United States Customs Brokerage Market Demand, Business Opportunity, New Innovations, Global Forecast to 2025 | ABB Ltd, Cognex Corporation, Siemens AG, Schneider Electric, Swisslog Holding AG

The Customs Brokerage Market report provides the overall structure and business outlook of the United States and regional industries. The study also involves the important Achievements of the market, Research & Development, new product launch, product responses, and regional growth of the leading competitors operating in the market on a United States and local scale. The structured analysis contains graphical as well as a diagrammatic representation of the United States Customs Brokerage Market with its specific geographical regions.

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.

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Top Leading Companies of United States Customs Brokerage Market are ABB Ltd, Cognex Corporation, Siemens AG, Schneider Electric, Swisslog Holding AG (Kuka AG), Rockwell Automation Inc., Honeywell International Inc., Robert Bosch GmbH, Johnson Controls International PLC, Emerson Electric Company, General Electric Company, Cisco Systems Inc., Intel Corporation, Fanuc Corporation, Denso Corporation

Market Overview

- The Market for customs brokerage in United States has been growing steadily and the growth is expected to continue through the forecast period. The number of entries processed by US Customs and Border Protection (CBP) has been increasing steadily with increasing imports.

- In 2019, USD 2.7 trillion of imports were processed, equating to 35.5 million entries and more than 28.7 million imported cargo containers at the US ports of entry.

- The continuously changing trade environment and increasing complexity of compliance are driving the demand for customs brokerage services, especially with section 301.

- The US CBP has collected approximately USD 80.7 billion in duties, taxes, and other fees in 2019, which includes USD 71.9 billion in duties. The total duties collected in 2019 has increased by more than 70% when compared to 2018.

- The market for customs brokerage is highly competitive with large number of brokers operating, especially along the borders. However, the major players account for significant market share.

News and Latest Developments

The market for Customs Brokerage in 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 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.

KEY MARKET BENEFITS FOR STAKEHOLDERS

─The objective of report is to define, segment, and project the market on the basis of product type, application, and region, and to describe the content about the factors influencing market dynamics, policy, economic, technology and market entry etc.

─This report provides an in-depth analysis of the United States Customs Brokerage market to identify the potential investment pockets.

─It outlines the current trends and future scenarios to determine the Customs Brokerage market potential and gain stronger market foothold.

─Key drivers, restraints, and opportunities and their detailed impact analysis are elucidated.

─Quantitative analysis of the Customs Brokerage industry from 2015 to 2025 is highlighted to recognize the financial competency of the market.

─Porter’s Five Forces model illustrates the threat of new entrants, threat of substitutes, and strength of the buyers & suppliers.

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