Asia-Pacific Shipping Agency Services Market Size

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.