Freight Transport Global Market Report 2024

Description

“Freight 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 freight 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.

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Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
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Where is the largest and fastest growing market for freight transport? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The freight 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.

Scope

Markets Covered:

1) By Offering: Solution; Services
2) By Mode Of Transport: Railways; Roadways; Seaways; Airways
3) By Vertical: Retail And E-commerce; Automotive; Aerospace; Pharmaceuticals; Energy; Other Verticals
Companies Mentioned: CEVA Logistics; CJ Logistics Corporation; Nippon Express Holdings; Kerry Logistics Network Limited; Kuehne + Nagel International AG
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Freight transportation involves the transfer of diverse commodities from one point to another using a range of transportation modes. This movement spans various methods from the source to the destination.

The primary offerings in freight transportation encompass both solutions and services. Freight transport solutions facilitate the transfer of merchandise, goods, and freight through land, sea, or air channels. Diverse modes such as railways, road transport, maritime shipping, and air transport are employed across sectors including retail, e-commerce, automotive, aerospace, pharmaceuticals, energy, and other industries.'

The freight transport market research report is one of a series of new reports from The Business Research Company that provides freight transport market statistics, including freight transport industry global market size, regional shares, competitors with a freight transport market share, detailed freight transport market segments, market trends and opportunities, and any further data you may need to thrive in the freight transport industry. This freight transport 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 freight transport market size has grown rapidly in recent years. It will grow from $31.53 billion in 2023 to $35.42 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. During the historical period, the upsurge in growth can be accredited to factors such as the expansion of globalization and international trade, economic progression and industrial development, initiatives in infrastructure development, heightened manufacturing operations, and adherence to environmental regulations.

The freight transport market size is expected to see rapid growth in the next few years. It will grow to $55.26 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. Anticipated growth in the forecasted phase stems from the transition to sustainable transportation, emphasis on last-mile delivery solutions, regulatory backing for sustainable transport initiatives, amplified investments in transportation infrastructure, and advancements in autonomous vehicle technology. Noteworthy trends expected in this period encompass the integration of IoT in logistics, adoption of blockchain in supply chains, incorporation of digital technologies, decision-making driven by data insights, real-time tracking and visibility solutions, as well as increased collaboration and partnerships within the industry.

The burgeoning e-commerce sector is anticipated to drive growth in the freight transport market in the future. Freight transport, encompassing the movement of goods through inland transportation networks, has witnessed an increased demand for logistics and freight services due to the expansion of e-commerce. According to the 2021 report from the United Nations Conference on Trade and Development (UNCTAD), online retail sales experienced significant growth in various countries. Notably, the Republic of Korea reported the highest share at 25.9% in 2020, up from 20.8% the previous year. Hence, the thriving e-commerce industry is a key catalyst for the freight transport market.

The anticipated rise in manufacturing activities is poised to propel the freight transport market's expansion. Manufacturing involves the conversion of raw materials into finished goods, and efficient freight transport is integral to this process. By facilitating the timely movement of raw materials and finished products, freight transport ensures supply chain continuity and supports overall production. In July 2023, Eurostat reported a 0.2% increase in industrial output in the European area, with a 0.1% increase in the European Union between May and April 2023. Consequently, increased manufacturing activities are a driving force behind the growth of the freight transport market.

Technological innovation is emerging as a prominent trend in the freight transport market. Major industry players are actively developing innovative solutions to enhance their market positions. For example, in May 2022, ShipBob Inc., a US-based software company, introduced an end-to-end managed freight transportation solution powered by Flexport. This initiative combines ShipBob's cross-docking, inventory distribution, and fulfillment networks to coordinate freight shipments for e-commerce merchants. The goal is to achieve faster shipping times and lower costs for shipping inventory from China to the US. FreightBob, designed to assist e-commerce businesses in managing their freight efficiently, addresses challenges such as port congestion and supply chain blockages while optimizing inventory distribution.

Leading companies in the freight transport sector are intensifying their focus on the implementation of autonomous transport solutions as a strategic move to enhance their competitiveness. Autonomous transport solutions involve technologies or systems enabling vehicles to operate and navigate without human intervention. An illustrative example is Volvo Autonomous Solutions (VAS), a Sweden-based company, which, in May 2022, unveiled a new hub-to-hub autonomous transport solution targeting key customer segments such as shippers, carriers, logistics service providers, and freight brokers. This innovative solution addresses the rising demand for goods in North America, enhancing overall transportation reliability by leveraging Volvo Trucks' established service network and world-class uptime services. VAS serves as the primary contact for all Autonomous Transport Solution customers, ensuring reliable support for a seamless transition.

In June 2022, Fastfrate, a prominent Canada-based transportation services company, completed the acquisition of Challenger Motor Freight for an undisclosed amount. This strategic move positioned Fastfrate as the largest company of its kind in the country. The amalgamation of their businesses encompasses 1.2 million square feet of premises and over 5,500 pieces of equipment. This acquisition reinforces their ability to provide a comprehensive range of asset-based transportation services. Challenger Motor Freight, a Canada-based entity specializing in transportation, warehousing, and distribution services, extends their reach and offerings across the nation.

Major companies operating in the freight transport market report are CEVA Logistics, CJ Logistics Corporation, Nippon Express Holdings, Kerry Logistics Network Limited, Kuehne + Nagel International AG, DSV Panalpina A/S, Deutsche Post DHL, FedEx Corporation., United Parcel Service of America Inc, Deutsche Post AG, Schneider National Inc., Oracle Transportation Management, SAP SE, C.H. Robinson Worldwide Inc, GATI-KWE, DB Schenker Logistics, XPO Logistics, Expeditors International of Washington Inc., Agility Logistics, Panalpina World Transport (Holding) Ltd., Geodis, Hellmann Worldwide Logistics, Bollore Logistics, Yusen Logistics Co. Ltd., Sinotrans Limited, Toll Group, ArcBest Corporation, J.B. Hunt Transport Services Inc., Old Dominion Freight Line Inc., Saia LTL Freight, Werner Enterprises Inc., Knight-Swift Transportation Holdings Inc., Landstar System Inc., Swift Transportation Company .

North America was the largest region in the freight transport market in 2023. Asia-Pacific is expected to be the fastest-growing region in the freight transport market during the forecast period. The regions covered in the freight transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the freight transport market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The freight transport market includes revenues earned by entities such as expedited freight, and fully truck load freight. 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.

Product Code: r10968

1. Executive Summary

2. Freight Transport Market Characteristics

3. Freight Transport Market Trends And Strategies

4. Freight Transport Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Freight Transport Market Size and Growth

5.1. Global Freight Transport Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Freight Transport Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Freight Transport Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Freight Transport Market Segmentation

6.1. Global Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Solution
Services
6.2. Global Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Railways
Roadways
Seaways
Airways
6.3. Global Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Retail And E-commerce
Automotive
Aerospace
Pharmaceuticals
Energy
Other Verticals

7. Freight Transport Market Regional And Country Analysis

7.1. Global Freight Transport Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Freight Transport Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Freight Transport Market

8.1. Asia-Pacific Freight Transport Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Freight Transport Market

9.1. China Freight Transport Market Overview
9.2. China Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Freight Transport Market

10.1. India Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Freight Transport Market

11.1. Japan Freight Transport Market Overview
11.2. Japan Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Freight Transport Market

12.1. Australia Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Freight Transport Market

13.1. Indonesia Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Freight Transport Market

14.1. South Korea Freight Transport Market Overview
14.2. South Korea Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Freight Transport Market

15.1. Western Europe Freight Transport Market Overview
15.2. Western Europe Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Freight Transport Market

16.1. UK Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Freight Transport Market

17.1. Germany Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Freight Transport Market

18.1. France Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Freight Transport Market

19.1. Italy Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Freight Transport Market

20.1. Spain Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Freight Transport Market

21.1. Eastern Europe Freight Transport Market Overview
21.2. Eastern Europe Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Freight Transport Market

22.1. Russia Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Freight Transport Market

23.1. North America Freight Transport Market Overview
23.2. North America Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Freight Transport Market

24.1. USA Freight Transport Market Overview
24.2. USA Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Freight Transport Market

25.1. Canada Freight Transport Market Overview
25.2. Canada Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Freight Transport Market

26.1. South America Freight Transport Market Overview
26.2. South America Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Freight Transport Market

27.1. Brazil Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Freight Transport Market

28.1. Middle East Freight Transport Market Overview
28.2. Middle East Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Freight Transport Market

29.1. Africa Freight Transport Market Overview
29.2. Africa Freight Transport Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Freight Transport Market, Segmentation By Mode Of Transport, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Freight Transport Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Freight Transport Market Competitive Landscape And Company Profiles

30.1. Freight Transport Market Competitive Landscape
30.2. Freight Transport Market Company Profiles
- 30.2.1. CEVA Logistics
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. CJ Logistics Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Nippon Express Holdings
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Kerry Logistics Network Limited
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Kuehne + Nagel International AG
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Freight Transport Market Competitive Benchmarking

32. Global Freight Transport Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Freight Transport Market

34. Freight Transport Market Future Outlook and Potential Analysis

34.1 Freight Transport Market In 2028 - Countries Offering Most New Opportunities
34.2 Freight Transport Market In 2028 - Segments Offering Most New Opportunities
34.3 Freight Transport Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer