Freight forwarding Global Market to Reach $285.15 Billion by 2031 from $192.5 Billion in 2021 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Freight forwarding Market By Service, By Mode of Transport, By Customer Type, By End-use Industry: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
The freight forwarding market was valued at $192.50 billion in 2021, and is estimated to reach $285.15 billion by 2031, growing at a CAGR of 4.1% from 2022 to 2031.
Freight forwarders manage risks and benefits of shipping, both nationally and internationally by performing required tasks such as freight rate negotiations, container tracking, customs documentation, and freight consolidation. Moreover, freight forwarding comprises numerous stages such as export haulage, export customs clearance, origin handling, import customs clearance, destination handling, and import haulage.
Significant factors impacting growth of the global freight forwarding market include growth in international trade, expansion of the e-commerce industry globally, and rise in the free trade agreements between nations. Moreover, growth of the global market is affected by stringent emission regulations. Furthermore, technological advancements cost cutting and lead time reduction due to adoption of multi-modal system influence the market growth.
A free trade agreement (FTA) is an agreement between two or more countries under which countries agree on certain terms & conditions that affect trade in goods and services. The signing of free trade agreements facilitates better trade between two parties and results in rise in import-export activities, which boosts development of the entire logistics ecosystem.
Reduction or elimination of tariffs, intellectual property protection, and fair treatment of investors are some of the important advantages of free trade agreements. In addition, the U.S. currently has 14 free trade agreements with 20 countries in force. For the U.S., the main aim of trade agreement is to reduce barriers to U.S. exports, protect U.S. interests competing abroad, and enhance rule of law in the FTA partner country or countries.
The freight forwarding market is segmented on the basis of service, mode of transport, logistics model, customer type, end-use industry, and region. By service, it is categorized into transportation & warehousing, packaging & documentation, and value-added services. By mode of transport, it is classified into air freight forwarding, sea freight forwarding, and land freight forwarding. By customer type, it is bifurcated into B2B and B2C. By end-use industry, it is fragmented into retail & e-commerce, manufacturing, healthcare, automotive, and others. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the freight forwarding market analysis from 2021 to 2031 to identify the prevailing freight forwarding market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the freight forwarding market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global freight forwarding market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Service
- Transportation and Warehousing
- Packaging and Documentation
- Value-added Services
By Mode of Transport
- Land Freight Forwarding
- Sea Freight Forwarding
- Air Freight Forwarding
By Customer Type
- B2B
- B2C
By End-use Industry
- Retail and E-Commerce
- Manufacturing
- Healthcare
- Automotive
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Kuehne+Nagel International AG
- MGF
- Nippon Express Co., Ltd.
- Transporteca
- United Parcel Service of America, Inc.
- Bollore Logistics
- CEVA Logistics AG
- Schenker Deutschland AG
- Deutsche Post DHL
- Dimerco
- DSV A/S
- Expeditors International of Washington, Inc.
- FedEx
- Hellmann Worldwide Logistics
- Uber Freight LLC
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FREIGHT FORWARDING MARKET, BY SERVICE
CHAPTER 5: FREIGHT FORWARDING MARKET, BY MODE OF TRANSPORT
CHAPTER 6: FREIGHT FORWARDING MARKET, BY CUSTOMER TYPE
CHAPTER 7: FREIGHT FORWARDING MARKET, BY END-USE INDUSTRY
CHAPTER 8: FREIGHT FORWARDING MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/plf7cz
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