Freight Forwarding Market
The global freight forwarding market was valued at US$ 192.5 billion in 2021 and it is anticipated to grow up to US$ 285.2 billion by 2031, at a CAGR of 4.0% during the forecast period.
Freight forwarding is organizing, coordinating, and shipping goods from one place to another across international borders through a single or multiple carriers. The shipment of the goods occurs through land, air, or sea. The company responsible for organizing the shipment is known as a freight forwarder. Freight forwarders manage the benefits and risks of shipping nationally and internationally by performing the required tasks, including container tracking, freight rate negotiations, freight consolidation, and customs documentation. Moreover, freight forwarding comprises numerous stages such as export customs clearance, export haulage, import customs clearance, origin handling, destination handling, and import haulage.
Read more about Freight Forwarding Market here: https://www.globalinsightservices.com/reports/freight-forwarding-market/
Market Drivers and Trends:
A surge in international trade volumes is one of the primary drivers of the growth of the freight forwarding market. An increasing number of trade agreements, especially among emerging economies, is a key factor driving the growth of international trade. Additionally, a booming e-commerce market has helped augment trade activities, resulting in increased freight forwarding market growth.
Further, integrated services offered by freight forwarders are another key factor responsible for the growth of the freight forwarding market. Besides transporting cargo, freight forwarders also provide other integrated services such as packaging, insurance, and documentation. Thus, the availability of a wide range of services has also resulted in propelling the growth of the freight forwarding market.
To remain ‘ahead’ of your competitors, request for a sample: https://www.globalinsightservices.com/request-sample/GIS10412/
COVID-19 Impact:
The COVID-19 pandemic resulted in flight cancellations, travel bans, and the implementation of quarantine measures, which caused massive disruption of the supply chain and logistics activities across the globe. The impact of the COVID-19 pandemic had resulted in workforce changes and temporary restrictions on the movement of goods. Several countries shut down their borders and limited transportation & travel to contain the COVID-19 pandemic. Due to the COVID-19 pandemic, important supply chains in the logistics and transportation industry were hampered, though differently across air, land, and sea modes of transportation. The supply chain disturbance created by the COVID-19 pandemic had negatively impacted competitiveness and jobs lost in the logistics industry for a while. Moreover, an increase in demand for healthcare and FMCG supplies such as hospital supplies, gloves, sanitizers, vaccinations, and perishable food items, propelled the growth of the freight forwarding market during the COVID-19 pandemic.
Major Players in the Global Freight Forwarding Market:
The key players studied in the global freight forwarding market are CEVA Logistics (The Netherlands), Deutsche Post DHL Group (Germany), Dimerco Express Corporation (Taiwan), DSV A/S (Denmark), FedEx Corporation (US), Kuehne + Nagel Management AG (Switzerland), MGF (Canada), Nippon Express Co., Ltd. (Japan), Schenker AG (Germany), and United Parcel Service of America, Inc. (US).
Get a Customized Scope to Match Your Need Ask an Expert: https://www.globalinsightservices.com/request-customization/GIS10412/
With Global Insight Services, you receive:
– 10-year forecast to help you make strategic decisions
– In-depth segmentation which can be customized as per your requirements
– Free consultation with lead analyst of the report
– Excel data pack included with all report purchases
– Robust and transparent research methodology
Contact Us:
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: [email protected]
Phone: +1-833-761-1700
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
This release was published on openPR.
