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

Freight Forwarding refers to the service by which an agency plans and coordinates the process of transporting goods across national borders. This service is provided for the sender. Other additional services that can be included in freight transportation include commercial invoice issuance, distribution, warehousing, insurance and custom brokerage. They are also known as non-ship operations common carriers.

Impact of Covid

In 2020, many sectors were affected by supply chain disruptions. Since China was the first country to be influenced by Covid and one of the largest manufacturers in the world, it has been affected by the global supply chain since early 2020. This impact was felt by automobiles, electronics, healthcare and consumers. Classify the most. There were no labor-deficient truck drivers in the warehouse. However, because e-commerce resides in that sector, the impact on all sectors is not uniform.

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FREIGHT FORWARDING DRIVERS

The main drivers of the global Freight Forwarding Market are listed below:

• Growth in international trade and increased trade agreements with more countries are contributing to growth.

• Perishables market injuries, especially the growing healthcare sector during the Covid pandemic, are expected to help boost growth.

• The increase in the number of SMEs can contribute to the growth of this sector. Online booking platforms for these companies may seem convenient with these companies.

• Demand for low-cost delivery is expected to increase as e-commerce services increase.

• Even though the demand for integrated services is high, it is expected to help the market grow.

• The development of technology, especially with the adoption of the Internet of Things, has made delivery tracking more convenient and increased confidence in these services. Other major developments, such as the use of artificial intelligence and machine learning, can help speed up your work.

FREIGHT FORWARDING MARKET SEGMENTATION

By Mode Of Transportation
• Air
• Sea
• Rail
• Road

By Service
• Freight transport
• Warehousing
• Documentation
• Value added services (custom clearance, Packaging, etc.)

By Region
• North America
• Europe
• Asia Pacific
• South America
• Middle East and Africa

By Application
• Small and Medium sized enterprises
• Large organization
• Industrial and Manufacturing
• Retail
• Healthcare
• Media & Entertainment
• Military
• Oil & Gas
• Food & Beverages
• Others (Agro Commodities, Government and Public Utilities, & Fertilizer, Jewelry, etc.)

By Logistics Model
• First party logistics
• Second Party Logistics
• Third Party Logistics

By Customer Type
• B2B
• B2C

COMPETITIVE LANDSCAPE

There are many competitors in this market, but market power is concentrated in the top players.
Barriers to entry are very low as it does not require investment in fixed assets. Therefore, the competition is fierce. Many technologically advanced companies pose a threat to freight market participants. To reduce costs, shipping companies are acquiring freight carriers that also have a negative impact on existing stores. The company works with very low margins in this market, and a slight increase in costs and a decrease in demand could have a negative impact on these companies.

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

Read More Information: https://mobilityforesights.com/product/freight-forwarding-market/

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This release was published on openPR.