Freight Brokerage Market - Demand And Trends

 The global freight brokerage market size was valued at $48.1 billion in 2021, and is projected to reach $90.7 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031. Rise in international trade activities and the growth of the e-commerce industry drives the growth of the global freight brokerage market.

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The market research study provides a detailed analysis of changing industry trends, top-most segments, value chain analysis, key investment business scenarios, regional space, and competitive space. The study is a key information source for giant players, entrepreneurs, shareholders, and owners in generating new strategies for the future and taking steps to enhance their market position. The report displays an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly evolving industry.

Key Market Players: 

Key participants in the global freight brokerage market examined in the research include Allen Lund Companies, Kenan Advantage Group, Inc. (KAG), ArcBest Corporation, Landstar System, Inc., Yusen Logistics co., Ltd., BNSF Logistics, C.H. Robinson Worldwide, Inc., Coyote Logistics LLC, Echo Global Logistics, Worldwide Express, Transplace, England Logistics, Inc., Hub Group, Inc., GlobalTranz, J.B. Hunt Transport, Inc., Schneider National, Inc., MODE Transportation, Redwood Logistics, Total Quality Logistics, and XPO Logistics, Inc.

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Prominent key factors that drive the growth of the freight brokerage market are increase in international trade activities, growth of e-commerce industry, and rise in popularity of consolidated air freight service. The market economy is responsible for the growth of the market. Countries such as China, India, Brazil, and South Africa are developing economies. Thus, the logistics sector witnessed prominent growth in these countries, which is expected to provide lucrative opportunities for the market. Moreover, in some undeveloped countries, there is an increase in the freight forwarding services, which is expected to boost the freight brokerage market.

Regional Analysis:

Based on region, the Asia-Pacific contributed toward the highest market share in 2021, accounting for more than one-third of the global freight brokerage market share. Furthermore, the Asia-Pacific region is set to contribute majorly toward the global market share in 2031. In addition, the region is predicted to register the fastest CAGR of 6.9% during the forecast timespan. The research also analyzes regions including LAMEA, North America, and Europe.

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