping market is heavily influenced by global trade growth, which drives demand for shipping services. Economies experiencing robust growth tend to import and export more goods, increasing the need for container shipping. Changes in trade policies, international agreements, and economic recovery from downturns also play a significant role. Additionally, emerging markets contribute to higher demand as they seek to connect with established economies. The rise of e-commerce has also transformed consumer behavior, driving more goods through container shipping routes. Consequently, fluctuations in global GDP can directly impact shipping volumes and freight rates.

Technological Advancements: Technological advancements are revolutionizing the container shipping industry, enhancing operational efficiency and reducing costs. Innovations such as automated container terminals, digital tracking systems, and data analytics are improving logistics and supply chain management. Furthermore, the adoption of eco-friendly technologies, including alternative fuels and energy-efficient vessels, is becoming crucial due to increasing environmental regulations. Shipping companies are investing in technology for better route optimization and vessel utilization, thus maximizing profitability. These advancements boost competitiveness in a market where operational costs are tied to technology viability. As technology evolves, so will the capabilities and service offerings in the container shipping sector.

Global Container Shipping Market Restraints

Several factors can act as restraints or challenges for the Container Shipping Market. These may include:

Regulatory Compliance: The container shipping market faces significant constraints due to strict regulatory compliance requirements imposed by international, national, and local authorities. Shipping companies must adhere to various environmental regulations, including emissions standards and ballast water management protocols. Non-compliance can result in hefty fines and operational delays. Additionally, customs regulations complicate cross-border shipping, necessitating robust documentation and rigorous inspections. The constantly evolving regulatory landscape requires shipping companies to invest in compliance systems and training, which can divert resources away from other operational areas. These increasing regulatory demands can hinder market growth and profitability as companies strive to maintain compliance while managing costs.

Infrastructure Limitations: Infrastructure limitations present a major restraint on the container shipping market. Ports are often congested, leading to delays and increased operational costs. Insufficient docking facilities can result in longer turnaround times for vessels, limiting shipping frequency and capacity. Moreover, aging port infrastructure may not be equipped to handle larger modern vessels, restricting access to essential services and resources. This infrastructure challenge can lead to increased transit times and reduced efficiency, ultimately affecting service reliability and customer satisfaction. Investment in upgrading port facilities and transport connections is essential to overcome these limitations, but such efforts require substantial capital and time.

The Maritime Industry in China is segmented by Freight Transport Services, Vessel Leasing, and Rental Services, Cargo Handling (Container Services, Crane Services, Stevedoring Services, etc.), Supporting Service Activities to Water Transport (Shipping Agencies, Ship Brokering Services, Ship Management Services, etc.)).

The size and share of the market is categorized based on Type (Full Container Load (FCL), Less-Than Container Load (LCL), Others) and Application (Agricultural, Automotive, Beverage, Electronic, Other) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The Report Covers Global Freight Forwarding Market Trends and Companies. The Market is Segmented by Mode of Transport (Air Freight Forwarding, Ocean Freight Forwarding, Road Freight Forwarding, and Rail Freight Forwarding), Customer Type (B2C and B2B), Application (Industrial and Manufacturing, Retail, Healthcare, Oil and Gas, Food and Beverages, and Other Applications), and Geography (North America (United States, Canada, and Mexico), Europe (Spain, Germany, France, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, South Africa, Morocco, GCC, and Rest of LAMEA). The Market Size and Forecasts are Provided in Terms of Values (USD) for all the Above Segments.

Between 2020 and 2028, the global container shipping market is forecast to grow at a compound annual growth rate (CAGR) of some 12 percent. While the market was sized at some 6.41 billion U.S. dollars in 2020, it is expected to reach the value of around 15.87 billion U.S. dollars in 2028.

The size and share of the market is categorized based on Type (Cloud Based, Web Based) and Application (Small and Medium Enterprises (SMEs), Large Enterprises) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Global Ocean freight Air freight market size 2025 was XX Million. Ocean freight Air freight Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

Europe Sea Freight Forwarding Market Report is Segmented by End User (Automotive, Chemicals, FMCG, Retail (Hypermarket, Supermarket, Convenience Stores, and E-Commerce), Fashion & Lifestyle (Apparel and Footwear), Reefer (Fruits, Vegetables, Pharma, Meat, Fish and Seafoods), Technology (Consumer Electronics and Home Appliances), Other End Users), Type (Full Container Load, Less Than Container Load, Other Types) and Country (Germany, France, Netherlands, United Kingdom, Italy, Rest of Europe). The Report Offers the Market Size in Value Terms in USD for all the Above Mentioned Segments.

Global Ocean Freight Forwarding market size 2025 was XX Million. Ocean Freight Forwarding Industry compound annual growth rate (CAGR) will be XX% from 2025 till 2033.

In 2021, Asia Pacific overtook Europe as the largest market for global freight forwarding, with a share of 34.9 percent. International trade is one of the main drivers of growth in the freight forwarding market.