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Shipping Agency Services Market Share

Report ID: GMI7271
Published Date: Nov 2023
Report Format: PDF

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Shipping Agency Services Market Share

Prominent companies operating in the shipping agency services industry are:

Hutchison Ports
Kuehne + Nagel
PSA International
Cargotec
CEVA Logistics
CMA CGM Group
DHL Global Forwarding
DP World
Expeditors International
Flexport

Hutchison Ports holds the largest market share due to their global network of ports and terminals is extensive, enabling them to serve as local agents for vessels calling at their facilities and providing a broad spectrum of agency services. Hutchison Ports benefits from vertical integration within the CK Hutchison Holdings conglomerate, offering comprehensive end-to-end services, including terminal management, vessel agency, cargo handling, and logistics solutions.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of shipping agency services reached USD 338.2 billion in 2022 and is set to record over 6.2% between 2023 and 2032, says this GMI report.

Cargo agency segment share was around 37% 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.

North America market is expected to record around 5% CAGR from 2023 to 2032, as the region's strong economy, increased consumer demand for imported goods, and the expansion of e-commerce that has fueled international trade.

Hutchison Ports, Kuehne + Nagel, PSA International, Cargotec, CEVA Logistics, CMA CGM Group, DHL Global Forwarding, DP World, Expeditors International, and Flexport.