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Freight Forwarding Market Growth, Trends & Global Forecast 2024-2031 | CEVA Logistics, DSV, FedEx.
Freight Forwarding Market
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What is the projected growth of the Global Freight Forwarding market?
Global Freight Forwarding Market reached US$ 175.1 billion in 2023 and is expected to reach US$ 245.2 billion by 2031, growing with a CAGR of 4.3% during the forecast period 2024-2031.
What is Freight Forwarding Market?
The Freight Forwarding Market facilitates global trade by managing the transportation, storage, and logistics of goods. Driven by e-commerce growth, supply chain digitalization, and rising international trade, the market covers air, sea, and land freight services. Challenges like fluctuating fuel costs, regulatory changes, and geopolitical tensions shape industry trends, fueling demand for technology-driven and sustainable logistics solutions.
Who are the major players in the Freight Forwarding market?
The prominent players in Freight Forwarding market research report are:
Kuehne+Nagel, Deutsche Post AG (DHL Group), DB SCHENKER, Expeditors International of Washington, Inc., CEVA Logistics, DSV, FedEx, Uber Technologies, Inc., United Parcel Service of America, Inc. and NIPPON EXPRESS HOLDINGS.
The companies are primarily focusing on strategies such as new product launches to penetrate the fastest-growing emerging markets across the world.
Key Development
In June 2023, Kuehne+Nagel, a global logistics company, announced its acquisition of Morgan Cargo, a leading freight forwarder operating in South Africa, the UK, and Kenya. This move strengthens Kuehne+Nagel's perishables logistics services while enhancing connectivity for customers across these regions, including advanced cold chain capabilities.
In April 2023, DHL Global Forwarding signed an MoU with Turkish Cargo to expand operations to SMARTIST, Turkish Cargo's state-of-the-art facility at Istanbul Airport. This partnership enhances operational efficiencies for both companies and reinforces Istanbul's position as a key global logistics hub.
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Market Segments
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: B2B, B2C.
By End-User: Retail and E-Commerce, Industrial & Manufacturing, Healthcare, Automotive, Others.
The Freight Forwarding industry is experiencing rapid growth, driven by advancements in medical technologies, increased demand for innovative therapies, and a rising focus on patient-centered care. As these sectors evolve, the need for comprehensive market analysis becomes crucial to understand trends, regulatory changes, and emerging opportunities.
Regions Covered:
The global Freight Forwarding Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa.
☞ North America - US, Canada, Mexico
☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe
☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific
☞ South America- Brazil, Argentina, Colombia, Rest of South America
☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel
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Benefits of the Report:
➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Top-down and bottom-up approach for regional analysis
➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market
Contact Us -
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Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
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About Us -
DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.
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