Global Sea Freight Forwarding Market Size study & Forecast, by Service (Full Container Load, Less-than Container Load, and Others), and Application (Agricultural, Automotive, Beverage, Electronic, and Others) and Regional Analysis, 2022-2029

Global Sea Freight Forwarding Market Size study & Forecast, by Service (Full Container Load, Less-than Container Load, and Others), and Application (Agricultural, Automotive, Beverage, Electronic, and Others) and Regional Analysis, 2022-2029

Global Sea Freight Forwarding Market is valued approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Sea Freight Forwarding refers to freight forwarding services that specializes in transportation of goods through sea route. Moreover, freight forwarding companies offer full container load, and Less than Load consolidation services. Full Container Load is used for transportation of bulk cargo over long distance. Whereas less than container load is used when the cargo size is small. Freight forwarding through Sea route offers several benefits including it is Cost-effective comparatively to other methods, is easy to manoeuvre heavy and large products with ease and it is inexpensive over long distances. Growing expansion of cross border e-commerce industry and increasing demand for cargo transportation through sea route are key factors driving the market growth.

The growing expansion of cross border e-commerce industry is contributing towards the growth of the Global Sea Freight Forwarding market. For instance – in 2019, the cross-border e-commerce industry was valued at USD 579billion, and as per projections the market is projected to grow to USD 2.25 trillion by 2026. Additionally, as per Statista – in 2020, the total quantity of loaded freight in international maritime trade was estimated at 10645 million metric tons, which further increased to 10985 million metric tons in 2021. Also, increasing number of cross border free trade agreements and growing industrialization in developing economies would create lucrative growth prospectus for the market over the forecast period. However, the high Cost associated with ship maintenance and operations and rise in shipment delay due to weather conditions stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Sea Freight Forwarding Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading freight forwarding service providers and growth in international trade in post covid era in the region. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising number of free trade agreements from government authorities and increasing penetration of leading market players in the region.

Major market player included in this report are:
DHL Global Forwarding
Kuehne + Nagel International AG
DB Schenker
Sinotrans Limited
Expeditors International
Nippon Express Co. Ltd
CEVA Logistics
UPS Supply Chain Solutions
Kerry Logistics
Bollore Logistics

Recent Developments in the Market:
 In October 2022, DHL Global Forwarding launched fast-track sea freight clearance services at the Eastern Gateway Bonded Zone (EGBZ) at the King Fahad International Airport in Dammam, this new service has been launched by the company to speed up processing of LCL Sea Freight Services.

Global Sea Freight Forwarding Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Service, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Service
Full Container Load
Less-than Container Load
Others
By Application
Agricultural
Automotive
Beverage
Electronic
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned
DHL Global Forwarding
Kuehne + Nagel International AG
DB Schenker
Sinotrans Limited
Expeditors International
Nippon Express Co. Ltd
CEVA Logistics
UPS Supply Chain Solutions
Kerry Logistics
Bollore Logistics

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