
The increasing need for importing and exporting manufactured goods, transporting raw materials in large quantities, and delivering affordable food products is driving the demand for waterborne freight transportation. Hence, the cargo shipping market is expected to grow from 11.89 billion tons in 2024 to 14.72 billion tons by 2032, exhibiting a CAGR of 2.7%.
Additionally, the shipping container market is estimated to be around $7.75 billion in 2024. The global shipping container market is rapidly evolving due to maritime trade and agreements.