The shipping agency services market is evolving as a cornerstone of global trade and maritime logistics. Acting as vital intermediaries between shipowners, ports, and other stakeholders, shipping agents facilitate vessel operations, port clearance, documentation, crew management, and cargo handling. Their services ensure regulatory compliance, streamlined logistics, and efficient cargo movement across international borders.
According to recent analysis, the shipping agency services market is projected to expand from USD 327.97 billion in 2024 to USD 794.41 billion by 2034, at a CAGR of 9.25% during 2025–2034.
Market Highlights
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North America led the market in 2025 with the highest revenue share.
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Asia Pacific is expected to grow at the fastest CAGR during the forecast period.
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Container services dominated by service type, while cargo handling services are projected to expand rapidly.
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By agency type, cargo agencies held the largest share, while port agencies are poised for robust growth.
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Key Market Trends (2025)
Trade Liberalization and Globalization
Rising global trade volumes and liberalized policies are fueling demand for shipping agents who optimize logistics chains and ensure smooth cross-border trade.
Environmental Sustainability
Shipping agencies are adopting eco-friendly practices and complying with IMO conventions to minimize emissions and environmental impact.
Government Investments
Governments worldwide are investing heavily in port infrastructure. For instance, India announced USD 82 billion investment in 2024 to modernize ports.
Market Drivers
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Digitalization and Automation: Enhances efficiency and real-time monitoring.
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Data Analytics and Predictive Insights: Supports better vessel planning and cargo operations.
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E-commerce Integration: Seamless collaboration across supply chains boosts agency services demand.
Market Challenges
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Port Congestion & Infrastructure Limits: Delays in major hubs disrupt supply chains.
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Complex Regulatory Compliance: Shipping agents face challenges navigating varied customs and documentation requirements.
Service Type Insights
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Container Services: Largest segment in 2025 due to widespread adoption of containerized transport.
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Cargo Handling: Expected to grow fastest, driven by rising global trade and logistics demand.
Agency Type Insights
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Cargo Agencies: Leading segment due to advanced shipping solutions and adoption of cargo insurance services.
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Port Agencies: Anticipated to grow significantly, driven by digital port management systems and cloud-based solutions.
Regional Insights
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North America: Dominated the market in 2025 due to strong e-commerce growth, efficient ports, and high import demand.
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Asia Pacific: Fastest-growing market, fueled by export growth in China, India, Japan, and South Korea, along with government-led port expansions.
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Competitive Landscape
The shipping agency services industry is fragmented, with both global giants and regional players competing for market share. Companies are pursuing mergers, acquisitions, partnerships, and technological innovations to stay competitive.
Top Companies in the Market
1. CEVA Logistics
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About: A global logistics and supply chain management company headquartered in France.
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Products/Services: Freight management, contract logistics, shipping agency services, e-commerce logistics.
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Market Cap: Estimated at USD 3.5 billion.
2. CMA CGM Group
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About: One of the world’s largest container shipping companies, based in France.
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Products/Services: Container shipping, cargo handling, port terminal operations, logistics.
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Market Cap: Approximately USD 15.6 billion.
3. Hutchison Ports
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About: A leading global port operator headquartered in Hong Kong.
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Products/Services: Port and terminal operations, shipping agency services, cargo logistics.
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Market Cap: Estimated at USD 20 billion (part of CK Hutchison Holdings).
4. Kuehne + Nagel
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About: A Switzerland-based logistics company with operations in over 100 countries.
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Products/Services: Sea freight, air freight, contract logistics, integrated shipping agency solutions.
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Market Cap: Around USD 30 billion.
5. DP World
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About: A global leader in port operations and supply chain solutions, headquartered in Dubai.
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Products/Services: Port terminals, cargo logistics, maritime services, digital supply chain solutions.
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Market Cap: Estimated at USD 25 billion.
Recent Developments
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May 2025: Inland Waterways Authority of India signed an MoU with Rhenus Logistics for barge cargo services.
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Feb 2025: CMA CGM launched BIGEX 3 and BIGEX 4, enhancing connectivity between India and the Middle East.
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Jan 2025: Verisk introduced CargoNet RouteScore API to strengthen cargo theft protection.
FAQs
Q1. What is the current market size of the shipping agency services market?
The market size is estimated at USD 327.97 billion in 2024 and expected to reach USD 794.41 billion by 2034.
Q2. Which region dominates the shipping agency services market?
North America led the market in 2025 due to high e-commerce activity and robust port infrastructure.
Q3. Which service type is expected to grow fastest?
Cargo handling services are expected to grow at the fastest CAGR during the forecast period.
Q4. Who are the top players in the market?
Major players include CEVA Logistics, CMA CGM Group, Hutchison Ports, Kuehne + Nagel, and DP World.
Q5. What are the key challenges in the shipping agency services industry?
Port congestion, infrastructure constraints, and regulatory compliance remain the primary challenges.
Source : https://www.towardsautomotive.com/insights/shipping-agency-services-market-sizing
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