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Freight Forwarding Market Trends

Report ID: GMI6509
Published Date: Aug 2023
Report Format: PDF

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Freight Forwarding Market Trends

The increased demand for efficient & reliable transportation of goods, owing to the surge in e-commerce logistics, is propelling the freight forwarding industry growth. The continuous growth in online retail has intensified the need for seamless cross-border shipping, timely deliveries, and optimized supply chains. Freight forwarders play a crucial role in providing specialized solutions including last-mile delivery, customs clearance, and multi-modal transportation for e-commerce businesses, thereby driving industry outlook.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of freight forwarding reached USD 191.6 billion in 2022 and is set to witness 4% CAGR through 2023-2032, due to globalization and the expansive growth in international trade.

Ocean freight forwarding segment registered 25% of market share in 2022, impelled by rising application scope in the transportation of bulky & voluminous goods.

North America held 30% of the freight forwarding market share in 2022, due to the increasing advances in the manufacturing and industrial sectors in the region.

Some of the leading freight forwarding companies are Bollore Logistics, CEVA Logistics, DB Schenker, DHL Global Forwarding, DSV Global Transports and Logistics, Expeditors International, FedEx Corp., and Kuehne + Nagel International AG.