Freight Forwarding Market
Freight forwarding is a business that establishes shipments for personnel or corporations to get goods from the manufacturer to a customer or a final.
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Global Freight Forwarding Market was valued at USD 7.80 billion in 2022 and is expected to reach USD 13.50 billion by 2029, registering a CAGR of 7.10% during the forecast period of 2022-2029. Waterways is expected to witness high growth in the mode of transportation segment of the market owing to the developments in infrastructure and services by the e-commerce industry. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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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.
Market Analysis and Size
Freight forwarding has been highly influential in the supply and chain sector, such as supplying cargo insurance, warehouse planning, and others. Air and ocean freight forwarding companies are increasing their cargo volume to cater the growing demand of their consumers.
Recent Developments
Kuehne + Nagel signed a binding agreement to acquire Apex International Corporation (Apex), in February’2022. The agreement aims to deliver customers a compelling proposition in the Asian logistics industry for e-commerce fulfillment.
Some of the major players operating in the freight forwarding market are
Agility (Kuwait)
DHL International GmbH. (Germany)
DSV (Denmark)
Expeditors International of Washington, Inc. (US)
CEVA Logistics (UK)
DB Schenker (Germany)
Kuehne + Nagel (Switzerland)
Bolloré Logistics (France)
PANALPINA WORLD TRANSPORT (HOLDING) LTD. (Switzerland)
Sinotrans India Private Limited (India)
CMA CGM (France)
H. Robinson Worldwide, Inc. (US)
Nippon Express (Japan)
Dachser (Germany)
DIMERCO (India)
CJ Logistics Corporation (South Korea)
Hellmann Worldwide Logistics (Germany)
Global Freight Forwarding Market: Segment Analysis
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
Freight Forwarding Market Regional Analysis/Insights
The freight forwarding market is analyzed and market size insights and trends are provided by country, service type, mode of transportation, logistics model, customer type and application.
The countries covered in the freight forwarding market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the freight forwarding market due to the increasing number of customers choosing to purchase online within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the growth of industrialization, the increasing number of developing countries, and acceptance of online e-commerce portals in the region.
In addition, the years considered for the study are as follows:
REPORT METRIC DETAILS
Forecast Period: 2022 to 2029
Base Year: 2021
Historic Years: 2020 (Customizable to 2014- 2019)
Quantitative Units: Revenue in USD Billion, Volumes in Units, Pricing in USD
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The 2022 Annual Freight Forwarding Market offers:
100+ charts exploring and analyzing the Freight Forwarding market from critical angles including retail forecasts, consumer demand, production and more
10+ profiles of top Freight Forwarding producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Freight Forwarding type
Rapid Business Growth Factors
In addition, the market is growing at a fast pace and the report shows us that there are a couple of key factors behind that. The most important factor that’s helping the market grow faster than usual is the tough competition.
Points Which Are Focused In the Report
The report offers market share appraisals for regional and global levels
Potential and niche segments/regions exhibiting promising growth
What are the challenges being faced by the new entrants
Future trends to elucidate imminent investment pockets.
This report provides pin-point analysis for changing competitive dynamics
Freight Forwarding Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
Rise in Logistics Services
The increased need for less expensive shipping, the capability to recognize the consumers’ 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.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the freight forwarding market.
Opportunities
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 2022 to 2029. Also, increase in the cargo volume will further expand the market.
Restraints/Challenges
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 2022-2029.
This freight forwarding market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on freight forwarding market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Some extract from Table of Contents
Overview of Global Freight Forwarding Market
Freight Forwarding Size (Sales Volume) Comparison by Type
Freight Forwarding Size (Consumption) and Market Share Comparison by Application
Freight Forwarding Size (Value) Comparison by Region
Freight Forwarding Sales, Revenue and Growth Rate
Freight Forwarding Competitive Situation and Trends
Strategic proposal for estimating availability of core business segments
Players/Suppliers, Sales Area
Analyze competitors, including all important parameters of Freight Forwarding
Global Freight Forwarding Manufacturing Cost Analysis
The most recent innovative headway and supply chain pattern mapping
The most recent innovative headway and supply chain pattern mapping
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Why Is Data Triangulation Important In Qualitative Research?
This involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. Triangulation is one method used while reviewing, synthesizing and interpreting field data. Data triangulation has been advocated as a methodological technique not only to enhance the validity of the research findings but also to achieve ‘completeness’ and ‘confirmation’ of data using multiple methods
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