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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
United States Customs Brokerage Market Size
The United States customs brokerage market size reached approximately USD 3.99 billion in 2023. The market is estimated to grow at a CAGR of 4.2% in the forecast period of 2024-2032, reaching a value of around USD 5.81 billion by 2032.
Key Trends in the Market
Customs brokerage is a process of handling import, export, tariffs, customs laws, and other regulations for the clearance of goods before shipments across borders. Customs brokerage services can be offered by independent contractors, freight forwarders, and governments, among other agencies.
- The growing complexity of customs regulations is boosting the demand for expert customs brokers who can navigate through the stringent regulations seamlessly, hence driving the United States customs brokerage market growth. Expert customs brokers stay updated with the latest customs laws to help companies avoid penalties, manage all the processes efficiently, and mitigate overall business risks during international or cross-border trades.
- Increased deployment of advanced technologies such as data analytics and process automation to simplify the customs clearance process is another prominent trend boosting the United States customs brokerage market expansion. Data analytics can offer valuable insights into international trade patterns for risk assessment and informed decision making whereas process automation can automate several customs processes such as data entry and documentation to save time, free up resources, and reduce the risk of human error.
- Growing acquisitions and mergers between market players to expand their customs brokerage capabilities are also expected to support the United States customs brokerage market demand in the coming years. For example, in November 2023, Kuehne Nagel, a US-based logistics company, acquired Farrow, a Canada-based customs brokerage company, to ease up the customs clearance process at the Canada-USA and Mexico-USA border.
United States Customs Brokerage Market Report Snapshots
United States Customs Brokerage Market Size
United States Customs Brokerage Market Share
United States Customs Brokerage Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 3.99 billion.
The market is projected to grow at a CAGR of 4.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 5.81 billion by 2032.
The major market drivers are the rise of global trade, the robust growth of the e-commerce sector, and increased demand for logistics services.
The key trends of the market include the growing complexity of customs regulations, increased integration of advanced technologies in customs brokerage, and growing acquisitions and mergers between the market players to expand their customs brokerage capabilities.
The major regions in the market are New England, the Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
Different modes of transport are sea, air, and cross border land transport.
The key players in the market are United Parcel Service, Inc., FedEx Corp., Deutsche Post AG, Kuehne and Nagel International AG, CMA CGM Group (CEVA), C.H. Powell Company, Schenker AG, C.H. Robinson Worldwide, Inc., Expeditors International of Washington, Inc., and Livingston International Inc., among others.
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