Freight Forwarding Market Analysis

Freight Forwarding Market Analysis

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The ocean freight mode of transportation segment accounted for 25% of the freight forwarding market share in 2022, led by the transportation of bulky & voluminous goods. The capacity of ocean freight to efficiently accommodate substantial loads and larger volumes makes it a preferred choice for industries dealing with oversized commodities. Sectors including mining, construction, and manufacturing benefit from the cost-effectiveness & logistical convenience of ocean freight for the transportation of heavy machinery, raw materials, and other sizable cargo, thereby bolstering its prominence in the global supply chain.
 

The B2B customer type segment held over 55% of the freight forwarding market share in 2022. B2B customers exert their dominance in the market through their involvement in intricate supply chain networks. In B2B transactions, the goods often go through a complex journey involving multiple stages, i.e., from the sourcing of raw materials to manufacturing & distribution. Freight forwarders play a pivotal role in coordinating these multifaceted processes, which helps in ensuring the seamless movement of goods across various regions and modes of transportation. Their expertise in optimizing these convoluted supply chains solidifies the influence of B2B customers in the market.
 

North America freight forwarding market with a major share of over 30% in 2022. The dynamic North American manufacturing and industrial sectors form the cornerstone of the region's economy. These industries demand a seamless flow of raw materials, components, and finished goods across vast geographic areas. Freight forwarding plays a pivotal role by offering efficient transportation solutions to connect production centers with distribution networks. The diverse range of products & industries, encompassed by manufacturing & industrial activities, fuels the constant need for reliable logistics, thereby making freight forwarding an indispensable driver of economic growth and competitiveness in the region.