Freight Forward Market by Services, Mode of Transportation

List of Tables

[190 Pages Report] 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.

KEY MARKET STATISTICS
Base Year [2023]	USD 32.14 billion
Estimated Year [2024]	USD 35.02 billion
Forecast Year [2030]	USD 58.37 billion
CAGR (%)	8.89%

Services: Utilization of varied freight services to reduce overheads, improve order fulfillment rates, and enhance customer satisfaction

Customs clearance is a critical service freight forwards offer, facilitating the smooth transition of goods across international borders. This service involves preparing required documentation, calculating taxes and duties, and ensuring compliance with the various regulations of importing and exporting countries. Import documentation encompasses all essential paperwork needed for the legal entry of goods into a specific country. This freight forward service includes preparing, submitting, and managing documents such as bills of lading, invoices, and certificates of origin. On the other hand, comprehensive insurance solutions tailored to the specific needs of each shipment instill confidence among shippers, as they provide coverage beyond the minimal liability limits carried by carriers. The international export service involves shipping goods from one country to another, adhering to strict international standards and regulations. Freight forwarders leverage their extensive networks and expertise to optimize shipping routes, manage export documentation, and ensure compliance with foreign policies. Inventory management by freight forwarders includes the strategic oversight of storing, handling, and moving goods within the supply chain. This service enables businesses to reduce overheads, improve order fulfillment rates, and enhance customer satisfaction through efficient stock control and real-time visibility into inventory levels. Packing services ensure that goods are adequately prepared for safe transportation, adhering to both carrier requirements and destination regulations. Freight forwards provide expert packing solutions that minimize the risk of damage, utilizing appropriate materials and techniques for each type of commodity. Storage solutions offer flexible options for warehousing goods between the points of origin and destination or during transit. These services, provided by freight forwards, include short-term and long-term storage, offering secure facilities to accommodate a wide range of goods.

Mode of Transportation: Growing preference for air freight solutions due to their rapid transit time and high security

In the dynamic freight forwarding arena, the choice of transportation mode is pivotal, tailored to meet specific logistics requirements regarding speed, cost, and cargo characteristics. Air freight forwarding stands out for its rapid transit times and high security, making it an ideal choice for time-sensitive or high-value shipments. Conversely, in-road forwarding offers unparalleled flexibility and point-to-point service, facilitating seamless door-to-door deliveries, particularly across continental distances. Sea freight forwarding, the backbone of global trade, excels in moving large volumes at the lowest costs, preferred for its economic efficiency. Each mode presents unique advantages, guiding businesses to optimize their supply chain operations and achieve cost-effective, timely, and reliable transportation solutions.

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.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Freight Forward Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis 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: 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 examination of the current state of vendors in the Freight Forward Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. 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 this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

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., Bollore 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., Kuhne + 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

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Freight Forward Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Freight Forward Market?

3. What are the technology trends and regulatory frameworks in the Freight Forward Market?

4. What is the market share of the leading vendors in the Freight Forward Market?

5. Which modes and strategic moves are suitable for entering the Freight Forward Market?

Product Code: MRR-C573DF32052E

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising eCommerce industry and need for coordination and shipment of goods
  - 5.1.1.2. Increasing demand for third-party ancillary services and value-added extra services
  - 5.1.1.3. Improvements to enhance customer service experience
- 5.1.2. Restraints
  - 5.1.2.1. Concerns associated with shipping delays and restrictions
- 5.1.3. Opportunities
  - 5.1.3.1. Digitization and technology advancements in freight forwarding
  - 5.1.3.2. Increasing amalgamation activities in the freight forwarding industry
- 5.1.4. Challenges
  - 5.1.4.1. Unidentified product damages and loss of freight and increasing pricing pressure
5.2. Market Segmentation Analysis
- 5.2.1. Services: Utilization of varied freight services to reduce overheads, improve order fulfillment rates, and enhance customer satisfaction
- 5.2.2. Mode of Transportation: Growing preference for air freight solutions due to their rapid transit time and high security
5.3. Market Trend Analysis
- 5.3.1. Introduction of novel freight forward services with government efforts to strengthen logistics
- 5.3.2. Proliferating import & export activities with increasing number of trade activities in APAC region
- 5.3.3. Presence of well-established native market players with expanding e-freight services
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Freight Forward Market, by Services

6.1. Introduction
6.2. Customs Clearance
6.3. Import Documentation
6.4. Insurance
6.5. International Export
6.6. Inventory Management
6.7. Packing
6.8. Storage

7. Freight Forward Market, by Mode of Transportation

7.1. Introduction
7.2. Air Freight Forwarding
7.3. In-Road Forwarding
7.4. Sea Freight Forwarding

8. Americas Freight Forward Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Freight Forward Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Freight Forward Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
- 11.3.1. Dentons advises transport and logistics company GEODIS on acquisition of trans-o-flex.
- 11.3.2. Unique Logistics Announced Acquisition Closing of Operating Subsidiaries and Affiliates of Former Parent Company.
- 11.3.3. Freightify raises USD 12 million in series A led by Sequoia Capital.
- 11.3.4. Northstar.vc partners with world's largest LCL consolidator Allcargo Group to explore investments in growing LogTech sector.
- 11.3.5. Canadian Freight Forwarder FFAF Cargo Launches India Subsidiary.
- 11.3.6. GoFreight Raised USD 23M to Automate Freight Forwarding Workflows and Expand its Team.
- 11.3.7. Neste and CargoAi announced a partnership offering freight forwarders and their clients an option to reduce the carbon emissions of their air cargo transports.
- 11.3.8. Bollore Logistics awarded the FPSO contract.
- 11.3.9. Toll Group launches a S$20 million (USD 14.20 million) global innovation center in Singapore to create a next generation supply chain.
- 11.3.10. GEODIS completed acquisition of Need It Now Delivers.
- 11.3.11. Yusen Logistics launched consolidation of direct ocean freight forwarding service from Bangladesh to Japan.
- 11.3.12. AIT Worldwide Logistics Forms CRAF Partnership with Kalitta Air.
- 11.3.13. DHL Global Forwarding invested EUR 7m (USD 6.88 million) in a new state-of-the-art facility and head office in Johannesburg.
- 11.3.14. Bollore Logistics completed acquisition of Lynair Logistics.
- 11.3.15. Hellmann Worldwide Logistics takes control of Peru air forwarder.
- 11.3.16. Expedock Raised USD 13.5M to Help Freight Forwarders Improve Use of Data.
- 11.3.17. DP World launched a new digital product for freight forwarders.
- 11.3.18. Waymo Via and Uber Freight, and Gatik collaborated for autonomous logistics.
- 11.3.19. A.P. Moller - Maersk launched Maersk Air Cargo in response to customers' global air cargo needs.
- 11.3.20. Nippon Express (India) Becomes First Japanese Forwarder to Open Logistics Center in Cargo Area of Indira Gandhi International Airport (Delhi).
- 11.3.21. DHL Global Forwarding launched GoGreen Plus Service to reduce emissions in air freight.
- 11.3.22. Flexport secured funding as it looks to expansion.
- 11.3.23. Kerry Logistics Network Won Air Cargo Services Award At the British International Freight Association Freight Service Awards 2021.

12. Competitive Portfolio

12.1. Key Company Profiles
12.2. Key Product Portfolio