US Freight Brokerage Market Size By Commute (Air, Truck), By Service (FTL, LTL), By End-Use (Manufacture and Automotive, Oil and Gas, Mining) And Forecast

US Freight Brokerage Market Size And Forecast

US Freight Brokerage Market size was valued at USD 3.53 Billion in 2024 and is projected to reach USD 41.76 Billion by 2031, growing at a CAGR of 36.20% from 2024 to 2031.

An increase in convenience coupled with the increase in investment is the key reason for the rise in Business in US . The US Freight Brokerage Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

US Freight Brokerage Market Definition

Think of a freight broker as someone who helps connect businesses (the shippers) with trucking companies (the motor carriers). They're like a matchmaker, hired by the shipper to make sure their goods get from A to B smoothly. They navigate the often-complicated logistics and make their money by finding the sweet spot between what the shipper is willing to pay and what the carrier charges. In the US, the FMCSA keeps an eye on things and issues licenses to freight brokers. Did you know there are around 17,000 freight brokers working in the US? Businesses use them for all sorts of reasonsto tap into the broker's cutting-edge tech and network, potentially save on shipping costs, scale their operations easily, understand the latest market trends, save time on transport logistics, and make sure everything is above board legally.

US Freight Brokerage Market Overview

The Freight service comes up with advanced technological offerings which ease the way goods are being transferred. Advanced concepts of Artificial Intelligence are utilized for automatic matching. For example, companies like Transfix, Uber Freight, Loadsmart etc. use different Machine Learning Algorithms which can match the carrier and Load based on the origin, destination, price, etc. Traditional means usually make the Transport delayed. But with this process, is very fast and easy to monitor. Due to the Digital Freight Booking, the load can be tracked each minute. These conveniences play a greater role in its acceptability.

The potential of this market is huge, That is why big players are entering this market. They have huge capital. So, they are investing heavily. Since they are investing heavily, so they are adopting advanced technologies in their business for automation. Career 260 and Navisphere are investing heavily and they have automated their infrastructure to handle billions of dollars worth of freight. Uber has utilized technology and leveraged it extensively. There are lots of Freight brokers who registered in this business. Thus, the increase in investment is also increasing the possibilities for Business.

Due to Covid-19, there has been a huge blow in the shipping transport between countries. To avoid the risk of spreading infection, many countries restricted their boundaries. Goods from other countries have been stopped from importing. That is why exports have reduced in many business sectors. So, it posed a threat to the Freight business. However, this is temporary and Markets in 2021 have tried to gain momentum. massive vaccination drives might reduce the risks of further spreading.

US Freight Brokerage Market Segmentation Analysis

The US Freight Brokerage Market can be segmented on the basis of Commute, Service, And End-Use.

US Freight Brokerage Market, By Commute

• Air
• Truck
• Rail
• Water
• Others

The market is bifurcated into Based on Commute; the United States Freight Brokerage market has been segmented into Truck, Air, Rail, and Water. Truck accounted for the largest market share in 2020, and is projected to grow at a CAGR of 4.63% during the forecast period. Air was the second-largest market in 2020.

US Freight Brokerage Market, By Service

• FTL
• LTL

Based on Service, the market is bifurcated into LTL and FTL. LTL accounted for the largest market share in 2020 and is projected to grow at the highest CAGR of 5.66% during the forecast period. FTL was the second-largest market in 2020.

US Freight Brokerage Market, By End-Use

• Manufacture and Automotive
• Oil and Gas, Mining
• Agriculture, Fishing, and Forestry
• Construction
• Others

On the basis of End-Use, the United States Freight Brokerage Market is classified into Manufacture and Automotive, Oil & Gas, Mining, Agriculture, Fishing and Forestry, Construction, and Others. Manufacture and Automotive accounted for the largest market share in 2020, and is projected to grow at a CAGR of 4.63% during the forecast period. Oil & Gas was the second-largest market in 2020.

Key Players

The “US Freight Brokerage Market” study report will provide a valuable insight with an emphasis on the US market. The major players are CH Robinson, Total Quality Logistics, XPO Logistics Inc, Echo Global Logistics, Worldwide Express, Cargocentric, Inc., Cargomatic, Inc., Convoy, TGMatrix Limited, And Uber Freight LLC.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

Report Scope

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Reasons to Purchase this Report

We dig deep into the market, using both the numbers and the stories behind them, breaking it down by different groups based on their economic situation and more. You'll get the market value in USD Billion for every segment and sub-segment. We'll point out which region and segment are expected to grow the fastest and lead the way. We'll also break down the market by geography, showing you where the product/service is being used and what's influencing the market in each area. Expect a competitive landscape view, including how the major players rank, what new services/products they've launched, what partnerships they've formed, and any expansions or acquisitions they've made in the last five years. Get detailed company profiles with overviews, insights, product benchmarking, and SWOT analysis for the biggest players. We'll give you the current and future outlook for the industry, covering recent developments, growth opportunities, drivers, and challenges in both up-and-coming and established regions. Expect an in-depth look at the market from all angles through Porter's five forces analysis, and insights into the market through the Value Chain. Finally, we’ll explore market dynamics and highlight growth opportunities in the years ahead, and we'll even throw in 6 months of post-sales analyst support.

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