Ti: global freight forwarding sees steady growth in 2024

The global freight forwarding market experienced steady growth in 2024, according to Ti's latest report. The market expanded by 2.4% in real terms, reaching a value of EUR198.9 billion.

As Ti's figures show, the air freight forwarding market in 2024 reached EUR88.1 billion. The market witnessed significant growth in the first half of the year, expanding by 9.6%.

This growth was primarily driven by booming e-commerce volumes and strong consumer spending, as reported by Ti. These factors led to lower inventory levels and increased demand for air freight services. Ti reports that the sea freight forwarding market in 2024 reached EUR110.9 billion.

The market experienced growth of 2.5%. Several factors influenced the market, including the rerouting of vessels around the Cape of Good Hope, port congestion, and new environmental regulations, as noted by Ti. Despite these challenges, the sea freight forwarding market demonstrated resilience.

Ti's report indicates that the global freight forwarding market's growth in 2024 was influenced by various factors, including global economic conditions, geopolitical events, and technological advancements.

The market is expected to continue evolving, driven by increasing globalization, supply chain complexity, and the growing demand for efficient and reliable logistics solutions.