Seafreight Forwarding

Seafreight Forwarding

Global Ocean Freight Forwarding Market to Reach $83.5 Billion by 2027

In the changed post COVID-19 business landscape, the global market for Ocean Freight Forwarding estimated at US$68.2 Billion in the year 2020, is projected to reach a revised size of US$83.5 Billion by 2027, growing at aCAGR of 2.9% over the period 2020-2027. Less-Than Container Load, one of the segments analyzed in the report, is projected to record 3.4% CAGR and reach US$50 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Full Container Load segment is readjusted to a revised 2.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $18.7 Billion, While China is Forecast to Grow at 5% CAGR

The Ocean Freight Forwarding market in the U.S. is estimated at US$18.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$15.8 Billion by the year 2027 trailing a CAGR of 5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.6% and 2.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.1% CAGR.

Select Competitors (Total 41 Featured) -

• C.H. Robinson Worldwide, Inc.
• CEVA Logistics
• DB Schenker
• Deutsche Post AG (DHL Group)
• DSV A/S
• Kuehne + Nagel, Inc.
• Nippon Express Co., Ltd.

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