Freight forwarding Market | $285.15 billion | Growing at a CAGR of 4.1% by 2031 | Uber Freight LLC, MGF

PORTLAND, OR, US, February 27, 2024 /EINPresswire.com/ -- Increase in international trade activities, the expansion of the e-commerce sector across the globe, and surge in the free trade agreements between various countries drive the growth of the global Freight Forwarding Market. However, strict regulations regarding emission levels hinder the market growth. On the other hand, advancements in technologies and attaining cost cutting & reducing lead time became possible through the adoption of multimodal systems. This, in turn, is estimated to present opportunities during the forecast period.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/2875

The global freight forwarding market was valued at $192.50 billion in 2021, and is projected to reach $285.15 billion by 2031, growing at a CAGR of 4.1% from 2022 to 2031.

Asia-Pacific is expected to dominate the global freight forwarding market in 2021. The growth of the market in Asia-Pacific is majorly attributed to the booming e-commerce industry in emerging economies in the region. High government support for development of logistics infrastructure in the region is boosting the market growth. By 2022, Asia-Pacific is expected to account for 42% of the total retail sales globally along with 70% of digital commerce sales. Furthermore, strong economy of Japan, development of infrastructure, and rise in trade facilitation through agreements such as South Asian Preferential Trade Agreement (SAPTA) are the factors that are expected to foster the growth of the freight forwarding market during the forecast period.

Based on service, the transportation and warehousing segment accounted for the largest market share in 2021, contributing to more than half of the global freight forwarding market, and is expected to maintain its lead position during the forecast period. This is due to rise in adoption of warehousing and transportation management software to optimize routes, convert paper-based documentation into digital analog, decrease freight costs, track deliveries in real-time, and improve customer service. However, the value-added services segment is estimated to witness the largest CAGR of 5.7% from 2022 to 2031, owing to changes in consumer habits and rise of the e-commerce sector.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/freight-forwarding-market/purchase-options

The growth of the global freight forwarding market is propelling, owing to growth in international trade, expansion of the e-commerce industry worldwide, and rise in free trade agreements between nations.

However, stringent emission regulations restrain growth of the freight forwarding industry. Furthermore, increase in technological advancements, cost cutting and lead time reduction due to adoption of multi-modal system are the factors expected to offer growth opportunities during the forecast period.

𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

𝐔𝐛𝐞𝐫 𝐅𝐫𝐞𝐢𝐠𝐡𝐭 𝐋𝐋𝐂, 𝐔𝐧𝐢𝐭𝐞𝐝 𝐏𝐚𝐫𝐜𝐞𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐨𝐟 𝐀𝐦𝐞𝐫𝐢𝐜𝐚, 𝐈𝐧𝐜., 𝐍𝐢𝐩𝐩𝐨𝐧 𝐄𝐱𝐩𝐫𝐞𝐬𝐬 𝐂𝐨., 𝐋𝐭𝐝., 𝐌𝐆𝐅, 𝐇𝐞𝐥𝐥𝐦𝐚𝐧𝐧 𝐖𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬, 𝐊𝐮𝐞𝐡𝐧𝐞+𝐍𝐚𝐠𝐞𝐥 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐀𝐆, 𝐃𝐢𝐦𝐞𝐫𝐜𝐨, 𝐅𝐞𝐝𝐄𝐱, 𝐓𝐫𝐚𝐧𝐬𝐩𝐨𝐫𝐭𝐞𝐜𝐚, 𝐂𝐄𝐕𝐀 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐀𝐆, 𝐃𝐒𝐕 𝐀/𝐒, 𝐒𝐜𝐡𝐞𝐧𝐤𝐞𝐫 𝐃𝐞𝐮𝐭𝐬𝐜𝐡𝐥𝐚𝐧𝐝 𝐀𝐆, 𝐃𝐞𝐮𝐭𝐬𝐜𝐡𝐞 𝐏𝐨𝐬𝐭 𝐃𝐇𝐋, 𝐄𝐱𝐩𝐞𝐝𝐢𝐭𝐨𝐫𝐬 𝐈𝐧𝐭𝐞𝐫𝐧𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐨𝐟 𝐖𝐚𝐬𝐡𝐢𝐧𝐠𝐭𝐨𝐧, 𝐈𝐧𝐜., 𝐁𝐨𝐥𝐥𝐨𝐫é 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/2875

Based on mode of transport, the sea freight forwarding segment contributed to the highest market share in 2021, accounting for nearly half of the global freight forwarding market, and is expected to maintain its dominant share during the forecast period. This is due to new technological developments such as machine-to-machine (M2M) communication and focus on reducing carbon footprints. However, the air freight forwarding segment is projected to manifest the fastest CAGR of 5.2% from 2022 to 2031. This is attributed to increase in offering of multi-modal services and rise in express-parcel deliveries worldwide.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Asia-Pacific to maintain its dominance by 2031

Based on region, Asia-Pacific contributed to the highest market share in 2021, accounting for nearly two-fifths of the global freight forwarding market, and is estimated to maintain its dominance by 2031. This is attributed to surge in the e-commerce industry in emerging economies and supportive initiatives for the development of logistics infrastructure. However, North America is projected to manifest the largest CAGR of 5.0% during the forecast period. This is due to technological advancements that led to digitalization and the presence of leading players.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By service, the value-added services segment is anticipated to exhibit significant growth in the near future.

By mode of transport, the air freight forwarding segment is anticipated to exhibit significant growth in the near future.

By customer type, the B2C segment is anticipated to exhibit significant growth in the near future.

By end-use industry, the retail and e-commerce segment is anticipated to exhibit significant growth in the near future.

By region, North America is anticipated to register the highest CAGR during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Pharmaceutical Logistics Market - https://www.globenewswire.com/en/news-release/2022/10/31/2544570/0/en/Pharmaceutical-Logistics-Market-to-Garner-106-8-Billion-by-2031-Allied-Market-Research.html

On-demand Logistics Market - https://www.prnewswire.com/news-releases/on-demand-logistics-market-to-reach-80-6-billion-globally-by-2031-at-20-8-cagr-allied-market-research-301680063.html

Logistics Automation Market - https://www.prnewswire.com/news-releases/logistics-automation-market-to-reach-147-38-billion-globally-by-2030-at-11-9-cagr-allied-market-research-301537076.html

Freight Trucking Market - https://www.globenewswire.com/en/news-release/2022/11/16/2557532/0/en/Freight-Trucking-Market-Size-to-Reach-4-457-4-Billion-by-2031-Allied-Market-Research.html

David Correa
Allied Market Research
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