$47.7bn
$X.Xbn
37,799
813
$X.Xbn
Ocean and coastal transportation companies, including freight transporters and cruise lines, have had a very turbulent five years. A rebound in the economy has been spelling excellent news for the cruise sector as more consumers are back on the sea for vacations, generating more revenue. But, price shocks and geopolitical issues have raised the expense of doing business for the ocean freight market, impacting their freights and revenue. So, industry revenue decreased at a CAGR of 0.5% to $46.5 billion by the end of 2024, despite a boost of 2.7% in 2024 alone.
Industry revenue has grown at a CAGR of 0.5 % over the past five years, to reach an estimated $47.7bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
AP Moller - Maersk Group | 9,183.1 | -119.4 | -1.3 | |
Hapag-Lloyd AG | 6,862.7 | -89.2 | -1.3 | |
MSC Mediterranean Shipping Company S.A. | 3,290.4 | -27.0 | -0.8 |
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Industry revenue is measured across several distinct product and services lines, including Deep-sea passenger transportation, Deep-sea freight transportation and Coastal and Great Lakes freight transportation. Deep-sea passenger transportation is the largest segment of the Ocean & Coastal Transportation in the US.
Deep-sea passenger transportation brings over half the industry's revenue
This industry provides deep-sea, coastal and Great Lakes water transportation, including using the St. Lawrence Seaway. It encompasses US-flagged and non-US-flagged vessels, though operators must primarily be US-based. Marine transportation services active on the St. Lawrence River are part of the Great Lakes Water Transportation System and, therefore, are included in this report. The industry also provides deep-sea passenger services like cruise ships.
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NAICS 48311 - Ocean & Coastal Transportation in the US
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Including values and annual change:
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Key data sources in the US include:
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The market size of the Ocean & Coastal Transportation in the US industry in United States is $47.7bn in 2024.
There are 813 businesses in the Ocean & Coastal Transportation in the US industry in United States, which has grown at a CAGR of 1.6 % between 2019 and 2024.
The market size of the Ocean & Coastal Transportation in the US industry in United States has been growing at a CAGR of 0.5 % between 2019 and 2024.
Over the next five years, the Ocean & Coastal Transportation in the US industry in United States is expected to grow.
The biggest companies operating in the Ocean & Coastal Transportation market in United States are AP Moller - Maersk Group, Hapag-Lloyd AG and MSC Mediterranean Shipping Company S.A.
Deep-sea water transportation and Coastal water transportation are part of the Ocean & Coastal Transportation in the US industry.
The company holding the most market share in United States is AP Moller - Maersk Group.
The level of competition is moderate and increasing in the Ocean & Coastal Transportation in the US industry in United States.