Maritime Sector Market: Global Industry Analysis and Forecast (2024-2030)

Maritime Sector Market Overviews

The maritime industry is crucial for global trade, responsible for transporting over 95% of global trade by volume, totaling around 11 billion tons annually. The industry, consisting of approximately 50,000 merchant vessels, forms the backbone of international commerce, ensuring the smooth movement of goods, products, and people worldwide. The maritime sector is not only essential for global trade but also serves as a major source of employment. With over 1.8 million seafarers and an estimated 20+ million workers supporting the maritime sector, it significantly contributes to job creation and economic growth globally. As per the study, the Maritime Sector Market is expected to grow during the forecast period.

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Maritime Sector Market Scope and Methodology:

Maritime transport is essential for global trade and development, with over 80 percent of goods transported by sea. Developing countries rely heavily on shipping, accounting for 55 percent of seaborne exports and 61 percent of imports. Ports serve as gateways for economic growth, enabling countries to participate in trade and fostering development. To build resilience in supply chains and combat climate change, the maritime sector is pivotal.

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Maritime Sector Market Regional Insights

Asia Pacific Maritime Sector Market dominated the global market in 2023. As per the study Indian market is expected to grow at a high rate during the forecast period. TK Ramachandran, Secretary of the Ministry of Ports, Shipping, and Waterways, emphasized the substantial growth potential in India's maritime sector and advocated for enhanced collaboration with Europe. Addressing the 2nd CII India Europe Business and Sustainability Conclave, he underscored the opportunities within the India-Middle-East-Europe Connectivity Corridor and highlighted the potential for collaboration in shipbuilding and the development of green ports. Asia Pacific Maritime (APM) returns for its 18th installment in Singapore from 13 to 15 March 2024 at the Marina Bay Sands, serving as the largest meeting place in Southeast Asia for the global maritime value chain.

Maritime Sector Market Segmentation

Based on Service, the market is segmented into Water Transport Services, Vessel Leasing and Rental Services, Cargo Handling, Supporting Service Activities to Water Transport and Others. The Water Transport Services held the largest Maritime Sector Market share in 2023. Water transportation has been essential for moving commodities and people for centuries. In 2020, around 80 percent of global goods were transported by sea, with vital commodities such as coal, oil, and gas making up a significant portion. Ships offer a vast capacity, making them economical for transporting large, heavy, and bulky items. Despite their efficiency, shipping accounted for only 11 percent of global transportation emissions in 2020, less than road freight transport.

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Maritime Sector Market Key Players

Maersk Group (Copenhagen, Denmark)
Mitsubishi Heavy Industries (Tokyo, Japan)
CMA CGM Group (Marseille, France)
China COSCO Shipping Corporation (Shanghai, China)
Hyundai Heavy Industries (Ulsan, South Korea)
Evergreen Marine Corp. Ltd. (Taipei, Taiwan)
Samsung Heavy Industries (Seoul, South Korea)

Key questions answered in the Maritime Sector Market are:

What is Maritime Sector?
What was the Maritime Sector market size in 2023?
What is the growth rate of the Maritime Sector Market?
Which are the factors expected to drive the Maritime Sector market growth?
What are the different segments of the Maritime Sector Market?
What growth strategies are the players considering to increase their presence in Maritime Sector?
What are the upcoming industry applications and trends for the Maritime Sector Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Maritime Sector Market?
Who are the leading companies and what are their portfolios in Maritime Sector Market?
What segments are covered in the Maritime Sector Market?
Who are the key players in the Maritime Sector market?




Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations


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Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company's vision is to be an integral part of the client's business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

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