1. Market Research
  2. > Transportation
  3. > Logistics and Freight Market Trends
United States Customs Brokerage Market - Growth, Trends, and Forecasts (2020 - 2025)

United States Customs Brokerage Market - Growth, Trends, and Forecasts (2020 - 2025)

  • October 2020
  • 258 pages
  • ID: 5993770
  • Format: PDF
  • Mordor Intelligence LLP

Summary

Table of Contents

Search Inside

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.

- 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.
- The companies providing customs brokerage services are investing in research and development activities to gain competitive edge in the market. As the demand for streamlined and more effective customs clearance process in short turnaround times is growing, R&D spending is expected to increase through the forecast period.
- The logistics players across the world, including customs brokers are exploring the application of blockchain technology. For instance, Blockchain In Transport Alliance (BiTA) is an alliance formed by logistics and other players to drive the adoption of blockchain.
- In Mar 2019, Livingston announced its membership in the Blockchain in Transport Alliance (BiTA). The membership allows the company to provide input into an evolving set of industry standards for rapidly developing blockchain technology that will serve as the core of digitized business transactions in the world of international freight.

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 customs brokerage market. The imports of the country remained steady in 2019 when compared to 2018, while there is 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 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 case of Sea transport and so, the revenue of customs brokerage market. The demand for air freight transport is increasing with 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 the 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 future driven by USMCA. The customs brokerage services for cross-border land transport is highly fragmented with many number of small brokers operating at each border portof entry.

Competitive Landscape
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.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.

ref:plp2020

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on