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Global Freight Brokerage Market Growth, Trends, Forecast: By Services: Intermodal, Truckload, Less than Truckload; By Customer Type: Business to Business (B2B), Business to Consumer (B2C), By Mode of Transport: Waterways, Roadways, Others; By End-Use Industry; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global Freight Brokerage Market Outlook
The global freight brokerage market size reached nearly USD 59.62 billion in 2023. The market is estimated to grow at a CAGR of 5.90% between 2024 and 2032, reaching a value of around USD 99.77 billion by 2032.
Key Trends in the Market
Freight brokerage is a branch of business, acting as an intermediary between the shipper and carrier. It also facilitates communication between the shipper and carrier. The role of a freight broker is to match shippers with suitable carriers to meet their transportation requirements and to provide the most efficient and cost-effective shipping solutions for their clients.
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- The globalisation of trade is one of the major drivers augmenting the global freight brokerage market value. The rapidly increasing international trade volumes have bolstered the demand for cross-border freight services. Freight brokers play a crucial role in managing the complexities of international logistics, including customs clearance, documentation, and compliance with regulations.
- One of the significant trends in the global freight brokerage market is the increasing adoption of digital platforms and technologies. Technological advancements have revolutionised the way freight brokerages operate, making them more efficient and transparent. Digital platforms also provide real-time visibility into shipments, automate various processes, and offer data analytics capabilities.
- Another important trend in the market is the rise of the e-commerce sector and its impact on logistics. With the growth of online shopping, there has been a surge in the demand for efficient and reliable freight transportation services. Freight brokers play a crucial role in connecting e-commerce businesses with the right carriers and managing the logistics involved in shipping products to customers.
Market Analysis
Based on services, the market is segmented into intermodal, truckload, and less than truckload. On the basis of customer type, the market can be bifurcated into business-to-business (B2B) and business-to-consumer (B2C). The market, based on mode of transport, is segmented into waterways and roadways, among others.
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Based on the end-use industry, the market is segmented into retail and e-commerce, manufacturing, healthcare, and automotive, among others. The major regional markets for freight brokerage are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global freight brokerage market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- C.H. Robinson Worldwide, Inc
- Total Quality Logistics, LLC
- XPO, Inc.
- Echo Global Logistics, Inc.
- Worldwide Express, LLC,
- Coyote Logistics, LLC
- Landstar System Holdings, Inc
- Mode Global, LLC
- GlobalTranz Enterprises, LLC
- Hub Group, Inc
- Others
Market Share by Customer Type
Business-to-business (B2B) holds a significant share of the freight brokerage market. B2B customers require transportation services to move their goods or materials from one location to another. Such customers in the market encompass a wide range of sectors, including manufacturing, retail, e-commerce, construction, and more.
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B2B customers usually have a consistent volume of shipments, which may be recurring or periodic. Due to this, the demand for freight shipping is constant from business-to-business customers, propelling the market value.
Market Share by Mode of Transport
The waterway mode of transport is likely to represent a considerable share in the global freight brokerage market development, mainly owing to the rapidly growing globalisation. Shipping goods via sea is a crucial mode of transportation for international trade, and it is particularly suited for transporting large volumes of goods over long distances.
Ships can carry a wide range of cargo, including containers, bulk commodities, and oil tankers. Maritime transport is generally slower than other modes but offers cost advantages for intercontinental shipments.
Competitive Landscape
C.H. Robinson Worldwide, Inc. is a leading company operating in the transportation sector that aims to meet the logistics and technology needs of numerous companies around the world. The company was founded in the year 1905 and its headquartered in Minnesota, the United States. Since its establishment, the company has developed expertise in various fields including product sourcing, technology, and supply chain, among others.
Total Quality Logistics, LLC stands as a prominent third-party logistics (3PL) firm established in the United States. Its inception took place in 1997, with its headquarters situated in Cincinnati, Ohio. TQL has since grown to become one of the leading freight brokerage companies in North America, delivering comprehensive solutions. Its primary focus lies in establishing connections between shippers and carriers to efficiently facilitate the transportation of goods across diverse industries.
XPO, Inc, based in Connecticut, the USA, is a renowned worldwide company specialising in transportation and logistics. Since its establishment in 1989, it has experienced remarkable growth, positioning itself as one of the premier logistics providers globally. The company leverages cutting-edge data analytics, automation, and artificial intelligence to optimise supply chain operations and enhance overall efficiency.
Other market players include Echo Global Logistics, Inc., Worldwide Express, LLC, Coyote Logistics, LLC, Landstar System Holdings, Inc, Mode Global, LLC, GlobalTranz Enterprises, LLC, and Hub Group, Inc., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Services |
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| Breakup by Customer Type |
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| Breakup by Mode of Transport |
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| Breakup by End-Use Industry |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Freight Brokerage Market Analysis
8.1 Key Industry Highlights
8.2 Global Freight Brokerage Historical Market (2018-2023)
8.3 Global Freight Brokerage Market Forecast (2024-2032)
8.4 Global Freight Brokerage Market by Services
8.4.1 Intermodal
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Truckload
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Less than Truckload
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global Freight Brokerage Market by Customer Type
8.5.1 Business to Business (B2B)
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Business to Consumer (B2C)
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Freight Brokerage Market by Mode of Transport
8.6.1 Waterways
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Roadways
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Others
8.7 Global Freight Brokerage Market by End-Use Industry
8.7.1 Retail and E-commerce
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Manufacturing
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Healthcare
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Automotive
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Others
8.8 Global Freight Brokerage Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Freight Brokerage Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Freight Brokerage Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Freight Brokerage Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Freight Brokerage Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Freight Brokerage Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 C.H. Robinson Worldwide, Inc
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Total Quality Logistics, LLC
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 XPO, Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Echo Global Logistics, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Worldwide Express, LLC,
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Coyote Logistics, LLC
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Landstar System Holdings, Inc
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Mode Global, LLC
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 GlobalTranz Enterprises, LLC
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Hub Group, Inc
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Freight Brokerage Market: Key Industry Highlights, 2018 and 2032
2. Global Freight Brokerage Historical Market: Breakup by Services (USD Billion), 2018-2023
3. Global Freight Brokerage Market Forecast: Breakup by Services (USD Billion), 2024-2032
4. Global Freight Brokerage Historical Market: Breakup by Customer Type (USD Billion), 2018-2023
5. Global Freight Brokerage Market Forecast: Breakup by Customer Type (USD Billion), 2024-2032
6. Global Freight Brokerage Historical Market: Breakup by Mode of Transport (USD Billion), 2018-2023
7. Global Freight Brokerage Market Forecast: Breakup by Mode of Transport (USD Billion), 2024-2032
8. Global Freight Brokerage Historical Market: Breakup by End-Use Industry (USD Billion), 2018-2023
9. Global Freight Brokerage Market Forecast: Breakup by End-Use Industry (USD Billion), 2024-2032
10. Global Freight Brokerage Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Freight Brokerage Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Freight Brokerage Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Freight Brokerage Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Freight Brokerage Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Freight Brokerage Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Freight Brokerage Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Freight Brokerage Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Freight Brokerage Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Freight Brokerage Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Freight Brokerage Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Freight Brokerage Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Freight Brokerage Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 59.62 billion
The market is projected to grow at a CAGR of 5.90% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around USD 99.77 billion by 2032.
The market is being driven by the steadily increasing demand for cross-border freight services and the growing dependency of countries on international trade for resources.
The market is augmented by the rising adoption of automation and data analytics and the rapid growth of the e-commerce sector, enhancing the demand for freight services.
The major regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major end-use industries considered in the market report include retail and e-commerce, manufacturing, healthcare, and automotive, among others.
The key players in the global freight brokerage market include C.H. Robinson Worldwide, Inc, Total Quality Logistics, LLC, XPO, Inc., Echo Global Logistics, Inc., Worldwide Express, LLC, Coyote Logistics, LLC, Landstar System Holdings, Inc, Mode Global, LLC, GlobalTranz Enterprises, LLC, and Hub Group, Inc., among others.
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