Freight Forwarding Market
The freight forwarding market is estimated to be valued at US$ 176.12 billion in 2024 and is expected to reach US$ 245.31 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 4.8% from 2024 to 2031.
Introduction:
The global freight forwarding market refers to the services provided by freight forwarders to facilitate the transportation and logistics of shipments from one destination to another. Freight forwarders manage a complex network of logistics to handle transportation through different modes such as sea, air, road, and rail as per the needs of customers. They take on responsibilities like customs clearance, warehousing, and tracking of shipments during transit. With increasing globalization and outsourcing of manufacturing, the demand for efficient trade logistics has grown, thereby propelling the freight forwarding industry.
Market Dynamics:
The global freight forwarding market is driven by the robust growth in international trade volumes over the past few decades. Lower tariff barriers and emergence of free trade agreements between countries have boosted global commerce. Rising outsourcing and offshoring activities particularly from developed nations has augmented cross-border movement of goods. However, factors like uncertainties arising from global trade policies, supply chain disruptions, and fluctuations in fuel prices pose challenges to stable operations. Meanwhile, opportunities exist in areas such as multimodal transportation, technological upgrades, and expansion into emerging trade corridors.
Key Features of the Study:
- This report provides in-depth analysis of the global freight forwarding market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global freight forwarding market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Agility Logistics, Bolloré Logistics, CEVA Logistics (a subsidiary of CMA CGM), C.H. Robinson Worldwide Inc., DB Schenker, DHL (part of Deutsche Post AG), DSV, Expeditors International of Washington, Inc., FedEx Corporation, GEODIS, Hellmann Worldwide Logistics, Kerry Logistics Network Limited, Kuehne+Nagel Inc., Maersk, Nippon Express Co., Ltd., Panalpina (part of DSV), Sinotrans Limited, UPS (United Parcel Service of America, Inc.), Yusen Logistics Co., Ltd., and XPO Logistics, Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global freight forwarding market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global freight forwarding market
Detailed Segmentation-
Table of Contents
*Browse 60 market data tables and 40 figures on "Global Freight Forwarding Market - Global forecast to 2031”
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