Global Green Shipping Market Insights Forecasts to 2033

• The Market Size is Growing at a 7.9% CAGR during the forecast period of 2023–2033.
• The Worldwide Green Shipping Market Size is expected to Reach a Significant Share by 2033
• North America Market is expected to grow the fastest during the forecast period

The Global Green Shipping Market Size is expected to Reach a Significant Share by 2033, Growing at a 7.9% CAGR during the forecast period 2023-2033.

Market Overview

Green shipping focuses on environmentally friendly transportation, warehousing, and distribution to minimize environmental impact. It entails environmentally friendly practices like route optimization, electric vehicle use, and effective waste management. This approach strikes a balance between economic efficiency and environmental responsibility, which benefits businesses all over the world. Green shipping includes recycling, waste disposal, and reverse distribution, all of which contribute to lower CO2 emissions, lower costs, and improved supply chain efficiency. Companies use green shipping systems to cut congestion, pollution, and transportation costs. The infrastructure serves the entire green shipping system, including land, air, and water transportation. Shipping companies use digitization and environmental considerations to optimize routes, reduce fuel consumption, and improve operational efficiency, all of which contribute to a more sustainable and responsible supply chain ecosystem.

Report Coverage

This research report categorizes the market for the global green shipping market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global green shipping market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global green shipping market.

Driving Factors

Developing new technologies that are aligned with common business requirements in the current scenario would significantly contribute to the market's growth during the predicted timeframe. The rise of digitization in global shipping is increasing the size of the global green shipping market. The increased use of artificial intelligence (AI) in the global logistics industry is expected to expand the future market for green logistics. Furthermore, corporations, particularly those with large transportation volumes, implement climate-protection measures such as limiting carbon emissions into the atmosphere. This will boost market demand over the forecast period. Since electric vehicles (EVs) have the potential to emit less pollution and motor noise than traditional internal combustion vehicles (ICVs), their use in urban logistics has increased in recent years. This shift toward electric vehicles is consistent with shipping' increasing emphasis on environmentally friendly practices. Furthermore, shipping firms have taken aggressive steps to reduce their environmental impact as businesses prioritize sustainable practices.

Restraining Factors

The high cost of green procurement, combined with a lack of infrastructure, is expected to slow the growth of the green shipping market during the forecast period. Measuring and reporting on the amount of carbon emitted into the environment takes time and reduces demand in the global green shipping market.

Market Segmentation

The global green shipping market share is classified into service type, mode of operation, and end use

• The distribution segment is expected to hold the largest revenue share of the global green shipping market over the forecast period.   

Based on the service type, the global green shipping market is categorized into value added services, warehousing, distribution, transportation, reverse logistics, and packaging. Among these, the distribution segment is dominating the market with the largest revenue share of the global green shipping market over the forecast period. This segment accounting for nearly three-fifths of global green shipping market revenue, is expected to maintain its leadership position throughout the forecast period, as businesses across various industries recognize the importance of reducing carbon emissions and minimizing their environmental impact.

• The storage segment is witnessing significant CAGR growth of the global green shipping market over the forecast period.   

Based on the mode of operation, the global green shipping market is categorized into storage, seaway distribution, roadways distribution, airways distribution, and railways distribution. Among these, the storage segment is witnessing significant CAGR growth of the global green shipping market over the forecast period. This segment contributes more than one-third of global green shipping market revenue and is expected to maintain its leadership status throughout the forecast period, as there is an increasing focus on sustainable infrastructure development, leading businesses to implement eco-friendly storage solutions such as energy-efficient systems and sustainable building materials.

• The manufacturing segment is expected to hold the largest share of the global green shipping market during the forecast period.   

Based on the end use, the global green shipping market is categorized into healthcare, manufacturing, automotive, banking and financial services, retail and e-commerce, and others. Among these, the manufacturing segment is expected to hold the largest share of the global green shipping market during the forecast period. Accounting for nearly one-third of global green shipping market revenue, it is expected to maintain its leadership position throughout the forecast period due to increased demand for procuring raw materials and delivering them to manufacturers for production. This segment has the largest share due to increased multimodal transportation adoption and the growing influence of e-commerce platforms.

Regional Segment Analysis of the Global Green Shipping Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global green shipping market over the predicted timeframe.

Asia Pacific is projected to hold the largest share of the global green shipping market over the forecast period. The region's market is expanding as growing nations, such as India, transition to the fourth industrial revolution and embrace new digital technologies. Furthermore, unified end-to-end logistics activities in countries like India will drive regional market growth over the forecast period. The government imposes penalties for failing to meet environmental standards. The global green shipping industry is being driven by an increase in the use of electric vehicles in this region, which has zero environmental emissions.

The North America market is expected to grow at the fastest CAGR growth during the forecast period. Several factors are currently driving growth in the North American shipping market. The rising demand for foreign goods in emerging economies like Indonesia, Thailand, and India, particularly those imported from North American countries, is one of the major forces driving the growth of the North American shipping market. As a result of increasing trade volumes in the countries across the region, the demand for goods in the North American region experienced a sharp rise.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global green shipping market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• FedEx Corporation
• DSV
• Agility Public Warehousing Company K.S.C.P. and Subsidiaries
• GEODIS
• Deutsche Post DHL Group.
• YUSEN LOGISTICS CO., LTD.
• Bollor SE
• CEVA Logistics
• XPO Logistics, Inc.
• United Parcel Service of America, Inc.
• ARK India
• Go Green Logistics
• Gosselin Logistics
• Green Logistics LLC
• States Logistics Services, Inc
• The Green Group
• Westerman Multimodal Logistics
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In January 2024, DSV created and implemented an industry-first multimodal shipping strategy that employs sustainable aviation fuels (SAFs) to increase supply chain agility while lowering environmental impact. DSV and Schneider Electric successfully deployed two unique multimodal shipping bridges—from Singapore to France and Shanghai to France—to reduce Scope 3 carbon emissions from air freight.

• In June 2023, the division of Deutsche Post AG which specializes in air and ocean freight, DHL Global Forwarding, and IAGIAG Cargo in Sustainable Aviation Fuel (SAF), formed a strategic partnership. DHL has agreed to purchase 11.5 million liters of SAF as part of this agreement, which will help reduce Scope 3 transport emissions in 2023.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global green shipping market based on the below-mentioned segments: 

Global Green Shipping Market, By Service Type

• Value Added Services
• Warehousing
• Distribution
• Transportation
• Reverse Logistics
• Packaging

Global Green Shipping Market, By Mode of Operation

• Storage
• Seaways Distribution
• Roadways Distribution
• Airways Distribution
• Railways Distribution

Global Green Shipping Market, By End Use

• Healthcare
• Manufacturing
• Automotive
• Banking and financial services
• Retail and E-Commerce
• Others

Global Green Shipping Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa