Market Overview:
The global ocean freight forwarding market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for ocean freight forwarding services from various end-use industries, such as agricultural, automotive, beverage, electronic and others. In addition, the growing trade activities across different regions are also contributing to the growth of the global ocean freight forwarding market. Based on type, the global ocean freight forwarding market is segmented into LCL (less than container load), FCL (full container load) and others. Among these segments, LCL is expected to witness highest growth during the forecast period owing to its low cost as compared to FCL services. Based on application, the global ocean freight forwarding market is segmented into agricultural goods transportation; automotive goods transportation; beverage goods transportation; electronic goods transportation and other cargo transportations. Among these applications segments, automotive good transportations held largest share in 2017 and it is projected that this trend would continue during forecast period as well).
Product Definition:
Ocean freight forwarding is the process of organizing shipments of goods to be transported by sea. Freight forwarders work with shipping companies to get the best rates and organize the logistics of getting goods from Point A to Point B. Ocean freight forwarding is important because it allows businesses to transport large quantities of goods at a lower cost than if they were shipped by air.
LCL:
LCL (Less than a Container load) is freight that is transported in less quantity than the standard 20-foot container. The term LCL generally refers to shipments of 10 or fewer containers, although there are some exceptions to this rule. A common example of when the term LCL is used would be when a shipper needs to deliver goods in a single trip without unloading and reloading the ship.
FCL:
Favorable Cost and Logistics (FCL) is a service that allows shippers to outsource the cost and complexity of shipping containers from the point of origin to their destination. FCL provides various benefits such as reduced transportation costs, on-demand container services, door-to-door delivery with no storage charges, flexible rates based on volume or weight and lastly it's ability to combine multiple modes of transportations in one seamless flow.
Application Insights:
The market is segmented by application into automotive, beverage, electronic, agricultural and other shipments. The automotive segment accounted for the largest share in 2015 owing to the rising importance of this shipment type in cross-border trade between countries. Automotive parts are usually heavy or bulky and require special care while handling during transport across long distances. Owing to these factors ocean freight forwarders have been focusing on providing reliable services for automotive shipments within a region as well as across regions.
Electronic goods such as mobile phones, laptops etc., are increasingly being shipped from Asia Pacific to North America and Europe due to high demand for low price products among consumers there.
Regional Analysis:
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. The growth of this region can be attributed to increasing trade activities across emerging economies, such as China and India. In addition, rising investments in infrastructure development by various governments are anticipated to boost ocean freight forwarder business in Asia Pacific region.
The Middle East & Africa is also likely to witness significant growth over the next eight years owing to rapid economic development coupled with increased government spending on infrastructural developments in countries such as Saudi Arabia and UAE. Moreover, growing oil production along with steady demand from other industries will drive MRO shipments across this region during the forecast period.
Growth Factors:
- Increasing globalization and trade: The global economy is becoming increasingly interconnected, with goods and services moving between countries more than ever before. This has led to a surge in demand for ocean freight forwarding services as businesses seek to take advantage of opportunities around the world.
- Rising consumer demand in developing markets: A growing middle class in countries such as China and India is fueling increased demand for consumer goods, which is driving up the need for ocean freight forwarding services.
- Advances in technology: The development of new technologies (such as blockchain) is making it easier and faster to move goods around the world, which is contributing to the growth of the ocean freight forwarding market.
- Growing e-commerce industry: The growth of online shopping has led to a surge in demand for express delivery services, including those offered by ocean freight forwarders. This segment of the market is expected to grow rapidly over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Ocean Freight Forwarding Market Research Report
By Type
LCL, FCL, Others, Ocean Freight Forwardin
By Application
Agricultural, Automotive, Beverage, Electronic, Others
By Companies
Kuehne + Nagel, DHL Group, DB Schenker Logistics, GEODIS, Panalpina, DSV, Bolloré Logistics, Expeditors, Nippon Express, CEVA Logistics, Pantos Logistics, Agility Logistics, Hellmann, Damco, KWE, Hitachi Transport, Sankyu, Kerry Logistics, Logwin, C.H.Robinson, Yusen Logistics, Ocean Freight Forwardin
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
242
Number of Tables & Figures
170
Customization Available
Yes, the report can be customized as per your need.
Global Ocean Freight Forwarding Market Report Segments:
The global Ocean Freight Forwarding market is segmented on the basis of:
Types
LCL, FCL, Others, Ocean Freight Forwardin
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Agricultural, Automotive, Beverage, Electronic, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Kuehne + Nagel
- DHL Group
- DB Schenker Logistics
- GEODIS
- Panalpina
- DSV
- Bolloré Logistics
- Expeditors
- Nippon Express
- CEVA Logistics
- Pantos Logistics
- Agility Logistics
- Hellmann
- Damco
- KWE
- Hitachi Transport
- Sankyu
- Kerry Logistics
- Logwin
- C.H.Robinson
- Yusen Logistics
- Ocean Freight Forwardin
Highlights of The Ocean Freight Forwarding Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- LCL
- FCL
- Others
- Ocean Freight Forwardin
- By Application:
- Agricultural
- Automotive
- Beverage
- Electronic
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Ocean Freight Forwarding Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Ocean freight forwarding is a transportation service that helps move goods between ports around the world. It can be used to ship items such as cargo, furniture, and vehicles. Ocean freight forwarding services can also be used to transport people and packages.
Some of the major players in the ocean freight forwarding market are Kuehne + Nagel, DHL Group, DB Schenker Logistics, GEODIS, Panalpina, DSV, BollorƒÂ© Logistics, Expeditors, Nippon Express, CEVA Logistics, Pantos Logistics, Agility Logistics, Hellmann, Damco, KWE, Hitachi Transport, Sankyu, Kerry Logistics, Logwin, C.H.Robinson, Yusen Logistics, Ocean Freight Forwardin.
The ocean freight forwarding market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Ocean Freight Forwarding Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Ocean Freight Forwarding Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Ocean Freight Forwarding Market - Supply Chain
4.5. Global Ocean Freight Forwarding Market Forecast
4.5.1. Ocean Freight Forwarding Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Ocean Freight Forwarding Market Size (000 Units) and Y-o-Y Growth
4.5.3. Ocean Freight Forwarding Market Absolute $ Opportunity
5. Global Ocean Freight Forwarding Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Ocean Freight Forwarding Market Size and Volume Forecast by Type
5.3.1. LCL
5.3.2. FCL
5.3.3. Others
5.3.4. Ocean Freight Forwardin
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Ocean Freight Forwarding Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Ocean Freight Forwarding Market Size and Volume Forecast by Application
6.3.1. Agricultural
6.3.2. Automotive
6.3.3. Beverage
6.3.4. Electronic
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Ocean Freight Forwarding Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Ocean Freight Forwarding Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Ocean Freight Forwarding Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Ocean Freight Forwarding Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Ocean Freight Forwarding Demand Share Forecast, 2019-2026
9. North America Ocean Freight Forwarding Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Ocean Freight Forwarding Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Ocean Freight Forwarding Market Size and Volume Forecast by Application
9.4.1. Agricultural
9.4.2. Automotive
9.4.3. Beverage
9.4.4. Electronic
9.4.5. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Ocean Freight Forwarding Market Size and Volume Forecast by Type
9.7.1. LCL
9.7.2. FCL
9.7.3. Others
9.7.4. Ocean Freight Forwardin
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Ocean Freight Forwarding Demand Share Forecast, 2019-2026
10. Latin America Ocean Freight Forwarding Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Ocean Freight Forwarding Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Ocean Freight Forwarding Market Size and Volume Forecast by Application
10.4.1. Agricultural
10.4.2. Automotive
10.4.3. Beverage
10.4.4. Electronic
10.4.5. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Ocean Freight Forwarding Market Size and Volume Forecast by Type
10.7.1. LCL
10.7.2. FCL
10.7.3. Others
10.7.4. Ocean Freight Forwardin
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Ocean Freight Forwarding Demand Share Forecast, 2019-2026
11. Europe Ocean Freight Forwarding Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Ocean Freight Forwarding Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Ocean Freight Forwarding Market Size and Volume Forecast by Application
11.4.1. Agricultural
11.4.2. Automotive
11.4.3. Beverage
11.4.4. Electronic
11.4.5. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Ocean Freight Forwarding Market Size and Volume Forecast by Type
11.7.1. LCL
11.7.2. FCL
11.7.3. Others
11.7.4. Ocean Freight Forwardin
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Ocean Freight Forwarding Demand Share, 2019-2026
12. Asia Pacific Ocean Freight Forwarding Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Ocean Freight Forwarding Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Ocean Freight Forwarding Market Size and Volume Forecast by Application
12.4.1. Agricultural
12.4.2. Automotive
12.4.3. Beverage
12.4.4. Electronic
12.4.5. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Ocean Freight Forwarding Market Size and Volume Forecast by Type
12.7.1. LCL
12.7.2. FCL
12.7.3. Others
12.7.4. Ocean Freight Forwardin
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Ocean Freight Forwarding Demand Share, 2019-2026
13. Middle East & Africa Ocean Freight Forwarding Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Ocean Freight Forwarding Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Ocean Freight Forwarding Market Size and Volume Forecast by Application
13.4.1. Agricultural
13.4.2. Automotive
13.4.3. Beverage
13.4.4. Electronic
13.4.5. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Ocean Freight Forwarding Market Size and Volume Forecast by Type
13.7.1. LCL
13.7.2. FCL
13.7.3. Others
13.7.4. Ocean Freight Forwardin
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Ocean Freight Forwarding Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Ocean Freight Forwarding Market: Market Share Analysis
14.2. Ocean Freight Forwarding Distributors and Customers
14.3. Ocean Freight Forwarding Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Kuehne + Nagel
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. DHL Group
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. DB Schenker Logistics
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. GEODIS
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Panalpina
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. DSV
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Bolloré Logistics
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Expeditors
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Nippon Express
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. CEVA Logistics
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Pantos Logistics
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Agility Logistics
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Hellmann
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Damco
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. KWE
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Hitachi Transport
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Sankyu
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Kerry Logistics
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Logwin
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. C.H.Robinson
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
