According to the report by Expert Market Research (EMR), the [FURL=https://bityl.co/Rs9k]United States Customs Brokerage Market Size[/FURL] reached a value of nearly USD 3.99 billion in 2023. Aided by the increasing complexity of global trade and the stringent regulations governing international imports and exports, the market is projected to grow at a CAGR of 4.2% between 2024 and 2032 to reach a value of around USD 5.81 billion by 2032.Customs brokers play a critical role in facilitating international trade by ensuring that goods move smoothly, efficiently, and legally across international borders. They assist businesses in meeting the federal requirements of the United States, including the management of import duties and taxes, thus preventing costly delays, fines, and penalties. Moreover, as trade agreements and regulations continue to evolve, the demand for knowledgeable and skilled customs brokers is expected to increase further in the coming years.
The United States customs brokerage market growth is primarily driven by several key factors. Firstly, the expansion of e-commerce has dramatically increased the volume of international shipments, including small parcels, which require efficient and effective customs clearance processes. This surge in cross-border e-commerce transactions is pushing businesses to rely more on customs brokers to navigate the complex landscape of international trade.
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Secondly, ongoing changes in trade policies and regulatory environments, such as those seen during trade negotiations and reforms, are complicating customs procedures. This environment has made the expertise offered by customs brokers more crucial than ever. Businesses are seeking the support of experienced brokers to manage compliance with the ever-changing regulations and to mitigate risks associated with global trade. This is expected to drive the United States customs brokerage market expansion.
Furthermore, technological advancements in trade-related processes are also propelling the United States customs brokerage market forward. The integration of IT systems and blockchain technology into the customs brokerage process is enhancing the efficiency and transparency of customs operations. These innovations help in streamlining documentation, reducing the time and cost associated with customs processes, and improving the accuracy of data submitted to customs authorities.
Competitive Landscape of United States Customs Brokerage Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States customs brokerage market. Some of the major players explored in the report by Expert Market Research are as follows:
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.
Livingston International Inc.
Others