• Rising Import and Export activity in future will increase the demand for Kuwait freight forwarding market.
• Kuwait freight forwarding industry is anticipated to grow due to rising e-commerce market with the increase in demand of online shoppers and imported electronic goods in the country.
• Road Freight is by far the most popular medium for moving freight within the country and will continue to grow owing to integration of regional economies.
In Kuwait, demand for freight forwarding will be dominated by oil and gas industry and FMCG industry which include food and beverage industry into it. There will be increase in demand of crude oil at the global level and Kuwait being a major exporter of crude oil among the OPEC countries will led to rise in export activity in the country which will automatically generate higher revenue for the Kuwait freight forwarding market. On the other hand, Kuwait is largely dependent on imports for dairy products, food items, fruits and vegetables. Since, country has a total arable land of 10,600 hectare which is 0.6% of the total area and the soil in Kuwait is low in nutrient and organic content along with it has poor moisture retaining capabilities. This has led to low production capacity which significantly increases the demand for importing vegetables and fruits in the country to meet the food requirement of people in the country.
E-Commerce industry in Kuwait will contribute a significant demand for Freight forwarding as e-commerce market in Kuwait is expected to reach USD 1.1 billion in 2020 owing to the rise in online shoppers. However, e-commerce industry contributes a minimal share in revenue generation for the freight forwarding industry, but with the growth in online shoppers and increasing demand express delivery for imported items in future will contribute a major share in expansion of freight forwarding market. Import of various electronic goods, fashion/apparels products, other grocery items and to delivery these imported goods end users will require more number of transport facility for domestic transportation of goods in future.
Road contributed the least share in generating revenue for the freight forwarding industry as it is generally used for the domestic shipments. in future, the increasing demand for FMCG products will positively increase the demand for domestic freight movement in the country as road remains the most popular medium for transporting goods within the country.
Analysts at Ken Research in their latest publication “Kuwait Freight Forwarding Market Outlook to 2022 – By Sea, Air and Road Freight Movement; By International and Domestic Freight; By Express and Normal Delivery; By Flow Corridors and By End Users (Oil and Gas, FMCG, Construction and Others)” believe that increasing the number of channel points, strengthening infrastructure connections, improving service quality will positively aid Kuwait Freight forwarding market.
Kuwait freight forwarding market is expected to register positive CAGR of around 8.6% during the period 2017-2022. The market is further expected to be driven by expanding industrial activities, growing consumer preference for online shopping, upcoming infrastructure in the country & continuous investment by the government in development of logistics infrastructure and consistent economic growth.
For more information on the research report, refer to below link:
https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/kuwait-freight-forwarding-market/157175-100.html
Key Segments Covered
• Freight Movement
Sea
Air
Road
• Mode of Freight
International Freight
Domestic Freight
• Type of Delivery
Normal Delivery
Express Delivery
• Flow Corridors
Asia
Europe
North America
GCC and Others
• Companies
International Companies
Domestic Companies
• End Users
Oil and Gas
FMCG
Construction
Others
Key Target Audience
• 3PL Companies
• Express Companies
• Sea Freight Companies
• Road Freight Companies
• Air Freight Companies
• Freight Management Companies
• Cargo Insurance and Handling Companies
• Retail Companies
• Manufacturing Companies
Time Period Captured in the Report:
• Historical Period – 2012-2017
• Forecast Period – 2017-2022
Companies Covered:
• Agility Kuwait
• KGL Logistics
• CEVA Logistics
• GAC Logistics
• Hellman Kuwait
• UAGSCO Shipping and Logistics
• DHL Logistics
• ARAMEX Kuwait
• Dolphin Logistics
• Leaders International Shipping
• Enkay Express
• Others (Crown Logistics, Kuwait Logistics and Freight, Mubarrad Transport, Dosmic International, Global Logistics and Alghanim Group of Shipping and Transport)
Related Reports
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Ken Research
Ankur Gupta, Head Marketing & Communications
[email protected]
+91-9015378249
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This release was published on openPR.
