The report titled “Philippines Freight Forwarding Market Outlook to 2023 –
By Land, Water and Air Transport; By International and Domestic Freight; By Flow
Corridors; By Third Party Logistics; By Express Delivery” by
Ken Research suggested a growth at a noteworthy six year CAGR of 8.6% in terms
of revenue in Philippines freight forwarding market in next 5 years till the
year ending 2023E.
The domestic companies were observed
to manage their operations via in-house whereas the international MNCs always
make alliances with international freight companies backed by extensive service
network and brand image in the market.Increase in demand
for transportation of goods from one place to another has accelerated the size
of the freight forwarding market in the Philippines. The high export and import
revenues have positively impacted the freight forwarding industry in the
country. The industry has witnessed large number of players in this segment
which has aided the market revenues of freight forwarding in Philippines including
both domestic as well as international companies. These freight forwarding
companies specialize in providing a full range of services such as tracking
inland transportation, preparation of shipping and export documents, booking
cargo space, negotiating freight charges, freight consolidation, cargo
insurance, and filing of insurance claims. Expanding FMCG sector, retail
sector, food and E-commerce industry has attributed towards the growth of
freight forwarding industry in the country. Freight forwarders are specialized
firms in the logistics chain and can be classified into ocean freight
forwarders and air forwarders. In the initial stages of forwarding, freight
forwarders provide clearing and forwarding services as an agent of the shipper.
At the intermediate level, they make available services such as cargo
consolidation, road haulage, and customs clearance. At the final stage, they
can also provide door-to-door services as multimodal transport operators.
Freight forwarders offer all or a limited range of services depending on their
size, number of personnel, and number of branches.
Key
Segments Covered
By
Freight Movement
·
Road
·
Air
·
Sea
By
Delivery:
·
Normal
·
Express
By
Freight Forwarding
·
International
·
Domestic
By
Flow Corridors
·
Asia
·
North America
·
Europe
·
Middle East
By
Companies
·
International Companies
·
Domestic Companies
Key
Target Audience
·
Shipping Companies
·
Freight Forwarders
·
Logistics Association
·
Express and E-Commerce Logistics Companies
·
Consulting service providers
·
Private Equity/ VCs/ Investment Banking
Companies
Companies
Covered:
·
LBC Express
·
2Go
·
PHL Post
·
JRS Express
·
Air 21
·
DHL
·
FedEx
·
UPS
·
TNT
·
Lazada Express
·
Shopee
·
Jolly B Box
·
Forex Cargo
·
Afreight
·
Chelsea Logistics Holdings Corporation
·
International Container Terminal Services
Inc.
·
Lorenzo Shipping Corporation
·
Metro Alliance Holdings and Equity Corp.
·
Asian Terminals Inc.
·
AAI Worldwide Logistics Inc.
·
Kintetsu World Express
·
Royal Cargo
For more
information on the research report, refer to below link:
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