Global Freight Forwarding Market was valued at US$ 180 Bn. in 2021. Global Freight Forwarding Market size is expected to grow at a CAGR of 3.4 % through the forecast period.
Market Overview
Most comprehensive Freight Forwarding Market segmentation report published by an intelligence marketing and business consulting firm indicates the lucrative is expected in the Freight Forwarding market through the forecast period 2022-2029. The report gives brief description of Freight Forwarding market segments on global Freight Forwarding market and industry basis to its readers and is also profitable for the key players and new entrants of the market.
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Market Scope
The report consists of the in-depth analysis of the market trends with help the of the micro and macro variables in detail. The research includes the pinpoints of the market sizing and forecasts quipped with current environmental and other ongoing developments that would affect the Freight Forwarding market. For the competitive analysis the major factors of the Freight Forwarding market are analysed thoroughly to help clients gain an edge over their competitors. The analysis is conducted based on their position in the market and revenue generated, profit margins, marketing strategies and technological advancements and product differentiation. The customizable reports help manufacturers in making study of competitors and the new entrants and their strategies and tactics for market. The combination of primary and secondary data is used for qualitative and quantitative analysis of the Freight Forwarding market. Thus the report acts as a tool for a clear understanding of the Freight Forwarding market and its utilization.
Freight Forwarding Market Segmentation
According to method of transportation, ocean freight forwarding has a 43% market share in 2021. Through the forecast period, a CAGR of almost 4.5% is anticipated. Due to widespread use of the internet, rising living costs, infrastructure improvements (new ports, containers, and ships), and services best suited for the e-commerce market, the maritime freight forwarding industry is flourishing. Since air freight rates have increased, there is a greater demand for ocean freight forwarding. The industry leader, Kuehne + Nagel International, generated over US$ 28 billion through its operations in 2021.
The market for freight forwarding is divided into categories for industrial and manufacturing, healthcare, automobiles, electronics, the military, oil and gas, food and beverage, and others based on the application. During the COVID, trade in pharmaceuticals rose, and it now makes up around 2.2% of all trade in goods. It is estimated to be worth roughly US$ 616 billion in 2021, with medical instruments accounting for 0.78% of the total traded goods and having a US$ 216 billion market share.
Automobiles are the most traded goods; Germany exports more automobiles than any other country in the world, with a market share of about 19.3%. Germany exported automobiles worth approximately US$ 122.3 billion in 2021. With a market share of 12.8% and a value of around US$ 80.9 Billion in automobiles exported in 2021, Japan is the second-largest car exporter.
Freight Forwarding Key Players
• Agility
• Bolloré Logistics
• CEVA Logistics
• Sinotrans India Private Limited
• DB Schenker
• DHL Global Forwarding
• Imerco
• Dachser
• DSV Panalpina A/S
• Expeditors International
• Hellmann Worldwide Logistics
• Kuehne + Nagel International AG
• MGF (Manitoulin Global Forwarding)
• Nippon Express Co.
• UPS Supply Chain Solutions
Regional Analysis
The Freight Forwarding market was held by the Asia Pacific region in 2021 and is expected to grow at a significant rate over the forecast period. Regional growth is being led by the increasing populations in growing economies. The government initiatives also affect the in growth of the market regionally, it gives the manufacturers a lucrative opportunities to their production. With the help of the Freight Forwarding market report the new entrants of the market can understand the regional market and apply their new strategies for the industry.
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Key Questions answered in the Freight Forwarding Market Report are:
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Freight Forwarding Market Trends , Freight Forwarding Market Strategy , Freight Forwarding Market Application Analysis
Mar 10, 2023
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