Freight Forward Market by Services (Customs Clearance, Import Documentation, Insurance), Mode of Transportation (Air Freight Forwarding, In-Road Forwarding, Sea Freight Forwarding) - Global Forecast 2024-2030

Freight Forward Market by Services (Customs Clearance, Import Documentation, Insurance), Mode of Transportation (Air Freight Forwarding, In-Road Forwarding, Sea Freight Forwarding) - Global Forecast 2024-2030

The Freight Forward Market size was estimated at USD 32.14 billion in 2023 and expected to reach USD 35.02 billion in 2024, at a CAGR 8.89% to reach USD 58.37 billion by 2030.

Freight forwarding services incorporate the coordination and shipment of goods from one place to another using single or multiple carriers through air, sea, rail, or road. An essential role of a freight forwarder is to collect and consolidate consignments and obtain common carrier transportation for the long-haul transport of the consolidation, thus making its transport more efficient and reducing transport costs. Increasing global trade activities, growth in eCommerce, and the need for third-party ancillary services are fueling the growth of freight forwarding services. However, several issues, such as increasing overall transportation costs and delays in shipments, create concerns for freight forwarder service providers. Currently, freight forwarders manage the risks and benefits of shipping both locally and internationally with customs regulations, negotiating tariffs, and being efficient in the requirements of shipping by land, sea, rail, and air using advanced technology support.

Regional Insights

Americas showcase a developed landscape for the freight forward market attributed to the surge in trade and the U.S. government initiatives to support the logistics sector. The Asia-Pacific market is growing rapidly with the development of the manufacturing sector and the rise in international trading goods. The expansion of goods manufacturing industries and strong government measures for economic growth are growing the freight forwarder business in the region. Moreover, the high government support for industrialization and import and export activities provides positive prospects for the Asia-Pacific. The freight forward market in Europe, the Middle East, and African economies is evolving exponentially, supported by major trade partnerships worldwide for several essential commodities. In addition, the investment for innovation in forward freight solutions makes services more efficient and accurate, encouraging growth in the EMEA region.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Freight Forward Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Rising eCommerce industry and need for coordination and shipment of goods
    • Increasing demand for third-party ancillary services and value-added extra services
    • Improvements to enhance customer service experience
    • Market Restraints
      • Concerns associated with shipping delays and restrictions
      • Market Opportunities
        • Digitization and technology advancements in freight forwarding
        • Increasing amalgamation activities in the freight forwarding industry
        • Market Challenges
          • Unidentified product damages and loss of freight and increasing pricing pressure
          • Market Segmentation Analysis
            • Services: Utilization of varied freight services to reduce overheads, improve order fulfillment rates, and enhance customer satisfaction
            • Mode of Transportation: Growing preference for air freight solutions due to their rapid transit time and high security
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Freight Forward Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Freight Forward Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Dentons advises transport and logistics company GEODIS on acquisition of trans‑o‑flex.
              
              Dentons serves as legal counsel to Geodis, a global transport and logistics company, in their recent acquisition of Trans-O-Flex, a German specialist in pharma logistics and value-added services. This acquisition marks a significant step forward for Geodis as they expand their capabilities in the highly specialized healthcare logistics sector. Dentons' team of legal professionals was able to provide a comprehensive range of services to Geodis, including advising on transaction structuring, regulatory compliance, and negotiating key purchase agreements necessary for the acquisition to take place.
              
              Unique Logistics Announced Acquisition Closing of Operating Subsidiaries and Affiliates of Former Parent Company.
              
              Unique Logistics recently announced the acquisition and closing of operating subsidiaries and affiliates of a former parent company, marking a significant milestone for the company. Unique Logistics' move to expand their reach showcases their commitment to enhancing their services to meet the demands of their clients. This acquisition adds to their already existing portfolio and positions the company for increased growth in the future.
              
              Freightify raises USD 12 million in series A led by Sequoia Capital.
              
              Freightify, a technology- global freight forwarding platform, recently announced raising USD 12 million in a Series A funding round led by Sequoia Capital. The funds are expected to utilized to further expand the company's offerings and strengthen its technological capabilities. The platform, which simplifies the freight forwarding process for shippers and carriers, has seen significant growth in recent years, with its revenue increasing by 8 times in the last two years. This latest funding round marks a major milestone for Freightify and focuses on the growing importance of technology in the freight forwarding industry.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Freight Forward Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Freight Forward Market, highlighting leading vendors and their innovative profiles. These include A.P. Moller - Maersk A/S, Allcargo Logistics Ltd., Allstates WorldCargo, Inc., Bolloré S.E., C.H. Robinson Worldwide, Inc., CEVA Logistics AG, CJ Logistics, CSX Corporation, CTS International Logistics Corporation Limited, Dachser SE, Deutsche Bahn AG, Deutsche Post DHL Group, Dimerco Express Corporation, DP World Logistics FZE, DSV A/S, Expeditors International of Washington, Inc., FedEx Corporation, GEODIS SA, Hellmann Worldwide Logistics SE & Co. KG, Hitachi Transport System, Ltd., ICAT Logistics Inc., Kerry Logistics Network Limited, Kintetsu World Express, Inc., Kühne + Nagel International AG, LX Pantos Co., Ltd., Manitoulin Group, Nippon Express Co., Ltd., River Plate, Inc., Schenker AG, Shoreline Express Inc., Sinotrans Co., Ltd., Toll Holdings Limited, Uber Freight Holding Corporation, United Parcel Service, Inc., Worldwide Logistics Group, XPO, Inc., and Yusen Logistics Co., Ltd..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Freight Forward Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Services
              • Customs Clearance
              • Import Documentation
              • Insurance
              • International Export
              • Inventory Management
              • Packing
              • Storage
              • Mode of Transportation
                • Air Freight Forwarding
                • In-Road Forwarding
                • Sea Freight Forwarding
                • Region
                  • Americas
                    • Argentina
                    • Brazil
                    • Canada
                    • Mexico
                    • United States
                      • California
                      • Florida
                      • Illinois
                      • New York
                      • Ohio
                      • Pennsylvania
                      • Texas
                      • Asia-Pacific
                        • Australia
                        • China
                        • India
                        • Indonesia
                        • Japan
                        • Malaysia
                        • Philippines
                        • Singapore
                        • South Korea
                        • Taiwan
                        • Thailand
                        • Vietnam
                        • Europe, Middle East & Africa
                          • Denmark
                          • Egypt
                          • Finland
                          • France
                          • Germany
                          • Israel
                          • Italy
                          • Netherlands
                          • Nigeria
                          • Norway
                          • Poland
                          • Qatar
                          • Russia
                          • Saudi Arabia
                          • South Africa
                          • Spain
                          • Sweden
                          • Switzerland
                          • Turkey
                          • United Arab Emirates
                          • United Kingdom
                          
                          
                          Please Note: PDF & Excel + Online Access - 1 Year