Global Shipbroking Market Analysis 2024: Size Forecast and Growth Prospects

The shipbroking global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Shipbroking Market, 2024The shipbroking global market report 2024

Market Size – The shipbroking market size has grown steadily in recent years. It will grow from $1.33 billion in 2023 to $1.39 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to a rise in maritime accidents, trade route expansions, a rise in demand for shipping services, increased connectivity of modern ships, and an increase in the production of wheat.
The shipbroking market size is expected to see strong growth in the next few years. It will grow to $1.69 billion in 2028 at a compound annual growth rate (CAGR) of 5%. The growth in the forecast period can be attributed to geopolitical events and environmental regulations, rising demand for cargo logistics, an increasing number of ship owners, increasing demand for maritime transportation services, and a growing number of third-party agencies in the shipping business. Major trends in the forecast period include digital transformation, integration of automation, shifting trade patterns and regulatory compliance pressures, the development of blockchain-based platforms, and the development of sea port infrastructure.

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Scope Of Shipbroking MarketThe Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Shipbroking Market Overview

Market Drivers -The rising demand for cargo logistics is expected to propel growth in the shipbroking market moving forward. Cargo logistics entails the efficient planning, execution, and control of goods’ movement and storage from origin to destination. The demand for cargo logistics is on the rise due to the globalization of supply chains and increasing international trade, which necessitate reliable and efficient transportation and storage solutions. Shipbroking enhances cargo logistics by negotiating and arranging sea transport, effectively matching cargoes with vessels, and managing contracts and freight rates to ensure smooth and cost-effective movement of goods. For instance, in June 2024, the United States Department of Transportation noted that domestic U.S. transportation via water mode was 644 million tons in 2023 and is expected to reach 1,238 million tons by 2050. Therefore, the increasing demand for cargo logistics is driving the growth of the shipbroking market, with sustained expansion projected through 2024 and into 2028.

Market Trends – Major companies operating in the shipbroking market are focusing on developing advanced digital solutions, such as vessel auction platforms, to streamline vessel transactions and enhance market transparency. Vessel auction platforms are online platforms designed for the competitive bidding and selling of ships, promoting efficient and transparent transactions in the maritime industry. For instance, in September 2023, GMS Inc., a United Arab Emirates-based provider of ship recycling and cash buyer services, launched the Ship Recycling Portal, a groundbreaking digital platform to transform the ship recycling industry. The ship recycling portal revolutionizes ship recycling by simplifying the sale of end-of-life vessels directly to shipyards. This platform facilitates real-time auctions for end-of-life vessels, allowing ship recyclers to bid conveniently from their offices or homes, eliminating the need for in-person negotiations. The portal provides a transparent and efficient process, enabling buyers to see competing offers and make informed decisions. The platform is also open to other shipowners and cash buyers, positioning it as a potential primary method for delivering vessels to recycling yards in the future.

The shipbroking market covered in this report is 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

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Regional Insights – 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.

Key Companies – Major companies in the 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

Table of Contents

1. Executive Summary
2. Shipbroking Market Report Structure
3. Shipbroking Market Trends And Strategies
4. Shipbroking Market – Macro Economic Scenario
5. Shipbroking Market Size And Growth

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27. Shipbroking Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
    29. Future Outlook and Potential Analysis
    30. Appendix

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