Freight Forwarding Market is anticipated to grow further up to US$ 285.2 billion by 2031

The global freight forwarding market was valued at US$ 192.5 billion in 2021 and it is anticipated to grow up to US$ 285.2 billion by 2031, at a CAGR of 4.0% during the forecast period.

Freight forwarding is organizing, coordinating, and shipping goods from one place to another across international borders through a single or multiple carriers. The shipment of the goods occurs through land, air, or sea. The company responsible for organizing the shipment is known as a freight forwarder. Freight forwarders manage the benefits and risks of shipping nationally and internationally by performing the required tasks, including container tracking, freight rate negotiations, freight consolidation, and customs documentation. Moreover, freight forwarding comprises numerous stages such as export customs clearance, export haulage, import customs clearance, origin handling, destination handling, and import haulage.

Request Sample Report : https://www.globalinsightservices.com/request-sample/GIS10412

Market Drivers and Trends

A surge in international trade volumes is one of the primary drivers of the growth of the freight forwarding market. An increasing number of trade agreements, especially among emerging economies, is a key factor driving the growth of international trade. Additionally, a booming e-commerce market has helped augment trade activities, resulting in increased freight forwarding market growth.

Further, integrated services offered by freight forwarders are another key factor responsible for the growth of the freight forwarding market. Besides transporting cargo, freight forwarders also provide other integrated services such as packaging, insurance, and documentation. Thus, the availability of a wide range of services has also resulted in propelling the growth of the freight forwarding market.

Market Restraints and Challenges

In the past, the story of manufacturing was globalization. But, in recent years, manufacturers have begun to move production closer to home. This means new or expanded local facilities, which makes the opportunity to upgrade to smart factory infrastructure at these facilities irresistible. People have witnessed many global supply chain disruptions in the past, such as an earthquake & tsunami in Japan, floods in Thailand, a US-China trade war, and the COVID-19 pandemic. The push for reshoring to minimize supply chain disruption started long before COVID-19, but it accelerated majorly during the pandemic as the importance of supply chain resilience came to the forefront. Thus, the rise in reshoring and nearshoring manufacturing is projected to create challenges for the global freight forwarding market.

Read Full Research Report : https://www.globalinsightservices.com/reports/freight-forwarding-market

Global Freight Forwarding Market Segmentation

By Service

• Transportation and Warehousing
• Packaging and Documentation
• Value-added Services

By Mode of Transport

• Land Freight Forwarding
• Sea Freight Forwarding
• Air Freight Forwarding

Major Players in the Global Freight Forwarding Market

The key players studied in the global freight forwarding market are CEVA Logistics (The Netherlands), Deutsche Post DHL Group (Germany), Dimerco Express Corporation (Taiwan), DSV A/S (Denmark), FedEx Corporation (US), Kuehne + Nagel Management AG (Switzerland), MGF (Canada), Nippon Express Co., Ltd. (Japan), Schenker AG (Germany), and United Parcel Service of America, Inc. (US).

Buy Now : https://www.globalinsightservices.com/checkout/single_user/GIS10412

Reasons to buy Freight Forwarding Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

Contact Us:

Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

This release was published on openPR.