U.S. Customs Brokerage Market Report 2022-2027: Top Players include United Parcel Service and FedEx Corporation - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "United States Customs Brokerage Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.

The United States Customs Brokerage market is estimated to be valued at more than USD 4 billion and is estimated to grow at a CAGR of more than 3.5% during the forecast period.

Key Market Trends

Growth in Imports Driving the US Customs Brokerage Market:

Freight transportation arrangements are more influenced by the volume of imports into the United States, which increases demand for industry services regarding customs regulations for finished consumer goods and semi-finished inputs to domestic production. The growth in imports is a prime driving factor for the customs brokerage market. The imports of the country remained steady in 2019 when compared to 2018, while there is a growth of more than 9% in 2018. The slowdown in 2019 can be attributed to US-China trade war.

The manufacturing sector depends on timely and reliable deliveries of raw materials, or semi-finished products as inputs to further processing. It also requires finished products to be transported to warehouses or distribution centers. The major determinant of manufacturing demand is consumer spending. The trend toward just-in-time (JIT) inventories has also created an increased demand for transportation services, as manufacturers seek smaller and more frequent deliveries. JIT allows companies to improve profitability by purchasing materials only as needed, thereby reducing inventory costs. For such timely delivery needs, efficient customs clearance is of high importance driving the need for customs brokers.

Sea Transportation Dominates the US Customs Brokerage Market:

Maritime freight transport is the major mode of transport of international transport of goods. The number of customs entries by mode is highest in the case of Sea transport and so, the revenue of customs brokerage market. The demand for air freight transport is increasing with the growing demand for perishables, chemicals & valuables, and the rising demand for just-in-time production of goods. The US Customs Brokerage Market for Air freight transport is expected to witness faster growth over the forecast period when compared to other modes of transport.

The road freight movement of goods is the dominant mode of transportation in the United States and is an important factor for economic growth. The cross-border land transport, including road, rail, and pipeline transport between US and North American partners Canada and Mexico is increasing steadily and is expected to grow in the future driven by USMCA. The customs brokerage services for cross-border land transport is highly fragmented with many small brokers operating at each border port of entry.

Competitive Landscape

The market for Customs Brokerage in the United States is fairly fragmented. With many number of customs brokers operating in the market, the competition is high. The top players in the market include United Parcel Service and FedEx Corporation. Some other significant players include Livingston International, Expeditors, A.N. Deringer, and C.H. Robinson. Based on the number of entries, it was estimated that FedEx and UPS together account for almost 35% of the total market. Although the top five to ten players take up more than 50% of the market, the companies that account for the remaining market share are more in number with very less market shares.

Apart from these players, the major global freight forwarding companies such as DB Schenker, and Kuehne + Nagel also have good service offering in the US customs brokerage market. A lot of acquisitions have occurred in the past decade such as Carmichael by APL Logistics, and Livingston acquiring FPA Customs brokers and many others, etc.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Key Topics Covered:

1 INTRODUCTION

1.1 Study Assumptions

1.2 Scope of the Study

2 RESEARCH METHODOLOGY

2.1 Analysis Methodology

2.2 Research Phases

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS

4.1 Current Market Scenario

4.2 Technological Trends

4.3 Government Regulations

4.4 Value Chain / Supply Chain Analysis

4.5 Insights on Imports and Custom Brokerage Services by State

4.6 Brief on Customs Brokerage as a Freight Forwarding Function

4.7 Insights on Standalone or Predominant Customs Brokerage Operations-only Firm - Penetration in the Market

4.8 Review of Customs Brokerage Costs as Percentage of Total Logistics Spend

4.9 Shipper Insourcing vs. Outsourcing Trends in Customs Brokerage Related Tasks

4.10 Overview of Customs Pricing

4.11 Insights on Customs Brokerage Services by End-user Industry

4.12 Insights from Industrial Surveys

5 MARKET DYNAMICS

5.1 Drivers

5.2 Restraints

5.3 Opportunities

5.4 Industry Attractiveness - Porter's Five Forces Analysis

6 MARKET SEGMENTATION

6.1 By Mode of Transport

6.1.1 Sea

6.1.2 Air

6.1.3 Cross-border Land Transport

7 MARKET OVERVIEW FOR SOLUTIONS ALLIED TO CUSTOMS BROKERAGE SERVICE

7.1 Software

7.2 Consulting

7.3 Contract Logistics-based Customs Brokerage

7.4 Other Related Value-added Services

8 COMPETITIVE LANDSCAPE

8.1 Overview (Market Share and Major Players)

8.2 Company Profiles

8.2.1 United Parcel Service Inc.

8.2.2 FedEx Corporation

8.2.3 Deutsche Post DHL group

8.2.4 Expeditors International

8.2.5 Livingston International

8.2.6 A.N. Deringer

8.2.7 C.H. Robinson

8.2.8 Carmichael International

8.2.9 Charter Brokerage LLC

8.2.10 CH Powell Company*

8.3 Other Companies (Key Information/Overview)

8.3.1 Trans American Customhouse Brokers Inc., GHY International, Flexport Inc. Purolator International, Samuel Shapiro & Company, Inc., Scarbrough International, Ltd.*

9 MARKET OPPORTUNITIES AND FUTURE TRENDS

10 APPENDIX

10.1 GDP Distribution, by Activity and Region

10.2 Insights on Capital Flows

10.3 E-commerce and Consumer Spending-related Statistics

10.4 Exports and Imports Statistics of the United States

For more information about this report visit https://www.researchandmarkets.com/r/1eay9n