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Asia-Pacific Customs Brokerage Market Size (2024 - 2029)

The Asia-Pacific customs brokerage market is experiencing steady growth, driven by its crucial role in global trade, despite the challenges posed by the COVID-19 pandemic. The market's expansion is influenced by the region's significant contribution to global imports and exports, with major trading nations such as China, Japan, India, Australia, and South Korea at the forefront. The competitive landscape is characterized by numerous brokers, although a few major players dominate the market. Companies are increasingly investing in research and development to enhance customs clearance processes, aiming for efficiency and faster turnaround times, which is expected to further influence the market's scale and scope during the forecast period.

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Market Size of Asia-Pacific Customs Brokerage Industry

asia pacific customs brokerage market
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 3.00 %
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Customs Brokerage Market Analysis

The Asia-Pacific customs brokerage market is estimated to register a CAGR of approximately 3% during the forecast period (2022-2027).

The coronavirus disease (COVID-19) pandemic has had a significant negative impact on global trade and supply chains, with many vulnerable economies in low-income countries being disproportionately affected. Although developing Asia's trade recovered somewhat in the latter half of 2020, mainly due to the People's Republic of China (PRC), the rebound was less pronounced in other economies in the region. This also had an impact on the customs brokerage market in the region.

However, now the Asia-Pacific customs brokerage market has been steadily expanding, and this trend is expected to continue throughout the forecast period. The Asia-Pacific region is very important in global trade, and the region accounts for a large portion of global imports and exports. The region's top trading nations are China, Japan, India, Australia, and South Korea. According to the Ministry of Finance of the People's Republic of China, China collected CNY 2.01 trillion in custom duties in 2021. The Central Taxes and Customs Board of India states that the total customs duties collected in 2020-2021 were INR 1.3 trillion, and the total customs duties collected by the Japan Customs Authority in FY 2019 were JPY 9.2 trillion, accounting for 14.9% of the total national tax revenues.

Customs brokerage is a highly competitive market, with a large number of brokers operating, particularly along borders. The major players, however, control a sizable portion of the market. Companies that offer customs brokerage services are investing in R&D to gain a competitive advantage in the market. R&D spending is expected to rise over the forecast period as demand grows for streamlined and more effective customs clearance processes with quick turnaround times.

Asia-Pacific Customs Brokerage Industry Segmentation

Customs Brokerage firms facilitate the shipment and delivery of goods across geographical borders for individuals and organizations. The Asia-Pacific customs brokerage market is segmented by mode of transport and by geography. By mode of transport, the market is segmented into sea, air, and cross-border land transport. By geography, the market is segmented into China, Japan, India, Australia, Malaysia, South Korea, and the rest of Asia-Pacific.

By Mode Of Transport
Sea
Air
Cross-Border Land Transport
By Geography
China
Japan
India
Australia
Malaysia
South Korea
Rest of Asia-Pacific
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Asia-Pacific Customs Brokerage Market Size Summary

The Asia-Pacific customs brokerage market is experiencing steady growth, driven by the region's significant role in global trade. Despite the initial setbacks caused by the COVID-19 pandemic, which impacted trade and supply chains, the market has been expanding, supported by the economic recovery in key countries like China, Japan, India, Australia, and South Korea. These nations are pivotal in global imports and exports, with China leading the charge due to its vast consumer market and substantial trade volumes. The customs brokerage sector is highly competitive, with numerous brokers operating, particularly along borders. Major players are investing in research and development to enhance customs clearance processes, aiming for quicker turnaround times and increased efficiency.

Maritime freight transport remains the dominant mode of international goods transport, with sea transport accounting for a significant portion of global trade by volume and value. The Asia-Pacific region's prominence in maritime trade has strengthened, with developing countries, including those in Asia, playing a crucial role in global goods loading and unloading. The market is characterized by a fragmented nature in Europe, with high competition among numerous customs brokers. Notable companies like Geodis Logistics, JAS Worldwide Logistics, and DHL Group Logistics are key players in the market. Recent developments, such as the accreditation of GEODIS in Hong Kong and Bolloré Logistics in Japan as Authorized Economic Operators, highlight the ongoing efforts to enhance security and efficiency in customs operations, facilitating smoother trade processes.

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Asia-Pacific Customs Brokerage Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Current Market Scenario

    2. 1.2 MARKET DYNAMICS

      1. 1.2.1 Drivers

      2. 1.2.2 Restraints

      3. 1.2.3 Opportunities

    3. 1.3 Government Initiatives and Regulations

    4. 1.4 Supply Chain/Value Chain Analysis

    5. 1.5 Impact of COVID-19 on the Market

    6. 1.6 Brief on Customs Brokerage as a Freight Forwarding Function

    7. 1.7 Overview of Customs Pricing

    8. 1.8 Insights on Customs Brokerage Services by End-user Industry

    9. 1.9 Industry Attractiveness - Porter's Five Forces Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Mode Of Transport

      1. 2.1.1 Sea

      2. 2.1.2 Air

      3. 2.1.3 Cross-Border Land Transport

    2. 2.2 By Geography

      1. 2.2.1 China

      2. 2.2.2 Japan

      3. 2.2.3 India

      4. 2.2.4 Australia

      5. 2.2.5 Malaysia

      6. 2.2.6 South Korea

      7. 2.2.7 Rest of Asia-Pacific

Asia-Pacific Customs Brokerage Market Size FAQs

The Asia-Pacific Customs Brokerage Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Geodis Logistics, JAS Worldwide Logistics, DHL Group Logistics, Yusen Logistics and HTH Corporation are the major companies operating in the Asia-Pacific Customs Brokerage Market.

Asia-Pacific Customs Brokerage Market Report Snapshots

Asia-Pacific Customs Brokerage Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)