Dublin, Feb. 15, 2019 (GLOBE NEWSWIRE) -- The "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)" report has been added to ResearchAndMarkets.com's offering.
The growth of freight forwarding in Kuwait was supported by development in major industries such as oil and gas, manufacturing, retail, wholesale, construction, agriculture and mining. Expanding FMCG sector, retail sector, food and E-commerce industry in the country has attributed to the growth of the freight forwarding industry in the country. The Kuwait market witnessed the entry of many foreign players as flexible policies were introduced by the government to boost the economic growth of the country. Entry of new players has further aided the demand in the freight forwarding market.
Kuwait Freight Forwarding Market Segmentation
By Freight Movement
Sea (Inland Waterway and maritime) dominated in freight movement in freight forwarding market in 2017 due to major cargo transportation taking place through ocean such as oil and gas. The port of Shuwaikh is the major port used for sea freight and generates highest cargo volume.
Sea is favorable for shipments which have heavy items involving a longer transit time and is a safe means of transporting goods at a reasonable cost. The majority of the industries have been majorly operating near to Shuwaikh port which further drives the demand for industrial freight cargo in the country.
Air contributed second highest revenue share to the freight forwarding market majorly driven by the express shipments in the country. The international shipments also attributed to the freight movement through air. E-commerce market has driven the air freight market in the country. On the other hand, road contributed the least share and is generally used for the domestic shipments.
By Mode of Freight
International freight forwarding dominated the freight forwarding industry in Kuwait owing to the free trade agreements of GCC with European Free Trade Association and Trade and Agreement Framework Agreement with the US. Moreover, Kuwait has signed bilateral investment agreements with nations including Austria, Belarus, China, Croatia, Belgium, Bosnia, Bulgaria, the Czech Republic, Denmark, France, Germany, Hungary, India and others which further boosted international freight forwarding sector. The freight movements prevalent in the international freight forwarding include air and sea for the products and services to be transferred internationally.
By Type of Delivery
Express delivery shipments are time sensitive and the cost is generally higher than the normal delivery. Commercial documents, transport documents, financial documents and government documents involved in international trade such as quotations, sales contract, shipping order, doc receipt and other bills of exchange were observed to be generally traded through express delivery shipment in Kuwait.
By Flow Corridors
Asia flow corridor is the largest contributor in terms of revenue in the freight forwarding market. This growth has been attributed on the account of strategic location and trade strategy of various companies trying to expand their operations in other Asia Pacific countries. It was followed by Europe, North America, GCC and other flow corridors.
By End-User
Oil and Gas industry dominated the end user segment in Kuwait freight forwarding market. Kuwait has been a major supplier and member in the OPEC group. Oil comprises approximately half of Kuwait's GDP. This positively increases the revenue contribution of oil and gas industry in Kuwait freight forwarding market, due to rise in export of crude oil has significantly drive the demand for sea freight and domestic freight in Kuwait. On the other hand, FMCG sector is the second largest end user segment in Kuwait freight forwarding market as Kuwait largely relies on importing goods from other countries rather than manufacturing which automatically increases the use of air and sea freight to import majority of the products from other countries.
Competitive Landscape
The freight forwarding industry in the country is moderately fragmented with the presence of both domestic and international players in the industry. Companies in the Kuwait have been focusing towards providing data oriented solutions and other services for operational excellence, timely customer support and the effective adherence of the consumers' expectations, thus providing customer satisfaction and retain customers.
Kuwait Freight Forwarding Market Future Outlook and Projections
Kuwait will witness construction of many new roads and bridges which will aid against the traffic congestion problem in the country and positively affect the trucking industry, hence aiding the domestic logistics. The freight forwarding industry in the Kuwait will continue to dominate the overall logistics market in the coming years. The government of Kuwait has allocated USD 80 billion budget in the year 2015 for construction and transportation project in the country which will in future aid the cargo transportation industry.
Key Topics Covered:
1. Kuwait Freight Forwarding Market Executive Summary
2. Research Methodology
- Market Definitions
- Abbreviations
- Consolidated Research Approach
- Variables (Dependent and Independent)
- Correlation Matrix
- Regression Matrix
- Limitations and Conclusion
3. Kuwait Freight Forwarding Ecosystem
- Kuwait Freight Forwarding Ecosystem - Supplier Side
- Kuwait Freight Forwarding Ecosystem - Demand Side
4. Kuwait Freight Forwarding Market Timeline and Overview
5. Kuwait Freight Forwarding Volume Handled
- Kuwait Freight Forwarding Volume Handled - Sea
- Kuwait Freight Forwarding Volume Handled - Air
6. Market Size
- Kuwait Freight Forwarding Market Size, 2012-2017
- Kuwait Freight Forwarding Market Segmentation by Freight Movement, 2017
- Kuwait Freight Forwarding Market Segmentation by International and Domestic Freight Forwarding, 2017
- Kuwait Freight Forwarding Market Segmentation by Type of Delivery, 2017
- Kuwait Freight Forwarding Market Segmentation by Flow Corridor, 2017
- Kuwait Freight Forwarding Market Segmentation by International and Domestic Companies, 2017
- Kuwait Freight Forwarding Market Segmentation by End Users, 2017
7. Trends and Developments in Kuwait Freight Forwarding Market
- Kuwait Freight Forwarding Industry Activities
8. Issues and Challenges in Kuwait Freight Forwarding Market
9. SWOT Analysis for Kuwait Freight Forwarding Market
10. Government Role in Kuwait Freight Forwarding Market
- Government Role in Kuwait Freight Forwarding Market - Customs Clearance Process
- Government Role in Kuwait Freight Forwarding Market - Documentary Requirements for Customs
- Government Role in Kuwait Freight Forwarding Market - For Vehicles
- Government Regulations in Freight Forwarding Market for Food Items
11. Competitive Scenario of Kuwait Freight Forwarding Market
- Freight Forwarding Companies Operation in Kuwait
12. Directory of Major Players in Kuwait Freight Forwarding Market
13. Profiles of Major Freight Forwarding Companies
- DHL Kuwait
- ARAMEX Kuwait
- Dolphin Shipping & Logistics
- Leaders International Shipping
- Enkay Express
- Agility Kuwait
- KGL Logistics Kuwait
- CEVA Logistics
- GAC Logistics
- Hellmann Kuwait
- UAGSCO Shipping & Logistics
- Other Company Profiles
14. Kuwait Freight Forwarding Market - Future Outlook and Projections, 2017-2022
- Kuwait Freight Forwarding Market - Future Segmentation by End User and Type of Delivery, 2022
- Kuwait Freight Forwarding Market- Future Segmentation by Freight Movement and International and Domestic Freight, 2022
15. Kuwait Freight Forwarding Market - Analyst Recommendations
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