-cean freight is the most common method of transportation used by exporters and importers to transport goods through seaways. In comparison to other freight services the ocean freight is cheaper, requires less maintenance, and is ideal for transporting bulky goods. The increasing focus towards reaching the global market is aiding the growth of ocean freight market. The ocean freight market is saturated and some of the major players holds the significant market share making it difficult for the smaller players to compete.
MARKET SCOPE
The "Global Ocean freight Market Analysis to 2028" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of the ocean freight market with detailed market segmentation by offering, carrier type, freight type, industry vertical, and geography. The report provides key statistics on the market status of the leading ocean freight market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on offering, the global ocean freight market market is segmented into solution, and service.
- On the basis of carrier type, the market is segmented into containers, bulk carriers, tankers, and others.
- On the basis of freight type, the market is segmented into less than container load LCL, full container load, FCL, and others.
- On the basis of industry vertical, the market is segmented into automotive, manufacturing, electrical and electronics, government, and others.
MARKET DYNAMICS
Drivers
- The increasing demand for reaching the global customer, cost optimization, and bulk transport of goods are expected to influence the ocean freight market positively.
Restraints
- Slow speed and risk related to the ocean freight are the significant factors that might hinder the growth of the ocean freight market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The ocean freight market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Ocean freight market in these regions.
IMPACT OF COVID-19 ON OCEAN FREIGHT MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the ocean freight market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Ocean freight market market are anticipated to lucrative growth opportunities in the future with the rising demand for Ocean freight market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Ocean freight market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- A.P. Moller
-Maersk
- Global Shipping Services, LLC
- Kvaver LTD.
- Expeditors International of Washington, Inc.
- Deutsche Post AG (DHL Group)
- KUEHNE + NAGEL
- DB Schenker
- United Parcel Service of America, Inc.
- Nippon Express
- Panalpina World Transport (Holding) Ltd.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.