Global Customs Brokerage Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Customs Brokerage Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Customs brokerage is a service provided by customs brokers to facilitate shipment and delivery of goods across geographical borders, whether they go by air, ocean, or ground. Brokers can be private individuals or business entities, such as partnerships, associations or corporations. To provide brokerage services, they need a license from relevant state bodies.

Market Overview:

The latest research study on the global Customs Brokerage market finds that the global Customs Brokerage market reached a value of USD 23769.81 million in 2022. It’s expected that the market will achieve USD 36776.06 million by 2028, exhibiting a CAGR of 7.54% during the forecast period.

Since the beginning of the outbreak, the coronavirus has been a direct cause of delays and non-delivery of goods and services. Factory shutdowns and low capacity, government bans and restrictions on imports and exports, and limitations of transportation and logistics companies have caused delays and disruptions to global supply chains. As a result, companies from various industries have reduced their cross-border operations, which may reduce the global cross-border trade market size, thereby reducing the demand for Customs Brokerage. However, with the development of time, the improvement of the epidemic situation and the change of government prevention and control measures, factories have gradually resumed production, and the logistics industry has gradually begun to resume operations. But the COVID-19 pandemic means freight requirements and regulations are constantly changing. Customs Brokerage stays informed of changing and relevant developments, delivering and receiving goods in compliance with regulations. This leads to a possible increase in the market demand for Customs Brokerage.

Frequently changing trade policy

International shipping of goods can be a tricky process, and if a company is not aware of the latest trade policies in any country, it is easy for a company to get stuck. When it comes to international trade, each country abides by its own laws or regulations. In addition, most of these laws or policies may change frequently, for example, tariffs and license requirements. And for companies doing import and export trade, keeping abreast of these changes may require regular research and monitoring, which can be time-consuming and impractical.

Qualified Customs Brokerage companies can help companies step into business to easily obtain the latest trade policy information. With extensive knowledge of process changes in different countries, Customs Brokerage has a comprehensive understanding of changes affecting duties and taxes. This helps customers to correctly estimate shipping costs and time costs. In general, frequently changing trade policies increase the difficulty and cost of handling import and export business by companies themselves, and increase the demand for Customs Brokerage services, which is beneficial to the development of the industry.

An increasingly complex international political and trade environment

For the Customs Brokerage industry, changes in political factors have an important impact on companies in the industry and directly affect the company's profitability. For example, on February 24, 2022, a military conflict broke out between Russia and Ukraine, and the United States, the United Kingdom and the European Union all imposed economic sanctions on Russia. The measure also includes a ban on trade between the EU and the two rebel-held areas. European and American countries may restrict the export of core high-tech goods to Russia. For example, the United States will ban companies from selling semiconductor microchips, which are used in everything from cars to smartphones, to Russia. Western countries may refuse to buy oil and gas from big Russian energy giants. The conflict between Russia and Ukraine will inevitably have a significant impact on the foreign trade between the two countries. Overall, the increasingly complex international political and trade environment is a challenge for the Customs Brokerage industry.

Region Overview:

Geographically, Europe held the largest market share -- 32.87% in 2021.

Company Overview:

Expeditors International is one of the major players operating in the Customs Brokerage market, holding a share of 8.11% in 2022.

Expeditors

Expeditors is a global logistics company headquartered in Seattle, Washington. Expeditors are focused on the increasingly sophisticated needs of international trade through customized solutions and seamless, integrated information systems. The services include air and ocean freight consolidation and forwarding, vendor consolidation, customs clearance, cargo insurance, distribution and other value-added logistics services.

United Parcel Service

United Parcel Service, Inc. operates as a logistics and package delivery company that provides supply chain management services. Its logistics services include transportation, distribution, contract logistics, ground freight, ocean freight, air freight, customs brokerage, insurance, and financing.

Segmentation Overview:

Among different product types, Sea segment is anticipated to contribute the largest market share in 2027.

Air

Differentiate according to the way of transporting goods. It mainly refers to the transportation of goods by means of aircraft.

Rail

Differentiate according to the way of transporting goods. It mainly refers to the transportation of goods by rail.

Sea

Differentiate according to the way of transporting goods. It mainly refers to the transportation of goods by ship.

Application Overview:

The market's largest segment by application is the segment Manufacturing, with a market share of 29.7% in 2021.

Mainly according to the different downstream customer industries, it can be divided into healthcare, manufacturing, telecommunications, government and utilities. For example, in the healthcare sector, customs brokers provide businesses with cross-border shipping and distribution services.

Key Companies in the global Customs Brokerage market covered in Chapter 3:

DSV
Livingston International
Kuehne Nagel
CJ Logistics
United Parcel Service
DHL
FedEx
API Logistics
C.H. Robinson Worldwide
Nippon Express
Expeditors International
A.N. Deringer
DB Schenker
GEODIS
CEVA Logistics

In Chapter 4 and Chapter 14.2, on the basis of types, the Customs Brokerage market from 2018 to 2029 is primarily split into:

Air
Rail
Sea

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Customs Brokerage market from 2018 to 2029 covers:

Healthcare
Manufacturing
Telecommunication
Government and Public Utilities
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)