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Based on service type, the container services segment accounted for 20% of the market share in 2022, primarily driven by the ever-growing global trade and containerized cargo movement. As international commerce continues to expand, businesses rely on efficient and timely transport of goods via containers. Container services at ports and terminals are essential for the seamless transfer, loading, and unloading of these cargo units, optimizing supply chain logistics. Additionally, factors like the development of mega-container ships and the need for specialized equipment to handle various types of cargo contribute to the sustained demand for these services, making them indispensable in today's global trade landscape.
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Based on agency type, the cargo agency segment held over 37% of the shipping agency services market share in 2022, due to their pivotal role in facilitating the movement of goods and establishing direct relationships with cargo owners, shippers, and consignees, making them key intermediaries in the supply chain.
The capacity to customize services to meet specific cargo needs and handle diverse cargo types, such as containerized goods, breakbulk cargo, or hazardous materials, positions them as versatile partners. Cargo agencies also boast local expertise, intimate knowledge of port regulations, and a commitment to cargo security, ensuring that goods are properly handled and protected during transit. Also, global networks, technology integration, and industry relationships make them vital players in the shipping and logistics landscape.
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North America shipping agency services market size is projected to expand at 5% CAGR during the forecasted period. The region's strong economy, increased consumer demand for imported goods, and the expansion of e-commerce have fueled a surge in international trade. As a result, there is a growing need for professional agency services to facilitate the efficient movement of goods through ports and across borders. Additionally, North America's strategic geographical location for transcontinental shipping routes and its modernized port infrastructure further contribute to the industry's healthy growth as it remains a critical link in the global supply chain.