How Has the Freight Transport Market Size Evolved and What Are the Future Projections?
The freight transport market size has seen significant growth in recent years, escalating from $34.82 billion in 2024 to an impressive $38.96 billion in 2025— a compound annual growth rate (CAGR) of 11.9%. The historic period witnessed notable growth due to globalization and international trade growth, economic expansion and industrialization, infrastructure development projects, and increased manufacturing activities, further bolstered by environmental regulations.
Moving forward, the freight transport market size is expected to maintain this momentum. It is projected to reach $61.62 billion in 2029 at a CAGR of 12.1%. This exponential increase can be attributed to shifts towards sustainable transport, emphasis on last-mile delivery solutions, enhanced regulatory support for sustainable transport, increased investments in transport infrastructure, and advancements in autonomous vehicles in the forecast period. Major trends include the integration of IoT in logistics, blockchain adoption in supply chains, adoption of digital technologies, data-driven decision-making, and real-time tracking and visibility strategies, improved by collaboration and partnerships.
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What Are the Key Growth Drivers in the Freight Transport Market?
The surging e-commerce industry serves as a significant growth driver for the freight transport market. Freight transport, which involves the general movement of goods using inland transportation on a network, has seen increased demand due to the growth of e-commerce. For instance, in the second quarter of 2024, U.S. retail e-commerce sales reached $291.6 billion. This marked a 1.3% increase from the prior quarter and a 6.7% rise from the same quarter in the preceding year, making e-commerce account for 16.0% of total sales.
Key segments contributing to the freight transport market include:
1) Offerings: Solution, Services
2) Mode Of Transport: Railways, Roadways, Seaways, Airways
3) Vertical: Retail And E-commerce, Automotive, Aerospace, Pharmaceuticals, Energy, Other Verticals
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Who Are the Major Players in the Freight Transport Market?
Major companies operating in the freight transport market encompass 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, Schneider National Inc., and more.
What Emerging Trends Are Noted in the Freight Transport Market?
Technological innovation is a key trend gaining traction in the freight transport market. Leading players are developing innovative solutions to consolidate their market positions. For example, ShipBob Inc., a U.S.-based software company, launched a groundbreaking, managed freight transportation solution, FreightBob, powered by Flexport in May 2022. This tool helps e-commerce businesses manage their freight effectively.
Which Region Leads the Freight Transport Market and What is the Growth Outlook?
North America was the largest region in the freight transport market in 2024. However, Asia-Pacific is projected to be the fastest-growing region in the market. The coverage includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Is the Freight Transport Market and What Does the Report of 2025 Offer?
Freight transportation involves the process of transferring various items from one location to another using numerous modes of transportation. The global freight transport market research report from The Business Research Company provides insight into global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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