Freight forwarding is the shipment and coordination of goods from one destination to another destination via multiple or a single carrier via marine, air, rail or road. The other task of freight forwarder includes warehouse planning, supplying cargo insurance, and others. The global freight forwarding market is segmented on the basis of mode of transport, and services.
Market Dynamics
The continuous improvement in the aviation infrastructure has laid a solid foundation for the development of freight forwarding industry. For instance, in December 2020, the government of the U.K. finalized plans of constructing a third runway at the Heathrow International Airport. The new third runway will help the Heathrow Airport to fuel their capabilities, in terms of conducting airport cargo operations. Furthermore, renovation of runways, new construction of terminals, along with new airports are expanding the capacity of airports in order to cater to increasing volume of air cargo. For instance, in March 2019, Jakarta’s Soekarno-Hatta International Airport built 148,000 sq metre cargo facility in Jakarta, Indonesia. The new cargo facility’s volume ramped up from 700,000 tons to 900,000 tons, which is expected to propel the development of freight forwarding industry. Therefore, these factors are expected to propel the Global Freight forwarding Market growth over the forecast period (2021-2028).
Market Taxonomy
This report segments the Global Freight forwarding Market on the basis of mode of transport, services and region. On the basis of mode of transport, the Global Freight forwarding Market is segmented into Air Freight Forwarding, Ocean Freight Forwarding, Road Freight Forwarding, and Rail Freight Forwarding. On the basis of services, the Global Freight forwarding Market is segmented into Transportation & Warehousing, Packaging & Documentation, Insurance, and Value-added Services (Customs Clearance, Transportation Tracking, and Others). On the basis of region, the Global Freight forwarding Market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa (MEA).
Key features of the study:
Detailed Segmentation:
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*Browse market data tables and figures on “Global Freight Forwarding Market-forecast to 2028”
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