A large number of companies operate in the sector of freight forwarding services, which operate either as transportation intermediaries or as vertically integrated companies. A good number of companies, in addition to their core business, provide Third Party Logistics services as their clients demand complete solutions for their needs. Particularly, they provide a wide range of services (e.g. storage, organization and management of stock, packing/unpacking, distribution, etc.).
The value of the market of freight forwarding services was on the rise during 2014-2019, registering an average annual growth rate of 7.1%, after the significant fall it registered during 2009-2013 (cumulative fall of revenues of 29%). However, this upward trend was halted in 2020, as the market value dropped due to the pandemic.
As regards the breakdown of the market by means of transport, road haulage dominates the sector having a share of 58% in 2020, followed by sea freight (20%), while air and rail freight had a share of 12% and 7% respectively and combined freight had a share of 3%, during the same year.