Freight Forwarding Market Size, Trends and Insights By Service Type (Air Freight, Ocean Freight, Road Freight, Rail Freight), By End-User (Manufacturing and Automotive, Oil and Gas, Healthcare, Retail, Food and Beverage, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- DHL Global Forwarding
- Kuehne + Nagel
- DB Schenker
- H. Robinson
- Others
Reports Description
Global Freight Forwarding Market is on a growth trajectory from 2023 to 2032, driven by the continuous expansion of international trade and logistics. The market is projected to have a CAGR of approximately 5.5% during this period. In 2022, the market is expected to be valued at USD 200 Billion, and it is anticipated to reach USD 320 Billion by 2032.
The freight forwarding industry plays a pivotal role in the global supply chain, facilitating the movement of goods across various transportation modes. This market encompasses various services, including air, ocean, road, and rail freight, catering to diverse industries and end-users.
Global Freight Forwarding Market – Significant Growth Factors
- Global Trade Expansion: The rise in international trade and e-commerce is driving the need for efficient freight forwarding services to move goods globally.
- Specialized Logistics Needs: Different industries, such as manufacturing, oil and gas, healthcare, and retail, have specific logistics requirements, creating a demand for tailored freight solutions.
- Technology Integration: The adoption of advanced technologies, like IoT and blockchain, is enhancing supply chain visibility and efficiency, attracting businesses to seek advanced freight services.
- Emerging Markets: Growth in emerging markets, such as Asia and Africa, is opening up new opportunities for freight forwarding companies.
- Environmental Concerns: The focus on sustainability and reducing the carbon footprint is influencing the choice of environmentally friendly transportation options.
- Customs Regulations: Complex customs regulations are driving the need for expert freight forwarders who can navigate international trade complexities.
- E-commerce Growth: The boom in online retail and cross-border e-commerce is spurring the demand for efficient freight services.
Global Freight Forwarding Market – Mergers and Acquisitions
- DHL Global Forwarding’s Acquisition of Panalpina: DHL acquired Panalpina, consolidating its position as a major player in the global freight forwarding market.
- DSV Panalpina’s Expansion: DSV Panalpina expanded its global reach and service offerings, including air, ocean, and road freight services.
- H. Robinson’s Technology Integration: C.H. Robinson invested in technology to enhance its digital freight platform and improve customer experience.
- Nippon Express’s Global Network Development: Nippon Express expanded its global network to meet the increasing demand for freight services.
COMPARATIVE ANALYSIS OF THE RELATED MARKET
| Freight Forwarding Market | Automotive Intelligent Park Assist Market | Railway Construction Technology Market |
| CAGR 5.5% (Approx) | CAGR 23% (Approx) | CAGR 9.5% (Approx) |
| USD 320 Billion by 2032 | USD 21.7 Billion by 2032 | USD 619.3 Billion by 2032 |
Global Freight Forwarding Market – Significant Challenges
- Economic Volatility: Economic downturns can impact global trade, leading to fluctuations in freight forwarding demand.
- Regulatory Changes: Frequent changes in international trade regulations can pose challenges for compliance.
- Infrastructure Constraints: Limited infrastructure in some regions can affect the efficiency of freight movement.
- Price Pressures: Competitive pricing in the freight forwarding industry can affect profit margins.
- Technology Adaptation: Staying updated with the latest technologies and digitalization can be challenging for traditional players.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 212 Billion |
| Projected Market Size in 2032 | USD 320 Billion |
| Market Size in 2022 | USD 200 Billion |
| CAGR Growth Rate | 5.5% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Service Type, End-User and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Category-Wise Insights
By Service Type:
- Air Freight: Speed and efficiency make air freight crucial for time-sensitive cargo, including perishable goods and high-value items.
- Ocean Freight: Ocean freight is vital for transporting large volumes of goods, making it cost-effective for bulk shipments.
- Road Freight: Road freight is widely used for domestic and cross-border transport, ensuring connectivity between regions.
- Rail Freight: Rail freight is a sustainable option for long-distance cargo transportation, particularly for intercontinental routes.
By End-User:
- Manufacturing and Automotive: This sector demands just-in-time deliveries and efficient supply chains, making it a significant end-user.
- Oil and Gas: The energy industry relies on the timely transport of equipment and materials for exploration and production.
- Healthcare: The healthcare sector requires specialized handling of sensitive and time-critical medical supplies.
- Retail: E-commerce and traditional retail depend on timely deliveries to meet customer demands.
- Food and Beverage: Perishable goods require specific temperature-controlled logistics and reliable supply chains.
- Others: Various industries, including construction and technology, also rely on freight forwarding services.
Freight Forwarding Market – Regional Analysis
North America:
- North America, led by the United States, benefits from its mature logistics infrastructure and international trade relationships.
- The region has a diverse range of end-users, from manufacturing to healthcare, contributing to market growth.
- Technological advancements and investments in transportation networks drive the industry’s development.
Europe:
- Europe has a robust road and rail network, making it a vital part of global logistics.
- The region’s diverse industries, including automotive, manufacturing, and healthcare, rely on efficient freight services.
- Strict regulatory compliance and environmental concerns influence the choice of transport modes.
Asia-Pacific:
- Asia-Pacific, led by China, is a thriving hub for global trade, with substantial manufacturing and e-commerce industries.
- The region’s rapid economic growth creates a growing demand for efficient and cost-effective freight services.
- Infrastructure development and technology integration are key drivers in the Asia-Pacific market.
Latin America:
- In Latin America, countries like Brazil and Mexico are expanding their global trade networks.
- Growth is driven by increased manufacturing and exports, especially in the automotive and agriculture sectors.
- Challenges include regulatory complexities and infrastructure limitations.
List of the prominent players in the Freight Forwarding Market:
- DHL Global Forwarding
- Kuehne + Nagel
- DB Schenker
- H. Robinson
- Expeditors International of Washington
- Panalpina
- Nippon Express
- DSV Panalpina
- UPS Supply Chain Solutions
- Sinotrans
- Others
The Freight Forwarding Market is segmented as follows:
By Service Type
- Air Freight
- Ocean Freight
- Road Freight
- Rail Freight
By End-User
- Manufacturing and Automotive
- Oil and Gas
- Healthcare
- Retail
- Food and Beverage
- Others
By Mode of Transport
- Land Freight Forwarding
- Sea Freight Forwarding
- Air Freight Forwarding
By Customer Type
- B2B
- B2C
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Freight Forwarding Market, (2024 – 2033) (USD Billion)
- 2.2 Global Freight Forwarding Market: snapshot
- Chapter 3. Global Freight Forwarding Market – Industry Analysis
- 3.1 Freight Forwarding Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Global Trade Expansion
- 3.2.2 Specialized Logistics Needs
- 3.2.3 Technology Integration
- 3.2.4 Emerging Markets
- 3.2.5 Environmental Concerns
- 3.2.6 Customs Regulations
- 3.2.7 E-commerce Growth.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Service Type
- 3.7.2 Market Attractiveness Analysis By End-User
- Chapter 4. Global Freight Forwarding Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Freight Forwarding Market: Company Market Share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Freight Forwarding Market – Service Type Analysis
- 5.1 Global Freight Forwarding Market Overview: By Service Type
- 5.1.1 Global Freight Forwarding Market Share, By Service Type, 2022 and – 2033
- 5.2 Air Freight
- 5.2.1 Global Freight Forwarding Market by Air Freight, 2024 – 2033 (USD Billion)
- 5.3 Ocean Freight
- 5.3.1 Global Freight Forwarding Market by Ocean Freight, 2024 – 2033 (USD Billion)
- 5.4 Road Freight
- 5.4.1 Global Freight Forwarding Market by Road Freight , 2024 – 2033 (USD Billion)
- 5.5 Rail Freight
- 5.5.1 Global Freight Forwarding Market by Rail Freight, 2024 – 2033 (USD Billion)
- 5.1 Global Freight Forwarding Market Overview: By Service Type
- Chapter 6. Global Freight Forwarding Market – End-User Analysis
- 6.1 Global Freight Forwarding Market Overview: By End-User
- 6.1.1 Global Freight Forwarding Market Share, By End-User, 2022 and – 2033
- 6.2 Manufacturing and Automotive
- 6.2.1 Global Freight Forwarding Market by Manufacturing and Automotive, 2024 – 2033 (USD Billion)
- 6.3 Oil and Gas
- 6.3.1 Global Freight Forwarding Market by Oil and Gas, 2024 – 2033 (USD Billion)
- 6.4 Healthcare
- 6.4.1 Global Freight Forwarding Market by Healthcare, 2024 – 2033 (USD Billion)
- 6.5 Retail
- 6.5.1 Global Freight Forwarding Market by Retail, 2024 – 2033 (USD Billion)
- 6.6 Food and Beverage
- 6.6.1 Global Freight Forwarding Market by Food and Beverage, 2024 – 2033 (USD Billion)
- 6.7 Others
- 6.7.1 Global Freight Forwarding Market by Others, 2024 – 2033 (USD Billion)
- 6.1 Global Freight Forwarding Market Overview: By End-User
- Chapter 7. Freight Forwarding Market – Regional Analysis
- 7.1 Global Freight Forwarding Market Regional Overview
- 7.2 Global Freight Forwarding Market Share, by Region, 2022 & – 2033 (USD Billion)
- 7.3. North America
- 7.3.1 North America Freight Forwarding Market, 2024 – 2033 (USD Billion)
- 7.3.1.1 North America Freight Forwarding Market, by Country, 2024 – 2033 (USD Billion)
- 7.3.1 North America Freight Forwarding Market, 2024 – 2033 (USD Billion)
- 7.4 North America Freight Forwarding Market, by Service Type, 2024 – 2033
- 7.4.1 North America Freight Forwarding Market, by Service Type, 2024 – 2033 (USD Billion)
- 7.5 North America Freight Forwarding Market, by End-User, 2024 – 2033
- 7.5.1 North America Freight Forwarding Market, by End-User, 2024 – 2033 (USD Billion)
- 7.6. Europe
- 7.6.1 Europe Freight Forwarding Market, 2024 – 2033 (USD Billion)
- 7.6.1.1 Europe Freight Forwarding Market, by Country, 2024 – 2033 (USD Billion)
- 7.6.1 Europe Freight Forwarding Market, 2024 – 2033 (USD Billion)
- 7.7 Europe Freight Forwarding Market, by Service Type, 2024 – 2033
- 7.7.1 Europe Freight Forwarding Market, by Service Type, 2024 – 2033 (USD Billion)
- 7.8 Europe Freight Forwarding Market, by End-User, 2024 – 2033
- 7.8.1 Europe Freight Forwarding Market, by End-User, 2024 – 2033 (USD Billion)
- 7.9. Asia Pacific
- 7.9.1 Asia Pacific Freight Forwarding Market, 2024 – 2033 (USD Billion)
- 7.9.1.1 Asia Pacific Freight Forwarding Market, by Country, 2024 – 2033 (USD Billion)
- 7.9.1 Asia Pacific Freight Forwarding Market, 2024 – 2033 (USD Billion)
- 7.10 Asia Pacific Freight Forwarding Market, by Service Type, 2024 – 2033
- 7.10.1 Asia Pacific Freight Forwarding Market, by Service Type, 2024 – 2033 (USD Billion)
- 7.11 Asia Pacific Freight Forwarding Market, by End-User, 2024 – 2033
- 7.11.1 Asia Pacific Freight Forwarding Market, by End-User, 2024 – 2033 (USD Billion)
- 7.12. Latin America
- 7.12.1 Latin America Freight Forwarding Market, 2024 – 2033 (USD Billion)
- 7.12.1.1 Latin America Freight Forwarding Market, by Country, 2024 – 2033 (USD Billion)
- 7.12.1 Latin America Freight Forwarding Market, 2024 – 2033 (USD Billion)
- 7.13 Latin America Freight Forwarding Market, by Service Type, 2024 – 2033
- 7.13.1 Latin America Freight Forwarding Market, by Service Type, 2024 – 2033 (USD Billion)
- 7.14 Latin America Freight Forwarding Market, by End-User, 2024 – 2033
- 7.14.1 Latin America Freight Forwarding Market, by End-User, 2024 – 2033 (USD Billion)
- 7.15. The Middle East and Africa
- 7.15.1 The Middle-East and Africa Freight Forwarding Market, 2024 – 2033 (USD Billion)
- 7.15.1.1 The Middle-East and Africa Freight Forwarding Market, by Country, 2024 – 2033 (USD Billion)
- 7.15.1 The Middle-East and Africa Freight Forwarding Market, 2024 – 2033 (USD Billion)
- 7.16 The Middle-East and Africa Freight Forwarding Market, by Service Type, 2024 – 2033
- 7.16.1 The Middle-East and Africa Freight Forwarding Market, by Service Type, 2024 – 2033 (USD Billion)
- 7.17 The Middle-East and Africa Freight Forwarding Market, by End-User, 2024 – 2033
- 7.17.1 The Middle-East and Africa Freight Forwarding Market, by End-User, 2024 – 2033 (USD Billion)
- Chapter 8. Company Profiles
- 8.1 DHL Global Forwarding
- 8.1.1 Overview
- 8.1.2 Financials
- 8.1.3 Product Portfolio
- 8.1.4 Business Strategy
- 8.1.5 Recent Developments
- 8.2 Kuehne + Nagel
- 8.2.1 Overview
- 8.2.2 Financials
- 8.2.3 Product Portfolio
- 8.2.4 Business Strategy
- 8.2.5 Recent Developments
- 8.3 DB Schenker
- 8.3.1 Overview
- 8.3.2 Financials
- 8.3.3 Product Portfolio
- 8.3.4 Business Strategy
- 8.3.5 Recent Developments
- 8.4 C.H. Robinson
- 8.4.1 Overview
- 8.4.2 Financials
- 8.4.3 Product Portfolio
- 8.4.4 Business Strategy
- 8.4.5 Recent Developments
- 8.5 Expeditors International of Washington
- 8.5.1 Overview
- 8.5.2 Financials
- 8.5.3 Product Portfolio
- 8.5.4 Business Strategy
- 8.5.5 Recent Developments
- 8.6 Panalpina
- 8.6.1 Overview
- 8.6.2 Financials
- 8.6.3 Product Portfolio
- 8.6.4 Business Strategy
- 8.6.5 Recent Developments
- 8.7 Nippon Express
- 8.7.1 Overview
- 8.7.2 Financials
- 8.7.3 Product Portfolio
- 8.7.4 Business Strategy
- 8.7.5 Recent Developments
- 8.8 DSV Panalpina
- 8.8.1 Overview
- 8.8.2 Financials
- 8.8.3 Product Portfolio
- 8.8.4 Business Strategy
- 8.8.5 Recent Developments
- 8.9 UPS Supply Chain Solutions
- 8.9.1 Overview
- 8.9.2 Financials
- 8.9.3 Product Portfolio
- 8.9.4 Business Strategy
- 8.9.5 Recent Developments
- 8.10 Sinotrans
- 8.10.1 Overview
- 8.10.2 Financials
- 8.10.3 Product Portfolio
- 8.10.4 Business Strategy
- 8.10.5 Recent Developments
- 8.11 Others.
- 8.11.1 Overview
- 8.11.2 Financials
- 8.11.3 Product Portfolio
- 8.11.4 Business Strategy
- 8.11.5 Recent Developments
- 8.1 DHL Global Forwarding
List Of Figures
Figures No 1 to 24
List Of Tables
Tables No 1 to 52
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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FAQs
The key factors driving the Market are Global Trade Expansion, Specialized Logistics Needs, Technology Integration, Emerging Markets, Environmental Concerns, Customs Regulations And E-commerce Growth.
The “Air Freight” category dominated the market in 2022.
The key players in the market are DHL Global Forwarding, Kuehne + Nagel, DB Schenker, C.H. Robinson, Expeditors International of Washington, Panalpina, Nippon Express, DSV Panalpina, UPS Supply Chain Solutions, Sinotrans, Others.
“North America” had the largest share in the Freight Forwarding Market.
The global market is projected to grow at a CAGR of 5.5% during the forecast period, 2023-2032.
The Freight Forwarding Market size was valued at USD 200 Billion in 2022.