The global freight forwarding market revenue was around US$ 200 billion in 2022 and is estimated to reach US$ 287 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.1% during the forecast period from 2023 to 2031.
Freight forwarding is the process of coordinating, organizing, and shipping products from one place to another across international borders via multiple or single carriers. The product shipment occurs through land, air, and sea. The company reliable for organizing the shipment is known as a freight forwarder.
Market Driving Factors
An increase in the e-commerce industry is estimated to boost the market growth. This is mainly due to the freight forwarders adopting digital technologies to manage the surging customer demand. In addition, they have also begun to utilize the Internet of Things (IoT), artificial intelligence, and other technologies to ensure the timely delivery of products to customers.
The surge in international trade volume transported by ocean and air freight is estimated to boost the market expansion. This is mainly due to the freight forwarding industry being highly dependent on the cargo transported volume. As a result, ocean and air freight forwarding companies have to raise their cargo volume to fulfill the consumer's demand.
Strict emission regulations limit market expansion.
Regional Analysis
Europe dominated the market in terms of the growth rate and is expected to maintain its dominance. This can be primarily attributed to the intermodal transport has acquired importance in European freight forwarding. This approach involves utilizing numerous modes of transportation, such as rail, road, air, and sea, to move products efficiently. Moreover, it provides price savings, lowers environmental impact, and improves overall freight forwarding efficiency, making it an attractive choice for companies who desire to optimize their supply chains.
Asia-Pacific is estimated to dominate the market in terms of the largest shares. This is primarily owing to the increasing e-commerce industry in emerging economies in the region. High government support for logistics infrastructure development in the region is boosting the market. Furthermore, the robust economy of Japan, infrastructure development, and increase in trade facilitation via agreements such as the South Asian Preferential Trade Agreement (SAPTA) are the elements that are estimated to drive the market growth in the region.
Segmentation Insights
Service Insight
The value-added service segment is predicted to dominate the market in terms of the fastest rate. This is mainly owing to the integration of cutting-edge technologies into freight forwarding operations. Technologies like artificial intelligence (AI), the Internet of Things (IoT), and blockchain have empowered freight forwarding providers to provide value-added services like predictive analytics, real-time tracking, and supply chain visibility. These services improve transparency, efficiency, and decision-making within the supply chain.
Mode of Transport Insight
The sea freight forwarding segment dominates the market in terms of the largest shares. This is mainly due to the transportation of bulky & voluminous products. The capability of sea freight to efficiently accommodate significant loads and larger volumes makes it a preferred option for industries dealing with large commodities.
Customer Type Insight
The B2B segment dominates the market in terms of the largest shares. This is mainly due to the involvement in complex supply chain networks. In B2B transactions, the products often go through a difficult journey involving numerous stages, from the sourcing of raw materials to distribution & manufacturing. As a result, freight forwarders play a key role in coordinating these multifaceted processes, which assists in ensuring the seamless movement of products across several regions and modes of transportation. Their expertise in optimizing these complicated supply chains boosts the segment growth.
Prominent Companies
Segmentation Outline
The global freight forwarding market segmentation focuses on the Service, Mode of Transport, Customer Type, End-Use Industry, and Region.
By Service
By Mode of Transport
By Customer Type
By End-Use Industry
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL FREIGHT FORWARDING MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: FREIGHT FORWARDING MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL FREIGHT FORWARDING MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL FREIGHT FORWARDING MARKET, BY SERVICE
5.1 OVERVIEW
5.2 TRANSPORTATION AND WAREHOUSING
5.3 PACKAGING AND DOCUMENTATION
5.4 VALUE-ADDED SERVICES
6 GLOBAL FREIGHT FORWARDING MARKET, BY MODE OF TRANSPORT
6.1 OVERVIEW
6.2 LAND FREIGHT FORWARDING
6.3 SEA FREIGHT FORWARDING
6.4 AIR FREIGHT FORWARDING
7 GLOBAL FREIGHT FORWARDING MARKET, BY CUSTOMER TYPE
7.1 OVERVIEW
7.2 B2B
7.3 B2C
8 GLOBAL FREIGHT FORWARDING MARKET, BY END-USE INDUSTRY
8.1 OVERVIEW
8.2 RETAIL AND E-COMMERCE
8.3 MANUFACTURING
8.4 HEALTHCARE
8.5 AUTOMOTIVE
8.6 OTHERS
9 GLOBAL FREIGHT FORWARDING MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL FREIGHT FORWARDING MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 DEUTSCHE POST DHL
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 NIPPON EXPRESS CO. LTD
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 DSV A/S
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 UBER FREIGHT LLC
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 UNITED PARCEL SERVICE OF AMERICA INC.
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 DIMERCO
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 EXPEDITORS INTERNATIONAL OF WASHINGTON INC.
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8 HELLMANN WORLDWIDE LOGISTICS
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 SCHENKER DEUTSCHLAND AG
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 CEVA LOGISTICS AG
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.11 MGF
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.12 KUEHNE +NAGEL INTERNATIONAL AG
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.13 BOLLORÉ LOGISTICS
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
11.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.14 TRANSPORTECA
11.14.1 OVERVIEW
11.14.2 FINANCIAL PERFORMANCE
11.14.3 PRODUCT OUTLOOK
11.14.4 KEY DEVELOPMENTS
11.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.15 FEDEX
11.15.1 OVERVIEW
11.15.2 FINANCIAL PERFORMANCE
11.15.3 PRODUCT OUTLOOK
11.15.4 KEY DEVELOPMENTS
11.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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