Major freight forwarding market participants include Bollore Logistics, CEVA Logistics, DB Schenker, DHL Global Forwarding, DSV Global Transports and Logistics, Expeditors International, FedEx Corp., Kuehne + Nagel International AG, Nippon Express Co. Ltd., and United Parcel Service.
Selbyville, Delaware, Sept. 27, 2023 (GLOBE NEWSWIRE) —
The freight forwarding market valuation is projected to cross USD 289 billion by 2032, as reported in a research study by Global Market Insights Inc.
The industry growth is driven by a confluence of factors including logistics & supply chain innovations, digitalization, and globalization. The increasing globalization of trade has created a surge in the demand for efficient and cost-effective logistics solutions. Freight forwarding companies facilitate the seamless movement of goods across borders, enabling the multinational corporations to explore international opportunities in trade.
Moreover, the ongoing digital revolution, with advancements in technology is redefining its operational landscape. Automation, data analytics, and the adoption of cloud-based platforms are optimizing supply chain management. This not only enhances the efficiency of freight forwarding services but also reduces costs and minimizes errors. Focus among service providers for harnessing these technologies to gain a competitive edge will shape the industry outlook in the coming years.
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The freight forwarding market from the air transportation segment is slated to generate significant revenue between 2023 and 2032, owing to the rising popularity of express air freight, which offers rapid and time-sensitive cargo delivery solutions. The efficiency and speed of express air freight make it a preferred choice for industries such as pharmaceuticals, electronics, and perishable goods. Moreover, during natural disasters or health crises, the rapid delivery of relief supplies, medical equipment, and personnel is often a matter of life and death. The global connectivity offered by air transportation not only fuels international trade but also plays a crucial role in responding to emergencies and humanitarian crises. These factors, along with fundings for making air freight forwarding more environmentally sustainable is propelling the industry demand.
The freight forwarding market from retail sector is projected to expand at a rapid pace through 2032, backed by the exponential growth of e-commerce and bolstering demand for efficient logistics solutions. E-tailers and online marketplaces rely on freight forwarding companies to ensure the timely and cost-effective delivery of goods to consumers. Moreover, specialized retail segments, such as fashion and luxury goods, require tailored logistics solutions to safeguard product integrity and meet consumer expectations of fast delivery, even with pay-on-delivery option.
Asia Pacific freight forwarding market is poised to present lucrative opportunities from 2023 to 2032. The economic dynamism, rapid industrialization, and burgeoning middle class are driving demand for goods and services, thus increasing the need for efficient logistics networks. With developing nations witnessing robust growth in manufacturing and trade, there will higher significance of freight forwarding companies in the region. Moreover, with the integration of Industry 4.0, introduction of 5G network, and swift digitalization, e-commerce has gained traction, further shaping the APAC industry dynamics.
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Major players involved in freight forwarding market are CEVA Logistics, DHL Global Forwarding, Expeditors International, FedEx Corp., DSV Global Transports and Logistics, Kuehne + Nagel International AG, DB Schenker, Nippon Express Co. Ltd., Bollore Logistics, and United Parcel Service. These companies are undertaking strategic partnerships, acquisitions & mergers, and launches to strengthen their market position.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Freight forwarding market 360º synopsis, 2018 – 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023 – 2032
2.3 Regional trends
2.4 Mode of transportation trends
2.5 Customer type trends
2.6 End-user trends
Chapter 3 Freight Forwarding Market Industry Insights
3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.8.1 Partnership/Collaboration
3.8.2 Merger/Acquisition
3.8.3 Investment
3.8.4 Product launch & innovation
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 The rapid growth of e-commerce industry
3.10.1.2 Increasing globalization and international trade
3.10.1.3 Digitization and automation in freight forwarding
3.10.1.4 Rising investment in transportation development
3.10.2 Industry pitfalls & challenges
3.10.2.1 Fluctuating transportation prices
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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