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

Key Findings
• 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 de congest 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 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 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 system, cargo management systems and communication and information systems such as EDI which can be used to reduce paperwork and minimize 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 Forwarding” believe 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
• Nigeria Freight Forwarding Market Size
• Nigeria Freight Forwarding Market Segmentation
• Competitive Scenario in Nigeria Freight Forwarding Market
• Company Profiles of Major Players in Nigeria Freight Forwarding Market
• Nigeria Freight Forwarding Market Future Outlook and Projections
• Nigeria Freight Forwarding Future Market Size
• Nigeria Freight 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:

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/africa-freight-forwarding-market/263656-100.html

The report provides a comprehensive analysis of the freight forwarding market in Africa. The report specially 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 has 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 the 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

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/kenya-freight-forwarding-market-outlook/240763-100.html

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 East of Doing Business Index and rank 68 in the Logistics Performance Index. Kenya Logistics Market has witnessed 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.

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/uganda-freight-forwarding-market-outlook/241258-100.html

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 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 a 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 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.

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/south-africa-logistics-market/222337-100.html

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 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.

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/vietnam-freight-forwarding-market/145654-100.html

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 role and regulations. The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions for overall Vietnam freight forwarding market.

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/thailand-freight-forwarding-market-outlook-2022/156566-100.html

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 role 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 FMCG sector, retail sector, food and E-commerce industry in the country has 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 restructure 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.

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/kuwait-freight-forwarding-market/157175-100.html

The report provides a comprehensive analysis of freight forwarding services in Kuwait. The report focuses on overall market size for freight forwarding in the 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.

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/philippines-freight-forwarding-market/169966-100.html

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 role and regulations. The report concludes with market projection for future for every single market described above and analyst recommendations highlighting the major opportunities and cautions for overall Philippines freight forwarding market.

The growth of freight forwarding in Philippines was supported by development in major industries such as manufacturing, retail, wholesale, construction, agriculture and mining. Expanding FMCG sector, retail sector, food and E-commerce industry in the country has 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. Entry of new players has further aided the demand in the freight forwarding market.

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