PUBLISHER: Allied Market Research | PRODUCT CODE: 1139930
PUBLISHER: Allied Market Research | PRODUCT CODE: 1139930
Freight forwarding is the process of organizing, coordinating, and shipping of goods from one place to another across international borders through a single or multiple carriers. Shipment of goods occur via air, land, or sea. Companies responsible for organizing shipments are known as freight forwarders.
Freight forwarders manage risks and benefits of shipping, both nationally and internationally by performing required tasks such as freight rate negotiations, container tracking, customs documentation, and freight consolidation. Moreover, freight forwarding comprises numerous stages such as export haulage, export customs clearance, origin handling, import customs clearance, destination handling, and import haulage.
Significant factors impacting growth of the global freight forwarding market include growth in international trade, expansion of the e-commerce industry globally, and rise in the free trade agreements between nations. Moreover, growth of the global market is affected by stringent emission regulations. Furthermore, technological advancements cost cutting and lead time reduction due to adoption of multi-modal system influence the market growth.
A free trade agreement (FTA) is an agreement between two or more countries under which countries agree on certain terms & conditions that affect trade in goods and services. The signing of free trade agreements facilitates better trade between two parties and results in rise in import-export activities, which boosts development of the entire logistics ecosystem. Reduction or elimination of tariffs, intellectual property protection, and fair treatment of investors are some of the important advantages of free trade agreements. In addition, the U.S. currently has 14 free trade agreements with 20 countries in force. For the U.S., the main aim of trade agreement is to reduce barriers to U.S. exports, protect U.S. interests competing abroad, and enhance rule of law in the FTA partner country or countries.
The freight forwarding market is segmented on the basis of service, mode of transport, logistics model, customer type, end-use industry, and region. By service, it is categorized into transportation & warehousing, packaging & documentation, and value-added services. By mode of transport, it is classified into air freight forwarding, sea freight forwarding, and land freight forwarding. By customer type, it is bifurcated into B2B and B2C. By end-use industry, it is fragmented into retail & e-commerce, manufacturing, healthcare, automotive, and others. By region, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
Key Market Segments
By Service
By Mode of Transport
By Customer Type
By End-use Industry
By Region