PUBLISHER: The Business Research Company | PRODUCT CODE: 1712615
PUBLISHER: The Business Research Company | PRODUCT CODE: 1712615
Transport refers to the movement of people, goods, or services from one location to another. It is used for facilitating the exchange of products, enabling trade, providing mobility for individuals, and supporting the overall functioning of economies by connecting various regions and markets.
The main types in the transport market are motor vehicle parts, motor vehicles, trains and components, trailers, motor homes, travel trailers, and campers, ship and boat building and repairing, and all other transportation equipment. Motor vehicle parts refer to the parts of vehicles such as bicycles, cycles, and other types. The various applications include general services, dockage, hull parts, engine parts, electric works, auxiliary services. These are used by transport companies, the military, and other end users.
The transport market research report is one of a series of new reports from The Business Research Company that provides transport market statistics, including transport industry global market size, regional shares, competitors with a transport market share, detailed transport market segments, market trends and opportunities, and any further data you may need to thrive in the transport industry. This 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 transport market size has grown strongly in recent years. It will grow from $6941.93 billion in 2024 to $7522.07 billion in 2025 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to economic growth, population growth, technological advancements, consumer behavior.
The transport market size is expected to see strong growth in the next few years. It will grow to $9968.7 billion in 2029 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to environmental concerns, urbanization, global trade and supply chain trends, infrastructure investment, digitalization, demographic changes, e-commerce and last-mile delivery. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
The transport manufacturing market has been aided by the rapid economic growth of developing countries during the historical period. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period.
The growth of the transport market is anticipated to be driven by the increasing international trade. International trade involves the exchange of goods and services across national borders or territories to meet demand or supply. Transport plays a key role in international trade, as most products and services are transported between countries primarily by barges, a type of freight-carrying vessel. For example, the World Trade Organization, a Switzerland-based intergovernmental body, reported in April 2023 that the global merchandise trade volume is projected to grow by 1.7% in 2023 and accelerate to 3.2% in 2024. Thus, the expansion of international trade is a significant factor fueling the growth of the transport market.
Virtual reality and augmented reality technologies are being widely used by transportation manufacturing companies for the faster creation of physical prototypes and to reduce manufacturing defects. While AR is a real-time integration of digital information with the user's environment, VR is a three-dimensional, computer-generated environment that can be explored and interacted with. These technologies benefit the manufacturing process by reducing rework, increasing quality, lowering labour costs, meeting timelines, improving safety, streamlining collaboration, design analysis approach, improving accuracy, aiding in project management, and presentation of product plans. Major transportation manufacturing companies utilizing AR and VR technologies include Toyota, Volkswagen Group, General Motors, and Daimler AG.
Major companies operating in the transportation market are adopting new technologies, such as AI driven logistic solution to sustain their position in the market. AI-driven logistic solutions are applications of artificial intelligence (AI) in the field of logistics and supply chain management. For instance, in March 2023, Alibaba Cloud, a Singapore-based provider of cloud computing services, launched EasyDispatch, an AI-driven logistics solution. It is uniquely designed with an AI-powered real-time service dispatch solution that improves supply chain management while reducing logistics costs. It provides high-accuracy address processing capability and field service dispatch capabilities. The solution provides high performance, stability, and high-speed access from any location.
Major companies operating in the transport market include Toyoto Motor Corp, Volkswagen AG, Daimler AG, EXOR Group, Fiat Chrysler Automobiles NV, Ford Motor Co, SAIC Motor Co Ltd., General Motors Co, Peugeot, United Parcel Service, Union Pacific Corporation, Uber, FedEx Corporation, Deutsche Post AG, Delta Air Lines, American Airlines Group, Southwest Airlines, United Airlines Holdings, Canadian National Railway, CSX Corporation, Norfolk Southern Corporation, Kansas City Southern, BNSF Railway, J.B. Hunt Transport Services inc., Schneider National Inc., XPO Inc., Ryder System Inc., Old Dominion Freight Line Inc., ArcBest Corporation, Expeditors International, C H Robinson Worldwide Freight India Pvt Ltd., Landstar System Inc., Werner Enterprises Inc., Knight-Swift Transportation Holdings Inc., Saia, Atlas Air Worldwide Holdings, Air Transport Services Group, Matson Inc., Crowley Maritime Corporation.
Western Europe was the largest region in the transport market in 2024. Asia-Pacific was the second largest region in the inland water transport market. The regions covered in the transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the 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 transport consists of sales of motor vehicle body, stamped metal & other parts, motor vehicle engine, power train & parts, motor vehicle electrical & electronic equipment, steering suspension, & interiors, motorcycle and bicycle, passenger car, commercial vehicle, locomotives, wagons, & other rolling stock, parts & accessories for railway vehicles, dry vans, refrigerated trailers, tank trailers, flatbed trailers, lowboy trailers, self-contained motor homes assembling, van and minivan conversions, travel trailer, camper, shipbuilding and repairing, boat building and repairing and other transport. The market includes only the sales of manufactured transport equipment not transport services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
Transport Global Market Report 2025 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 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 transport ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The 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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.