Kenya Freight Forwarding Market Growth Forecast: Ken Research
On the back of the new Standard Gauge Railway and improving foreign trade ties, the logistics sector in Kenya experienced high growth in 2018.
Analysts at Ken Research in their the latest publication “Kenya Freight Forwarding Market Outlook to 2023 – By Sea, Land, Air, Rail and Pipeline Freight Forwarding; International and Domestic Freight, Integrated and Contract Logistics Freight Forwarding” believe that the Freight Forwarding market has grown due to rising government spending, increasing volumes of imports and exports and the convenient geographical placement of Kenya. The market is expected to grow at a CAGR of 10.5% during 2019-2023.
Strategic Location: Kenya is the world’s gateway to East Africa and its capital Nairobi is one of the most vibrant international trading hubs in Africa. Mombasa Port is crucial for international trade for not just Kenya but other neighboring landlocked countries such as Uganda. A new Lamu Port is under development along with a LAPSSET Corridor, which is expected to further open up Kenya to international trade.
Infrastructure Development: Improving infrastructure in the country happens to be a key growth driver for the logistics industry of the county. The government of Kenya has allocated approximately USD 2.5 billion for the transport developmental projects. The willingness of international players to enter the market has made Kenya step up their logistics infrastructure and spending.
Focus on International Trade: For an import oriented country like Kenya it is all the more crucial to participate in international initiatives towards trade relations. Kenya is a member of COMESA and the EAC along with having signed various trade agreements like ACP, AGOA, and AfCFTA. Therefore Kenya has free access to the entire African market as well as the Asian, European and North American markets for a number of goods.
Ease of Doing Business: Kenya has a stable political climate and cheap labor availability. Factors such as these and a number of reforms related to credit access, taxes, construction permits, make Kenya a lucrative destination for new entrants.
Technological Advancement: While GPS and Control Towers are standard practices in logistics in developed countries, it is employed by only big domestic players and international companies in Kenya. Supply chain visibility has become an increasing demand of clients and freight forwarders in Kenya are also stepping up to new technologies.
Key Segments Covered:-
Freight Forwarding Market
By Mode of Freight
Road Freight (Revenue, Transport Costs)
Rail Freight (Revenue, Volume, Stock of Transport Equipments, Railway Lines, Tariff and Volume Discounts
Air Freight (Revenue, Volume, Flow Corridors, Clearing & Forwarding Charges, Export/Import Rates)
Sea Freight (Revenue, Number of Ships & Containers, Volume, Principal Commodities, Clearing & Forwarding Charges)
Pipeline (Revenue, Throughput Volume)
By Type of Freight
International Freight Revenue
Domestic Freight Revenue
By Flow Corridors (Revenue, Volume of Trade, Principal Commodities)
By Contract and Integrated
Contract Logistics Revenue
Integrated Logistics Revenue
By End User Revenue
Food and Beverages
Others (Construction, Chemical, Automotive and others)
Key Target Audience
Freight Forwarding Companies
E-Commerce Logistics Companies
Express Delivery Logistics Companies
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2019-2023
Key Topics Covered in the Report:-
Logistics Infrastructure in Kenya
Kenya Freight Forwarding Market Overview
Kenya Freight Forwarding Market Size
Kenya Freight Forwarding Market Segmentation
Competitive Scenario in Kenya Freight Forwarding Market
Company Profiles of Major Players in Kenya Freight Forwarding Market
Kenya Freight Forwarding Market Future Outlook and Projections
Kenya Freight Forwarding Future Market Size
Kenya Freight Forwarding Market Future Segmentation
For More Information, Refer To Below Link:-
Related Reports by Ken Research:-
South Africa Logistics Market Outlook to 2023 – By Sea, Land, Air Freight Forwarding; International and Domestic Freight, Integrated and Contract Logistics Freight Forwarding; By Warehousing (Industrial/ Retail, ICD/CFS, Cold Storage, Others), 3PL Warehousing, Cold Chain; By Express Logistics and E-commerce Logistics
Ankur Gupta, Head Marketing & Communications