QY Research has published another report titled, “Global Ocean Freight Forwarding Market Report, History and Forecast 2014-2025,” which provides an analysis of the key trends and opportunities that are likely to impact the market throughout the forecast period of 2019-2025. This 110-page report states that the market was valued at US$99.8 bn in 2018 and is likely to reach at US$164.5 bn by 2025, surging at a healthy CAGR OF 7.4% over the forecast period.
Global Ocean Freight Forwarding Market: Trends and Opportunities
There has been a significant rise in the international e-commerce trade, which has led to increase in the demand for ocean freight forwarding. The growing popularity of blockchain technology in the shipping industry is one of the primary factors that boost the growth of the market in the coming years. Blockchain systems are gradually being used to make the process more effective and can reduce costs by eliminating the needs for a central authority for keeping the records.
Factors such as rising internet penetration and increasing purchasing power parity are expected to contribute to the growth opportunity for the market. Continuous development in foreign trade is also expected to create a positive impact on the growth of the market. Moreover, the developments in infrastructure and services to support e-commerce industry are also expected to augment market growth.
Global Ocean Freight Forwarding Market: Forecast by Segments
On the basis of product type, the global ocean freight forwarding market is segmented into less-than-container load (LCL), Full Container Load (FCL), and others. FCL segment is expected to hold the largest share in the market in the coming years. Based on the end-use industries, the market is segmented into electronic, agricultural, beverage, automotive, and others.
Global Ocean Freight Forwarding Market: Geographical Analysis
EMEA region held the largest market share and is likely to remain dominant over the forecast period. This is due to the increasing trade volume in European trade routers and the rising number of FTAs in this region drives the market growth.
Global Ocean Freight Forwarding Market: Leading Players
Yusen Logistics, Kuehne + Nagel, C.H. Robinson, DHL Group, Logwin, Kerry Logistics, DB Schenker Logistics, Sankyu, GEODIS, Hitachi Transport, Panalpina, KWE, DSV, Damco, Bolloré Logistics, Hellmann, Expeditors, Agility Logistics, Nippon Express, Pantos Logistics, and CEVA Logistics are the prominent players that are operating in the global ocean freight forwarding market.
Global Ocean Freight Forwarding Market: Competitive Landscape
One of the leading players, Kuehne + Nagel has launched its new product KN Pledge, which is the first online sea freight service solution with guaranteed lead time in container shipping. Companies are adopting the new product development strategy to remain competitive in the market and generate revenue.
Full Report Overview@ https://www.qyresearch.com/index/detail/1051185/global-ocean-freight-forwarding-market