Freight Forwarding Market on Track to Hit $245.2 Billion by 2031 - Key Trends & Insights | Kuehne+Nagel, Deutsche Post AG (DHL Group), DB SCHENKER, Expeditors International of Washington, Inc.

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.

Freight Forwarding Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Freight forwarding is a logistics service that manages the transportation of goods across domestic and international supply chains. It involves coordinating shipping, customs clearance, and documentation to ensure efficient and cost-effective delivery for businesses and individuals.

List of the Key Players in the Freight Forwarding Market:

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.

Industry Development:

In June 2023, Kuehne+Nagel, a global logistics company, agreed to acquire Morgan Cargo, a leading freight forwarder in South Africa, the UK, and Kenya. This acquisition expands its perishables logistics services and enhances connectivity with advanced cold chain capabilities.
In April 2023, DHL Global Forwarding signed an MoU with Turkish Cargo to extend its operations to SMARTIST, Turkish Cargo's facility at Istanbul Airport. The agreement enhances operational efficiency and reinforces Istanbul's role as a global logistics hub.

Growth Forecast Projected:

The Global Freight Forwarding Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Freight Forwarding Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Freight Forwarding Market:

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

Regional Analysis for Freight Forwarding Market:

The regional analysis of the Freight Forwarding Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Freight Forwarding market?

➠ Who are the leading manufacturers in the global Freight Forwarding industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Freight Forwarding industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Freight Forwarding market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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