The Global Freight Forwarding 2024 Report provides a comprehensive analysis of the current state and future outlook of the global freight forwarding market. The report highlights that the industry is continuing to adjust to recent economic conditions, with demand for air and sea freight forwarding services remaining subdued.
The report indicates that the global freight forwarding market experienced a 1.3% contraction in real terms in 2023, attributed to a global economic downturn, shifting consumer behavior, and an oversupply of services relative to demand.
Key features of the Global Freight Forwarding 2024 Report include:
- Analysis of the 2024 State of Logistics Survey: Detailed insights into air and sea freight forwarding trends.
- Evaluation of Asset-Light Freight Forwarding Technology: Examination of technological advancements in the sector.
- Semiconductor Supply Chain: Overview of the structure and logistics of the semiconductor supply chain.
- Market Size and Forecasting: Projections for the global freight forwarding market from 2023 to 2028, segmented by region and freight type.
- Competitive Landscape: Comparison of top global freight forwarders based on market share and revenue.
Key Findings:
- The global market contracted by 1.3% in 2023 but is expected to show modest growth in 2024.
- A projected real compound annual growth rate (CAGR) of 3.3% is anticipated over the next five years.
- Margin pressures are affecting 91% of freight forwarders, with profits and revenues returning to more typical levels in 2023.
- Asia Pacific experienced significant market contraction but remains the largest regional market.
- Revenue declines were observed among all top 20 freight forwarders in 2023.
Key Topics Covered:
- State of Logistics Survey 2024:
- Trade lane prospects
- Freight volumes and recovery
- Investment areas and challenges
- Technological advancements
- Price trends and modal shifts
- Asset-Light Freight Forwarding Technology:
- Innovations and impacts on the industry
- Semiconductor Supply Chain:
- Growth and logistics of semiconductor production and distribution
- Impact of U.S. and European production initiatives
- Market Size & Forecasting 2023-2028:
- Market size and growth projections by region and freight type
- Overview of demand and inventory trends
- Competitive Landscape:
- Analysis of the top 20 global freight forwarders by revenue and market share
- Comparison of profit margins, service offerings, and sustainability initiatives
Leading Freight Forwarding Providers:
- Bollore Group
- DB Schenker
- DHL Global Forwarding Freight
- DSV Panalpina
- Expeditors
- Kerry Logistics
- Kuehne + Nagel
- Kintetsu World Express
- Nippon Express
- Sinotrans
This report serves as a valuable resource for understanding market trends, developing digitization strategies, and identifying potential growth opportunities in the global freight forwarding industry.
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