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Freight forwarding Market to Reach $285.15 billion, Globally, by 2031 at 4.1% CAGR: AMR

05-22-2024 10:24 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Freight forwarding Market

Freight forwarding Market

๐…๐ซ๐ž๐ข๐ ๐ก๐ญ ๐…๐จ๐ซ๐ฐ๐š๐ซ๐๐ข๐ง๐  ๐Œ๐š๐ซ๐ค๐ž๐ญ by Service (Transportation and Warehousing, Packaging and Documentation, Value-added Services), by Mode of Transport (Land Freight Forwarding, Sea Freight Forwarding, Air Freight Forwarding), by Customer Type (B2B, B2C), by End-use Industry (Retail and E-Commerce, Manufacturing, Healthcare, Automotive, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global freight forwarding industry garnered $192.50 billion in 2021, and is estimated to reach $285.15 billion by 2031, manifesting a CAGR of 4.1% from 2022 to 2031.

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐š๐ ๐ž๐ฌ ๐๐จ๐ฐ: https://www.alliedmarketresearch.com/request-sample/2875

Asia-Pacific is expected to dominate the global freight forwarding market in 2021. The growth of the market in Asia-Pacific is majorly attributed to the booming e-commerce industry in emerging economies in the region. High government support for development of logistics infrastructure in the region is boosting the market growth. By 2022, Asia-Pacific is expected to account for 42% of the total retail sales globally along with 70% of digital commerce sales. Furthermore, strong economy of Japan, development of infrastructure, and rise in trade facilitation through agreements such as South Asian Preferential Trade Agreement (SAPTA) are the factors that are expected to foster the growth of the freight forwarding market during the forecast period.

Based on service, the transportation and warehousing segment accounted for the largest market share in 2021, contributing to more than half of the global freight forwarding market, and is expected to maintain its lead position during the forecast period. This is due to rise in adoption of warehousing and transportation management software to optimize routes, convert paper-based documentation into digital analog, decrease freight costs, track deliveries in real-time, and improve customer service. However, the value-added services segment is estimated to witness the largest CAGR of 5.7% from 2022 to 2031, owing to changes in consumer habits and rise of the e-commerce sector.

๐๐ฎ๐ฒ ๐๐จ๐ฐ ๐ญ๐ก๐ž ๐„๐ฑ๐œ๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ: https://www.alliedmarketresearch.com/checkout-final/0c434bfc7eaa36465a0158ee86497b75

The growth of the global freight forwarding market is propelling, owing to growth in international trade, expansion of the e-commerce industry worldwide, and rise in free trade agreements between nations.

However, stringent emission regulations restrain growth of the freight forwarding industry. Furthermore, increase in technological advancements, cost cutting and lead time reduction due to adoption of multi-modal system are the factors expected to offer growth opportunities during the forecast period.

๐“๐จ๐ฉ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

๐”๐›๐ž๐ซ ๐…๐ซ๐ž๐ข๐ ๐ก๐ญ ๐‹๐‹๐‚, ๐”๐ง๐ข๐ญ๐ž๐ ๐๐š๐ซ๐œ๐ž๐ฅ ๐’๐ž๐ซ๐ฏ๐ข๐œ๐ž ๐จ๐Ÿ ๐€๐ฆ๐ž๐ซ๐ข๐œ๐š, ๐ˆ๐ง๐œ., ๐๐ข๐ฉ๐ฉ๐จ๐ง ๐„๐ฑ๐ฉ๐ซ๐ž๐ฌ๐ฌ ๐‚๐จ., ๐‹๐ญ๐., ๐Œ๐†๐…, ๐‡๐ž๐ฅ๐ฅ๐ฆ๐š๐ง๐ง ๐–๐จ๐ซ๐ฅ๐๐ฐ๐ข๐๐ž ๐‹๐จ๐ ๐ข๐ฌ๐ญ๐ข๐œ๐ฌ, ๐Š๐ฎ๐ž๐ก๐ง๐ž+๐๐š๐ ๐ž๐ฅ ๐ˆ๐ง๐ญ๐ž๐ซ๐ง๐š๐ญ๐ข๐จ๐ง๐š๐ฅ ๐€๐†, ๐ƒ๐ข๐ฆ๐ž๐ซ๐œ๐จ, ๐…๐ž๐๐„๐ฑ, ๐“๐ซ๐š๐ง๐ฌ๐ฉ๐จ๐ซ๐ญ๐ž๐œ๐š, ๐‚๐„๐•๐€ ๐‹๐จ๐ ๐ข๐ฌ๐ญ๐ข๐œ๐ฌ ๐€๐†, ๐ƒ๐’๐• ๐€/๐’, ๐’๐œ๐ก๐ž๐ง๐ค๐ž๐ซ ๐ƒ๐ž๐ฎ๐ญ๐ฌ๐œ๐ก๐ฅ๐š๐ง๐ ๐€๐†, ๐ƒ๐ž๐ฎ๐ญ๐ฌ๐œ๐ก๐ž ๐๐จ๐ฌ๐ญ ๐ƒ๐‡๐‹, ๐„๐ฑ๐ฉ๐ž๐๐ข๐ญ๐จ๐ซ๐ฌ ๐ˆ๐ง๐ญ๐ž๐ซ๐ง๐š๐ญ๐ข๐จ๐ง๐š๐ฅ ๐จ๐Ÿ ๐–๐š๐ฌ๐ก๐ข๐ง๐ ๐ญ๐จ๐ง, ๐ˆ๐ง๐œ., ๐๐จ๐ฅ๐ฅ๐จ๐ซรฉ ๐‹๐จ๐ ๐ข๐ฌ๐ญ๐ข๐œ๐ฌ

๐ˆ๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ๐ž๐ ๐ญ๐จ ๐๐ซ๐จ๐œ๐ฎ๐ซ๐ž ๐ญ๐ก๐ž ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐‘๐ž๐ฉ๐จ๐ซ๐ญ? ๐ˆ๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐๐ž๐Ÿ๐จ๐ซ๐ž ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/2875

Based on mode of transport, the sea freight forwarding segment contributed to the highest market share in 2021, accounting for nearly half of the global freight forwarding market, and is expected to maintain its dominant share during the forecast period. This is due to new technological developments such as machine-to-machine (M2M) communication and focus on reducing carbon footprints. However, the air freight forwarding segment is projected to manifest the fastest CAGR of 5.2% from 2022 to 2031. This is attributed to increase in offering of multi-modal services and rise in express-parcel deliveries worldwide.

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

Asia-Pacific to maintain its dominance by 2031

Based on region, Asia-Pacific contributed to the highest market share in 2021, accounting for nearly two-fifths of the global freight forwarding market, and is estimated to maintain its dominance by 2031. This is attributed to surge in the e-commerce industry in emerging economies and supportive initiatives for the development of logistics infrastructure. However, North America is projected to manifest the largest CAGR of 5.0% during the forecast period. This is due to technological advancements that led to digitalization and the presence of leading players.

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐ฆ๐จ๐ซ๐ž ๐ซ๐ž๐ฅ๐š๐ญ๐ž๐ ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ฉ๐ฎ๐›๐ฅ๐ข๐ฌ๐ก๐ž๐ ๐›๐ฒ ๐€๐Œ๐‘ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

Pharmaceutical Logistics Market - https://www.globenewswire.com/en/news-release/2022/10/31/2544570/0/en/Pharmaceutical-Logistics-Market-to-Garner-106-8-Billion-by-2031-Allied-Market-Research.html

On-demand Logistics Market - https://www.prnewswire.com/news-releases/on-demand-logistics-market-to-reach-80-6-billion-globally-by-2031-at-20-8-cagr-allied-market-research-301680063.html

Logistics Automation Market - https://www.prnewswire.com/news-releases/logistics-automation-market-to-reach-147-38-billion-globally-by-2030-at-11-9-cagr-allied-market-research-301537076.html

Freight Trucking Market - https://www.globenewswire.com/en/news-release/2022/11/16/2557532/0/en/Freight-Trucking-Market-Size-to-Reach-4-457-4-Billion-by-2031-Allied-Market-Research.html

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ:

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๐€๐›๐จ๐ฎ๐ญ ๐”๐ฌ

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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