The global sea freight forwarding market size reached US$ 81.0 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 105.2 Billion by 2032, exhibiting a growth rate (CAGR) of 2.9% during 2023-2032. The growing number of global and domestic trade activities, increasing demand for safe and fast delivery cargo, and rising cross-border e-commerce activities represent some of the key factors driving the market.
Sea freight forwarding comprises the transportation of a large number of goods by sea through cargo ships from the point of origin to a destination. It is transported through various containers, such as full container load (FCL) and less-than container load (LCL). It is cost-effective and safe to transport hazardous cargo as compared to other modes of transportation. It is environment-friendly and consumes less fuel as carbon emission is very low in this transportation. It can easily transport a heavy load over long distances and has fewer restrictions on transporting goods. It assists in improving security and simplifying sea freight logistics planning, execution, and management. Besides this, it aids in maintaining transparency throughout each stage of a shipment and increasing the profitability of a business. As a result, sea freight forwarding is employed in the automotive, electronics, agriculture, healthcare, textile, and manufacturing industries around the world.
2. What is the expected growth rate of the global sea freight forwarding market during 2024-2032?
3. What are the key factors driving the global sea freight forwarding market?
4. What has been the impact of COVID-19 on the global sea freight forwarding market?
5. What is the breakup of the global sea freight forwarding market based on the type?
6. What is the breakup of the global sea freight forwarding market based on the services?
7. What is the breakup of the global sea freight forwarding market based on vertical?
8. What are the key regions in the global sea freight forwarding market?
9. Who are the key players/companies in the global sea freight forwarding market?
Sea freight forwarding comprises the transportation of a large number of goods by sea through cargo ships from the point of origin to a destination. It is transported through various containers, such as full container load (FCL) and less-than container load (LCL). It is cost-effective and safe to transport hazardous cargo as compared to other modes of transportation. It is environment-friendly and consumes less fuel as carbon emission is very low in this transportation. It can easily transport a heavy load over long distances and has fewer restrictions on transporting goods. It assists in improving security and simplifying sea freight logistics planning, execution, and management. Besides this, it aids in maintaining transparency throughout each stage of a shipment and increasing the profitability of a business. As a result, sea freight forwarding is employed in the automotive, electronics, agriculture, healthcare, textile, and manufacturing industries around the world.
Sea Freight Forwarding Market Trends:
At present, the increasing number of global and domestic trade activities across the globe represents one of the major factors impelling the growth of the market. In addition, the rising demand for sea freight forwarding due to the lesser restrictions as compared to other modes of transportation is propelling the growth of the market. Besides this, the increasing demand for low-cost cargo transportation methods is contributing to the growth of the market. Moreover, the rising demand for sea freight forwarding due to the increasing awareness about reducing the carbon footprint across the globe is offering lucrative growth opportunities to industry investors. Apart from this, the growing adoption of sea freight forwarding due to the rising demand for safe and fast delivery cargo around the world is offering a positive market outlook. Additionally, the increasing cross-border e-commerce due to the popularity of buying numerous goods online is strengthening the growth of the market. In line with this, the rising integration of artificial intelligence (AI), a global positioning system (GPS), and the internet of things (IoT) in the sea freight supply chain for tracking shipments in real-time is supporting the growth of the market. Furthermore, the growing demand for the transportation of cargo through seaways due to the rising air freight charges worldwide is positively influencing the market.Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the global sea freight forwarding market report, along with forecasts at the global, regional, and country level from 2024-2032. The report has categorized the market based on type, services, and vertical.Type Insights:
- Full Container Load (FCL)
- Less-than Container Load (LCL)
- Others
Services Insights:
- Packaging and Labeling
- Documentation and PO Management
- Charter Services
- Transportation and Warehousing
- Others
Vertical Insights:
- Retail and FMCG
- Manufacturing
- Consumer Appliances
- Healthcare
- Textile
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global sea freight forwarding market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Agility Logistics, Bolloré Logistcs, C.H. Robinson Worldwide Inc., CEVA Logistics, Deutsche Bahn AG, Deutsche Post AG, Expeditors International, Geodis, Hellmann Worldwide Logistics SE & Co. KG, Kerry Logistics Network Limited, Kuehne + Nagel, Sinotrans Limited, United Parcel Service Inc., Yusen Logistics Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. What was the size of the global sea freight forwarding market in 2023?2. What is the expected growth rate of the global sea freight forwarding market during 2024-2032?
3. What are the key factors driving the global sea freight forwarding market?
4. What has been the impact of COVID-19 on the global sea freight forwarding market?
5. What is the breakup of the global sea freight forwarding market based on the type?
6. What is the breakup of the global sea freight forwarding market based on the services?
7. What is the breakup of the global sea freight forwarding market based on vertical?
8. What are the key regions in the global sea freight forwarding market?
9. Who are the key players/companies in the global sea freight forwarding market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Sea Freight Forwarding Market
6 Market Breakup by Type
7 Market Breakup by Services
8 Market Breakup by Vertical
9 Market Breakup by Region
10 Drivers, Restraints, and Opportunities
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Agility Logistics
- Bolloré Logistcs
- C.H. Robinson Worldwide Inc.
- CEVA Logistics
- Deutsche Bahn AG
- Deutsche Post AG
- Expeditors International
- Geodis
- Hellmann Worldwide Logistics SE & Co. KG
- Kerry Logistics Network Limited
- Kuehne + Nagel
- Sinotrans Limited
- United Parcel Service Inc.
- Yusen Logistics Co. Ltd.
Methodology
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 146 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 81 Billion |
| Forecasted Market Value ( USD | $ 105.2 Billion |
| Compound Annual Growth Rate | 2.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 14 |
