Global Seafreight Forwarding Market 2017-2021
About Seafreight Forwarding
Seafreight forwarders, also known as non-vessel operating common carriers, are intermediary agents that arrange shipments for industries from manufacturers to the final point of distribution. They have long-term contracts with shipping line carriers for the movement of cargo. This enables them to offer secure movement of cargo at low rates. They act as supply chain experts, and their services include commercial invoicing, declaration of shipper's export, packaging, documentation, warehousing, and distribution at a destination.
Technavio’s analysts forecast the global seafreight forwarding market to grow at a CAGR of 3.71% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global seafreight forwarding market for 2017-2021. To calculate the market size, the report considers the the volume of seafreight transported by vendors in the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Seafreight Forwarding Market 2017-2021
Technavio recognizes the following companies as the key players in the global seafreight forwarding market: eutsche Post DHL Group, Kuehne + Nagel, DB Schenker, and Sinotrans.
Other Prominent Vendors in the market are: C.H. Robinson Worldwide, CEVA Logistics, CJ Korea Express, DACHSER, Dimerco, DSV, Expeditors International, GEODIS, Hellmann Worldwide Logistics, Hitachi Transport System, Kerry Logistics Network, Logwin, Nippon Express, NNR Global Logistics, Panalpina, Pantos Logistics, Pilot Freight Services, Bolloré Logistics, Toll Holdings, UPS Supply Chain Solutions, and Yusen Logistics.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing intermodal freight transportation. Intermodal freight transportation will post a CAGR of more than 10% during the forecast period. Intermodal transportation uses different modes of transportation to move goods from one place to another. Companies rely more on intermodal transportation for the shipment of automotive parts, consumer goods, and heavy vehicles.”
According to the report, one of the major drivers for this market is increase in trade agreements between nations. The global economy recovery has resulted in the increase in trade volumes between countries. The trade barriers have reduced because of the relaxation of government policies, increasing imports and exports between nations. Favorable government trade policies have resulted in a high demand for freight forwarding services.
Further, the report states that one of the major factors hindering the growth of this market is increase in reshoring and nearshoring manufacturing. Manufacturers are reconsidering their offshoring policies. The advantages that drove offshoring, such as low labor and overhead costs, are diminishing rapidly, and companies are shifting toward reshoring and nearshoring. Reshoring is the process of bringing offshore production back to the home country.
eutsche Post DHL Group, Kuehne + Nagel, DB Schenker, Sinotrans, C.H. Robinson Worldwide, CEVA Logistics, CJ Korea Express, DACHSER, Dimerco, DSV, Expeditors International, GEODIS, Hellmann Worldwide Logistics, Hitachi Transport System, Kerry Logistics Network, Logwin, Nippon Express, NNR Global Logistics, Panalpina, Pantos Logistics, Pilot Freight Services, Bolloré Logistics, Toll Holdings, UPS Supply Chain Solutions, Yusen Logistics.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook