The global cargo vessel market size was valued at USD 37.07 billion in 2022. The market is projected to grow from USD 49.22 billion in 2023 to USD 61.77 billion by 2030, exhibiting a CAGR of 3.3% during the forecast period.

Cargo vessels are mainly used to transport materials and goods from one port to another. The cargo vessels are divided in size based on the transporting cargo, such as panamax, capsize, handysize, and handymax. The rising preference toward cargo transport by industries, such as oil & gas, food & beverages, automotive, and others is estimated to drive market growth during the forecast period.

Fortune Business Insights™ mentioned this in a report titled, “Cargo Vessel Market, 2023-2030.”

Informational Source:

https://www.fortunebusinessinsights.com/cargo-vessel-market-108601

List of Key Players Present in the Report:

• Hyundai Heavy Industries Co. Ltd (HHI) (South Korea)
• Namura Shipbuilding Co Ltd (Japan)
• Damen Shipyards Group (Netherlands)
• Korea Shipbuilding & Offshore Engineering (South Korea)
• Samsung Heavy Industries (South Korea)
• Daewoo Shipbuilding & Marine Engineering (South Korea)
• General Dynamic NASSCO (U.S.)
• Mitsubishi Heavy Industries (Japan)
• Mazagon Dock Shipbuilders Limited (India)
• China State Shipbuilding Corporation (China)

Segments

Tanker Segment Growth Augmented by Increasing Application to Carry Loads