Freight Forwarding Services Market Scope
Freight forwarding services consist of strategic logistics planning and execution for the international movement of goods. These activities include transportation by trucks, aircraft, ships, barges, railways, and related logistics activities such as handling and storage. According to the expertise, “Ocean Freight Forwarding to witness high growth through the forecast period. The Ocean Freight Forwarding market size will reach USD 152145 million by 2025, from USD 99800 million in 2019.” In 2019, the total mail volume delivered by the United States postal service alone was over 142.5 Billion units. The booming e-commerce market and the growth in international trade volumes is a major driver for the freight forwarding market. Emerging markets provide outstanding opportunities for logistics service providers, both in terms of overall growth rates and in response to rapidly changing market trends.
According to AMA, the Global Freight Forwarding Services market is expected to see growth rate of 4.21% Research Analyst at AMA estimates that European and United States Manufacturers will contribute to the maximum growth of Global Freight Forwarding Services market throughout the predicted period.
DHL Group (Germany), C.H.Robinson (United States), Kuehne + Nagel (Switzerland), DB Schenker Logistics (Germany), CEVA Logistics (United Kingdom), DACHSER (Germany), GEODIS (France), DSV (Denmark), Sinotrans Limited (China) and Panalpina (Switzerland) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Expeditors (United States), Nippon Express (Japan), Pantos Logistics (South Korea), Agility Logistics (Switzerland), Hitachi Transport (Japan), Hellmann (Germany), Damco (Netherlands), KWE (Japan), Logwin (Luxembourg), Yusen Logistics (Netherlands), Sankyu (Japan) and Kerry Logistics (Hong Kong).
Segmentation Overview
The study have segmented the market of Global Freight Forwarding Services market , by Application (Industrial and Manufacturing, Retail, Healthcare, Media & Entertainment, Military, Oil & Gas, Food & Beverages and Others (Agro Commodities, Government and Public Utilities, & Fertilizer, Jewelry, etc.)) and Region with country level break-up.
On the basis of geography, the market of Freight Forwarding Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Shift Towards Ocean Freight Industry from Air Freight Industry
Market Growth Drivers:
Increasing Demand for Cost-Effective Shipping and Growing Demand For Integrated Service
Challenges:
Volatile Nature of Trade Activities
Restraints:
Shifting Manufacturing Process to Domestic Base to Reduce Total Cost of Ownership (TCO), Stringent Regulation Regarding Import and Export and Hostile Relationships among Countries such as Trade War
Opportunities:
Growing Cross Border Trade Activities and Economic Growth in Emerging Countries
Market Leaders and their Expansionary Development Strategies
In April 2019, DSV announced that they had acquired PANALPINA WORLD TRANSPORT (HOLDING) LTD. in a USD 4.6 billion acquisition. The acquired organization will be renamed “DSV Panalpina”. This acquisition will create a global leader in transportation and logistics services providers.
The risks and liabilities of a freight forwarder taking responsibility for shipment include total loss of cargo, damage of cargo, rerouting of cargo, non-collection of documents, the incorrect release of cargo, and many others. Under all the above conditions, the freight forwarder is liable but only if proven of negligent behavior on their part.
Key Target Audience
Freight Forwarding Services Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.