Seafreight Forwarding Market 2019
Seafreight forwarders, also called non-vessel operating common carriers, are the major intermediary agents deal with the arrangement of shipments for industries from manufacturers to the end-distribution points. They work on the basis of a long-term contracts with the shipping carriers for cargo movements. This lets them provide secure cargo transportation at affordable prices. As a supply chain expert, they offer services like documentation, commercial invoicing, packaging, warehousing, declaration of shipper’s export, distribution, and warehousing. Growing shipping activities is expected to trigger the growth of the global Seafreight Forwarding market.
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Listed Key Players
• Deutsche Post DHL Group
• Kuehne + Nagel
• DB Schenker
The market study report shows that during the forecast period, the global market for this will grow at 3.71 percent of the Compound Annual Growth Rate. The growing volume of international trade is a primary driver for this market. On the other side, it has been observed that the trade agreement between various countries has increased. So, this will also propel the growth of this market in the future. The increasing demand for low-cost shipping is also can be a market driving factor.
The increasing trade agreement across various international borders has increased the demand for cost-effective cargo shipping. International cargo transports through Air and Sea. While the airfreight is quite costly, most of the companies prefer to go with seafreight. The report also suggests that significant trends, such as integrated services also help the market to grow. This sector is facing tough competition from other players, which are affecting the growth of this market. However, the Seafreight Forwarding market is all set to grow as the key vendors are coming up with new strategies.
Market Segmentation of freight forwarding industry
The global market for Seafreight Forwarding is segmented on the basis of service type and regions. Based on the region, it is segmented into documentation, packaging, VAS- Value Added Services, and Transportation & warehousing. Among these, the packaging segment is expected to dominate this particular segment in the coming years. One of the important services offered by such companies is services for cargo packaging. They help in to understand how a particular cargo should be packaged to keep it safe during transportation. For example, liquid products are transported through particular types of flexitanks, having different layers of bladders. This segment will enjoy maximum market share.
Geographical Segmentation of forwarding industry
On the basis of geography, the worldwide market for Seafreight Forwarding is segmented into Europe, Asia Pacific, South America, the Middle East and Africa, and Latin America. Furthermore, the report also includes market analysis information of different countries’ markets. Some of the major countries are China, Japan, Korea, India, Germany, the United States, the United Kingdom, Italy, France, Russia, South Africa, GCC Countries, Brazil, Australia, New Zealand, and others. In terms of volume, the Asia Pacific market is enjoying maximum market share and will dominate the global market in the coming years. The region houses some major manufacturing hubs in India, China, and other Asian countries.
Market Updates of global freight forwarding
In October 2018, FedEx informed that it has acquired Manton Air-Sea Pty Ltd. Manton Air-Sea is an Australia-based logistics company and lading sea and air freight solution provider in Australia. With the acquisition, FedEx has successfully increased its forwarding capacity. The company is now planning to acquire some more logistics companies to expand its business.
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Table of Contents – Major key Points
PART 01: Executive Summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by service
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Market challenges
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