The global seafreight forwarding market was valued at USD 64 million in 2016 and is expected to surpass USD 76 million by 2021, says Technavio.
Technavio has announced the launch of its latest market research report on the global seafreight forwarding market to its packaging portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Deutsche Post DHL Group, Kuehne + Nagel, DB Schenker, and Sinotrans.
According to Sharan Raj, a lead analyst for packaging research at Technavio, “The market is witnessing an increase in trade agreements between nations. Promising government trade policies have led to the high demand for freight forwarding services. As a result, vendors have been compelled to keep pace with the high freight transportation needs of importers and exporters.”
The propagation of trade agreements and FTAs, such as the Trans-Pacific agreement, has contributed to the growth in trade between countries. Trade agreements cover three things such as removing complicated regulatory barriers, reducing trade tariffs, and increasing the investment environment of both parties in the agreement.
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Growing intermodal freight transportation
Intermodal freight transportation will post an impressive growth rate 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. The main reasons for the increased use of intermodal transportation are improved efficiency, cost reduction, and environmental impact.
Rising demand for integrated services
Freight forwarders provide customers with a wide range of integrated services such as usual transport of cargo from source to destination and many more. These services include customs brokerage while exporting and importing, origin consolidation and destination deconsolidation services such as supporting government inspections, trans-loading, and contract logistics services. These services aid customers to focus on their core competencies and outsource all peripheral yet business-critical supply chain activities.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Seafreight Forwarding Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Domestic Freight Market in the US 2015-2019
- Global Intermodal Freight Transportation Market 2015-2019
- Local Specialized Freight Trucking Market in the US 2015-2019
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