Freight Transport Market Size, Industry Analysis Report By Offering (Solutions, Services), By Transport (Railways, Roadways, Seaways, Airways), By Outlook (Retail And E-Commerce, Automotive, Aerospace And Defence, Pharmaceuticals, Energy) & Region – Forecast
- PUBLISHED ON
- 2024-10-03
- NO OF PAGES
- 257
- CATEGORY
- Automotive & Transportation
The Freight Transport Market is valued at around USD 30.91 billion in 2022 and is expected to reach USD 72.97 billion by 2030, registering a CAGR of 11.3% over the forecast period. Road freight transport is the movement of freight over a road network. The most frequently used form of freight transportation is by road. There are many different types of vehicles used in road freight transport, including flatbed trucks, refrigerated trucks, pick-up trucks, truck trailers, and lorries with tanks. Road freight transportation is an efficient, time- and money-saving method of moving freight from door to door.
The Freight Transport Market - Growth Factor
Additionally, intermodal transportation is a new development in the industry that combines multiple modes of transportation. Because of globalisation, businesses are conducting more international business, necessitating the need for safer, more adaptable, and high-capacity transportation options. For the economy of any nation, increased operational efficiency in freight movement is essential. With rising populations and globalisation, there is a rising demand for goods and services. For their operations, many shipping companies choose freight transport management solutions to address various environmental issues and security concerns. Technological development has resulted in the creation of new efficiencies and creative ways to conceptualise processes. The development of information networks with quick connections, quick transaction times, and more dependable shipments is anticipated to fuel market growth for freight transportation in the emerging sectors.
The Freight Transport Market – Market Trends
• The market for freight road transport is expected to be driven by the rapid advancement of technology and the growing importance of e-commerce during the forecast period.
• Road freight transportation has many advantages, including being ideal for short distances and having affordable, adaptable packaging.
• The market for road freight transport is expected to grow as a result during the forecast period. However, poor road conditions, inclement weather, heavy traffic, and long-distance travel present significant challenges for road freight transport.
• During the anticipated period, these factors are likely to restrain the market for road freight transport.
The Freight Transport Market – Segmentation
The Freight Transport Market fragrance concentrates market has been sub-classified into offering, mode of transport, vertical outlook, and others.
On the basis of offering, the Freight Transport Market is bifurcated into:
• Solutions
• Services
• Others
On the basis of mode of transport, the market is segmented into:
• Railways
• Roadways
• Seaways
• Airways
• Others
On the basis of vertical outlook, the market segmented into:
• Retail and e-commerce
• Automotive
• Aerospace and defence
• Pharmaceuticals
• Energy
• Others
The Freight Transport Market –Regional Analysis
North America dominated the global Freight Transport Market, is anticipated to maintain its dominance over the forecast period due to the presence of numerous significant logistics players, e-commerce behemoths, and freight solution providers in the U.S. and Canada. The continued development and uptake of new technologies like artificial intelligence, near-field communication, and machine learning also contribute to the expansion of the market.
The Freight Transport Market – Key Market players
Global key players of Freight Transport Market include CEVA Logistics; FedEx; DB Schenker Logistics; United Parcel Service of America, Inc.; Deutsche Post AG; Schneider National, Inc.; Oracle; SAP SE; C.H. Robinson Worldwide Inc.; Kuehne + Nagel International AG; DSV PANALPINA A/S; Kerry Logistics Network Limited; Nippon Express Holdings; CJ Logistics Corporation, and others.
Report scope
Global Freight Transport Market: Historical Years- 2018-2021
Global Freight Transport Market: Forecast Years- 2022-2030
Global Freight Transport Market 2022- USD 30.91 billion
Global Freight Transport Market 2030- USD 72.97 billion
Global Freight Transport Market CAGR- 11.3%
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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