Who are the key players in Mexico Customs Brokerage Market?

Bollore Logistics Mexico, Tuscor Lloyds México, Chapela Diaz, Montalvo y Montalvo S.C. and Global Logística Aduanal S.C. are the major companies operating in the Mexico Customs Brokerage Market. Read More

What years does this Mexico Customs Brokerage Market cover, and what was the market size in 2023?

In 2023, the Mexico Customs Brokerage Market size was estimated at USD 307.34 million. The report covers the Mexico Customs Brokerage Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Customs Brokerage Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Mexico Customs Brokerage Market Size

Market Size of Mexico Customs Brokerage Industry

Study Period	2019 - 2029
Base Year For Estimation	2023
Market Size (2024)	USD 325.93 Million
Market Size (2029)	USD 437.24 Million
CAGR (2024 - 2029)	6.05 %
Market Concentration	Low
Major Players *Disclaimer: Major Players sorted in no particular order

Mexico Customs Brokerage Market Analysis

The Mexico Customs Brokerage Market size is estimated at USD 325.93 million in 2024, and is expected to reach USD 437.24 million by 2029, growing at a CAGR of 6.05% during the forecast period (2024-2029).

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. As the demand for streamlined and more effective customs clearance processes in short turnaround times is growing, Logistics players across the world, including customs brokers are exploring the application of blockchain technology. For instance, the Blockchain In Transport Alliance (BiTA) is an alliance formed by logistics and other players to drive the adoption of blockchain.
The market for customs brokerage is highly competitive, with a large number of brokers operating, especially along the borders. However, the major players account for a significant market share. Nuvocargo, the first all-in-one digital platform focused on US-Mexico cross-border trade, announced the launch of its Customs Brokerage product. This product is aimed at streamlining customs operations between the US-Mexico border, as customs clearance is a critical point in all cross-border operations and one prone to costly mistakes and miscommunications.

Mexico Customs Brokerage Industry Segmentation

The customs brokerage market refers to the industry involved in facilitating the import and export of goods across international borders while ensuring compliance with the customs regulations and laws of the countries involved.

The Mexico Customs Brokerage Market is segmented by mode of transport (sea, air, and cross-border land transport). The report offers market size and forecasts for the Mexico customs brokerage market in value (USD) for all the above segments, and the COVID-19 impact is comprehensively covered in this report.

By Mode of Transport
		Sea
		Air
		Cross-border Land Transport

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Mexico Customs Brokerage Market Size Summary

The Mexico Customs Brokerage Market is characterized by intense competition, with numerous brokers operating, particularly along the borders. Despite the fragmented nature of the market, major players hold a significant share, leveraging investments in research and development to enhance their service offerings. The increasing demand for efficient customs clearance processes has prompted logistics companies, including customs brokers, to explore innovative technologies such as blockchain. This technological advancement aims to streamline operations and reduce the potential for errors in cross-border trade, which is crucial given the high volume of trade between Mexico and its NAFTA partners, particularly the United States and Canada.

The market's growth is driven by the rising imports and the expanding transportation services industry in Mexico, which has made exports more competitive. The country's strategic position and its robust road freight infrastructure support its role as a key player in international trade. Maritime and air freight also contribute significantly to the market, with increasing volumes handled at ports and airports. The acquisition of companies like Sistemas Casa by WiseTech Global and the merger of NCH Customs Brokers with Tecma Customs Solutions highlight the ongoing consolidation and strategic partnerships within the industry. These developments aim to enhance compliance with customs regulations and improve operational efficiencies, further propelling the market's growth trajectory.

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Mexico Customs Brokerage Market Size - Table of Contents

1. MARKET DYNAMICS AND INSIGHTS
1. 1.1 Market Overview
2. 1.2 Market Size and Demand Forecast
3. 1.3 Market Dynamics (Drivers, Restraints, and Opportunities)
4. 1.4 Insights on Imports and Custom Brokerage Services
5. 1.5 Brief on Customs Brokerage as a Freight Forwarding Function
6. 1.6 Impact of the COVID-19 on the Market
7. 1.7 Insights on Customs Brokerage Services by End-user Industry
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

Mexico Customs Brokerage Market Size FAQs

How big is the Mexico Customs Brokerage Market?

The Mexico Customs Brokerage Market size is expected to reach USD 325.93 million in 2024 and grow at a CAGR of 6.05% to reach USD 437.24 million by 2029.