The global maritime logistics and services market size was valued at USD 77.76 Billion in 2022 and is expected to surpass USD 115.56 Billion by 2031, expanding at a CAGR of 4.5% during the forecast period, 2023–2031. Maritime logistics is described as the transportation of products from one location to another using cargo ships. Ports are nautical commercial facilities located on a shore or coast that are used to transport cargo and persons as well as ship docking.
Maritime transport logistics enables firms to keep their products moving smoothly and without delay across all locations. Ports are an essential component of the global transportation sector and play an important role in the global economy's expansion. Maritime logistics and services refer to ships that are operated by civilian crews to transfer merchandise from one location to another via seaways.
Market Trends, Drivers, Restraints, and Opportunities:
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Increasing maritime transport is one of the key drivers of the market.
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Rising economic conditions in various nations, along with increased import and export, are boosting the maritime logistics and services market.
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Market is also being driven by an increasing number of free trade agreements between countries.
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Growing demand for cost-effective and safe transportation, are driving the market.
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Increasing demand for container handling services is expected to boost the market.
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High demand for port infrastructure development is expected to drive the market.
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Growing tensions between countries act as a key hindrance to the market.
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New ports are likely to be built alongside new trade routes, creating opportunities for the marine port services market to flourish.
Scope of Maritime Logistics and Services Market Report
The report on the maritime logistics and services market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Maritime Logistics and Services Market- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2018–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (General Cargo [Containerized, Break Bulk, and Neo Bulk], and Bulk Cargo [Dry Bulk and Liquid Bulk]), Services (Container Handling Services, Mechanical & Electrical Engineering Services, Navigation Services, Ship Repair & Maintenance Services, and Supply Chain & Logistics Solution Services)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Evergreen Marine Corp.; Ocean Network Express Pte. Ltd; Pacific International Lines Pte Ltd; CMA CGM LOG; A.P. Moller-Maersk; Hapag-Lloyd AG; Hyundai Merchant Marine India Private Limited; China Ocean Shipping Company Limited; Mediterranean Shipping Company S.A; and YANG MING Group.
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Maritime Logistics and Services Market Segment Insights
The general cargo segment is projected to hold significant market share
Based on types, the maritime logistics and services market can be bifurcated into general cargo and bulk cargo. The general cargo segment is further segmented into containerized, break bulk, and neo bulk. The bulk cargo is sub-segregated into dry bulk and liquid bulk. The general cargo segment is projected to hold significant market share. General cargo is used to transport meals, machines, chemicals, clothing, and other items. The rise in global maritime trade, as well as notable expansion in the pharmaceutical, industrial, agricultural, petrochemical, and automotive industries, is projected to drive the segment.
The container handling services segment is anticipated to account for a substantial share
On the basis of services, the market can be fragmented into container handling services, mechanical & electrical engineering services, navigation services, ship repair & maintenance services, and supply chain & logistics solution services. The container handling services segment is anticipated to account for a substantial share, due to increasing container cargo traffic. Because of the shifting trend of the maritime sector toward digitalization, the supply chain and logistics solutions services market is likely to grow at a high CAGR during the forecast period.
Asia Pacific is expected to dominate the market
In terms of regions, the maritime logistics and services market is categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market. The rise of middle-class population is expected to enhance demand for European products, boosting commerce and stimulating Asian port activity. Because of the use of more technologically advanced manufacturing techniques, such as 3D printing, local production of goods is expected to increase, resulting in new local trade channels and market expansion.
Segments
By Types
- General cargo
- Containerized
- Break bulk
- Neo bulk
- Bulk cargo
By Services
- Container Handling Services
- Mechanical & Electrical Engineering Services
- Navigation Services
- Ship Repair & Maintenance Services
- Supply Chain & Logistics Solution Services
By Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
By Key Players
- Evergreen Marine Corp.
- Ocean Network Express Pte. Ltd
- Pacific International Lines Pte Ltd
- CMA CGM LOG
- A.P. Moller-Maersk
- Hapag-Lloyd AG
- Hyundai Merchant Marine India Private Limited
- China Ocean Shipping Company Limited
- Mediterranean Shipping Company S.A.
- YANG MING Group
Competitive Landscape
Key players in the maritime logistics and services market include Evergreen Marine Corp.; Ocean Network Express Pte. Ltd; Pacific International Lines Pte Ltd; CMA CGM LOG; A.P. Moller-Maersk; Hapag-Lloyd AG; Hyundai Merchant Marine India Private Limited; China Ocean Shipping Company Limited; Mediterranean Shipping Company S.A; and YANG MING Group. These players are actively engaged in several market development activities including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to strengthen their geographical presence and expand their customer base globally.
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