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LONDON, GREATER LONDON, UNITED KINGDOM, October 11, 2024 /EINPresswire.com/ -- The shipbroking market size has grown steadily over the years. It is projected to rise from $1.33 billion in 2023 to $1.39 billion in 2024, with a CAGR of 4.9%. This growth can be linked to an increase in maritime accidents, expansion of trade routes, heightened demand for shipping services, improved connectivity of modern vessels, and a rise in wheat production.
What Is The Estimated Market Size Of The Global Shipbroking Market And Its Annual Growth Rate?
The shipbroking market is projected to experience significant growth, expected to reach $1.69 billion by 2028 with a CAGR of 5%. The anticipated growth is attributed to geopolitical events and environmental regulations, an increasing demand for cargo logistics, a growing number of ship owners, a rising need for maritime transportation services, and the emergence of more third-party agencies in shipping. Key trends include digital transformation, automation integration, shifting trade patterns, compliance pressures with regulations, and the development of blockchain-based platforms along with enhanced sea port infrastructure.
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Growth Driver of The Shipbroking Market
The increasing demand for cargo logistics is expected to drive the shipbroking market in the coming years. Cargo logistics involves the efficient planning, execution, and control of goods' movement and storage from their origin to destination. The globalization of supply chains and rising international trade are increasing the demand for efficient and reliable transportation and storage solutions. Shipbroking plays a key role in cargo logistics by negotiating and arranging sea transport, effectively matching cargoes with vessels, and managing contracts and freight rates to ensure the smooth and cost-effective movement of goods.
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Which Market Players Are Driving The Shipbroking Market Growth?
Major companies operating in the shipbroking market are Maersk Broker K/S, Clarkson Plc, Barry Rogliano Salles International S.A., Simpson Spence Young Ltd, Howe Robinson Partners Pte Ltd, Poten and Partners Inc, SPI Marine LtdE.A. Gibson Shipbrokers Ltd, Galbraiths Ltd, ShipServ Ltd, Lorentzen and Stemoco AS, McQuilling Partners Inc, Maritime London Ltd, Braemar Shipping Services Plc, Agora Shipbroking Corporation, Anchor Shipbroking Inc, Bright Cook & Co Limited, Endole Ltd, Charles R. Weber Company Inc, Compass Maritime Services LLC, Fearnley Securities, Interocean Group, Seacore Shipbrokers Ltd, Shiplinks, Velian Ship Brokers
What Are The Emerging Trends Shaping The Shipbroking Market Size?
Major players in the shipbroking market are focusing on the development of vessel auction platforms, which streamline vessel transactions and promote transparency in the maritime industry. These online platforms facilitate competitive bidding and the selling of ships, enhancing the efficiency of transactions.
How Is The Global Shipbroking Market Segmented?
1) By Type: Container Vessels, Tankers, Dry Bulk, Valuations, Recycling
2) By Application: Bulker, Tanker, Other Applications
3) By End Use: Oil And Gas, Manufacturing, Aerospace And Defense, Government, Other End Users
Geographical Insights: North America Leading The Shipbroking Market
North America was the largest region in the shipbroking market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shipbroking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Shipbroking is a specialized segment of the maritime industry that provides intermediary services between shipowners and charterers or buyers and sellers of ships. Shipbrokers play a crucial role by offering market insights, negotiating terms, and ensuring compliance with contractual obligations in the maritime sector.
Shipbroking Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global shipbroking market report covering trends, opportunities, strategies, and more
The Shipbroking Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on shipbroking market size, drivers and trends, shipbroking market major players, competitors' revenues, market positioning, and market growth across geographies. The market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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