Press release
Freight Forwarding Market to reach USD 235.19 Bn by 2029, emerging at a CAGR of 3.4 percent and forecast 2023-2029
Freight Forwarding Market
Report Scope:
Maximize Market Research Pvt Ltd, based in Pune, India, presents a comprehensive research report on the Freight Forwarding Market. This report provides valuable insights into the dynamics, drivers, restraints, and regional aspects of the market.
Research Methodology:
Our research methodology involves rigorous data collection and analysis, encompassing market trends, key players, and competitive landscapes. We utilize PORTER and PESTEL analyses to assess the impact of micro-economic factors and external variables on the market.
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Freight Forwarding Market Dynamics:
Drivers of Freight Forwarding Market:
Increase in Trade Agreements: The growth of the Freight Forwarding Market is driven by the expansion of trade agreements between nations, fostering increased import and export activities. The Regional Comprehensive Economic Partnership (RCEP) has significantly boosted trade among 15 East Asian and Pacific countries, stimulating market growth.
Use of Artificial Intelligence (AI): The integration of AI in logistics and supply chain management is on the rise. AI is expected to reach a market size of US$ 14 billion by 2029, with a 20% CAGR, enhancing efficiency, cost savings, and accuracy in freight forwarding operations.
Rising International Trade: Both air and ocean freight segments are witnessing growth. Ocean freight is expected to grow at a CAGR of 4.5%, while air freight saw 14.9% YoY growth in 2022. E-commerce, especially cross-border, is a significant driver of this growth.
Growing Acceptance of E-commerce: E-commerce contributes significantly to the air cargo market, with 18% of revenue expected to rise to 22% by the end of 2022. The global e-commerce market is expanding rapidly, with China, South Korea, the United Kingdom, and the United States leading the way.
Freight Forwarding Market Regional Insights:
North America: Dominated the market with a 32% share in 2022, attributed to the strong US economy and its extensive trade partnerships
Asia-Pacific: The fastest-growing region, fueled by logistics growth in ASEAN countries, China, and India. Government support for the logistics sector is also driving market expansion
India: Significant trade partners include the United States and China. The market is witnessing mergers and acquisitions to tap into these growing economies.
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Freight Forwarding Market Segmentation:
by Mode of Transport
Air
Ocean
Rail
Road
by Application
Industrial and Manufacturing
Retail
Healthcare
Media and Entertainment
Military
Oil and Gas
Food and Beverages
Others
by Customer Type
B2B
B2C
by Service
Transportation and Warehousing
Packaging and Documentation
Insurance
Value-Added Services
Freight Forwarding Market Key Players:
1. Agility
2. Bolloré Logistics
3. CEVA Logistics
4. Sinotrans India Private Limited
5. DB Schenker
6. DHL Global Forwarding
7. Imerco
8. Dachser
9. DSV Panalpina A/S
10. Expeditors International
11. Hellmann Worldwide Logistics
12. Kuehne + Nagel International AG
13. MGF (Manitoulin Global Forwarding)
14. Nippon Express Co.
15. UPS Supply Chain Solutions
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Table of content for the Freight Forwarding Market includes:
1. Global Freight Forwarding Market: Research Methodology
2. Global Freight Forwarding Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Freight Forwarding Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
Key Offerings:
• Past Market Size and Competitive Landscape
• Past Pricing and price curve by region
• Market Size, Share, Size and Forecast by different segment | 2023-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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Contact Maximize Market Research:
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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