Ocean Freight Forwarding Market by Type, Service, End-User

Description

List of Tables

[189 Pages Report] The Ocean Freight Forwarding Market size was estimated at USD 75.64 billion in 2023 and expected to reach USD 79.22 billion in 2024, at a CAGR 5.05% to reach USD 106.86 billion by 2030.

Ocean freight forwarding encompasses the range of services provided by logistics companies to facilitate international trade via sea transportation. These services include the booking of cargo space on ships, cargo consolidation, warehousing, cargo insurance, documentation, and customs clearance. Ocean freight forwarding is an essential component of global trade, facilitating the transport of large volumes of goods across continents. Increases in international trade agreements and economic cooperation between countries contribute to the growth of the market. The rising trend of online shopping has led to increased demand for international shipping services, subsequently driving the growth of the market. Expanding investments in port facilities and shipping technologies that improve handling capabilities are driving the market growth. The high cost of navigating the complex web of international trade laws hampers the growth of the ocean freight forwarding market. The growing development of sustainable shipping practices to reduce the carbon footprint of maritime transport and platforms for better tracking and transparency across the entire supply chain is expected to create opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 75.64 billion
Estimated Year [2024]	USD 79.22 billion
Forecast Year [2030]	USD 106.86 billion
CAGR (%)	5.05%

Type: Growing usage of less than container load offers a greater degree of flexibility and is more accessible for smaller businesses

Full container load, commonly referred to as FCL, is a type of ocean freight forwarding where a shipper has exclusive rights to use the entire container for their cargo. This option is ideal for shippers who have enough goods to fill an entire container, as it offers more control over the cargo, potentially improved transit times, and often a better per-unit shipping rate. Shippers prefer FCL when they have concerns about the safety of their cargo, as less handling of goods typically translates into a lower risk of damage or loss. Less than container load, or LCL, is a type of ocean freight forwarding that is preferred for smaller cargo loads that do not require the full space of a container. Shippers share container space with others, which is cost-effective for smaller shipments. LCL allows for flexible shipping schedules and frequent sailings and is often chosen by shippers who require inventory flexibility and do not wish to wait to accumulate a full container's worth of product before shipping.

Service: Rising potential of charter services for high-volume shipments and non-standard cargo size

In the realm of ocean freight, charter services involve the rental of a vessel or a part thereof to transport large quantities of goods. Clients with high-volume shipments or non-standard cargo size or type often prefer chartering services due to the flexibility and dedicated operations it offers. Correct documentation & purchase order (PO) management is critical to ensuring legality and efficiency in ocean freight. It includes handling all necessary documents, such as bills of lading, invoices, and letters of credit. Packaging & labeling services involve ensuring that cargo is securely packaged and correctly labeled for shipment. This is essential for protecting goods, ensuring compliance with international shipping regulations, and facilitating smooth customs clearance. Core to the logistics industry, transportation and warehousing services include the physical movement of goods via ocean, as well as storage solutions before and after shipping.

End-User: Significant usage of ocean freight forwarding in the manufacturing sector as they seek bulk shipping options

The consumer appliances sector requires safe and timely transportation of goods, as these items are often fragile and high in value. Companies favor freight forwarders that can offer reliable services, which minimize the risk of damage during transit. The healthcare industry relies on the efficient transportation of medical supplies, pharmaceuticals, and equipment. These goods often need to be transported under controlled temperatures and within tight regulations. Manufacturing spans a variety of products, and the freight needs can be quite diverse. The primary requirement is the cost-efficient transportation of raw materials and finished goods. The oil & gas sector demands specialized logistics services due to the hazardous nature and size of the cargo. Efficiency and safety are the topmost priorities in this field. Retail & FMCG (Fast-Moving Consumer Goods) necessitate quick and efficient transportation due to the high turnover rates and often perishable nature of the products. The textile industry has a global footprint requiring the movement of raw materials, fabric, and clothing. Cost-effectiveness and the preservation of product quality during transit are essential.

Regional Insights

In the Americas, the demand for ocean freight forwarding is driven by both imports and exports of goods, inclduing consumer electronics, automotive parts, and commodities. The customer purchasing behavior shows a penchant for reliable and timely deliveries, often with an emphasis on advanced tracking features and cost efficiency. Major ports such as Los Angeles, Long Beach, and New York play a critical role in handling cargo volumes. The EU region exhibits diverse consumer needs influenced by strict regulations, environmental considerations, and a focus on supply chain resilience. Market players emphasize efficiency, integrated logistics services, and digitalization in response to customer expectations. The Middle East has been rapidly growing as a logistics hub due to its strategic location and investment in port infrastructure, including the Jebel Ali Port in Dubai. Africa's ocean freight forwarding market is emerging, with infrastructure developments and increased trade. The customer base is cost-sensitive, requiring economical options without compromising on the transit times. Asia-Pacific, as a major global exporter, contributes significantly to the ocean freight forwarding industry. The Asia-Pacific market demands high efficiency, fast shipping times, and robust logistics networks, reflected in the capabilities of ports such as Shanghai and Shenzhen. There is a trend toward a more digitalized and automated supply chain management approach.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Ocean Freight Forwarding Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Ocean Freight Forwarding Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Ocean Freight Forwarding Market, highlighting leading vendors and their innovative profiles. These include A.P. Moller - Maersk, AFM LOGISTICS PVT. LTD., Agility Logistics, Asiana USA, Bollore Logistics, C.H. Robinson Worldwide, Inc., CEVA Logistics SA, China Merchants Group Limited, Crane Worldwide Logistics LLC, DB Schenker, Deutsche Post AG, DSV A/S, Expeditors International of Washington, Inc., Freightos Limited, GEODIS, Hellmann Worldwide Logistics SE & Co. KG, Kerry Logistics Network Limited, Kuehne+Nagel, LOGISTEED, Ltd., LX International Corp, Nippon Express CO., LTD., Ocean-Air Freight Ltd, Sarvam Logistics, United Parcel Service, Inc., and YUSEN LOGISTICS CO., LTD.

Market Segmentation & Coverage

This research report categorizes the Ocean Freight Forwarding Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Full Container Load
- Less than Container Load

Service
- Charter Services
- Documentation & PO Management
- Packaging & Labeling
- Transportation & Warehousing

End-User
- Consumer Appliances
- Healthcare
- Manufacturing
- Oil & Gas
- Retail & FMCG
- Textile

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Ocean Freight Forwarding Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Ocean Freight Forwarding Market?

3. What are the technology trends and regulatory frameworks in the Ocean Freight Forwarding Market?

4. What is the market share of the leading vendors in the Ocean Freight Forwarding Market?

5. Which modes and strategic moves are suitable for entering the Ocean Freight Forwarding Market?

Product Code: MRR-69324464D04B

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Expansion of offshore oil & gas industries across economies
  - 5.1.1.2. Growing maritime trades and demand for safe & fast cargo delivery
  - 5.1.1.3. Increasing number of ports and commercial sea vessels
- 5.1.2. Restraints
  - 5.1.2.1. Surging crude oil prices and rise in shipment costs
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of marine batteries for naval vessels
  - 5.1.3.2. Rapid surge in cross-border e-commerce activities
- 5.1.4. Challenges
  - 5.1.4.1. Environmental issues associated with ship maintenance activities
5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing usage of less than container load offers a greater degree of flexibility and is more accessible for smaller businesses
- 5.2.2. Service: Rising potential of charter services for high-volume shipments and non-standard cargo size
- 5.2.3. End-User: Significant usage of ocean freight forwarding in the manufacturing sector as they seek bulk shipping options
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Ocean Freight Forwarding Market, by Type

6.1. Introduction
6.2. Full Container Load
6.3. Less than Container Load

7. Ocean Freight Forwarding Market, by Service

7.1. Introduction
7.2. Charter Services
7.3. Documentation & PO Management
7.4. Packaging & Labeling
7.5. Transportation & Warehousing

8. Ocean Freight Forwarding Market, by End-User

8.1. Introduction
8.2. Consumer Appliances
8.3. Healthcare
8.4. Manufacturing
8.5. Oil & Gas
8.6. Retail & FMCG
8.7. Textile

9. Americas Ocean Freight Forwarding Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Ocean Freight Forwarding Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Ocean Freight Forwarding Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Yamato Transport to Launch Quick Small-parcel Ocean Freight Forwarding Service for Cross-border EC Operators
- 12.3.2. Freight Forwarder Europa Air & Sea Announces India's Entry
- 12.3.3. Nippon Express buys European logistics firm Cargo-Partner
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio