Market Size of United States Freight Brokerage Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 17.96 Billion |
| Market Size (2029) | USD 26.82 Billion |
| CAGR (2024 - 2029) | 8.35 % |
| Market Concentration | Low |
Major Players_-_Copy.webp)
*Disclaimer: Major Players sorted in no particular order |
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United States Freight Brokerage Market Analysis
The United States Freight Brokerage Market size is estimated at USD 17.96 billion in 2024, and is expected to reach USD 26.82 billion by 2029, growing at a CAGR of 8.35% during the forecast period (2024-2029).
- As per industry sources, the penetration of the US freight brokerage sector in the total freight market is increasing. The number of entries processed by US market players has grown steadily over the years. The US-Mexico-Canada Agreement (USMCA) is further expected to streamline cross-border shipments and create uniformity for supply chains in North America.
- The ongoing shortage of truck drivers in the US market has an adverse effect on businesses like brokerages, which heavily depend on carriers. This scenario forces freight brokers to quote higher prices to shippers, leading to an increase in price and competition in the market.
- The US less-than-truckload (LTL) segment is facing intense competitive rivalry. LTL freight brokers are involved in innovations in North American LTL to drive the next leg of profit improvement.
