PUBLISHER: The Business Research Company | PRODUCT CODE: 1387585
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387585
“General Transport Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on general transport market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for general transport? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The general transport market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
General transport services encompass a service category that involves activities like warehousing and storage services aimed at aiding individuals in their relocation to access services or carry out daily tasks, including the operation of warehousing and storage facilities for various goods and materials.
The primary categories within the general transport services market include sightseeing transport and support activities for transport, couriers and messengers, and postal services. Postal services entail the collection and distribution of mail and letters across a given country. The market is further categorized based on shipment types, including freight, parcel, express, and others, with applications spanning sectors like construction, mining, oil and gas, healthcare, and more.
The general transport services market research report is one of a series of new reports from The Business Research Company that provides general transport services market statistics, including general transport services industry global market size, regional shares, competitors with a general transport services market share, detailed general transport services market segments, market trends and opportunities, and any further data you may need to thrive in the general transport services industry. This general transport services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The general transport market size has grown strongly in recent years. It will grow from $2,386.18 billion in 2023 to $2,597.14 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth observed during the historical period can be attributed to factors such as economic expansion, the globalization of trade, urbanization, developments in manufacturing and supply chains, shifts in consumer behavior, and the rise of e-commerce.
The general transport market size is expected to see strong growth in the next few years. It will grow to $3,604.98 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The anticipated growth in the forecast period can be attributed to factors such as a focus on environmental sustainability, increased investment in infrastructure, the adoption of digitalization and automation, efforts to mitigate climate change, and advancements in public transit and multi-modal transportation. Key trends in the forecast period include the promotion of digitalization and smart mobility, the integration of electric and autonomous vehicles, the development of urban mobility solutions, the expansion of e-mobility, and the promotion of micromobility.
Courier service providers are increasingly offering on-demand delivery services to enhance the speed and efficiency of parcel delivery. On-demand delivery options give customers the flexibility to receive packages at a time and location that suits them best. This service can also be seamlessly integrated with point-of-sale systems and e-commerce platforms, enabling courier companies to optimize their operations, resulting in a more cost-effective, expedited, and dependable method of parcel delivery. For example, UberRUSH is an on-demand courier delivery service available in metropolitan areas such as New York, Chicago, and San Francisco. On-demand delivery services have gained popularity in various sectors, including the delivery of prescription medicine, laundry services, fast food, and even marijuana. Major on-demand delivery service providers include Postmates, Deliv, Sidecar, and Amazon Flex in the USA; PiggyBaggy in Finland; and Nimber in Norway.
The anticipated increase in economic growth is expected to drive the expansion of the general transport services market. Economic growth signifies the sustained rise in a nation's production of goods and services, typically quantified by an increase in its gross domestic product (GDP) over time. General transport services play a vital role in facilitating the efficient movement of goods and people, thereby reducing logistical constraints and fostering economic growth through improved access to markets and opportunities. For example, in June 2023, the Organization for Economic Co-operation and Development (OECD), an international economic organization based in France, projected that the UK's gross domestic product (GDP) growth is expected to be modest at 0.3% in 2023, with a moderate improvement to 1.0% in 2024. Hence, the upsurge in economic growth is a key driver for the growth of the general transport services market.
Prominent companies within the general transport services market are actively developing integrated solutions to maintain a competitive edge by delivering seamless, end-to-end transportation and logistics services to their clientele. These integrated solutions represent high-performance platforms that encompass transportation planning, settlement, and execution, supported by advanced analytics to enhance logistics efficiency and financial effectiveness. For example, in September 2023, 3SC Solutions, an India-based provider of supply chain solutions, introduced its Intelligent Transport Management Solution (iTMS). iTMS is an integrated transportation management solution that harnesses the power of artificial intelligence and data analytics to consolidate information across the entire logistics transportation lifecycle. This initiative by 3SC Solutions is poised to transform the landscape of supply chain management.
Major companies operating in the general transport market include Amazon.com Inc., United States Postal Service, United Parcel Service Inc., Deutsche Post AG, FedEx Corporation, Japan Post Holdings Company Ltd., Le Groupe La Poste, Royal Mail Group Limited, SF Express Co. Ltd., Canada Post Corporation, DHL International GmbH, Kuehne Nagel International AG, DB Schenker, Agility Logistics, Expeditors International of Washington Inc., BDP International Inc., CEVA Logistics, Damco International BV, DSV A/S, Geodis, Hellmann Worldwide Logistics SE & Co. KG, J.B. Hunt Transport Services Inc., Knight-Swift Transportation Holdings Inc., Landstar System Inc., Old Dominion Freight Line Inc., Ryder System Inc., Schneider National Inc., Swift Transportation, TFI International Inc., Werner Enterprises Inc., XPO Inc., Matson Inc., Crowley Maritime Corporation, Hapag-Lloyd AG, Mediterranean Shipping Company SA, Nippon Yusen Kabushiki Kaisha.
Western Europe was the largest region in the general transport services market in 2023. Asia-Pacific was the second largest region in the general transport services market. The regions covered in the general transport services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the general transport market report are: Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The general transport services market includes revenues earned by entities by transporting goods and people from one location to another for an amount or fee to improve the economy of the particular country. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.