Global RORO Shipping Market Research Report 2024(Status and Outlook)

Global RORO Shipping Market Research Report 2024(Status and Outlook)

Report Overview

RoRo is the acronym for the expression “Roll-on, Roll-off” and it describes the way a vessel carries wheeled cargo. RoRo ships are designed to carry cars, agricultural tractors, mining and road machinery, trucks, semi-trailer trucks and trailers, buses, industrial vehicles, lorries, etc. Unlike LO-LO (lift-on/lit-off) vessels that use cranes to load/unload the cargo, these kinds of ships have a built-in ramp that allows the equipment to roll on and off the vessel.

Whereas ferries, cruise ferries and barges can be used to move vehicles across rivers and other short distances through the sea, the term “RoRo” is commonly used to call large deep-sea vessels used to ship vehicles. The biggest ones is able to withstand up to 10 tons of pressure per square meter, which makes them perfect for heavy cargo shipping. Apart from vehicles, they can carry high-and-heavy cargo, break bulk, special products and the heavy-duty transport of steel and paper.

The global RORO Shipping market size is projected to reach US$ 23266.91 Million by 2028, from US$ 15637.56 million in 2021, at a CAGR of 3.73% during 2022-2028. Compared to traditional ships, RoRo vessels offer a number of advantages, the main ones being flexibility, operational speed and overall time saving. In the upcoming years, the usage of RoRo vessels (and RoPax ships) both on domestic and international routes will significantly increase to the growth of global trade and to lower the traffic on roads, especially in Europe.

On the other hand, the continuous growth of automobile sales, the increasing demand for electric vehicle transportation, and the advancement of technology in the ro-ro shipping industry are all driving the expansion of the RORO shipping market. The development of the ro-ro shipping industry is closely related to the development of the global automobile trade. Continued growth in vehicle sales will continue to drive the growth of the ro-ro service market. At the same time, incentives, regulations, infrastructure and improved consumer confidence boosted sales of new energy vehicles. Plus battery pack costs have been falling for years - now rising due to higher commodity prices (nickel, cobalt, lithium, aluminum). All these have promoted the growth of the new energy vehicle market. Since the second half of 2020, driven by the export of China's new energy vehicles and the influence of the international auto industry supply chain, the international ro-ro market has seen strong demand. Ro-ro ships are developing rapidly, and there are more than 2,000 ships in the world so far. Ro-ro ships are developing towards higher speed, larger loading capacity and better performance. Ro-ro ships are developing towards higher speed, larger loading capacity and better performance. This will also become an important driving force for the development of the RORO shipping market.

At the same time, the RORO shipping market is also facing the reduction of long-term ocean freight rates, the impact of the Omicron epidemic on the turnover efficiency of ro-ro ships, the global energy transition and related decarbonization goals that increase the logistics cost of the shipping industry, and the lack of automobiles. The core problem is still difficult to alleviate the influence of other factors.

Noteworthy industry trends include: rising freight rates for ro-ro ships, China’s electric vehicle exports are expected to maintain continuous growth, the shipping market’s freight volume may continue to decline, the shipping industry is accelerating its green transformation, and the economic impact of environmentally friendly ships is expanding, etc.

In today's world, as shipping technology advances, larger, efficient and environmentally sustainable vehicle carriers are being built. Ro-ro ships are developing rapidly, and there are more than 2,000 ships in the world so far. Ro-ro ships are developing towards higher speed, larger loading capacity and better performance. Ro-ro ships are generally powered by diesel engines, with a speed of about 20 knots, and the fastest can exceed 25 knots. Future ro-ro ships can adopt new power plants and be faster. Ro-ro ships are loaded with containers. In addition to loading containers, future ro-ro ships can also carry various cargoes such as oil and ore, and their uses will be more extensive.

Segment by Type, the RORO Shipping can be split into Used Car Shipping, New Car Shipping, etc. Currently, the New Car Shipping segment dominates the entire market and has already captured 89.58% of the market in 2021. During the forecast period of 2022-2028, we speculate that the market size of the New Car Shipping segment will still grow at a higher rate, reaching a CAGR of 3.95%, faster than the 1.68% of the Used Car Shipping segment.

According to the application scenarios, the RORO Shipping can be divided into two main departments: Domestic Shipping and International Shipping. Due to the division of labor in the global industrial chain, the differences in automobile manufacturing centers and automobile consumption regions, the international automobile trade is very active. This drives the development of the International Shipping market scale. The global automobile shipping trade is mainly between East Asia, Europe and North America. China, Japan, South Korea, Western Europe, and North America are all global automobile manufacturing centers, as well as automobile export centers and automobile consumption centers, so the sea freight trade between them is active. The automobile manufacturing industry in other regions is not strong, but the automobile consumption is relatively large, so East Asia, Europe, and North America export automobiles to these regions. In 2021, the market size of the International Shipping sector has accounted for 82.08% of the market share.

On basis of geography, the RORO Shipping market is segmented into North America, Europe, Asia-Pacific, South America, Middle East and Africa, etc. The Asia-Pacific market has become the most important source of income for the RORO shipping market and has already occupied about 40% of the market share. This is closely related to the developed shipping, import and export trade, and fast-growing economy in the region. During the forecast period, we estimate the market size of Middle East and Africa to expand at the highest CAGR of 5.44%.

Currently, the RORO shipping market is less concentrated. According to our calculations, the values of CR5 and HHI used to measure market concentration indicators in this market are 58.51% and 7.67% respectively, showing a market that is not concentrated. However, it is predicted that in 2022, the market concentration will increase. Key players in the market include Wallenius Wilhelmsen (WW), NYK Line, Grimaldi Group, CMA CGM, MOL Group, Hoegh Autoliners, K Line RORO Services Ltd., Anji Cosco Shipping RoRo Carriers (Shanghai) Co.,Ltd., China Merchants ro-ro company, Roro Shipping Company S.A, DFDS Seaways, Sallaum Lines, Stena RoRo, CLdN RoRo SA, American Roll-On Roll-Off Carrier (ARC), Cargomax International.

This report provides a deep insight into the global RORO Shipping market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global RORO Shipping Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the RORO Shipping market in any manner.

Global RORO Shipping Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company

Wallenius Wilhelmsen (WW)

NYK Line

Grimaldi Group

CMA CGM

MOL Group

Hoegh Autoliners

K Line RORO Services Ltd.

Anji Cosco Shipping RoRo Carriers

China Merchants ro-ro company

Roro Shipping Company S.A

DFDS Seaways

Sallaum Lines

Stena RoRo

CLdN RoRo SA

American Roll-On Roll-Off Carrier

Cargomax International

Market Segmentation (by Type)

Used Car Shipping

New Car Shipping

Market Segmentation (by Application)

Domestic Shipping

International Shipping

Geographic Segmentation

North America (USA, Canada, Mexico)

Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

South America (Brazil, Argentina, Columbia, Rest of South America)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

Industry drivers, restraints, and opportunities covered in the study

Neutral perspective on the market performance

Recent industry trends and developments

Competitive landscape & strategies of key players

Potential & niche segments and regions exhibiting promising growth covered

Historical, current, and projected market size, in terms of value

In-depth analysis of the RORO Shipping Market

Overview of the regional outlook of the RORO Shipping Market:

Key Reasons to Buy this Report:

Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

This enables you to anticipate market changes to remain ahead of your competitors

You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents

The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly

Provision of market value (USD Billion) data for each segment and sub-segment

Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled

Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players

The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis

Provides insight into the market through Value Chain

Market dynamics scenario, along with growth opportunities of the market in the years to come

6-month post-sales analyst support

Chapter Outline

Chapter 1 mainly introduces the statistical scope of the report, market division standards, and market research methods.

Chapter 2 is an executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the RORO Shipping Market and its likely evolution in the short to mid-term, and long term.

Chapter 3 makes a detailed analysis of the market's competitive landscape of the market and provides the market share, capacity, output, price, latest development plan, merger, and acquisition information of the main manufacturers in the market.

Chapter 4 is the analysis of the whole market industrial chain, including the upstream and downstream of the industry, as well as Porter's five forces analysis.

Chapter 5 introduces the latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 6 provides the analysis of various market segments according to product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 7 provides the analysis of various market segments according to application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 8 provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.

Chapter 9 introduces the basic situation of the main companies in the market in detail, including product sales revenue, sales volume, price, gross profit margin, market share, product introduction, recent development, etc.

Chapter 10 provides a quantitative analysis of the market size and development potential of each region in the next five years.

Chapter 11 provides a quantitative analysis of the market size and development potential of each market segment (product type and application) in the next five years.

Chapter 12 is the main points and conclusions of the report.