PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1570631
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1570631
Ocean Freight Forwarding Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
The Global Ocean Freight Forwarding Market was valued at USD 75.4 billion in 2023 and is projected to grow at over 4% CAGR from 2024 to 2032. The worldwide trade and commerce expansion is driving a heightened demand for efficient logistics solutions. As businesses expand their international operations, the need for dependable and cost-effective shipping services intensifies. This increase in international transactions demands sophisticated freight forwarding capabilities to navigate the intricacies of cross-border shipping, customs clearance, and timely deliveries.
In June 2024, Kuehne+Nagel commenced construction on a state-of-the-art e-commerce fulfillment center in Dubai. Located in the dedicated e-commerce district of EZDubai in Dubai South, the facility boasts a strategic position near Al Maktoum International Airport and is connected to Jebel Ali Port via a bonded logistics corridor. This establishment aims to bolster local commerce by providing clients with efficient logistical solutions and customs processing exemptions in the bonded corridors.
Digital freight platforms are also revolutionizing logistics with features like real-time tracking, streamlined bookings, and automated documentation. These advancements boost transparency, cut administrative costs, and enhance operational efficiency. With technological progress, the incorporation of AI and machine learning is fine-tuning route optimization, demand forecasting, and cargo management, spearheading innovations in global shipping solutions.
The overall industry is divided into type, services, end user, and region.
The market segments include full container load (FCL), less-than container load (LCL), and others. The full container load segment held a dominant market share of over 53% share in 2023. The rising inclination towards FCL shipping is streamlining logistics operations. Businesses are gravitating towards FCL for its advantages like lower per-unit shipping costs and diminished cargo damage risks. This transition not only accelerates transit times but also ensures more predictable scheduling, making FCL the go-to choice for substantial shipments and bolstering overall supply chain efficiency.
Services in the ocean freight forwarding market encompass packaging and labeling, transportation and warehousing, among others. The transportation and warehousing segment captured roughly 57% share in 2023. Technological advancements in transportation and warehousing are markedly boosting logistics efficiency. Innovations like automated warehousing, real-time tracking, and optimized route planning are enhancing inventory management and shortening transit times.
Asia Pacific led the global ocean freight forwarding market with a substantial share of approximately 35% in 2023. The region's logistics activities are surging, fueled by a growing manufacturing base and rising consumer demand. Investments in port infrastructure, tech upgrades, and enhanced connectivity are amplifying efficiency and capacity. This momentum is further propelled by increasing intra-regional trade and the strategic significance of major shipping routes, nurturing a robust supply chain landscape.
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
- 1.3 Forecast model
- 1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market definitions
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Supplier landscape
- 3.2.1 Transportation equipment provider
- 3.2.2 Technology provider
- 3.2.3 Logistics and third-party vendors
- 3.2.4 Infrastructure providers
- 3.2.5 End users
- 3.3 Profit margin analysis
- 3.4 Technology and innovation landscape
- 3.5 Patent analysis
- 3.6 Key news and initiatives
- 3.7 Regulatory landscape
- 3.8 Impact forces
- 3.8.1 Growth drivers
- 3.8.1.1 Global trade expansion and increased cross-border commerce
- 3.8.1.2 Rising outsourcing of logistics by manufacturing companies
- 3.8.1.3 Emergence of new trade routes and markets
- 3.8.1.4 Cost efficient for bulk and heavy shipments
- 3.8.2 Industry pitfalls and challenges
- 3.8.2.1 Regulatory challenges and trade barriers
- 3.8.2.2 Environmental concerns and sustainability issues
- 3.8.1 Growth drivers
- 3.9 Growth potential analysis
- 3.10 Porter's analysis
- 3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates and Forecast, By Type, 2021 - 2032 ($Bn, 000' tons)
- 5.1 Key trends
- 5.2 Full container load (FCL)
- 5.3 Less-than container load (LCL)
- 5.4 Others
Chapter 6 Market Estimates and Forecast, By Services, 2021 - 2032 ($Bn)
- 6.1 Key trends
- 6.2 Packaging and labelling
- 6.3 Transportation and warehousing
- 6.4 Others
Chapter 7 Market Estimates and Forecast, By End Use, 2021 - 2032 ($Bn, 000' tons)
- 7.1 Key trends
- 7.2 Agriculture
- 7.3 Automotive
- 7.4 Electronics
- 7.5 Beverages
- 7.6 Others
Chapter 8 Market Estimates and Forecast, By Region, 2021 - 2032 ($Bn, 000' tons)
- 8.1 Key trends
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Spain
- 8.3.5 Italy
- 8.3.6 Russia
- 8.3.7 Nordics
- 8.3.8 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 ANZ
- 8.4.6 Southeast Asia
- 8.4.7 Rest of Asia Pacific
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
- 8.5.4 Rest of Latin America
- 8.6 MEA
- 8.6.1 UAE
- 8.6.2 South Africa
- 8.6.3 Saudi Arabia
- 8.6.4 Rest of MEA
Chapter 9 Company Profiles
- 9.1 Bollore Logistics
- 9.2 C.H. Robinson Worldwide
- 9.3 Ceva Logistics
- 9.4 CTS International Logistics
- 9.5 DB Schenker
- 9.6 DHL Supply Chain and Global Forwarding
- 9.7 DSV A/S
- 9.8 Expeditors International
- 9.9 Fr. Meyer's Sohn
- 9.10 GEODIS
- 9.11 Hellmann Worldwide Logistics
- 9.12 Kerry Logistics
- 9.13 Kintetsu World Express
- 9.14 Kuehne + Nagel
- 9.15 LX Pantos
- 9.16 Nippon Express
- 9.17 OOCL Logistics
- 9.18 Sinotrans
- 9.19 Worldwide Logistics Group
- 9.20 Yusen Logistics
