Freight Forwarding Market
To provide an industry analysis of the freight forwarding market, focused on size, trends, key competitors, CAGR, amount of money invested in the industry, and the tonnage transported every year. The focus will be on the global market, the LATAM market and the Ecuadorian market.
- The total value of the global freight forwarding market in 2016 was $141.9 billion.
- It was predicted that the market will grow at a CAGR of 4.1% until 2020 and will continue to grow at a CAGR of 3.5% until 2024.
- The South American market is predicted to have a market share of 5.9% in 2020 and roughly $10 billion in revenue.
- The major countries in the South American market are Brazil and Chile. Unfortunately, according to Mordor intelligence, LATAM's growth will be low in the next 5 years except for Mexico, where the growth of the industry will be moderate due to its proximity and ties to the US.
- The biggest players in the freight forwarding industry include DHL, Kuehne + Nagel, Expeditors, DSV A/S, and DB Shenkers. Their market share at the end of 2016 was as follows: DHL - 7.9%; Kuehne + Nagel - 7%; DB Shenker Logistics - 5.2%; Expeditors - 4.6%; DSV A/S - 3.5%.
- In 2018, the total international seaborne freight cargo amounted to 9,535 billion tonnes while the global airfreight cargo amounted to 6.69 million tonnes.
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