Market Size of Container Shipping Industry
| Study Period | 2020- 2029 |
| Market Size (2024) | USD 116.04 Billion |
| Market Size (2029) | USD 134.03 Billion |
| CAGR (2024 - 2029) | 3.11 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Container Shipping Market Analysis
The Container Shipping Market size is estimated at USD 116.04 billion in 2024, and is expected to reach USD 134.03 billion by 2029, growing at a CAGR of 3.11% during the forecast period (2024-2029).
- The global container shipping industry may be dealing with a volatile situation in the Red Sea. Still, this year should provide plenty of moments for most professionals in space. Supply chain professionals are strategically rethinking trade routes and embracing technology to foster resilience and innovation. While shipping companies are optimistic about the industry’s growth, they remain vigilant, recognizing potential disruptions, such as geopolitical tensions.
- Investments in technology and planning are the top investment trend, with 30% of respondents saying that is where they spend money. Real-time visibility and tracking (24%), collaboration and connectivity (27%), and process automation (18%) also appeared on the list.
- The increase in volumes transported was due to the pick-up in global economic activity following the easing of various lockdown measures, the strong momentum in terms of the consumption of goods encouraged in some locations by support packages, strong e-commerce growth with inventory rebuilding, and the usual seasonal variation in business activity.
- A heightened focus on corporate sustainability goals and new regional regulations from the European Union (EU) puts sustainability at the top of mind for many shippers and carriers heading into this year.
- For example, under the EU’s Carbon Border Adjustment Mechanism (CBAM) law, all EU importers need to report carbon emissions related to the production of certain products. Additionally, starting January 1, carriers shipping to, from, or within the European Economic Area (EEA) are subject to the EU’s new Emission Trading System (ETS) regulations, which were expanded to include maritime shipping.
- Many ocean carriers have already made progress toward more sustainable shipping, including using slow steaming to meet emissions standards like the 2023 IMO GHG Strategy and introducing biofuels such as ammonia, methanol, and recycled cooking oil. However, the new requirements from the European Union may lead carriers to adjust schedules, implement surcharges, or make other changes to meet their sustainability goals, which would inevitably impact shippers.
