According to region, Europe held the largest market share of 31.8% in terms of value in the worldwide freight forwarding industry in 2019. North America and Asia Pacific were the next two largest markets, respectively. Major companies including Kuehne + Nagel, DHL, DB Schenker, and Panalpina Inc. are present in the area, which is largely responsible for its growth. The Freight Forwarding Market is expanding significantly in the Asia Pacific area.
The region's Freight Forwarding Market expansion is primarily related to the presence of quickly expanding economies like China and India. Leading corporations are concentrating on merger and acquisition in order to increase their companies' footprint in these fast-growing economies since they present growth potential. For instance, Kuehne+Nagel (K+N), a global third-party logistics (3PL) services provider with headquarters in Germany, paid US$ 1.5 billion in March 2021 to purchase China-based freight forwarder Apex International Corporation. The acquisition's goal was to increase its presence in the Asia area.
