PUBLISHER: MarketLine | PRODUCT CODE: 1405189
PUBLISHER: MarketLine | PRODUCT CODE: 1405189
Global Transportation Services industry profile provides top-line qualitative and quantitative summary information including: industry group size (value , and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the industry group.
The transportation services industry comprises the air, marine, rail, and road freight sectors.
The air freight industry refers to the revenue earned by airlines from cargo and mail via air transportation, either on dedicated freighter aircraft or as cargo carried in the belly of passenger aircraft. This includes both scheduled and charter services.
The marine freight sector consists of revenues generated from freight transportation by ship container and dry bulk cargo by sea and ocean-going vessels.
The rail freight sector refers to the transportation of goods and materials by rail, and it encompasses the revenues generated from such transportation services. This involves using trains to move cargo, including various products and commodities such as raw materials, finished goods, and industrial equipment.
The road freight sector is valued as revenues generated from freight transportation by road.
For all sectors, domestic and international carriage is included. International freight revenues are assigned to the country of origin to avoid double-counting in regional and global markets.
All market data and forecasts are represented in nominal terms (i.e., without adjustment for inflation), and all currency conversions used in this report have been calculated using constant 2022 annual average exchange rates.
The global transportation services industry group had total revenues of $3,614.5 billion in 2022, representing a compound annual growth rate (CAGR) of 2.5% between 2017 and 2022.
The road segment accounted for the industry group's largest proportion in 2022, with total revenues of $2,363.5 billion, equivalent to 65.4% of the industry group's overall value.
The growth in the transportation services industry group is influenced by several macroeconomic factors, such as rising GDP and growing business confidence. For instance, according to the Organisation for Economic Co-operation and Development (OECD), the business confidence index in China reached 99.4 in February 2023, up from 97.01 in November 2022.