Cargo Shipping Market Report 2026

The cargo shipping market size has grown steadily in recent years. It will grow from $13.11 billion in 2025 to $13.76 billion in 2026 at a compound annual growth rate (CAGR) of 5%. The growth in the historic period can be attributed to globalization of trade, expansion of manufacturing hubs, port infrastructure development, growth of maritime transport, demand for bulk commodities.

The cargo shipping market size is expected to see steady growth in the next few years. It will grow to $16.6 billion in 2030 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to e-commerce driven logistics demand, reshoring and nearshoring trends, digitalization of shipping operations, sustainability regulations, growth in emerging markets. Major trends in the forecast period include growth of global trade volumes, expansion of containerized shipping, adoption of digital freight platforms, rising demand for cold chain logistics, increasing focus on supply chain resilience.

The growth in automotive manufacturing is expected to drive the cargo shipping market going forward. The expansion of automotive manufacturing is fueled by factors such as rising populations, increasing motorization rates, strong government support through policies and infrastructure development, foreign direct investment, and joint ventures. Automotive cargo shipping involves transporting vehicles and auto parts by sea using large container ships for global distribution. This approach is cost-effective for long-distance bulk transport and ensures timely and secure delivery. For instance, in January 2024, according to the Society of Motor Manufacturers and Traders (SMMT), a UK-based trade association, total vehicle production in the UK (cars and commercial vehicles) reached approximately 1,025,474 units in 2023, up 17% from the previous year. Therefore, the growth in automotive manufacturing is supporting the cargo shipping market.

Major companies in the cargo shipping sector are focusing on the development of advanced transport vessels, such as electric container ships, to enhance service offerings. Electric container ships are powered by electric propulsion systems, typically utilizing batteries or fuel cells, aimed at transporting cargo containers with lower emissions and improved environmental sustainability compared to conventional diesel-powered ships. For instance, China Ocean Shipping Company Limited introduced the world's largest pure electric container ships, the Green Water 01 and Green Water 02, in May 2024. These ships can carry up to 700 standard 20-foot containers (TEU) and are designed for operations along the Yangtze River and beyond, covering distances exceeding 600 miles. Equipped with a high-capacity battery system exceeding 50,000 kWh, expandable to 80,000 kWh with additional 20-foot battery containers, these vessels complete voyages with energy consumption equivalent to just 15 tons of fuel used by traditional container ships.

In June 2024, Inchcape Shipping Services acquired Grieg Logistics, enhancing its capability to deliver high-quality and dependable services. This acquisition strengthens Inchcape's operational expertise across shipping, raw materials, energy, and governmental services. Grieg Logistics, based in Norway, specializes in providing cargo shipping services.

Major companies operating in the cargo shipping market report include DHL International GmbH, China Ocean Shipping Company Limited, Maersk, CMA CGM Group, Hapag-Lloyd AG, Ocean Network Express Pte. Ltd., MSC Mediterranean Shipping Company S.A., Evergreen Marine Corp. Ltd., Orient Overseas Container Line Limited, Nippon Express Co. Ltd, Zhonggu Logistics Corporation, Zim Integrated Shipping Services, Yang Ming Marine Transport Corporation, Mitsui O.S.K. Lines Ltd., Antong Holdings Co Ltd, Hyundai Merchant Marine Co. Ltd., Panalpina World Transport (Holding) Ltd., Regional Container Lines, Swire Shipping, Pacific International Lines Pte Ltd, Emirates Shipping Line, Sinokor Merchant Marine Co. Ltd., Sea Lead Shipping.

Asia-Pacific was the largest region in the cargo shipping market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the cargo shipping market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cargo shipping market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The cargo shipping market consists of revenues earned by entities by providing services such as container shipping, tanker shipping, refrigerated cargo shipping, freight forwarding, and transporting a variety of goods. The market value includes the value of related goods sold by the service provider or included within the service offering. The cargo shipping market also includes sales of standard containers, refrigerated containers, tank containers, and flat rack containers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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