How big is freight forwarding market?

How big is freight forwarding market?

Global Freight Forwarding market size is about 186 billion USD in 2021, it will mark a CAGR of 3.3% in the forecast years till 2028.

How big is the global freight market?

Logistics Industry Size: Annual Estimates Range From $8 Trillion To $12 Trillion. The global logistics industry size is enormous. The industry contributes up to 10% GDP in the United States and about 12% of the global GDP. Economic industry indicators saw the logistics market closing in at $2 trillion in 2019.

How big is the air freight market?

The global air freight market was valued at $270.2 billion in 2019, and is projected to reach $376.8 billion by 2027, registering a CAGR of 5.6%.

How much has ocean freight increase?

Ocean freight rates continue to set new highs in 2021 Ocean freight rates have soared greatly for all trade routes since September 2020 due to the ongoing impacts of the COVID-19 pandemic. The freight rates in August reached $10,174/FEU, an increase of 466% on the previous year.

Who is the largest freight forwarder?

DHL is the largest freight forwarder in the world.

Who are main players in freight transportation?

The global freight transport industry is composed of a series of key actors:

• Maritime shipping lines. …
• Port terminal operators. …
• Port authorities. …
• Commercial real estate developers. …
• Maritime lock and canal operators. …
• Truck carriers. …
• Rail and rail terminal operators. …
• Third party logistics providers.

Is the freight business growing?

The global transportation industry is expected to grow at a rate of 3.4% through 2027. Although this is a positive outlook, growth in this sector is much less robust than pre-pandemic levels when predicted growth was close to 20%.

How much is the shipping industry worth?

A $1.5 Trillion Industry Is Projected To Grow To $2+ Trillion By 2023. You might wonder how big the shipping industry is. At InXpress Franchise, it is increasingly getting bigger, and in the United States alone, the $1.5 Trillion shipping and logistics industry is expected to be valued at $2+ trillion by 2023.

How big is the transportation and logistics industry?

The logistics industry ranges between $8 trillion and $12 trillion annually, calculated as a percentage of GDP. The U.S. attributes up to 10% of its annual GDP to the logistics industry — roughly $2 trillion in 2019.