Freight forwarders, also known as non-vessel operating common carriers, are agents that arrange shipments for industries from manufacturers to the final destination. Forwarders have contracts with shipping line carriers to move cargo. This provides help them offer a secure network of movement of cargo at low prices. They act as supply chain experts and their services include commercial invoicing, warehousing, packaging, documentation, declaration of shippers export, and distribution at the final destination.
The key factors that drive the growth of the market are the high demand for low-cost shipping, ability to identify customers needs, and respond quickly with logistics solutions. Trends such as the high demand for integrated services further propel the market growth. Generally, freight forwarders provide customers with a wide range of integrated services, which not only includes the usual transport of cargo from source to destination, but also a host of other services. Moreover, rise in trade agreements between nations also help increase the market growth. However, increase in reshoring and nearshoring manufacturing hinders the market growth. Irrespective of challenges, the increasing trend of intermodal freight transportation will further boost the market growth in future.
The market segmentation is based on service. By service, it is divided into packaging, documentation, transportation & warehousing, and VAS (value-added services). Geographically, it has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Prominent players profiled in the report include C.H. Robinson Worldwide, CEVA Logistics, CJ Korea Express, DACHSER, Dimerco, DSV, Expeditors International, GEODIS, Hellmann Worldwide Logistics, Deutsche Post DHL Group, and Kuehne + Nagel International AG.
- This report provides an extensive analysis of the current & emerging market trends and dynamics in the freight forwarding market.
- In-depth analysis has been carried out by constructing market estimations for key market segments between 2017 and 2023.
- The report provides a quantitative analysis of the current trends and future estimations from 2017 to 2023, which helps identify prevailing market opportunities.
- Competitive intelligence of the industry helps understand the competitive scenario across geographies.
Freight Forwarding Market Key Segments:
- Transportation and warehousing
- VAS (Value-added services)
- North America
- Rest of Asia-Pacific
- Rest of Europe
- Latin America
- The Middle East
Key Players in the Value Chain
- C.H. Robinson Worldwide
- CJ Korea Express
- Expeditors International
- Hellmann Worldwide Logistics
- Deutsche Post DHL Group
- Kuehne + Nagel