The marine freight transportation industry’s revenue is expected to reach $411.6 billion by 2017, according to Luctinel’s “Top 5 Global Marine Freight Transportation Service Companies: Performance, Strategies and Competitive Analysis” report.
The management consulting and market research firm found the Top 5 companies in the market were A.P. Moller-Maersk, Nippon Yusen Kabushiki Kaisha, Kuehne + Nagel, Mitsui O.S.K. Lines and Kawasaki Kisen Kaisha. The report showed that the Top 3 and Top 5 companies accounted for approximately 15.1 percent and 18.7 percent, respectively, of the market, dominated by the Asia-Pacific region.
Lucintel also found that significant gains in manufacturing and retail sectors, improving liquidity and the expansion of new regional trade hubs have affected the market dynamics significantly.