Asia-Pacific Shipping Agency Services Market Size (2024 - 2029)

The Asia-Pacific shipping agency services market is experiencing significant growth, driven by the expansion of the marine freight transportation sector and the increasing demand for containerized and bulk cargo. This growth is further supported by rising global exports, heightened customer demand, and the development of new regional trade hubs. The market's expansion is also attributed to the crucial role of customs clearance services in facilitating international trade. Despite disruptions caused by the COVID-19 pandemic, which impacted maritime shipping and freight services, the market is poised for continued growth due to the rising need for efficient import and export solutions.

Market Size of Asia-Pacific Shipping Agency Services Industry

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Asia-Pacific Shipping Agency Services Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 7.00 %
Market Concentration Medium

Major Players

Asia-Pacific Shipping Agency Services Market Major Players

*Disclaimer: Major Players sorted in no particular order

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APAC Shipping Agency Services Market Analysis

The size of APAC Shipping Agency Services market is USD 48 billion in the current year and is anticipated to register a CAGR of over 7% during the forecast period. The major drivers for this Asia-Pacific shipping agency services market are the high growth of the marine freight transportation market and the surging demand for containerized and bulk cargo. Increasing global exports, rising customer (shipping companies) demand, and expansion of new regional trade hubs are the additional factors contributing to accelerated growth.

  • Maritime shipping is the backbone of world trade; it is estimated that some 80 percent of all goods are carried by sea. With the growth of the world economy over the past decades, the volume of freight transported by ships has increased as well.
  • With the growth of shipping transport gaining importance, the Asia-Pacific Shipping Agency market is also expected to be boosted in the future. The raising demand for imports and exports of manufactured goods, and the bulk transport of raw materials are fueling the demand for the shipping agency services market.
  • Shipping agents can help manage the entire supply chain for their clients, from the suppliers to the customers. This may include helping source products and arranging to ship. A key driver for the growth of the shipping agency services market is customs clearance services. Customs clearance is an important step in importing or exporting products.
  • According to statistics from the Ministry of Transport, container throughput at Chinese ports grew steadily from January to October 2022. According to statistics from the Ministry of Transport, container throughput at Chinese ports grew steadily from January to October 2022. According to the ministry, 240 million twenty-foot equivalent units of containers were processed at the nation's ports during this time, an increase of 4% from the previous year. The increase rate from year to year is consistent with what was seen in the first three quarters of this year. At 12.93 billion tonnes, cargo traffic at Chinese ports increased by 0.5 percent from the previous year. Compared to the first three quarters of 2022, this growth rate is greater than the 0.1 percent growth rate.
  • The outbreak of a pandemic changed all economic and trade expectations for 2020. Beginning in early 2020, the COVID-19 pandemic disrupted maritime shipping and freight services, leading to canceled, port delays, and container shortages, which affected the Asia-Pacific shipping agency services market.

APAC Shipping Agency Services Industry Segmentation

Shipping agents provide various shipping-related services, such as packing and shipping products, tracking numbers, custom clearance, handling returns, and many more to help shippers with their logistics. Shipping agents offer a wide range of services, some common services include arranging for shipping and receiving services, picking and packing items for shipping, preparing shipping documents, tracking packages, etc.,

The report provides a comprehensive background analysis of the Canada Facade market, covering the current market trends, restraints, technological updates, and detailed information on various segments and the competitive landscape of the industry. Additionally, the COVID-19 impact has been incorporated and considered during the study. Asia-Pacific Shipping Agency Services Market is Segmented By Type (Port Agency, Cargo Agency, Charter Agency, and Others), By Application (Ship Owner, and Lessee), By Service (Packaging Services, Shipping Services, Customs Clearance Services, Logistical Support Services, and Other Services), and By Geography (India, China, Japan, Australia, and the Rest of Asia-Pacific). The report offers the market sizes and forecasts for the Asia-Pacific Shipping Agency Services Market in value (USD) for all the above segments and the impact of COVID-19 on the market.

By Type
Port Agency
Cargo Agency
Charter Agency
Others
By Application
Ship Owner
Lessee
By Service
Packaging Services
Shipping Services
Custom Clearance Services
Logistical Support Services
Other Services
By Geography
India
China
Japan
Australia
Rest of Asia-Pacific
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Asia-Pacific Shipping Agency Services Market Size Summary

The Asia-Pacific shipping agency services market is experiencing significant growth, driven by the expansion of marine freight transportation and the increasing demand for containerized and bulk cargo. This growth is further fueled by rising global exports, heightened demand from shipping companies, and the development of new regional trade hubs. Maritime shipping, which accounts for a substantial portion of global trade, is becoming increasingly important, and the Asia-Pacific region is poised to benefit from this trend. The demand for shipping agency services is bolstered by the need for efficient supply chain management, customs clearance, and the handling of logistics related to the import and export of goods. China's ports, in particular, have seen substantial growth, supported by initiatives like the Belt and Road Initiative, which has enhanced their capacity and competitiveness in the global market.

The market is characterized by a high degree of fragmentation, with numerous players offering a range of services to meet the diverse needs of the shipping industry. Major companies such as A. P. Møller - Mærsk A/S, Nippon Yusen Kabushiki Kaisha, and COSCO SHIPPING Holdings Co. Ltd. dominate the market, leveraging their economies of scale to provide cost-effective shipping solutions. The Asia-Pacific shipping agency services market is expected to continue its upward trajectory, with key players engaging in strategic expansions and collaborations to enhance their service offerings. Notable developments include GAC India's recognition for its expertise in handling dry bulk cargo and Sinotrans' expansion of services across multiple ports in China. These activities underscore the dynamic nature of the market and the ongoing efforts to meet the growing demands of the shipping industry in the region.

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Asia-Pacific Shipping Agency Services Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Current Market Scenario

    3. 1.3 Technological Trends

    4. 1.4 Industry Value Chain Analysis

    5. 1.5 Government Regulations And Initiatives

    6. 1.6 Insights on Costing

    7. 1.7 Impact of Covid-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Port Agency

      2. 2.1.2 Cargo Agency

      3. 2.1.3 Charter Agency

      4. 2.1.4 Others

    2. 2.2 By Application

      1. 2.2.1 Ship Owner

      2. 2.2.2 Lessee

    3. 2.3 By Service

      1. 2.3.1 Packaging Services

      2. 2.3.2 Shipping Services

      3. 2.3.3 Custom Clearance Services

      4. 2.3.4 Logistical Support Services

      5. 2.3.5 Other Services

    4. 2.4 By Geography

      1. 2.4.1 India

      2. 2.4.2 China

      3. 2.4.3 Japan

      4. 2.4.4 Australia

      5. 2.4.5 Rest of Asia-Pacific

Asia-Pacific Shipping Agency Services Market Size FAQs

The Asia-Pacific Shipping Agency Services Market is projected to register a CAGR of 7% during the forecast period (2024-2029)

Falcon Freight, Bansar, International Clearing & Shipping Agency (India) Pvt. Ltd., Legend Shipping Agency and Batam Shipping Agency are the major companies operating in the Asia-Pacific Shipping Agency Services Market.

Asia-Pacific Shipping Agency Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)