Freight Forwarding Market Top Key Players - Deutsche Post DHL Group, Kuehne + Nagel International AG, DB Schenker, Expeditors International, DSV Panalpina A/S, C.H. Robinson Worldwide
In 2019, for the first time after a decade the market witnessed negative growth owing to less international trade. The trend continued in the year 2020 due to Covid pandemic and the trade restrictions in most parts of the world.
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FREIGHT FORWARDING DRIVERS
The main drivers of the global Freight Forwarding Market are listed below :
1. Growth of international trade and increase of trade agreements between more countries is contributing to growth.
2. The rise of the perishable goods market and the growing healthcare sector, especially during the Covid pandemic is expected to help in increasing the growth.
3. The increase in the number of small and medium enterprises can contribute to growth of this sector. Online booking platforms for these companies can seem convenient to these enterprises.
4. The demand for low cost shipping with rise in e-commerce services is also expected to boost demand.
5. The high demand for integrated services is also expected to help the market grow.
FREIGHT FORWARDING MARKET SEGMENTATION
By Mode Of Transportation
The air freight forwarding segment saw a fall in revenue in the year 2019 while the sea freight forwarding segment experienced lesser growth than the previous years. In 2020, further this trend was observed due to trade restrictions.
1. Freight transport
4. Value added services (custom clearance, Packaging, etc.)
Among the above mentioned services, the highest cost that is incurred by the companies is on Value added services. Value added services are generally labour intensive.
1. North America
3. Asia Pacific
4. South America
5. Middle East and Africa
Overall, North America is the most dominating market due to high consumer preference towards online buying.
1. Small and Medium sized enterprises
2. Large organization
3. Industrial and Manufacturing
6. Media & Entertainment
8. Oil & Gas
9. Food & Beverages
10. Others (Agro Commodities, Government and Public Utilities, & Fertilizer, Jewelry, etc.)
By Logistics Model
1. First party logistics
2. Second Party Logistics
3. Third Party Logistics
By Customer Type
There are many competitors in this market but the market power is concentrated with the top players.
Competitors should focus on making online booking hassle free since that is the more preferred mode for booking services.
Some of the players in the market are
• Deutsche Post DHL Group
• Kuehne + Nagel International AG
• DB Schenker
• Expeditors International
• DSV Panalpina A/S
• C.H. Robinson Worldwide
Kuehne + Nagel is the largest player in the sea freight segment.
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