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Freight Forwarding Market Report 2006
Key Note Publications Ltd, Dec 2006, Pages: 123
We estimate that, in 2005, the UK international freight-services market was worth around £19.76bn, of which £15.43bn was attributable to freight forwarding. Freight forwarding is defined to include related warehousing, storage and customs-clearance activity. It supports the international freight-services market, which includes international freight transport operations by road, air, sea and rail. Largely because of improvements in transport efficiency, demand for such freight services has increased less than proportionately to growth in gross domestic product (GDP). However, over the 5-year review period (2001 to 2005), growth experienced by the freight-forwarding sector exceeded growth in the freight-transport sector as a whole.
Recent influences supporting the growth of the freight-forwarding sector have included the trend towards outsourcing of non-core business activities by many firms across the commercial spectrum, the growing complexity of regulation affecting international trading relationships, and an increasing awareness of security considerations. All of these factors have made it more beneficial for clients to use the services of a professional forwarder, but other developments, which have reduced the regulatory burden on shippers and transport operators alike, have lessened the benefits of using these specialists. Noteworthy among these has been the progressive deregulation of transport markets within and between the member countries of the EU, with the dismantling of customs barriers between member countries removing the need for many of the specialist services formerly provided by the freight forwarder.
Other influences affecting the sector in the recent past have included the need to comply with many onerous regulations, including those concerning terms and conditions of employment, which have had a disproportionate impact on the many smaller freight forwarders operating in the sector.
Road transport remains the dominant mode for international freight transport, but sea freight showed the highest growth over the review period, with receipts from cross trades showing a particularly large increase. Although the share of air freight is small in terms of tonnage carried, it represents a much higher share in terms of the value of items carried and the service provided. The international rail-freight sector performed well below its potential over the period, largely as a result of disruption to services caused by asylum seekers at the SNCF-operated rail-freight terminal near Calais in 2002 and continuing issues regarding the quality of service to clients.
Independent forecasts of the development of the UK economy indicate that it will continue to experience steady if modest economic growth over the period to 2010, with inflation and unemployment continuing at relatively low levels. This, together with further market globalisation, an increased awareness of security and environmental issues, and the continuing development of IT applications to enhance the value of the freight-forwarding product, suggest a favourable environment for the continued growth of the sector.
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