The freight market has taken a beating over the past few years. By the end of 2024, we saw 3,104 fewer freight brokerages than the year before. Add that to the 2,395 closures in 2023, and it’s a total of 5,409 fewer brokerages in the game since January 2022.

This hits especially hard when you consider the 25,291 new brokerage MCs that popped up between January 2020 and December 2022. It’s clear the freight recession hasn’t been kind to the industry.

Fast forward to December 2024, and the total number of freight brokerages is sitting at 25,334. Year-over-year declines seem to be leveling off between −10% and −11%, but two-year declines are still hanging around −17%.

Now, let’s talk about growth. The five-year CAGR for freight brokerages is at 3.6%. Not bad, but definitely a step down from the faster annual growth rates we saw in the previous decade.

Here’s hoping 2025 brings some much-needed relief and a turnaround for the freight markets. Fingers crossed!

As always thanks to Kathy Sardelli and Mark Draeb at Carrier Details LLC for sending over this data.

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