Global Freight Forwarding Market Study Analysis: The Freight Forwarding Market Is Likely To Grow At A CAGR Of 3.63%

The global Freight Forwarding market is expected to grow from $ billion in 2020 to $ 211.16 billion in 2028 at a CAGR of 3.63%. Freight forwarders are also known as non-vessel operating common carriers. These are agents that arrange shipments for industries from manufacturers to the final destination. Forwarders have contracts with shipping line carriers to move cargo and provide help them offer a secure network of movement of cargo at low prices. Freight forwarders act as supply chain experts and their services include commercial invoicing, warehousing, packaging, documentation, declaration of shipper's export, and distribution at the final destination.

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Global Freight Forwarding Drivers And Restrain:
The major factors that increase the growth of the market are the high demand for low-cost shipping, the ability to identify customers' needs and respond quickly with logistics solutions. The freight forwarders provide the customers with a wide range of integrated services that not only include the usual transport of cargo but also host other services. Furthermore, the increase in the trade agreement between various nations is helping the market to grow.
The major factor restraining the market include the rising reshoring and nearshoring manufacturing. Furthermore, the economic slowdown and the outbreak of the covid virus has also impacted the growth of the market

Covid-19 Scenario:
• Impact on Market Size
• End-User Trend, Preferences, and Budget Impact
• Regulatory Framework/Government Policies
• Key Players Strategy to Tackle Negative Impact
• Opportunity Window

Global Freight Forwarding Market Segments:
The global Freight Forwarding market is further segmented into the mode of transport, services, and geography.

By Mode of Transport: Air Freight Forwarding, Sea Freight Forwarding
By Services: Freight Transport, Warehousing, Value-added Services, others

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa and South America)

The Asia-Pacific market is expected to grow despite the lockdown due to the rising logistics in ASEAN countries and the presence of major economies. Apart from these, the high government support for the logistics sector in the region is also a factor boosting the industry growth.

Key Players of Global Freight Forwarding Market:
• DHL Supply Chain
• DB SCHENKER
• Sinotrans India Private Limited
• Kuehne + Nagel Inc
• Expeditors International of Washington, Inc
• DSV Panalpina A/S
• Nippon Express Co., Ltd
• United Parcel Service of America, Inc
• Bolloré Logistics
• CEVA Logistics

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Key Questioned Answered Through The Report:
• The Impact of COVID-19 on the global market
• What are the potential opportunities for new entrants in the global market
• What is the market Size and Forecast from 2020 to 2028?
• Key Players associated with the global Freight Forwarding Market
• Value Chain Analysis of Global Freight Forwarding Market
• What is the CAGR of the global Freight Forwarding Market from 2021 to 2028
• Major Growth Factor, Challenges, Trends, and Opportunities in the global market
• Key outcomes of SWOT Analysis

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