Shipping and Logistics Market Size & Industry Report, 2033

Shipping and Logistics Market Overview

The Shipping and Logistics Market size was valued at USD 15.86 million in 2024 and is expected to reach USD 27.68 million by 2033, growing at a CAGR of 7.21% from 2025 to 2033.

The global shipping and logistics market handles more than 12 billion metric tons of cargo annually, moving goods by sea, air, road, and rail to meet rising consumer and industrial demand. Containerized cargo alone accounted for over 800 million twenty-foot equivalent units (TEUs) shipped globally in 2023, with Asia-Pacific ports processing nearly 60% of total container throughput.

Major hubs like Shanghai, Singapore, and Rotterdam collectively handled over 100 million TEUs last year. With e-commerce parcel volumes surpassing 150 billion packages worldwide in 2023, last-mile delivery networks are expanding rapidly to keep up with demand. Cold chain logistics for perishables grew by 8% in global capacity, driven by rising pharmaceutical shipments and fresh food exports.

Warehousing footprints expanded to cover over 18 billion square feet worldwide as demand for fast inventory turnaround rose. Large fleets, including over 55,000 merchant ships and millions of trucks and vans, keep this complex supply chain running. The shipping and logistics market remains vital for global trade, moving raw materials, consumer goods, machinery, and time-sensitive products 24/7 across more than 200 countries.

Key Findings

DRIVER: Strong growth in global e-commerce volumes, exceeding 150 billion parcels shipped worldwide in 2023, continues to fuel demand for integrated shipping and logistics solutions.

COUNTRY/REGION: Asia-Pacific leads global throughput, handling more than 60% of total containerized cargo, with China alone managing over 250 million TEUs in 2023.

SEGMENT: Freight forwarding remains the largest segment, managing over 70% of total international trade volumes by coordinating sea, air, and land cargo movements.

Shipping and Logistics Market Trends

The shipping and logistics market is undergoing rapid transformation as global trade rebounds and consumer expectations for fast, reliable deliveries increase. In 2023, global sea freight volumes exceeded 11 billion metric tons, up from 10.7 billion metric tons in 2022, while air freight carried nearly 60 million metric tons of high-value cargo. E-commerce has emerged as a dominant trend, with parcel delivery volumes climbing 18% year-over-year in major economies such as the US, China, and Germany. Same-day and next-day delivery services now cover over 65% of urban populations in developed markets. Automation and digitalization are reshaping operations, with over 30% of warehouses worldwide implementing automated picking and packing solutions to boost efficiency. The rise of smart ports is another key trend: in 2024, more than 50 ports globally are expected to deploy AI-based cargo handling and automated cranes to speed up container throughput. Sustainability is also top of mind, with global shipping companies ordering over 400 new LNG-powered vessels to cut carbon emissions. Cold chain logistics continues to expand, with demand for temperature-controlled transport rising by 12% in 2023 due to vaccines, biologics, and fresh produce exports. Last-mile delivery is becoming more tech-enabled, with electric delivery vans accounting for 10% of new fleet registrations in Europe and North America. Blockchain adoption for supply chain visibility grew by 25% among large freight forwarders last year, ensuring real-time cargo tracking. These trends show how shipping and logistics providers are reinventing operations to stay competitive and meet complex global trade needs.

Shipping and Logistics Market Dynamics

The dynamics of the shipping and logistics market highlight the powerful mix of drivers, restraints, opportunities, and challenges shaping global trade flows today. Rising parcel volumes, sustainability targets, port constraints, digital disruption, and new investment priorities are all influencing how companies manage freight forwarding, warehousing, cold chain, and last-mile delivery worldwide. These market dynamics explain the factors driving change across all segments of the global shipping and logistics ecosystem.

DRIVER

Expanding global e-commerce sales and cross-border parcel demand

The surge in online shopping has drastically changed shipping patterns worldwide. In 2023, more than 150 billion e-commerce parcels were shipped globally, putting immense pressure on last-mile delivery and warehousing capacity. Large retailers and brands increasingly outsource logistics to third-party operators to manage surging order volumes, driving growth in freight forwarding and fulfillment services. Air cargo demand for small, high-value packages rose by 6% last year, pushing operators to add dedicated freighters and optimize customs clearance processes.

RESTRAINT

Port congestion and infrastructure bottlenecks

Port congestion remains a major constraint, especially at major gateways like Los Angeles, Singapore, and Rotterdam, which handled over 120 million TEUs combined in 2023. Delays caused by labor shortages, weather disruptions, and aging terminal infrastructure slow down cargo movement, adding days or weeks to delivery times. According to recent data, global container dwell times rose to an average of 6.5 days in busy ports in 2023, up from 4.8 days in 2020. Limited rail and road connectivity at inland hubs further complicate timely freight transfers.

OPPORTUNITY

Investments in green shipping and digital platforms

There is significant opportunity in sustainable shipping solutions and supply chain digitalization. Over 400 LNG-fueled ships were ordered by major shipping lines in 2023 to meet stricter carbon emission targets. Ports are expanding shore power capabilities, with more than 60 ports now offering plug-in options for docked vessels. Digital freight platforms are another growth area, with online marketplaces matching shippers and carriers, cutting empty runs, and optimizing load factors. Global investment in digital freight solutions topped USD 5 billion in 2023 alone.

CHALLENGE

Rising fuel costs and supply chain disruptions

Volatile fuel prices remain a big challenge for shipping lines, with bunker fuel prices rising by over 30% in early 2023 due to geopolitical tensions and supply constraints. High operating costs squeeze margins for both ocean carriers and trucking companies. Additionally, unpredictable disruptions—such as strikes, extreme weather, and geopolitical risks—affect trade routes and shipment schedules. For example, unexpected labor strikes at European ports in 2023 affected more than 2 million TEUs of cargo movement.

Shipping and Logistics Market Segmentation

The shipping and logistics market is segmented by service type and end-user application. By type, freight forwarding, courier services, warehousing, cold chain logistics, and last-mile delivery all play critical roles in moving goods efficiently. By application, major sectors include e-commerce, manufacturing, retail, pharmaceuticals, and automotive logistics, each with distinct volume demands and service needs.

By Type

Freight Forwarding: Freight forwarding handles over 70% of international cargo, coordinating ocean, air, and road freight for global trade. In 2023, over 11 billion metric tons of goods were managed through forwarding services worldwide, ensuring customs compliance and multimodal transfers.
Courier Services: Global courier services delivered over 150 billion parcels last year, with top providers managing same-day and express shipments for online retailers. Cross-border express deliveries accounted for 20% of total parcel volumes in 2023.
Warehousing: Warehousing footprints covered more than 18 billion square feet worldwide in 2023. Automated storage and retrieval systems are deployed in over 30% of new warehouses, improving inventory turnover for retailers and manufacturers.
Cold Chain: The cold chain segment handled more than 620 million metric tons of perishable goods in 2023, including vaccines, fresh produce, and seafood. Temperature-controlled fleets expanded by 15% year-over-year to meet rising food safety standards.
Last-Mile Delivery: Last-mile delivery volumes exceeded 100 billion packages globally in 2023. Urban distribution centers and micro-fulfillment hubs now support faster deliveries, with electric delivery vans accounting for 10% of new last-mile fleets.

By Application

E-commerce: E-commerce generated more than 150 billion shipped parcels globally in 2023, representing the largest single driver of express courier and last-mile delivery volumes. Same-day delivery demand grew by 25% year-over-year.
Manufacturing: Manufacturing supply chains rely on freight forwarding and warehousing for bulk raw material imports and just-in-time deliveries. In 2023, more than 35% of freight forwarding contracts came from industrial and automotive clients.
Retail: Retail logistics handles seasonal inventory peaks, with over 20% of warehousing space globally dedicated to retail distribution. Quick replenishment cycles have increased urban warehouse demand by 18% in 2023.
Pharmaceuticals: Cold chain logistics for pharmaceuticals moved over 200 million vaccine doses in 2023 alone, with biologics and specialty medicines boosting the need for ultra-cold storage and temperature monitoring.
Automotive: Automotive logistics shipped more than 95 million new vehicles and thousands of spare parts globally in 2023. High-value components demand secure, time-sensitive freight forwarding and warehousing services.

Regional Outlook for the Shipping and Logistics Market

The regional outlook of the shipping and logistics market explains how major trade regions perform, expand, and adapt to changing demand. It covers North America’s booming parcel volumes and fulfillment hubs, Europe’s advanced ports and rail freight corridors, Asia-Pacific’s dominance in container throughput and smart ports, and the Middle East & Africa’s growing investments in infrastructure and free trade zones. Each region’s unique performance helps shape the future of global cargo movement.

North America

North America remains a logistics powerhouse, handling over 2 billion metric tons of cargo annually through major ports like Los Angeles, Long Beach, and New York. In 2023, the US alone processed over 50 million TEUs, with cross-border trucking managing over 10 million cross-border trips with Canada and Mexico. E-commerce parcel volumes in North America crossed 25 billion packages last year.

Europe

Europe’s shipping and logistics market is driven by trade hubs such as Rotterdam, Hamburg, and Antwerp, which collectively processed over 40 million TEUs in 2023. Rail freight handled more than 500 billion ton-kilometers of cargo within the EU, while road transport accounted for over 70% of inland freight volumes. Cold chain logistics grew by 10% due to pharmaceutical exports.

Asia-Pacific

Asia-Pacific leads global container throughput, with Chinese ports alone processing over 250 million TEUs in 2023. Singapore and Hong Kong remain top transshipment hubs, moving over 80 million TEUs combined. Japan and South Korea are investing in smart port technology and green shipping corridors, with regional e-commerce driving over 60 billion parcel deliveries last year.

Middle East & Africa

The Middle East & Africa region is expanding its logistics footprint with major ports like Jebel Ali and Port Said. In 2023, Middle East ports handled over 50 million TEUs, while Africa saw container volumes grow by 6% year-over-year. Infrastructure projects such as rail links and free trade zones are boosting trade connectivity.

List of Top Shipping and Logistics Companies

Maersk (Denmark)
MSC (Switzerland)
CMA CGM (France)
COSCO Shipping (China)
Hapag-Lloyd (Germany)
Evergreen Marine (Taiwan)
ONE (Japan)
Yang Ming (Taiwan)
ZIM (Israel)
Wan Hai Lines (Taiwan)

Maersk: Maersk operates over 700 container vessels, handling more than 12 million TEUs annually. The company manages integrated logistics services across 130 countries with over 80,000 employees.

MSC: MSC controls a fleet of over 730 vessels, transporting more than 13 million TEUs yearly. The company expanded its cold chain division in 2023, adding 50,000 new reefer containers for temperature-sensitive goods.

Investment Analysis and Opportunities

Investment in the shipping and logistics market is growing steadily as companies upgrade fleets, modernize ports, and expand digital capabilities. In 2023, over 400 new container ships were ordered globally to boost capacity and meet new environmental standards. Major ports like Rotterdam and Singapore committed more than USD 5 billion each to automation and green port infrastructure upgrades. North American operators invested heavily in warehouse expansions, adding over 150 million square feet of new fulfillment space in the US and Canada alone in 2023 to handle e-commerce peaks. The cold chain segment attracted significant funding as demand for temperature-controlled transport rose 12% last year. Over 50 new cold storage facilities are under construction in Europe and Asia-Pacific to meet growing vaccine and perishable food shipments. Sustainability is also driving investment; more than 200 shipping companies signed green shipping pledges in 2023 to adopt alternative fuels and reduce carbon emissions by upgrading older fleets with LNG, biofuels, and hybrid propulsion systems. Digital freight platforms and supply chain visibility tools are attracting venture capital, with more than USD 3 billion raised by startups developing AI-powered route optimization and blockchain-based cargo tracking in 2023. The last-mile delivery segment remains a hotspot for investment too, with global parcel locker installations growing by 20% and new electric van fleets added by major couriers to meet urban sustainability targets. In emerging markets, public-private partnerships are funding port expansions and inland rail corridors to strengthen trade links. By 2024, over 15 new free trade zones are expected to open across Africa and Southeast Asia, boosting logistics investment and regional employment. These ongoing investments signal robust opportunities for operators and investors seeking growth in fleet upgrades, sustainability tech, and digital platforms to manage increasingly complex global trade.

New Product Development

New product development in the shipping and logistics market is focused on sustainability, digital tools, and automation. In 2023, more than 400 new container vessels with hybrid or LNG propulsion were added to global fleets to cut emissions by up to 20% per voyage. Maersk and other top carriers unveiled carbon-neutral shipping services, offering customers the option to book zero-emission container slots on specific routes. Smart port technology is advancing too: over 50 ports installed automated cranes, AI yard management, and IoT sensors for real-time container tracking. In warehousing, robotics adoption accelerated with more than 30% of new large distribution centers in North America using automated guided vehicles (AGVs) and robotic arms for picking and packing. Cold chain operators introduced ultra-low temperature reefer containers to handle new mRNA vaccines and specialty biologics. Last-mile innovation continues at pace: major couriers deployed over 10,000 new electric vans globally in 2023 and launched drone pilot programs for rural deliveries, with test flights in Europe and Asia. Blockchain-based supply chain platforms were developed by multiple logistics tech firms to boost cargo visibility and reduce paperwork. On the customer side, digital booking and self-service freight apps are gaining traction, with over 20% of small businesses booking cross-border shipments through digital-only platforms in 2023. Packaging innovations include reusable containers for parcel deliveries, with trial programs in Germany and the UK aiming to cut waste by 15%. Smart pallets equipped with tracking sensors are being rolled out to monitor perishable shipments in real time. As global trade evolves, these new products and services highlight how operators are embracing technology and sustainability to stay competitive while meeting changing customer expectations for speed, transparency, and green shipping options.

Five Recent Developments

In 2023, Maersk ordered 10 new methanol-powered container ships to support its net-zero carbon goals.
MSC expanded its reefer fleet by adding 50,000 new refrigerated containers to meet rising cold chain demand.
COSCO Shipping launched a smart port initiative in Shanghai in 2024, deploying AI cranes to boost container handling efficiency by 30%.
CMA CGM introduced blockchain-based e-documents for global cargo, cutting paperwork processing time by 40%.
Hapag-Lloyd announced the rollout of a new digital customer booking platform in early 2024 to simplify freight booking for small shippers.

Report Coverage of Shipping and Logistics Market

The shipping and logistics market report provides comprehensive coverage of global cargo flows, infrastructure trends, fleet expansions, sustainability transitions, and digital technology adoption from 2023 to 2024 and beyond. It tracks detailed data on freight volumes, showing how over 12 billion metric tons of goods move annually through sea, air, rail, and road networks worldwide. Container throughput exceeding 800 million TEUs illustrates the critical role of major hubs like Shanghai, Singapore, Rotterdam, and Los Angeles in managing global trade. The report explains how segments such as freight forwarding handle over 70% of total international trade volumes, while last-mile delivery now moves more than 150 billion parcels yearly, driven by surging e-commerce. Detailed regional coverage highlights Asia-Pacific’s leadership with over 60% of containerized cargo, Europe’s strength in rail and cold chain capacity, North America’s booming e-commerce logistics and warehouse expansion, and the Middle East & Africa’s growing investment in port and corridor upgrades. The report profiles leading shipping companies like Maersk and MSC, who together deploy over 1,400 container vessels and manage millions of TEUs each year. It analyzes recent investments in green shipping, including more than 400 LNG and hybrid vessels ordered in 2023, plus smart port upgrades and AI yard management to speed up container handling. New product development is examined, showcasing robotics in warehouses, blockchain in documentation, and the expansion of electric and autonomous last-mile delivery vehicles. Recent developments confirm the industry’s focus on sustainability, speed, and efficiency. The report also includes segmentation by type—freight forwarding, courier services, warehousing, cold chain, and last-mile delivery—and by application areas like e-commerce, manufacturing, retail, pharmaceuticals, and automotive supply chains. Through facts and figures, it equips stakeholders with essential insights into capacity upgrades, sustainability initiatives, and evolving customer demands, helping operators plan for resilient, tech-enabled, and environmentally responsible global trade networks.