Categories: Market Research

Global Freight Transport Market Size and Forecast 2024-2033|CEVA Logistics, CJ Logistics Corporation, Nippon Express Holdings, Kerry Logistics Network Limited, Kuehne + Nagel International AG

The Freight Transport by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Freight Transport, 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%. The growth in the historic period can be attributed to globalization and international trade growth, economic growth and industrialization, infrastructure development projects, increased manufacturing activities, 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%. The growth in the forecast period can be attributed to shift towards sustainable transport, focus on last-mile delivery solutions, regulatory support for sustainable transport, increased investment in transport infrastructure, advancements in autonomous vehicles.. Major trends in the forecast period include integration of iot in logistics, blockchain adoption in supply chains, adoption of digital technologies, data-driven decision-making, real-time tracking and visibility, collaboration and partnerships

The growing e-commerce industry is expected to boost the freight transport market going forward. Freight transport is the general movement of goods using inland transportation on a particular network. The need for logistics and freight transport services has increased as a result of the expansion of e-commerce. For instance, according to a US-based intergovernmental organization intended to promote the interests of developing states in world trade, the United Nations Conference on Trade and Development (UNCTAD) 2021 report, online retail sales grew markedly in several countries, with the Republic of Korea reporting the highest share at 25.9% in 2020, up from 20.8% the year before. Therefore, the growing e-commerce industry is driving the freight transport market.

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The freight transport market covered in this report is segmented –

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

Technological innovation is a key trend in gaining popularity in the freight transport market. Major companies operating in the freight transport market are focused on developing innovative solutions to strengthen their position in the market. For instance, in May 2022, ShipBob Inc., a US-based software company, launched an end-to-end managed freight transportation solution powered by Flexport. This program combines ShipBob’s cross-docking, inventory distribution, and fulfillment networks to coordinate freight shipments for e-commerce merchants, aiming to achieve faster shipping times and lower costs when shipping inventory from China to the US. FreightBob is designed to help e-commerce businesses manage their freight, sidestep port congestion and supply chain blockages, reduce time-in-transit, and distribute inventory more efficiently.

The freight transport market report table of contents includes:

1. Executive Summary

2. Freight Transport Market Characteristics

3. Freight Transport Market Trends And Strategies

4. Freight Transport Market – Macro Economic Scenario

5. Global Freight Transport Market Size and Growth

26. South America Freight Transport Market

27. Brazil Freight Transport Market

28. Middle East Freight Transport Market

29. Africa Freight Transport Market

30. Freight Transport Market Competitive Landscape And Company Profiles

Top Major Players: