United States Customs Brokerage Market Report and Forecast 2024-2032

United States Customs Brokerage Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the United States customs brokerage market reached a value of USD 3.99 billion in 2023. Aided by the increasing need for expert navigation through customs procedures to facilitate seamless trade operations, the market is projected to further grow at a CAGR of 4.2% between 2024 and 2032 to reach a value of USD 5.81 billion by 2032.

Customs brokers are the unsung heroes of international trade, offering a range of services that include tariff classification, tax determination, and compliance with federal regulations. They act as authorised agents for importers and exporters, ensuring that goods move efficiently across borders while adhering to all legal and regulatory requirements.

The United States customs brokerage market growth is driven by several factors. The globalisation of supply chains has led to an increase in cross-border trade, necessitating expert services to manage the complexities of customs clearance. Additionally, the ever-changing landscape of trade agreements and regulations demands up-to-date knowledge and adaptability, which customs brokers provide.

E-commerce has also played a pivotal role in market expansion. The surge in online shopping has led to a dramatic increase in international parcel shipments, many of which require customs brokerage services to ensure compliance and timely delivery.

Technological advancements have further propelled the United States customs brokerage market demand. The integration of digital platforms and automation in customs brokerage processes has enhanced efficiency, accuracy, and customer satisfaction. These technologies facilitate real-time tracking, electronic filing, and data analytics, streamlining customs clearance and compliance.

The U.S. customs brokerage market is characterised by a competitive landscape, with players ranging from global logistics giants to specialised boutique firms. This competition fosters innovation, service diversification, and strategic partnerships, offering tailored solutions to meet the specific needs of businesses engaged in international trade.

According to the United States customs brokerage market analysis, regulatory compliance is at the core of customs brokerage services. Customs brokers must ensure adherence to a myriad of regulations, including those related to tariffs, trade agreements, and security measures. They play a crucial role in preventing the importation of prohibited goods and in facilitating lawful trade that supports economic growth.

The dynamic nature of trade policies and agreements requires customs brokers to be vigilant and proactive in updating their practices and advising their clients accordingly. This includes understanding the implications of trade disputes, tariffs, and changes in international trade agreements on clients' operations.

The United States customs brokerage market growth is further propelled by several promising trends and opportunities. The continued growth of e-commerce is expected to drive demand for brokerage services, particularly for small and medium-sized enterprises (SMEs) entering international markets. The expansion of free trade agreements and economic partnerships presents opportunities for customs brokers to offer specialised advisory services.

Market Segmentation

The market can be divided based on mode of transport, industry vertical, and region.

Market Breakup by Mode of Transport

• Sea
• Air
• Cross Border Land Transport

Market Breakup by Industry Vertical

• Healthcare
• Manufacturing
• Automotive
• Retail and Consumer Goods
• Others

Market Breakup by Region

• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States customs brokerage market. Some of the major players explored in the report by Expert Market Research are as follows:

• United Parcel Service, Inc.
• FedEx Corp.
• Deutsche Post AG
• Kuehne and Nagel International AG
• CMA CGM Group (CEVA)
• C.H. Powell Company
• Schenker AG
• C.H. Robinson Worldwide, Inc.
• Expeditors International of Washington, Inc.
• Livingston International Inc.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.