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Global Freight Forwarding Market – Industry Trends and Forecast to 2030

Semiconductors and Electronics

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Global Freight Forwarding Market – Industry Trends and Forecast to 2030

  • Semiconductors and Electronics
  • Upcoming Report
  • Oct 2023
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Freight Forwarding Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 8,353.80 USD Million
Diagram Market Size (Forecast Year) USD 14,461.05 USD Million
Diagram CAGR %

Major Markets Players

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Global Freight Forwarding Market, By Service Type (Freight Transportation, Warehousing, Documentation, Packaging, Insurance, Others), Mode of Transportation (Road, Waterways, Rail, Air), Logistics Model (First Party Logistics, Second Party Logistics, Third Party Logistics), Customer Type (B2C, B2B), Application (Industrial and Manufacturing, Retail, Healthcare, Media and Entertainment, Military, Oil and Gas, Food and Beverages, Others) - Industry Trends and Forecast to 2030.

Freight Forwarding Market

Freight Forwarding Market Analysis and Size

The global freight forwarding market is segmented on the basis of service type, mode of transportation, logistics model, customer type and application. Freight forwarding is a business that establishes shipments for personnel or corporations to get goods from the manufacturer to a customer or a final distribution point. In addition to this, rise in trend of intermodal freight will further aggravate the growth of the freight forwarding market.

Data Bridge Market Research analyses that the global freight forwarding market is expected to reach USD 14,461.05 million by 2030, from  USD 8,353.8 million in 2022 and is expected to undergo a CAGR of 7.1% during the forecast period of 2023 to 2030. “Freight Transportation” dominates the service type segment of the global freight forwarding market due to rise in trend of intermodal freight. Increased need for less expensive shipping is expected to influence the growth of freight forwarding market over the forecast period of 2023 to 2030. The rise in demand for connect devices across the globe is one of the major factors driving the growth of the freight forwarding market. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Freight Forwarding Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Service Type (Freight Transportation, Warehousing, Documentation, Packaging, Insurance, Others), Mode of Transportation (Road, Waterways, Rail, Air), Logistics Model (First Party Logistics, Second Party Logistics, Third Party Logistics), Customer Type (B2C, B2B), Application (Industrial and Manufacturing, Retail, Healthcare, Media and Entertainment, Military, Oil and Gas, Food and Beverages, Others)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)

Market Players Covered

Agility (Kuwait), DHL International GmbH. (Germany), DSV (Denmark), Expeditors International of Washington, Inc. (U.S.), CEVA Logistics (U.K.), DB Schenker (Germany), Kuehne + Nagel (Switzerland), Bolloré Logistics (France), PANALPINA WORLD TRANSPORT (HOLDING) LTD. (Switzerland), Sinotrans India Private Limited (India), CMA CGM (France), C.H. Robinson Worldwide, Inc. (U.S.), Nippon Express (Japan), Dachser (Germany), DIMERCO (India), CJ Logistics Corporation (South Korea), Hellmann Worldwide Logistics (Germany) and GEODIS. (France), among others

Market Opportunities

  • Rise in trend of intermodal freight transportation
  • Increased need for less expensive shipping
  • Surge in number of warehouse developments in the advancing countries

Market Definition

Freight forwarding is a business that establishes shipments for personnel or corporations to get goods from the manufacturer to a customer or a final distribution point. Freight forwarders customize to reduce expenses and aiding the logistics of transportation.

Global Freight Forwarding Market Dynamics

Drivers

  • Rise in Logistics Services

The increased need for less expensive shipping, the capability to recognize the consumer’s demands, and reply rapidly with logistics services is one of the major factors driving the growth of the freight forwarding market. Furthermore, an increase in the trade agreements between nations also aid in the rising in the growth of the freight forwarding market.

  • Growth in E-Commerce Sector

The swift growth and growing of acceptance of e-commerce across the globe owing to the increased purchasing capabilities of the population accelerate the market growth. The increase in the incidences of inter-country trade and the rising need for low-cost trade solutions from several users assist in expanding the market.

  • Increase in Warehouses

The surge in warehouse developments in the advancing countries further influences the market. The rise in need from the manufacturing industry for supply and demand chains has a positive impact on the growth of the market.

In addition, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the freight forwarding market.

Opportunity

  • Rise in intermodal freight transportation

Furthermore, the rise in intermodal freight transportation and technological developments in freight forwarding solutions extend profitable opportunities to the market players in the forecast period of 2023 to 2030. Also, increase in the cargo volume will further expand the market.

Restraint/Challenge

  • Rise in Incidences of Nearshoring Manufacturing Actions

On the other hand, the rise in incidences of nearshoring manufacturing actions around the world, which is to conclude in the absence of acceptance of trade activities, is expected to obstruct market growth. Also, the rise in reshoring and nearshoring manufacturing is projected to challenge the freight forwarding market in 2023 to 2030.

Recent Development

  • In February 2021, Kuehne + Nagel signed a binding agreement to acquire Apex International Corporation (Apex),. The agreement aims to deliver customers a compelling proposition in the Asian logistics industry for e-commerce fulfillment.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Freight Forwarding Market Scope

The global freight forwarding market is segmented on the basis of service type, mode of transportation, logistics model, customer type and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Service Type

  • Freight Transportation
  • Warehousing
  • Documentation
  • Packaging
  • Insurance
  • Others
  • Value Added Services
  • Custom Clearance
  • Inventory Management

Mode of Transportation

  • Road
  • Waterways
  • Rail
  • Air

Logistics Model

  • First Party Logistics
  • Second Party Logistics
  • Third Party Logistics

Customer Type

  • B2C
  • B2B

Application

  • Industrial and Manufacturing
  • Retail
  • Healthcare
  • Media and Entertainment
  • Military
  • Oil and Gas
  • Food and Beverages
  • Others
  • Agro Commodities
  • Government And Public Utilities
  • Fertilizer
  • Jewelry

Global Freight Forwarding Market Region Analysis/Insights

The global freight forwarding market is analyzed and market size insights and trends are provided by service type, mode of transportation, logistics model, customer type and application, as referenced above.

The regions covered in the global freight forwarding market are North America, South America, Europe, Asia-Pacific, and the Middle East and Africa. The countries covered in the global freight forwarding market report are U.S., Canada, Mexico, Brazil, Argentina, the Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa

North America dominates the global freight forwarding market because North America is home to renowned research institutions, universities, and technology companies that conduct cutting-edge research in photonics and integrated circuit technologies. This strong R&D ecosystem fosters innovation and drives advancements in freight forwarding circuits.

Asia-Pacific is expected to be fastest-growing country in the global freight forwarding market due to the Asia-Pacific region has a large and rapidly growing population, along with a significant increase in internet usage and data consumption. This drives the demand for high-speed and efficient communication networks, which can benefit from the use of freight forwarding circuits. PICs are capable of integrating multiple optical components on a single chip, making them well-suited for high-speed data transmission and communication applications.

The region section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.   

Competitive Landscape and Global Freight Forwarding Market Share Analysis

The global freight forwarding market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global freight forwarding market.

Some of the major players operating in the global freight forwarding market are:

  • Agility (Kuwait)
  • DHL International GmbH. (Germany)
  • DSV (Denmark)
  • Expeditors International of Washington, Inc. (U.S.)
  • CEVA Logistics (U.K.)
  • DB Schenker (Germany)
  • Kuehne + Nagel (Switzerland)
  • Bolloré Logistics (France)
  • PANALPINA WORLD TRANSPORT (HOLDING) LTD. (Switzerland)
  • Sinotrans India Private Limited (India)
  • CMA CGM (France)
  • C.H. Robinson Worldwide, Inc. (U.S.)
  • Nippon Express (Japan)
  • Dachser (Germany)
  • DIMERCO (India)
  • CJ Logistics Corporation (South Korea)
  • Hellmann Worldwide Logistics (Germany)
  • GEODIS. (France)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

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FREQUENTLY ASK QUESTIONS

The freight forwarding market size will be worth USD 14,461.05 million by 2030.
The growth rate of the freight forwarding market is 7.1% in the forecast period by 2030.
Rise in logistics services, growth in the e-commerce sector & surge in warehouse developments are the growth drivers of the freight forwarding market.
Service type, mode of transportation, logistics model, customer type, and application are the factors on which the freight forwarding market research is based.
Major companies in the freight forwarding market are Agility (Kuwait), DHL International GmbH. (Germany), DSV (Denmark), Expeditors International of Washington, Inc. (U.S.), CEVA Logistics (U.K.), DB Schenker (Germany), Kuehne + Nagel (Switzerland), Bolloré Logistics (France), PANALPINA WORLD TRANSPORT (HOLDING) LTD. (Switzerland), Sinotrans India Private Limited (India), CMA CGM (France), C.H. Robinson Worldwide, Inc. (U.S.), Nippon Express (Japan), Dachser (Germany), DIMERCO (India), CJ Logistics Corporation (South Korea), Hellmann Worldwide Logistics (Germany) and GEODIS. (France), among others
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