PUBLISHER: The Business Research Company | PRODUCT CODE: 1578734
PUBLISHER: The Business Research Company | PRODUCT CODE: 1578734
Intermodal freight transportation involves moving goods using two or more different modes of transportation within a single journey, without the need to handle the cargo when switching between modes. This approach uses standardized containers to facilitate seamless transfers between various modes, improving efficiency, lowering costs, and reducing handling risks.
The primary types of intermodal freight transportation include railway transport, road transport, air transport, and sea transport. Railway transport involves the movement of goods and passengers using trains on tracks or railroads. The various components involved are software and services, with multiple transportation modes including rail, road, water, air, and others. The key verticals utilizing intermodal freight transportation encompass consumer and retail, oil and gas, industrial and manufacturing, energy and mining, food and beverages, aerospace and defense, construction, chemicals, pharmaceuticals and healthcare, among others.
The intermodal freight transportation market research report is one of a series of new reports from The Business Research Company that provides intermodal freight transportation market statistics, including intermodal freight transportation industry global market size, regional shares, competitors with an intermodal freight transportation market share, detailed intermodal freight transportation market segments, market trends, and opportunities, and any further data you may need to thrive in the intermodal freight transportation industry. This intermodal freight transportation research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The intermodal freight transportation market size has grown rapidly in recent years. It will grow from $51.18 billion in 2023 to $58.85 billion in 2024 at a compound annual growth rate (CAGR) of 15.0%. The growth in the historic period can be attributed to rising demand for quick delivery, expansion of free trade agreements, development of rail infrastructure, increase in industrial production, growth in logistics, and expansion of supply chain management services.
The intermodal freight transportation market size is expected to see rapid growth in the next few years. It will grow to $103.78 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to the rise in global trade, increasing demand from e-commerce, accelerating urbanization, rising fuel costs, and a growing need for refrigerated transport. Major trends in the forecast period include technological advancements, integration of artificial intelligence (AI), real-time tracking, green logistics solutions, and the use of blockchain technology.
The growth of industrialization is anticipated to drive the expansion of the intermodal freight transportation market. Industrialization refers to the transformation of an economy from one primarily based on agriculture to one centered around manufacturing goods and services. The rise in industrialization is attributed to globalization, improvements in supply chain efficiency, diversification of market demands, and trade agreements. Intermodal freight transportation is vital to industrialization as it enhances the efficiency and effectiveness of logistics and supply chain systems. It supports global trade, infrastructure development, and economic growth, thus becoming a cornerstone of modern industrial economies. For example, in February 2023, Statistics Canada, a Canadian government agency, reported that the manufacturing sector in Canada experienced significant growth, with total sales rising by 17.9% to $850.9 billion in 2022. Consequently, the increasing pace of industrialization is fueling the growth of the intermodal freight transportation market.
Major players in the intermodal freight transportation market are focusing on advancing technologies, such as AI-based transport management solutions, to improve efficiency, optimize routes, and enhance overall supply chain performance. AI-based transport management solutions involve sophisticated systems that leverage artificial intelligence (AI) to optimize various facets of transportation management. For instance, in September 2023, 3SC Solutions, a Netherlands-based supply chain solutions provider, introduced iTMS (Intelligent Transport Management Solution). This system integrates cutting-edge AI and machine learning technologies to provide real-time route optimization, boosting efficiency and reducing operational costs. iTMS also features predictive analytics to foresee potential disruptions and adjust logistics strategies proactively. Its dynamic dashboard offers comprehensive visibility into all transportation activities, facilitating seamless coordination across multiple transport modes.
In January 2023, RoadOne Intermodal Logistics, a US-based logistics services provider, acquired Transporter Inc. for an undisclosed amount. This acquisition aims to expand RoadOne's intermodal logistics capabilities, enhance its service offerings, and strengthen its market position by integrating Transporter Inc.'s expertise and assets into its operations. Transporter Inc., based in the US, specializes in intermodal freight transportation services.
Major companies operating in the intermodal freight transportation market are Deutsche Post DHL Group, FedEx Corporation, A.P. Moller-Maersk A/S, CMA CGM Group, Deutsche Bahn AG, Kuehne + Nagel International AG, Hapag-Lloyd AG, DSV A/S, SAP SE, DB Schenker, C.H. Robinson Worldwide Inc., DP World, J.B. Hunt Transport Services Inc., Canadian Pacific Railway Limited, Schneider National Inc., Hub Group Inc., APM Terminals, XPO Logistics Inc., Swift Transportation Company, STG Logistics Inc., WiseTech Global Limited, Yusen Logistics Co. Ltd., Air Ground Xpress, CLX Logistics LLC, LOGISTEED Ltd.
North America was the largest region in the intermodal freight transportation market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intermodal freight transportation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the intermodal freight transportation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The intermodal freight transportation market includes revenues earned by entities by providing services such as freight forwarding, container management, customs brokerage, cargo handling and intermodal terminal services and related cargo handling equipment, tracking devices, temperature-controlled units and safety and security systems. 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.
Intermodal Freight Transportation 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 intermodal freight transportation 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.