NVOCC Aggregator Market in Europe 2018-2022
About NVOCC Aggregator
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.
Technavio’s analysts forecast the NVOCC Aggregator Market in Europe to grow at a CAGR of 1.54% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the NVOCC aggregator market in Europe. To calculate the market size, the report considers the revenue generated from the growing need for NVOCC Aggregator services in Europe in various end-user industries including retail, manufacturing, and others.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – NVOCC Aggregator Market in Europe 2018-2022
Technavio recognizes the following companies as the key players in the NVOCC aggregator market in Europe: C.H. Robinson Worldwide, Expeditors, KUEHNE+NAGEL, and United Parcel Service.
Commenting on the report, an analyst from Technavio’s team said: “One trend gaining momentum in this market is the introduction of cloud computing. Cloud computing helps NVOCC aggregators to optimize the utilization of information resources. It reduces cost by helping operators to render services at a comparatively lower price while maintaining the ensured level of quality.”
According to the report, one driver influencing this market is the increasing free trade agreements with European countries. Europe is an attractive market due to the ease of accessibility to modern transportation and communication systems. The increase in trade agreements and the number of free trade agreements, will drive the volume of exports and imports in countries in Europe.
Further, the report states that one challenge affecting this market is the financial impact due to fluctuations in container freight rates. 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.
C.H. Robinson Worldwide, Expeditors, KUEHNE+NAGEL, and United Parcel Service.