Nigeria Freight Forwarding Market is Expected to Cross USD 1 Billion by 2023: According to Market Research Report by Ken Research

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  • Nigerian Government is likely to continue to spend about 3.7% of GDP per year on infrastructure between 2017 and 2030 and close to 3.1% of GDP between 2030 and 2040.
  • Nigeria is expected to build the Lekki Lagos Airport on a 3,000-hectare plot and largest Deep Sea Port project at a budget of USD 1.5 billion which is expected to be completed by 2020 that will decongest the traffic near Lagos promoting efficient transportation.
  • Dangote Industries is building a new refinery in Lekki zone near Lagos which is expected to be completed by 2022, thereby increasing the trade of refined petroleum between the countries.

International Trade Agreements to Boost Foreign Trade: The bilateral and free trade agreements with various countries, along with involvement in initiatives such as ECOWAS and AGOA, trade is expected to improve substantially. With the African Continental Free Trade Agreement, Nigeria now has free access to the entire African market thereby improving the trade between the neighboring countries and impacting the logistics sector in the future.

Expected Boost in Manufacturing and Export Sector: The government is focusing on small and medium scale industries under Economic Recovery Growth Plan (ERGP) that will make the country less dependent on foreign imports and boost the manufacturing sector in the future. The new refinery by Dangote Industries will increase refined petroleum exports to foreign countries. Under Vision 2020, Nigeria places an emphasis on large-scale transport projects in rail, road and shipping segments which are also set to boost demand for logistics services.

Advancement in Technology: While GPS tracking and control towers are standard in Western companies, they are still not very popular in Nigeria and are upcoming technologies. Other upcoming technologies include real-time fuel management systems, cargo management systems and communication and information systems such as EDI which can be used to reduce paperwork and minimize the time taken for compliance procedures.

Analysts at Ken Research in their latest publication Nigeria Freight Forwarding Market Outlook to 2023 – By Sea, Land, Air, Rail, and Pipeline Freight Forwarding; International and Domestic Freight, Integrated and Contract Logistics Freight Forwardingbelieve that the Freight Forwarding market in Nigeria is expected to grow due to government spending, increasing volumes of imports and exports and adaptation to new technology.

Key Segments Covered:-

Nigeria Freight Forwarding Market

By Mode of Freight

Road Freight

Rail Freight (Volume and Revenue)

Air Freight (Airfreight in Nigeria (Volume- Imports And Exports of Cargo And Mail By Airports)

Sea Freight (Volume By Import –Export And Cargo Type, Logistic cost, Container Freight Rates, CARGO duty, General Cargo Delivery Charges, And Ship Dues)

By Type of Freight

International Freight Revenue

Domestic Freight Revenue

By Flow Corridors

Asian Countries

European Countries

Middle East

America

African Countries

By Contract and Integrated

Contract Logistics Revenue

Integrated Logistics Revenue

By End-User

Food and Beverages

Industrial and Retail

Automotive

Others (Chemical products, fertilizers, pharmaceutical products, perfumes, etc)

Companies Covered

DHL

BHN Logistics

Bollore Logistics

ABC Transport

UPS (United Postal Services)

Redstar Logistics

Maersk Line

MSC (Mediterranean Shipping Company)

TSL Logistics

Key Target Audience

Freight Forwarding Companies

E-Commerce Logistics Companies

3PL Companies

Consultancy Companies

Express Delivery Logistics Companies

Time Period Captured in the Report:-

Historical Period – 2013-2018

Forecast Period – 2019-2023

Key Topics Covered in the Report:-

Logistics Infrastructure in Nigeria

Nigeria Freight Forwarding Market Overview

NigeriaFreight Forwarding Market Size

NigeriaFreight Forwarding Market Segmentation

Competitive Scenario in Nigeria Freight Forwarding Market

Company Profiles of Major Players in Nigeria Freight Forwarding Market

NigeriaFreight Forwarding Market Future Outlook and Projections

NigeriaFreight ForwardingFuture Market Size

NigeriaFreight Forwarding Market Future Segmentation

Analyst Recommendations

For more information on the market research report, please refer to the below link:-

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/nigeria-freight-forwarding-market/248572-100.html

Other Related Reports by Ken Research:-

Africa Freight Forwarding Market Outlook to 2023 – By Countries (South Africa, Kenya, Tanzania, Uganda, Nigeria, Namibia, and Botswana), Mode of Freight (Road, Rail, Air, Sea, and Pipeline), By End Users (Food and Beverages, FMCG, Industrial, and others) and by Contract Logistics and Integrated Logistics

The report provides a comprehensive analysis of the freight forwarding market in Africa. The report especially focuses on the freight forwarding market of seven African countries namely Botswana, Namibia, Nigeria, Kenya, Uganda, Tanzania, and South Africa with a detailed country profile of each.

Africa Freight Forwarding Market

Contract logistics is known as the driving force for the freight forwarding market and is opted frequently. The market has experienced a growth in its study period resulting in a single-digit CAGR. Food and beverages have been the market’s driving force as most of the consumer spending is towards the same. Future trends in the market focus on Africa having less trade with developed nations and more with developing nations.

By Mode of Freight (Road, Rail, Sea, Air, and Pipeline)

Road freight is the dominant mode of freight movement as most of the countries in Africa are landlocked and last-mile deliveries preferred by road. The ports of Africa play an important role in bringing in cargo to landlocked countries making sea freight second in line after road freight. Intra-regional trade needs funding and improvement with the help of which the overall freight forwarding market would also grow. The state of railways varies from region to region. The significant rail networks are those centered to South Africa and stretching north to Malawi, DR Congo, and Tanzania

Kenya Freight Forwarding Market Outlook To 2023 – By Sea, Land, Air, Rail And Pipeline Freight; International And Domestic Freight, Integrated And Contract Logistics Freight Forwarding

The report provides a comprehensive analysis of the Freight forwarding market in Kenya. The report covers the overall size and future outlook of Kenya Freight Forwarding in terms of value, segmentation on the basis of service mix, by geography, by ownership and by type of industries. The report also covers the competitive landscape and company profiles of major Freight Forwarding companies. The report concludes with market projections for future and analyst recommendations highlighting the major opportunities and challenges.

Logistics is vital for the economic performance of any economy.  Kenya, like other African countries, has structural issues such as logistics infrastructure but the ease of doing business and favorable political climate has steered it ahead in the race. In 2018, Kenya has achieved rank 61 in the Ease of Doing Business Index and rank 68 in the Logistics Performance Index. Kenya Logistics Market has witnessed a positive growth over the past few years. The growth was mainly due to government initiatives such as the Standard Gauge Railway (SGR), Kenya’s strategic location as the gateway to East Africa and the prospering retail and import business.

Uganda Freight Forwarding Market Outlook To 2023 – By Road, Rail And Air Freight; International And Domestic Freight, Integrated And Contract Freight And By End Users (Food And Beverages And Consumer Retail, Automotive, Healthcare And Others)

The report provides a comprehensive analysis of the freight forwarding market in Uganda. It covers the overall size and the future outlook of freight forwarding in Uganda in terms of value, segmentation based on the mode of freight, type of freight, end-users and service mix. The report also covers the competitive landscape and company profiles of major Freight Forwarding companies. The report concludes with market projections for future and analyst recommendations highlighting the major opportunities for the market.

Uganda Logistics Market has not seen steady growth over the past few years, mainly due to the lack of infrastructural developments. The market is highly concentrated with international players. Uganda was ranked at 66th position in the LPI index of the World Bank in 2010. In the year 2016, its rank improved to 58th however by 2018, the country’s LPI rank fell to 102. Between the years 2013-14 and 2017-18, the market has not performed well resulting in a negative single-digit CAGR. The major end-user of the logistics market in the country includes the food and beverages and the consumer retail industry.

South Africa Logistics Market Outlook To 2023 – By Sea, Land, Air Freight Forwarding; International And Domestic Freight, Integrated And Contract Logistics Freight Forwarding; By Warehousing (Industrial/ Retail, ICD/CFS, Cold Storage, Others), 3PL Warehousing, Cold Chain; By Express Logistics And E-Commerce Logistics

The report titled “South Africa Logistics Market Outlook to 2023 – By Sea, Land, Air Freight Forwarding; International and Domestic Freight, Integrated and Contract Logistics Freight Forwarding; By Warehousing (Industrial/ Retail, ICD/CFS, Cold Storage, Others), 3PL Warehousing, Cold Chain; By Express Logistics and E-commerce Logistics” provides a comprehensive analysis of the Logistics market in South Africa. The report covers the overall size and future outlook of South Africa Freight Forwarding, Warehousing, Cold chain, E-Commerce Logistics, Express and 3PL market in terms of value, segmentation on the basis of service mix, by geography, by ownership and by type of industries. The report also covers the competitive landscape and company profiles of major Freight Forwarding, Warehousing, Express Logistics, E-Commerce Logistics, and Outsourced Logistics Companies in South Africa. The report concludes with market projections for future and analyst recommendations highlighting the major opportunities and challenges.

South Africa Logistics Market has witnessed a positive growth over the past few years owing to the rising demand from the FMCG, Retail, Automotive industries and E-commerce orders. The increase in the export and import value of goods have also driven the freight forwarding, warehousing, and value-added services segment in South Africa.

Vietnam Freight Forwarding Market Outlook to 2022 – By Normal and Express Delivery; By Sea, Road, Air and Rail Freight and By International and Domestic Freight Forwarding

The report provides a comprehensive analysis of freight forwarding services in Vietnam. The report focuses on overall market size for freight forwarding in Vietnam, market segmentation by normal and express delivery, by freight movement (sea freight, road freight, air freight, and rail freight), by international and domestic freight forwarding and by flow corridors (Asia Countries, European Countries, American and African Countries). The report also covers the overall competitive landscape and government roles and regulations. The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions for the overall Vietnam freight forwarding market.

Thailand Freight Forwarding Market Outlook to 2022 – By Freight Movement (Sea, Road, Air and Rail Freight); By Normal and Express Delivery; By International and Domestic Freight; By International Flow Corridors and By Third Party Logistics

The report provides a comprehensive analysis of overall market size for freight forwarding in Thailand, segmentation by normal and express delivery, by freight movement (sea freight, road freight, air freight, and rail freight), by international and domestic freight forwarding and by flow corridors (Asia Countries, NAFTA countries, European Countries and Others). The report also covers the overall competitive landscape and government roles and regulations. The report concludes with market projection for future and analyst recommendations highlighting the major opportunities and cautions.

The growth of freight forwarding in Thailand was supported by development in major industries such as manufacturing, retail, automobiles, and agriculture. Expanding the FMCG sector, retail sector, food, and E-commerce industry in the country have attributed to the growth of the freight forwarding industry in the country. The freight forwarding industry in Thailand has grown at a five-year positive CAGR in the review period 2012-2017. The Thai government’s focus on improving the sectors including infrastructure development, the restructuring of the rail freight market under the transport infrastructure development strategies 2022 will see the development of the cargo transport market via railways and increase the role of rail freight, particularly in key economic zones as well as the remote areas.

Kuwait Freight Forwarding Market Outlook to 2022 – By Sea, Air and Road Freight Movement; By International and Domestic Freight; By Express and Normal Delivery; By Flow Corridors and By End Users (Oil and Gas, FMCG, Construction and Others)

The report provides a comprehensive analysis of freight forwarding services in Kuwait. The report focuses on overall market size for freight forwarding in Kuwait, Kuwait freight forwarding market segmentation by Freight Movement (Sea, Air, and Road), by Mode of Freight (International Freight and Domestic Freight), By Type of Delivery (Normal and Express), By Flow Corridors (Asia, European, North America, Gulf Countries, and Others), By Companies (International Companies and Domestic Companies), By End User (Oil and Gas, FMCG, Construction and Others). The report also covers the overall competitive landscape, government role, and regulations, growth drivers, trends and developments. The report concludes with future market projections highlighting the major opportunities and cautions.

Philippines Freight Forwarding Market Outlook to 2023 – By Land Transport, Water Transport and Air Transport; By International and Domestic Freight; By Flow Corridors; By Third Party Logistics and By Express Delivery

The report provides a comprehensive analysis of freight forwarding services in the Philippines. The report focuses on overall market size for freight forwarding in the Philippines, Philippines freight forwarding market segmentation by mode of transport (land transport, water transport and air transport), by international and domestic freight, by flow corridors (Asia, North America, Europe, Middle East, and others), by owned and rented/3pl fleets and by normal and express delivery”. The report also covers the overall competitive landscape and government roles and regulations. The report concludes with market projection for the future for every single market described above and analyst recommendations highlighting the major opportunities and cautions for the overall Philippines freight forwarding market.

The growth of freight forwarding in the Philippines was supported by development in major industries such as manufacturing, retail, wholesale, construction, agriculture, and mining. Expanding the FMCG sector, retail sector, food, and E-commerce industry in the country have attributed to the extraordinary growth of the freight forwarding industry in the country. The Philippines market witnessed the entry of many foreign players as flexible policies were introduced by the government of South Korea to boost economic growth. The entry of new players has further aided the demand in the freight forwarding market.

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing
Ankur@kenresearch.com
+91-9015378249

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