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

A freight broker is an individual or a company, that acts as a middle man between a Shipper and a Motor Carrier. They are contracted by the Shipper. Their task is to facilitate the movement of goods from origin to destination through a complex network. Their money is earned from the negotiations between the shipper’s billing rate and Carrier Invoice Rate. In the US, Federal Motor Carrier Safety Administration (FMCSA) is the main governing body. They provide a license to any Freight Broker. There are 17000 Freight workers in the US. There are several reasons why Freight Brokers are requiredLeverage Broker’s advanced technology and connectivity, Save the Freight Cost of Shippers, Improves Scalability, Understand Market Trends, Saves Time for transporting, Ensure the Legality.

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

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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