Sea freight forwarding is a service used by companies that deal with international trade to move cargo by sea from one destination to another. A sea freight forwarder is a person or company that organizes the shipment of goods by sea on behalf of another person or company. The forwarder takes responsibility for the entire shipment process, from pickup to delivery.
The main advantages of using a sea freight forwarding service over shipping directly include: cost savings, expertise, negotiation power, and economies of scale. These forwarders specialize in the transport of cargo and as such can secure lower rates than customers can achieve on their own, allowing them to save money.
Due to the global nature of trade, sea freight forwarding has become an increasingly important industry. The global marketplace has opened up opportunities for international trade and made ocean freight forwarding an ever more essential role. Sea freight forwarding is used for both imports and exports by businesses, individuals, and governments. The year 2020 saw a huge drop in sea freight volumes around the world and some of the largest sea freight carriers in the world were negatively affected. However, the industry is slowly recovering and sea freight forwarding is now expected to experience further growth in 2021.
The global Sea Freight Forwarding market was valued at US$ 75380 million in 2022 and is anticipated to reach US$ 86910 million by 2029, witnessing a CAGR of 2.4% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global Sea Freight Forwarding Market available at: https://www.themarketreports.com/report/global-sea-freight-forwarding-market-research-report
This report aims to provide a comprehensive presentation of the global market for Sea Freight Forwarding, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Sea Freight Forwarding.
Global Sea Freight Forwarding key players include Kuehne + Nagel, DHL Group, Sinotrans, DB Schenker Logistics, GEODIS, etc. Global top five manufacturers hold a share about 35%. Europe is the largest market, with a share about 35%, followed by North America and China, both with a share about 20 percent. In terms of product, LCL is the largest segment, with a share about 50%. And in terms of application, the largest application is Automotive, followed by Electronic, Agricultural, Beverage, etc.
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