SAN FRANCISCO, Oct. 22, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Seafreight Forwarding - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE Edition: 8; Released: April 2021 Executive Pool: 429 Companies: 41 - Players covered include C.H. Robinson Worldwide, Inc.; CEVA Logistics; DB Schenker; Deutsche Post AG (DHL Group); DSV A/S; Kuehne + Nagel, Inc.; Nippon Express Co., Ltd. and Others. Coverage: All major geographies and key segments Segments: Segment (Packaging, Documentation, Transportation & Warehousing, Other Segments) Geographies: World; United States; Canada; Japan; China; Europe ( France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific ( Australia; India; South Korea; and Rest of Asia-Pacific); Latin America ( Argentina; Brazil; Mexico; and Rest of Latin America); Middle East ( Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Seafreight Forwarding Market to Reach 71.2 Million TEUs by 2026Amid the COVID-19 crisis, the global market for Seafreight Forwarding estimated at 64 Million TEUs in the year 2020, is projected to reach a revised size of 71.2 Million TEUs by 2026, growing at a CAGR of 1.7% over the analysis period. Packaging, one of the segments analyzed in the report, is projected to record a 1.6% CAGR and reach 30.3 Million TEUs by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Documentation segment is readjusted to a revised 1.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at 17.6 Million TEUs in 2021, While China is Forecast to Reach 13.4 Million TEUs by 2026The Seafreight Forwarding market in the U.S. is estimated at 17.6 Million TEUs in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of 13.4 Million TEUs by the year 2026 trailing a CAGR of 3.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.2% and 1.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 0.6% CAGR.
Transportation & Warehousing Segment to Reach 15.9 Million TEUs by the year 2026In the global Transportation & Warehousing segment, USA, Canada, Japan, China and Europe will drive the 1.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of 10.6 Million TEUs in the year 2020 will reach a projected size of 11.9 Million TEUs by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.