Middle East and Africa Freight & Cargo Market is Set to Grow at a Cagr of Around 4.37% by 2027, Owing to Increasing Demand for Logistics Across Various Industry Verticals: Says Absolute Markets Insights

Some of the major players operating in the Middle East and Africa freight & cargo market are Agility, Al-Futtaim Logistics, Ardian Global Express LLC, CEVA Logistics, DHL International GmbH, Dolphin Shipping & Logistics

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Absolute Markets Insights

Jan 29, 2020, 10:00 ET

PUNE, Jan. 29, 2020 /PRNewswire/ -- Freight and Cargo services have become a lucrative business in Middle East and Africa. These services have also allowed consumers to avail products of their choice without the hassle of traveling to the store to receive the same. The positioning of the Middle East and African region provides it with an advantage of being a connecting medium for products and services traveling eastward or westward. This provides market participants with ample opportunities to deploy their services across a wide range of requirements from the two sides. The growing investments in transportation technology are also expected to aid in improving awareness regarding the offerings, thereby, fuelling Middle East and Africa freight & cargo market.

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The rapid growth in E-commerce sector across the world has helped the logistics industry to become the backbone of the product dispatch cycle. Customizable offerings with respect to transporting products is also expected to fuel the growth of the market during the forecast period. Business users and organizations would utilize the market offerings in an enhanced manner owing to the growth in investments from the public and private sectors across the region. This is expected to provide the market with a steady inflow of requirements for freight and cargo management. Market participants are expected to integrate technological solutions in their logistic offerings in order to provide analytics and automation across the logistic procedures. Middle East and Africa freight & cargo market is observed to generate revenue of USD 224.14 Bn in the year 2019 and is expected to reach USD 315.56 Bn in the year 2027, growing at a CAGR of 4.37% over the forecast period.

"The demand for cargo logistics from across the world is expected to grow over the forecast period. Increasing investments from market participants to ensure timely deliveries of consignments allows the companies to maintain high-quality standards. Growing investments in the retail sector is expected to help in improving the demand for the services offered in the market."

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The detailed research study provides qualitative and quantitative analysis of the Middle East and Africa freight & cargo market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across the region and further, across all the major countries. The supply side analysis covers regional production volume and capacity analysis. The geographical analysis done emphasizes on each of the major countries across the Middle East and Africa.

Key report suggestions-

Customs clearance and compliance are some of the major revenue-generating services under the market. Failing to pay customs fees, the user cannot bring in any products from their desired countries into their country. Also, compliance services with respect to freight management help providers to maintain the integrity of the products while ensuring timely delivery of the products.
Express delivery concept is expected to grow in terms of adoption over the forecast period. The improvements in the transportation sector across the region coupled with innovative service offerings from the market participants would aid the growth of the segment.
The country of Kuwait is expected to generate revenues at the fastest rate in the overall region. The proliferation of technological integration in supply chain operations coupled with conducive government initiatives in the region is attributed to be major factors for market growth.
Some of the major players operating in the Middle East and Africa freight & cargo market are Agility, Al-Futtaim Logistics, Ardian Global Express LLC, CEVA Logistics, DHL International GmbH, Dolphin Shipping & Logistics, Expeditors International of Washington, Inc., GAC, Greenways Logistics Intl, Hellmann Worldwide Logistics WLL, JEEZANCARGO, Leaders International Shipping Co., Logistica Company, Macvins Freight Solutions, Rhenus Logistics Ltd., Sharaf Shipping, Super Middle East (SME), Transcrate, UAGSCO Shipping & Logistics, and YUSEN LOGISTICS CO., LTD.IK amongst others.
Market participants are increasing their investments in product development in order to provide comprehensive cargo fleet services.

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Middle East and Africa Freight & Cargo Market-

By Mode

Air
Marine
Rail
Road
Multimodal

By Service

Customs Clearance and Compliance
Insurance
Storage and Packaging
Inventory Management
Booking Management
Carrier Management
Logistics Design
Others

By Delivery

Normal
Express

By Industry Vertical

Aerospace
Automotive
FMCG
Pharmaceuticals and Healthcare
Manufacturing
Energy and Utilities
Retail
Technology
Ohers

By Regional Coverage

Domestic
International

By Country

Middle East and Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of Middle East and Africa

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SOURCE Absolute Markets Insights