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Seafreight Forwarding Market by Service and Geography - Forecast and Analysis 2020-2024

  • Published: Aug 2020
  • Pages: 120
  • SKU: IRTNTR44732
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The seafreight forwarding market share is expected to increase by USD 10.78 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 3%.

This seafreight forwarding market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers seafreight forwarding market segmentation by service (FCL and LCL) and geography (Europe, APAC, North America, South America, and MEA). The seafreight forwarding market report also offers information on several market vendors, including Agility Public Warehousing Company KSCP, C.H. Robinson Worldwide Inc., CEVA Logistics AG, CJ Logistics Corp., Deutsche Bahn AG, Deutsche Post AG, DSV Panalpina A/S, Hellmann Worldwide Logistics SE & Co. KG, Kuehne + Nagel International AG, and United Parcel Service Inc. among others.

What will the Seafreight Forwarding Market Size be During the Forecast Period?

Seafreight Forwarding Market Size

Download the Free Report Sample to Unlock the Seafreight Forwarding Market Size for the Forecast Period and Other Important Statistics

 

Seafreight Forwarding Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing global cross-border e-commerce market driving the LCL volume is notably driving the seafreight forwarding market growth, although factors such as consolidation in the shipping industry leading to high freight cost and operational difficulties may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the seafreight forwarding industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Seafreight Forwarding Market Driver

One of the key factors driving growth in the seafreight forwarding market is the growing global cross-border e-commerce market driving the LCL volume. The growing Internet penetration and rising purchasing power parity (PPP) across all the regions are the key contributing factors for the growth of the global cross-border e-commerce market. The US and China are the key contributing countries for the global cross-border e-commerce market. This growth in cross-border e-commerce trade is expected to influence the volume of seafreight worldwide positively. The LCL seafreight shipments are propelled by the rise in the number of small package shipments. Vendors are also planning to expand their service portfolio to cross-border e-commerce, which will further increase the volume of LCL. Sea transportation is emerging as a preferred mode for e-commerce due to the developments in infrastructure and services designed specifically for the e-commerce industry.

Key Seafreight Forwarding Market Trend

The introduction of blockchain in the shipping industry is a seafreight forwarding market trend that is expected to have a positive impact in the coming years. A blockchain is a digitalized and distributed transaction ledger, which involves identical copies being maintained on multiple computer systems controlled by different entities. Basically, a blockchain system uses a chain of cryptographically protected records to expose the details of transactions to all entities and distribute records across the network of contributing nodes or computer systems, thereby eliminating the need for a central authority to maintain records. This makes processes more efficient and cuts costs. In maritime transportation, blockchain technology is still at a nascent stage. The shipping lines are constantly implementing blockchain technology to streamline their shipping operations. However, the adoption of blockchain technology in the shipping industry on a large scale is uncertain due to the factors such as interoperability, the requirement for device management to ensure effective incorporation of technology, and the cost burden.

Key Seafreight Forwarding Market Challenge

The consolidation in the shipping industry leading to high freight cost and operational difficulties will be a major challenge for the seafreight forwarding market during the forecast period. The shift toward consolidation in the shipping industry is expected to continue during the forecast period, making its structure oligopolistic. The shipping industry had faced a severe financial crisis after the recession of 2008 due to low demand, non-utilization of vessels, and other economic factors. This resulted in reduced freight rates and idle or scrapped ships. Therefore, the major shipping companies have come together to form alliances, thereby cutting down the excess capacity of vessels as well as lowering the cost of scrapping the ships lying idle in ports. These consolidations and alliances in the global shipping industry will lead to concentration in the market. Shipping companies such as A.P. Moller-Maersk, MSC, COSCO OOCL, CMA CGM, and Hapag Lloyd accounted for more than 50% of the global market in 2016. Such consolidations in the shipping industry will lead to an oligopolistic market, resulting in fewer options for freight forwarders to select from, which in turn, will lead to an increase in freight rates. In addition, these consolidations are expected to cause operational difficulties as the freight forwarders now must deal with more than one container line company for one shipment.

This seafreight forwarding market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global seafreight forwarding market as a part of the global marine market.  Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the seafreight forwarding market during the forecast period.

Who are the Major Seafreight Forwarding Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Agility Public Warehousing Company KSCP
  • C.H. Robinson Worldwide Inc.
  • CEVA Logistics AG
  • CJ Logistics Corp.
  • Deutsche Bahn AG
  • Deutsche Post AG
  • DSV Panalpina A/S
  • Hellmann Worldwide Logistics SE & Co. KG
  • Kuehne + Nagel International AG
  • United Parcel Service Inc.

 

This statistical study of the seafreight forwarding market encompasses successful business strategies deployed by the key vendors. The seafreight forwarding market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Elementis Plc - The company offers talc for various end-user industries, including plastics, paints and coatings, food and pharma, and paper, among others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The seafreight forwarding market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Seafreight Forwarding Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the seafreight forwarding market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the marine market includes the following core components:

  • Inputs
  • Maritime chain of transportation
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Seafreight Forwarding Market?

Seafreight Forwarding Market Market segmentation by region

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40% of the market's growth will originate from Europe during the forecast period. Germany and UK are the key markets for seafreight forwarding market in Europe. Market growth in this region will be faster than the growth of the market in other regions.

The growing trade volume on the European trade routes, increasing container port throughput, and the rising number of FTAs in the region will facilitate the seafreight forwarding market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Service Segments in the Seafreight Forwarding Market?

Seafreight Forwarding Market Segmentation

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The seafreight forwarding market share growth by the FCL segment will be significant during the forecast period. The FCL segment occupied the largest share in the global seafreight forwarding market in 2019 and is expected to grow steadily till 2024 FCL is a concept in which containers are loaded and packed at origin by the shipper, then shipped via sea transportation and opened at the destination. It entails high cargo security and minimum cargo handling. The increasing development of ports and terminal infrastructure is expected to support the rising demand for containerized cargo. The global ports and terminal operations market is expected to cross $35 billion during the forecast period, growing at a CAGR of around 3%-3.5%.

This report provides an accurate prediction of the contribution of all the segments to the growth of the seafreight forwarding market size and actionable market insights on post COVID-19 impact on each segment.

 

Seafreight Forwarding Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2020-2024

$ 10.78 billion

Market structure

Fragmented

YoY growth (%)

1.92

Regional analysis

Europe, APAC, North America, South America, and MEA

Performing market contribution

Europe at 40%

Key consumer countries

China, Germany, US, UK, Canada, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Agility Public Warehousing Company KSCP, C.H. Robinson Worldwide Inc., CEVA Logistics AG, CJ Logistics Corp., Deutsche Bahn AG, Deutsche Post AG, DSV Panalpina A/S, Hellmann Worldwide Logistics SE & Co. KG, Kuehne + Nagel International AG, and United Parcel Service Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Seafreight Forwarding Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive seafreight forwarding market growth during the next five years
  • Precise estimation of the seafreight forwarding market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the seafreight forwarding industry across Europe, APAC, North America, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of seafreight forwarding market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Service

  • Market segments
  • Comparison by Service
  • FCL - Market size and forecast 2019-2024
  • LCL - Market size and forecast 2019-2024
  • Market opportunity by Service

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Agility Public Warehousing Company KSCP
  • C.H. Robinson Worldwide Inc.
  • CEVA Logistics AG
  • CJ Logistics Corp.
  • Deutsche Bahn AG
  • Deutsche Post AG
  • DSV Panalpina A/S
  • Hellmann Worldwide Logistics SE & Co. KG
  • Kuehne + Nagel International AG
  • United Parcel Service Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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Seafreight Forwarding market growth will increase by $10.78 billion during 2019-2024.
The seafreight forwarding market is expected to grow at a CAGR of 2.66% during 2019-2024.
Technavio has segmented the seafreight forwarding market by service (FCL and LCL) and geographic (Europe, APAC, North America, South America, and MEA).
Agility Public Warehousing Company KSCP, C.H. Robinson Worldwide Inc., CEVA Logistics AG, CJ Logistics Corp., Deutsche Bahn AG, Deutsche Post AG, DSV Panalpina A/S, Hellmann Worldwide Logistics SE & Co. KG, Kuehne + Nagel International AG, United Parcel Service Inc. are a few of the key vendors in the seafreight forwarding market.
Europe will register the highest growth rate of 40.45% among the other regions. Therefore, the seafreight forwarding market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the seafreight forwarding market growth are:
  • Growing global cross-border e-commerce market driving the LCL volume
The seafreight forwarding market vendors should focus on grabbing business opportunities from the fcl segment as it accounted for the largest market share in the base year.
  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?
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  • Data on revenue-generating market segments
  • Details on the market shares of various regions
  • Five-force market analysis

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