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

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

Non-vessel operating common carrier (NVOCC) Aggregator is defined as an agent or a company that organizes shipments of goods from the point of source to the destination port. AN NVOCC company does not own vessels. It arranges the transportation of goods for shippers by consolidating goods and arranging carriers for them.

Market Overview:

The latest research study on the global NVOCC Aggregator market finds that the global NVOCC Aggregator market reached a value of USD 144933.0 million in 2022. It’s expected that the market will achieve USD 116722.0 million by 2028, exhibiting a CAGR of -3.54% during the forecast period.

Influence of Regional Conflicts on the NVOCC Aggregator Industry

First, regional conflicts will affect the health of shipping routes. In conflict-prone areas, transportation and delivery are generally impossible, and the business operations of surrounding routes and other related areas are inevitably affected, with limited capacity, operational difficulties, and even the risk of loss of goods. For example, in the Russian-Ukrainian war, armed conflicts mainly occurred in Ukraine. Ports in Ukraine were closed, flights were cancelled, and inland transportation was suspended. At the same time, there were ships that were unable to leave the Black Sea due to mines and were stranded in Ukraine. For goods shipped to Russia and other affected regions, it is more likely that the goods cannot be shipped to Russia because of sanctions and embargoes imposed by European and American countries. Regional conflicts will firstly affect the business of both parties to the conflict, and secondly, the health of the relevant shipping routes.

In addition to the business itself, the Russian-Ukrainian war has driven inflation and higher energy prices. Inflation, gas shortages in Europe, rising oil prices and rising fuel prices are also consequences that the global shipping industry has to contend with.

NVOCC Aggregator Market Restraints and Challenges

The fluctuations in freight rates lead to financial distress among NVOCC aggregators. Container freight rates have been highly volatile due to fluctuations in global crude oil prices and uncertainty in the demand and the supply of containers for the shipping industry.

In 2021, container scarcity has become a major issue. When countries went into lockdown, their economic activities were restricted, including the number of workers in ports, depots, container freight stations (CFS), which drastically decreased. As a result, cargo/ customs handling and clearing times were significantly slowed. In addition, several small and medium-sized manufacturers in Asia, primarily China, have temporarily closed. With the uncertainty of the future, a huge number of containers came to a halt and became long-aging units at terminals and inland depots. This situation is hampering the NVOCC industry in two critical ways. Firstly, due to shortage of containers, the NVOCC firms cannot perform in the optimum manner, thereby generating a direct impact to the clients’ motive. Secondly, for limited container access, manufacturers have driven up the prices of new containers, and traders who sell used containers have already created a price bubble; this is a phenomenon that is o ccurring not only in Asia/Europe, but almost everywhere; as a result, cargo worthy containers that an NVOCC could easily buy in the US$800-US$1200 bracket before 2020 now cost US$2200-US$2800, and container leasing rates have also risen by 30% to 50%.

The increase in shipping costs and the decline in the turnover efficiency of the transportation supply chain are not conducive to the needs of downstream customers, which in turn brings challenges to the development of NVOCC Aggregator.

Region Overview:

From 2023-2028, Asia is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Kerry Apex Group, Expeditors International and C.H. Robinson with the revenue market share of 6.86%, 4.49% and 3.82% in 2021.

Kerry Apex is a very diversified global business portfolio. They provide a wide range of supply chain solutions, from integrated logistics, international freight forwarding (air, sea, road, rail and multimodal transport), industrial project logistics to cross-border e-commerce and other related businesses.

Expeditors is a global logistics company headquartered in Seattle, Washington.

Segmentation Overview:

Among different product types, Non-Cloud Base segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Retail Industry segment occupied the biggest share from 2018 to 2022.

Key Companies in the global NVOCC Aggregator market covered in Chapter 3:

Expeditors International
DHL
SeaMaster Logistics, Inc.
MCL Multi Container Line
C.H.Robinson
Kerry Apex Group
China lnternational Freight Co.
OEC Group
De Well
Kuehne + Nagel lnternational
Orient Star Transport International Ltd.
Hecny Shipping
Honour Lane Shipping

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

Cloud Base
Non-Cloud Base

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

Retail Industry
Manufacturing Industry
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)