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Freight Forwarding Market Size, Share & Growth Report | 2031
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Freight Forwarding Market Size, Share & Growth Report | 2031

Segments - Freight Forwarding Market by Service Types (Freight Transportation, Warehousing, Documentation, Packaging, Insurance, and Others), Modes of Transportation (Road, Water, Rail, and Air), Customer Types (B2B and B2C), Applications (Retail & E-Commerce, Manufacturing, Healthcare, Automotive, and Others), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Author : Akash Vedpathak
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Fact-checked by : V. Chandola
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Editor : Shruti Bhat

Upcoming | Report ID :AL-4671 | 4.6 Rating | 75 Reviews | 176 Pages | Format : PDF Excel PPT

Report Description


Freight Forwarding Market Outlook 2031

The global freight forwarding market was valued at USD 200.20 billion in 2022 and is projected to reach USD 284.95 billion by 2031, expanding at a CAGR of 4% during the forecast period, between 2023 to 2031. The driver of the freight forwarding market include growing international trade between different countries worldwide. Developing relations among the emerging economies with an aim to improve trade is expected to propel the freight forwarding market.

Freight forwarding is the transportation and shipment of goods from one location to another through one or more than one modes of transport such as air, marine, or land. It involves business among individuals or companies or between an individual and a company for the delivery of products between two destinations.

Freight Forwarding Market Outlook

Freight forwarding is adopted due to the low-cost facility and simplicity in transportation of logistics. Freight forwarding works on the principle of maintaining the condition of the goods, as it had before loading and travel.

  • Rising trade volumes through e-commerce augments the trading facilities between growing economies, which in turn, is fueling the market.
  • Freight forwarding entities are offering integrated services such as packaging, insurance, and documentation to the end-users, which is driving the market.
  • Development in technologies greatly helps in tracking the shipment of goods across locations thus propelling the market.
  • Strict regulations on emission during the transportation process is anticipated to hinder the market.
  • In international trading, the daily fluctuations of exchange of currency rates in the world is projected to restrain the freight forwarding market.
  • Technological advancements, effective costing, and punctuality in delivering goods with the use of multiple mode of transport creates opportunities for players. Rising value, in terms of volume for the shipment of goods provides opportunities for key players.

Scope of the Freight Forwarding Market Report:

The report on the global freight forwarding market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Freight Forwarding Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016-2021

Forecast Period

2023–2031

Segmentation

Service Types (Freight Transportation, Warehousing, Documentation, Packaging, Insurance, and Others), Modes of Transportation (Road, Water, Rail, and Air), Customer Types (B2B and B2C), and Applications (Retail & E-Commerce, Manufacturing, Healthcare, Automotive, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Kuehne+Nagel International AG, MGF, Nippon Express, Transporteca, United Parcel Services of America, Inc., Bollore Logistics, CEVA Logistics AG, DB Schenker, Deutsche Post DHL, Dimerco, DSV A/S, Expeditors Inc., FedEx, Hellmann Worldwide Logistics, and Uber Freight LLC

Freight Forwarding Market Segment Insights:

Warehousing segment to grow at a significant rate

Based on service types, the freight forwarding market is segmented into freight transportation, warehousing, documentation, packaging, insurance, and others. The warehousing segment accounted for the largest share of the market in 2021 and is expected to grow at a significant pace in the coming years.

Products are stored in warehouses, which are sold afterwards when the demand rises from end-users, which in turn, is anticipated to drive the segment. The transportation segment is also on the track of development and is projected to boost the market growth.

Freight Forwarding Market Service Types

Road transportation to expand at a rapid pace

On the basis of modes of transportation, the market is classified as road, water, rail, and air. In 2021, the road segment held a key share of the market and is anticipated to expand at a rapid pace during the forecast period. Increasing construction of roads within the countries and some inter-countries roads is providing ease in transporting goods through roads and it boosts the segment.

Rising shipment of cargo through waterways owing to developing infrastructure and new ports is fueling the segment.

B2C segment to witness a substantial rise

In terms of customer types, the freight forwarding market is bifurcated into B2B and B2C. The B2C segment is estimated to grow after the pandemic as consumers were directly receiving products from the businesses due the rise in online retail services. The B2B segment experienced some downfall, which provided an opportunity for the B2C segment to grow in the market and provides services, which boosts the segment. These factors are expected to fuel the B2C segment during the forecast period.

Retail & e-commerce held the largest share in the market

Based on applications, the market is segmented into retail & e-commerce, manufacturing, healthcare, automotive, and others. In 2021, the retail & e-commerce segment is estimated to expand at a rapid pace, thus the segment is projected to dominate the market. Inclination of end-users toward online platforms for buying goods and gathering data about the product is propelling the retail & e-commerce segment.

E-commerce is providing an ease in instant information about the availability of goods and in the processing of purchases, which is expected to drive the segment.

Freight Forwarding Market Applications

Asia Pacific to dominate the global market

In terms of regions, the global freight forwarding market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific accounted for a major share of the market, in terms of revenue, and is anticipated to dominate the global market.

The market in the region is growing at a rapid pace owing to growing logistic services and presence of emerging economies such as India, China, Japan, and Australia. Additionally, implementation of laws by governments that support the logistic industry in Asia Pacific is propelling the market. Surging technological developments is driving the freight forwarding market in the region.

Freight Forwarding Market Regions

Segments

The global freight forwarding market has been segmented on the basis of

Service Types

  • Freight Transportation
  • Warehousing
  • Documentation
  • Packaging
  • Insurance
  • Others

Modes of Transportation

  • Road
  • Water
  • Rail
  • Air

Customer Types

  • B2B
  • B2C

Applications

  • Retail & E-Commerce
  • Manufacturing
  • Healthcare
  • Automotive
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Kuehne+Nagel International AG
  • MGF
  • Nippon Express
  • Transporteca
  • United Parcel Services of America, Inc.
  • Bollore Logistics
  • CEVA Logistics AG
  • DB Schenker
  • Deutsche Post DHL
  • Dimerco
  • DSV A/S
  • Expeditors Inc.
  • FedEx
  • Hellmann Worldwide Logistics
  • Uber Freight LLC

Competitive Landscape

Key players in the global freight forwarding market are Kuehne+Nagel International AG, MGF, Nippon Express, Transporteca, United Parcel Services of America, Inc., Bollore Logistics, CEVA Logistics AG, DB Schenker, Deutsche Post DHL, Dimerco, DSV A/S, Expeditors Inc., FedEx, Hellmann Worldwide Logistics, and Uber Freight LLC.

Freight Forwarding Market key players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Freight Forwarding Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Freight Forwarding Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Freight Forwarding Market - Supply Chain
  4.5. Global Freight Forwarding Market Forecast
     4.5.1. Freight Forwarding Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Freight Forwarding Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Freight Forwarding Market Absolute $ Opportunity
5. Global Freight Forwarding Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Freight Forwarding Market Size and Volume Forecast by Applications
     5.3.1. Retail & E-Commerce
     5.3.2. Manufacturing
     5.3.3. Healthcare
     5.3.4. Automotive
     5.3.5. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Freight Forwarding Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Freight Forwarding Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Freight Forwarding Demand Share Forecast, 2019-2026
7. North America Freight Forwarding Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Freight Forwarding Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Freight Forwarding Market Size and Volume Forecast by Applications
     7.4.1. Retail & E-Commerce
     7.4.2. Manufacturing
     7.4.3. Healthcare
     7.4.4. Automotive
     7.4.5. Others
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Freight Forwarding Demand Share Forecast, 2019-2026
8. Latin America Freight Forwarding Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Freight Forwarding Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Freight Forwarding Market Size and Volume Forecast by Applications
     8.4.1. Retail & E-Commerce
     8.4.2. Manufacturing
     8.4.3. Healthcare
     8.4.4. Automotive
     8.4.5. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Freight Forwarding Demand Share Forecast, 2019-2026
9. Europe Freight Forwarding Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Freight Forwarding Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Freight Forwarding Market Size and Volume Forecast by Applications
     9.4.1. Retail & E-Commerce
     9.4.2. Manufacturing
     9.4.3. Healthcare
     9.4.4. Automotive
     9.4.5. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Freight Forwarding Demand Share Forecast, 2019-2026
10. Asia Pacific Freight Forwarding Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Freight Forwarding Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Freight Forwarding Market Size and Volume Forecast by Applications
     10.4.1. Retail & E-Commerce
     10.4.2. Manufacturing
     10.4.3. Healthcare
     10.4.4. Automotive
     10.4.5. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Freight Forwarding Demand Share Forecast, 2019-2026
11. Middle East & Africa Freight Forwarding Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Freight Forwarding Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Freight Forwarding Market Size and Volume Forecast by Applications
     11.4.1. Retail & E-Commerce
     11.4.2. Manufacturing
     11.4.3. Healthcare
     11.4.4. Automotive
     11.4.5. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Freight Forwarding Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Freight Forwarding Market: Market Share Analysis
  12.2. Freight Forwarding Distributors and Customers
  12.3. Freight Forwarding Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Kuehne+Nagel International AG
     12.4.2. MGF
     12.4.3. Nippon Express
     12.4.4. Transporteca
     12.4.5. United Parcel Services of America, Inc.
     12.4.6. Bollore Logistics
     12.4.7. CEVA Logistics AG

Methodology

Our Clients

Nestle SA
FedEx Logistics
Siemens Healthcare
Honda Motor Co. Ltd.
General Electric
Microsoft
The John Holland Group
Pfizer