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 in ten years, the market showed negative growth due to contraction in international trade. This trend continued in 2020 due to the Covid pandemic and trade restrictions in most parts of the world. Pereshoring and production outshoring may also negatively affect this market.
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FREIGHT FORWARDING DRIVERS
• The main drivers of the global Freight Forwarding Market are listed below:
• The increase in international trade and the increase in the number of trade agreements between many countries are driving the growth.
• Growth in the perishable goods market and a booming health sector, especially during the Covid pandemic, are expected to drive growth.
• The increase in the number of small and medium-sized enterprises may contribute to the development of this sector. Online booking platforms for these companies can be convenient for businesses.
• The demand for low-cost shipping is expected to increase as e-commerce services expand.
• Strong demand for integrated services is also expected to drive market growth.
• Technological advances, especially with the introduction of the Internet of Things, have made tracking shipments convenient and increased trust in such services. Other key advances, such as the use of artificial intelligence and machine learning, can help speed up operations.
FREIGHT FORWARDING MARKET SEGMENTATION
By Mode Of Transportation
• Freight transport
• Value added services (custom clearance, Packaging, etc.)
• North America
• Asia Pacific
• South America
• Middle East and Africa
• Small and Medium sized enterprises
• Large organization
• Industrial and Manufacturing
• Media & Entertainment
• 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
There are many competitors in this market, but the market power is concentrated in the hands of the top players.
The barriers to entry are much lower as no permanent investments are required. Consequently, competition is very high. Many technologically advanced companies pose a threat to the participants of the forwarding market. In order to reduce costs, shipping companies take over shipping companies, which also negatively affects traditional players. In this market, companies operate with very low profit margins, and very small cost increases and decreases in demand can negatively affect these companies.
Competitors should focus on facilitating online booking as this is the preferred mode of 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
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