Procurement Resource Thumbnail Book Image

Global Ocean Freight Services Industry Report: Country Overview; Value Chain Analysis; Production Process; Cost Structure; Market Dynamics: Drivers & Constraints, Industry Events, Innovations & Trends, SWOT Analysis, Porter’s Five Forces; Industry Best Practices: Sourcing Strategy, Procurement Model, Contract Structure, Key Factors Influencing the Quotation; Key Supplier Analysis, 2022-2027

Ocean Freight Services Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices


The global Ocean Freight Services market reached a value of about 161 million TEU in 2021. The industry is projected to grow at a CAGR of around 5% in the forecast period of 2022-2027 to reach a value of about 216 million TEU by 2027.

The global Ocean Freight Services industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. With the rising need to transport goods globally due to growing globalisation, the market will witness growth. The Asia Pacific is the highest category spender by region, driving the demand for the Ocean Freight Services industry.

Industry Definition and Segmentation

Ocean freight means transporting vast amounts of merchandise into big containers and loading them onto ships to convey to the target country. The Ocean Freight Services industry report comprises segments by end-use (FMCG, F&B, Consumer Electronics, Pharmaceuticals) and region (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).

The Asia Pacific Region is Driving the Growth of the Industry

Asia Pacific region holds the largest share in the market due to the growing popularity of online shopping. As a result, domestic and cross-border e-commerce in areas like China, India, and Indonesia is propelling the industry. As developing nations transition from manufacturing for export to higher consumption levels by expanding middle classes, e-commerce growth is closely linked to consumption growth in the region.

The market is being driven by the rise in e-commerce activity across the globe. The increase in internet penetration, rise in disposable incomes, purchasing power parity, infrastructure development, and strong demand for services tailored to the e-commerce industry drive the market's growth. Freight forwarders also provide other integrated services such as packing, insurance, and documentation in addition to cargo transportation. As a result, the availability of a wide range of services boosts the market's expansion. Furthermore, an increase in the number of heavy cargoes for transportation increased international trade, and increased demand for low-cost cargo transportation techniques might contribute to the industry's development.

However, an increase in cargo delays due to bad weather conditions and an increase in ship maintenance costs are likely to hamper the industry's growth.

Best Procurement Practices

The global Ocean Freight Services industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Ocean Freight Services regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Infrastructure is required for a port to successfully convey and receive cargo: docks, bollards, pilings, cranes, bulk cargo handling equipment, and so on - equipment and organisation that supports the role of the facilities. The transport can be accomplished over any distance, including oceans and lakes, canals, and rivers, by boat, ship, sailboat, or barge. Shipping is used for various reasons, including business, recreation, and military purposes. While large inland shipping is no longer as crucial as it once was, the world's major waterways, including many canals, remain vital to global economies. Water may transport any material, but water transport becomes impracticable when material delivery is time-critical, such as certain types of perishable produce. Still, sea transport is very cost-effective for frequent schedulable cargoes like the trans-oceanic shipment of consumer goods – and especially for big loads or bulk cargoes like coal, coke, ores, or grains.

Technological Developments, Further Driving the Ocean Freight Services Market

The technological advancements in the sector are propelling the market. Improvements and increased digitalisation by businesses are anticipated to provide market opportunities. Several maritime freight forwarding companies use blockchain to increase their overall operational efficiency. The efficiency of ocean freight forwarding is predicted to improve due to this trend. In addition, increased digitalisation by businesses is anticipated to provide market opportunities.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Ocean Freight Services Industry Report

  • A.P. Moller – Maersk
  • China Ocean Shipping Company, Limited
  • HapagLloyd AG
  • Mediterranean Shipping Company S.A. (MSC)
  • ZIM Integrated Shipping Services Ltd.

Market Landscape

The market for sea freight forwarding is highly competitive and fragmented, with many companies. The best service providers have a global footprint. Many new firms have entered the industry since ocean freight volume has tripled. The focus is on lowering fuel costs and increasing ship utilisation rates.

Key Initiatives by Companies

  • A.P. Moller – Karachi Maersk's (Maersk) strong commitment to Pakistani exporters is paying off, as seen by Maersk's (Maersk) robust export increase in the first quarter of 2022. Following a drop in exports in 2021 due to the global pandemic's numerous obstacles, local exporters have moved about 33 percent more containers out of the country on Maersk vessels between January and March this year than during the same period last year. Maersk's initiatives to ensure access to empty containers and vessel space have made a significant difference in the recent quarter.
  • April 24, 2022, HAIFA, Israel — ZIM Integrated Shipping Services (NYSE: ZIM) announced today that the transatlantic ZIM Container Turkey service (ZCT) would become a weekly service starting in mid-May 2022, offering better connectivity between Turkey and the U.S. East Coast.

1.    Executive Summary
2.    Ocean Freight Services Market Snapshot

    2.1.    Ocean Freight Services Market Outlook
    2.2.    Ocean Freight Services Industry Analysis By Major End-Use 
        2.2.1.    FMCG
        2.2.2.    F&B
        2.2.3.    Consumer Electronics
        2.2.4.    Pharmaceuticals
    2.3.    Regional Overview
        2.3.1.    North America
        2.3.2.    Europe
        2.3.3.    Asia Pacific 
        2.3.4.    Latin America
        2.3.5.    Middle East & Africa
3.    Impact of Recent Events 
4.    Ocean Freight Services Value Chain Analysis 
5.    Ocean Freight Services Production Process
6.    Trade Analysis 
7.    Major Risk Factors in Sourcing
8.    Ocean Freight Services Cost Structure
9.    Ocean Freight Services Price Analysis 
10.    Key Demand Indicator Analysis
11.    Key Price Indicator Analysis
12.    Ocean Freight Services Market Dynamics

    12.1.    Drivers & Constraints
    12.2.    Industry Events 
    12.3.    Innovations & Trends
    12.4.    Swot Analysis
    12.5.    Porter’s Five Forces
        12.5.1.    Buyer Power
        12.5.2.    Supplier Power
        12.5.3.    Threat of New Entrants
        12.5.4.    Threat of Substitutes
        12.5.5.    Industry Rivalry
13.    Industry Best Practices
    13.1.    Sourcing Strategy
    13.2.    Procurement Model
    13.3.    Contract Structure
    13.4.    Negotiation Levers
    13.5.    Pricing Model
    13.6.    Key Factors Influencing the Quotation 
14.    Key Supplier Analysis
    14.1.    A.P. Moller – Maersk
    14.2.    China Ocean Shipping Company, Limited
    14.3.    Hapag-Lloyd AG
    14.4.    Mediterranean Shipping Company S.A. (MSC)
    14.5.    ZIM Integrated Shipping Services Ltd.

Request Sample
Key Questions Answered in the Report

The global Ocean Freight Services market size was valued at 161 million TEU in 2021.

As per the end-use provided, the F&B segment is anticipated to lead the market between 2022 and 2027.

The significant demand for services to transport goods across the globe is one of the essential drivers of the Ocean Freight Services market growth.

Maesrk A/S, Hapang-Lloyd AG, Mediterranean Shipping Company S.A., and ZIM Integrated Shipping Services are some of the leading companies in the market.

The Asia Pacific region of the Ocean Freight Services industry holds a significant share in the market.

Analyst Review

The global Ocean Freight Services market attained a value of 161 million TEU in 2021, driven by worldwide e-commerce activity. Aided by the growing technological advancements and increased digitalisation by businesses, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 5%. The market is projected to reach 216 million TEU by 2027. Some of the leading players in the industry are Maesrk A/S, Hapang-Lloyd AG, Mediterranean Shipping Company S.A., and ZIM Integrated Shipping Services.

Procurement Resources' detailed research approach explores deep into the industry, encompassing the macro and micro aspects of the industry. Its team of experts uses a combination of cutting-edge analytical tools and their expertise, thus, delivering its customers with market insights that are accurate and actionable and help them remain ahead of their competition.

Compare test & Choose the Right Report Version for You

Why Procurement Resource?

RIGHT PEOPLE

At Procurement Resource our analysts are selected after they are assessed thoroughly on having required qualities so that they can work effectively and productively and are able to execute projects based on the expectations shared by our clients. Our team is hence, technically exceptional, strategic, pragmatic, well experienced and competent.

RIGHT METHODOLOGY

We understand the cruciality of high-quality assessments that are important for our clients to take timely decisions and plan strategically. We have been continuously upgrading our tools and resources over the past years to become useful partners for our clientele. Our research methods are supported by most recent technology, our trusted and verified databases that are modified as per the needs help us serve our clients effectively every time and puts them ahead of their competitors.

RIGHT PRICE

Our team provides a detailed, high quality and deeply researched evaluations in competitive prices, that are unmatchable, and demonstrates our understanding of our client’s resource composition. These reports support our clientele make important procurement and supply chains choices that further helps them to place themselves ahead of their counterparts. We also offer attractive discounts or rebates on our forth coming reports.

RIGHT SUPPORT

Our vision is to enable our clients with superior quality market assessment and actionable evaluations to assist them with taking timely and right decisions. We are always ready to deliver our clients with maximum results by delivering them with customised suggestions to meet their exact needs within the specified timeline and help them understand the market dynamics in a better way.

Similar Reports
Global Artificial Intelligence Industry Report: Analysis and Forecast 2022-2027

Email Delivery   Price: $ 999.00

The global Artificial Intelligence market reached a value of about USD 192 Billion in 2021. The industry is projected to grow at a CAGR of around 23% in the forecast period of 2022-2027 to reach a value of about USD 664.86 Billion by 2027.

Read More
Global Nutmeg Industry Report: Analysis and Forecast 2022-2027

Email Delivery   Price: $ 999.00

The global nutmeg market reached a value of about 130 thousand tonnes in 2021. The industry is further expected to grow at a CAGR of about 6% in the forecast period of 2022-2027 to reach a value of around 180 thousand tonnes by 2027.

Read More
Global HEOR Service Industry Report: Analysis and Forecast 2022-2027

Email Delivery   Price: $ 999.00

The global HEOR market reached a value of about USD 1364.3 million in 2021. The industry is further expected to grow at a CAGR of about 12.81% in the forecast period of 2022-2027 to reach a value of around USD 2779.2 million by 2027.

Read More

NEWSLETTER

Get latest News About Procurement Resource
Subscribe for news