Mexico Freight Forwarding Market Size, Share, and COVID-19 Impact Analysis, By Delivery Mode (Roadways, Airways, and Seaways), By Service Type (Packaging, Documentation, Transportation and Warehousing, and Value Added Service (VAS)), and Mexico Freight Forwarding Market Insights, Industry Trend, Forecasts to 2033

Mexico Freight Forwarding Market Insights Forecasts to 2033

• The Mexico Freight Forwarding Market Size was Valued at USD 5,629.6 Million in 2023.
• The Market is Growing at a CAGR of 3.58% from 2023 to 2033
• The Mexico Freight Forwarding Market Size is Expected to Reach USD 7,998.9 Million by 2033

The Mexico Freight Forwarding Market Size is Anticipated to Reach USD 7,998.9 Million by 2033, Growing at a CAGR of 3.58% from 2023 to 2033.

Market Overview

Mexico freight forwarding market refers to the sector involved in the planning, coordination, and transportation of goods from one location to another, both domestically and internationally, on behalf of shippers. Freight forwarders in Mexico manage the entire logistics process, including the arrangement of shipments by land, sea, or air, customs clearance, warehousing, and documentation. This market is integral to global trade, particularly due to Mexico's strategic location between the U.S. and Latin America, as well as its membership in trade agreements like the United States-Mexico-Canada Agreement (USMCA), which promotes cross-border commerce. Mexico’s freight forwarding industry is characterized by a mix of large multinational logistics providers and smaller, local companies that cater to various industries such as automotive, electronics, agriculture, and consumer goods. As of recent trends, technological advancements in supply chain management, like digital platforms and real-time tracking systems, are reshaping the way logistics services are provided, enhancing efficiency and transparency. Furthermore, Mexico’s robust transportation networks, including well-developed highways, ports, and airports, continue to play a vital role in sustaining the country’s competitive position as a logistics hub in North America and beyond.

Report Coverage

This research report categorizes the market for the Mexico freight forwarding market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Mexico freight forwarding market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Mexico freight forwarding market.

Driving Factors

The rise of e-commerce is a significant factor, as businesses look for more efficient and cost-effective ways to manage their supply chains to meet growing consumer demands for fast and reliable deliveries. The expansion of Mexico’s transportation infrastructure, including modern ports, highways, and airports, has also enhanced the capacity and efficiency of freight forwarding operations, making the country even more attractive as a logistics hub.

Restraining Factors

The lack of skilled labor in logistics and transportation sectors poses a challenge, as companies may struggle to find qualified professionals to manage increasingly sophisticated supply chains.

Market Segmentation

The Mexico freight forwarding market share is classified into delivery mode and service type.

• The roadways segment accounted for the largest market share in 2023 and is expected to grow at a substantial CAGR during the forecast period.

The Mexico freight forwarding market is segmented by delivery mode into roadways, airways, and seaways. Among these, the roadways segment accounted for the largest market share in 2023 and is expected to grow at a substantial CAGR during the forecast period. The segment can be attributed to Mexico’s extensive and well-established road infrastructure, which plays a crucial role in the country’s domestic and cross-border transportation. The proximity to the U.S. border, along with a large number of industrial hubs located in regions such as Monterrey, Guadalajara, and Mexico City, makes road transport the preferred mode for freight movement within Mexico and to neighbouring countries.

• The transportation and warehousing segment accounted for the major market share in 2023 and is expected to grow at a remarkable CAGR during the forecast period.

The Mexico freight forwarding market is segmented by service type into packaging, documentation, transportation and warehousing, and value-added service (VAS). Among these, the transportation and warehousing segment accounted for the major market share in 2023 and is expected to grow at a remarkable CAGR during the forecast period. The segment growth is driven by the increasing demand for efficient and reliable logistics solutions, particularly as Mexico continues to be a key player in global trade and manufacturing.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Mexico freight forwarding market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• CEVA Logistics AG
• FedEx
• United Parcel Service of America, Inc.
• DSV A/S
• Dimerco
• Deutsche Post DHL
• Expeditors International of Washington, Inc.
• Nippon Express Co., Ltd.
• MGF
• Uber Freight LLC
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at Mexico, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Mexico freight forwarding market based on the below-mentioned segments:

Mexico Freight Forwarding Market, By Delivery Mode

• Roadways
• Airways
• Seaways

Mexico Freight Forwarding Market, By Service Type

• Packaging

• Documentation
• Transportation and Warehousing
• Value Added Service (VAS)