As part of Emergen Research's Global Customs Brokerage Market Research Report, key business details and extensive geographical spread of the Customs Brokerage industry have been analyzed. As well as a comprehensive qualitative and quantitative analysis, the study contains crucial statistics about the Customs Brokerage market. Also included are profiles of established and emerging players, including business overviews, product portfolios, strategic alliances, and business expansion strategies. The current COVID-19 pandemic is expected to have an effect on the growth of the Customs Brokerage industry, primarily as a result of movement restrictions and impact on supply and demand due to lockdowns. In the wake of the COVID-19 pandemic, several sectors of the global market have been affected, and Customs Brokerage will likely be among them. Economic slowdown and dynamic changes in demand will further hinder the growth of the sector. The report covers the impact analysis of the COVID-19 pandemic on the overall Customs Brokerage industry.
The customs brokerage market plays a international trade by ensuring compliance with facilitating the smooth movement of goods across borders. This market involves the services provided by customs brokers, who act as intermediaries between importers/exporters and customs authorities. They assist in the preparation and submission of customs documentation, classification of goods, payment of duties and taxes, and clearance of goods through customs.
The global customs brokerage market size was USD 23.78 Billion in 2022 and is expected to register a revenue CAGR of 7.7% during the forecast period, according to latest analysis by Emergen Research. The global customs brokerage market has witnessed significant growth in recent years, driven by several factors. Firstly, the increasing volume of international trade has led to a greater demand for customs brokerage services. With globalization and the expansion of supply chains, companies are increasingly relying on customs brokers to navigate complex customs procedures and ensure compliance with ever-changing regulations.
Furthermore, the growing complexity of customs regulations and the need for specialized knowledge have also contributed to the growth of the customs brokerage market. Customs brokers possess expertise in customs procedures, tariff classifications, and trade agreements, which helps importers/exporters avoid costly delays and penalties.
However, the customs brokerage market also faces certain restraints. One of the major challenges is the increasing scrutiny and enforcement of customs regulations by authorities worldwide. Governments are becoming more vigilant in detecting and preventing customs fraud, smuggling, and other illegal activities. This leads to stricter compliance requirements and increased scrutiny of customs brokerage practices.
Despite these challenges, the customs brokerage market is expected witness significant growth in the coming years. Several factors are driving this growth. Firstly, the ongoing digital transformation in the logistics industry is revolutionizing customs brokerage services. The adoption of advanced technologies such as artificial intelligence, blockchain, and automation is streamlining customs processes, reducing paperwork, and improving efficiency.
Moreover, the implementation of trade facilitation measures by governments is also expected to boost the customs brokerage market. Trade facilitation initiatives to simplify customs procedures, reduce trade barriers, and enhance the efficiency of cross-border These initiatives include the implementation of single-window systems, harmonization of customs procedures, and the use of electronic documentation.
According to statistics from government organizations, the customs brokerage market has witnessed steady growth in recent years. For instance, the World Customs Organization reported that global merchandise trade increased by 3.6% in 2018, reaching a total value of $19.48 trillion. This growth in trade volume has directly contributed to the demand for customs brokerage services.
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Market Overview:
The report bifurcates the Customs Brokerage market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
You need to discover how this will impact the Customs Brokerage market today, and over the next 10 years:
- Our 250-page report provides 194 tables and 189 charts/graphs exclusively to you.
- The report highlights key lucrative areas in the industry so you can target them – Now.
- It contains in-depth analysis of global, regional and national sales and growth.
- It highlights for you the key successful trends, changes and revenue projections made by your competitors.
Prominent Players Analyzed in the Report:
Kuehne+Nagel, United Parcel Service of America, Inc., CEVA Logistics, APL Logistics Ltd., Livingston International, GEODIS, Expeditors International of Washington, Inc., Nippon Express Holdings, A.N. Deringer, Inc., Deutsche Post DHL Group, FedEx, CJ Logistics Corporation, DB Schenker, and C.H. Robinson Worldwide, Inc.
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The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others.
According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Furthermore, the report divides the Customs Brokerage market into key segments and sub-segments to offer an analysis of the product type and application spectrum of the industry. It also offers predictions about the segments expected to show significant growth during the projected timeline.
Market Segmentations of the Customs Brokerage Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Customs Brokerage market on the basis of product, application, and region:
Segments Covered in this report are:
-
Mode of Transportation Outlook (Revenue, USD Billion; 2019-2032)
- Sea
- Air
- Land
-
Application Outlook (Revenue, USD Billion; 2019-2032)
- Healthcare
- Manufacturing
- Telecommunication
- Government and Public Utilities
- Others
-
Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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Competitive Terrain:
The global Customs Brokerage industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
Overview of the Customs Brokerage Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
- In-depth analysis of the risks, restraints, and limitations in the Customs Brokerage industry
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