Global Freight and Logistics Market Size to Exceed 24.45 Billion by 2033: Market Growth Report

Global Freight and Logistics Market Size To Exceed 24.45 Billion by 2033

According to a research report published by Spherical Insights & Consulting, The Global Freight and Logistics Market Size is Expected to Grow from USD 16.43 Billion in 2023 to 24.45 Billion by 2033, at a CAGR of 4.06% during the forecast period 2023-2033.                       

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Freight and Logistics Market Size, Share, and COVID-19 Impact Analysis, By Logistics Function (Courier, Express & Parcel (CEP), Freight Forwarding, Freight Transport, Warehousing, and Storage), By End User Industry (Agriculture, Fishing, and Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, Wholesale and Retail Trade, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033                            

Freight and logistics arket is the world industry responsible for the carrying, keeping, and delivering of goods by various modes, such as road, rail, air, and sea. It involves services like freight forwarding, warehousing, inventory management, supply chain solutions, and last-mile delivery, whereby the movement of goods is efficiently made across domestic and overseas markets. Moreover, the freight and logistics market is driven by international trade growth, e-commerce development, increasing demand for quick deliveries, and supply chain digitalization advancement. Greater automation adoption, IoT-based monitoring, and blockchain increase efficiency. Urbanization, industrialization, and investments in transport infrastructure from governments further stimulate market growth, together with the increasing demand for cold chain logistics and green solutions. However, the freight and logistics market is subjected to constraints including high transportation expense, supply chain disruption, regulatory complexity, shortage of labor, fuel price volatility, and insufficient infrastructure in developing areas, which affect operational effectiveness and profitability.

The freight transport segment accounted for the largest share of the global freight and logistics market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the logistics function, the global freight and logistics market is divided into courier, express, and parcel (CEP), freight forwarding, freight transport, warehousing, and storage. Among these, the freight transport segment accounted for the largest share of the global freight and logistics market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This is prompted by growing global trade, growing e-commerce, and rising industrial production. It covers road, rail, air, and sea transport to provide efficient movement of goods between supply chains, the most prevalent logistics function globally.  

The wholesale and retail Trade segment accounted for a substantial share of the global freight and logistics market in 2023 and is anticipated to grow at a rapid pace during the projected period.

On the basis of the end user industry, the global freight and logistics market is divided into agriculture, fishing, forestry, construction, manufacturing, oil and gas, mining and quarrying, wholesale and retail trade, and others. Among these, the wholesale and retail trade segment accounted for a substantial share of the global freight and logistics market in 2023 and is anticipated to grow at a rapid pace during the projected period. This is tied to growing e-commerce, supply chain globalization, and increasing consumer demand for rapid deliveries. Logistical solutions must efficiently manage inventory, distribution, and last-mile delivery, which makes this market a prevalent end user.

Asia Pacific is projected to hold the largest share of the global freight and logistics market over the projected period.  

Asia Pacific is projected to hold the largest share of the global freight and logistics market over the projected period.This is driven by high production volumes, rising e-commerce, and robust trade networks. Top economies such as China, India, and Japan contribute immensely, facilitated by government spending on infrastructure, increasing industrialization, and innovations in digital logistics and supply chain management.

Middle East & Africa is expected to grow at the fastest CAGR of the global freight and logistics market during the projected period. This is accelerated by increasing trade flows, growing e-commerce, and major infrastructure investments. Initiatives by the government, including Saudi Vision 2030 and Africa's logistics corridors, increase connectivity, triggering increased freight transport, warehousing, and supply chain optimization in the region. 

Company Profiling 

Major vendors in the global freight and logistics market are A.P. Moller - Maersk, DHL Group, FedEx, DB Schenker, DSV A/S (De Sammensluttede Vognmænd af Air and Sea), CMA CGM Group, Bollore Logistics, C.H. Robinson, GEODIS, Expeditors International of Washington, Inc., GXO Logistics, JD Logistics, Japan Post Holdings Co., Ltd., J.B. Hunt Transport, Inc., Aramex, CJ Logistics, DP World, Hellmann Worldwide Logistics, Hub Group Inc, Kintetsu World Express, KEX Express (US) LLC, International Distributions Services, CTS Logistics Group, Culina Group, Dachser, Americold, Allcargo Logistics Ltd. and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development 

• In March 2024, Aramex bolstered its Saudi Arabian presence with the opening of a new regional office in Riyadh, to greatly improve Aramex's ability to serve new and existing companies throughout the region and also to enhance the Kingdom's logistics infrastructure and to help achieve Vision 2030's vision of making Saudi Arabia a global logistics hub.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global freight and logistics market based on the below-mentioned segments:   

Global Freight and Logistics Market, By Logistics Function

• Courier
• Express and Parcel (CEP)
• Freight Forwarding
• Freight Transport
• Warehousing and Storage

Global Freight and Logistics Market, By End User Industry

• Agriculture
• Fishing
• Forestry
• Construction
• Manufacturing
• Oil and Gas
• Mining and Quarrying
• Wholesale and Retail Trade
• Others

Global Freight and Logistics Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa