Overview and Scope
Transport services refer to a type of service that includes activities such as warehousing and storage services that are designed to assist people in moving from one location to another to obtain services or perform daily tasks that include the operation of warehousing and storage facilities for merchandise, refrigerated goods, and other materials.
Sizing and Forecast
The transport services market size has grown strongly in recent years. It will grow from $8164.3 billion in 2023 to $8839.85 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to population growth, growth of urbanization, demographic changes, government policies in transportation, health and safety concerns.
The transport services market size is expected to see strong growth in the next few years. It will grow to $11980.66 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to sustainability initiatives, smart cities integration, shared mobility services, high-speed rail development, advanced ticketing and payment systems. Major trends in the forecast period include mobility as a service, autonomous vehicles for cargo transport, sustainable and green transport, connectivity in public transportation, digital platforms for freight matching, .
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Segmentation & Regional Insights
The transport services market covered in this report is segmented –
1) By Type: Air Transport, General Transport, Pipeline Transport, Rail Transport, Transit And Ground Passenger Transport, Truck Transport, Warehousing And Storage, Water Transport
2) By Purpose: Commuter Travel, Tourism And Leisure Travel, Business Travel, Cargo And Freight Travel, Shipping And Delivery Travel
3) By Destination: Domestic, International
4) By End-Use Industry: Mining, Construction, Agriculture, Other End Use Industries
Subsegments Covered: Passenger Air Transport, Chartered Air Transport, Air Cargo Services, Sightseeing Transport & Support Activities For Transport, Couriers And Messengers, Postal Services, Crude Oil Pipeline Transport, Natural Gas Pipeline Transport, Refined Petroleum Products Pipeline Transport, Other Pipeline Transport, Passenger Rail Transport, Rail Freight, Commuter Rail And Public Bus Services, Taxi And Limousine Services, School And Employee Bus Services, Charter Bus Services, Other Transit And Ground Passenger Transport, General Freight Trucking, Specialized Freight Trucking, General Warehousing And Storage, Refrigerated Warehousing And Storage, Specialized Warehousing And Storage, Farm Product Warehousing and Storage, Deep Sea, Coastal, And Great Lakes, Inland Water Transport
Asia-Pacific was the largest region in the transport services market in 2023. Western Europe was the second largest region in the transport services market. The regions covered in the transport services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The transportation services market’s growth is aided by the stable economic growth forecasted in many developed and developing countries. 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 end-user markets, thereby driving the market during the forecast period.
Key Industry Players
Major companies operating in the transport services market report are Amazon.com Inc., China Railway Corporation, Cargill Incorporated, United Parcel Service Inc., DHL Group, Deutsche Post AG, FedEx Corporation, A.P. Moller-Maersk A/S, Maersk, United States Postal Service, CMA CGM Group, COSCO Shipping Group, Kuehne + Nagel International, SF Express Co. Ltd., Hapag-Lloyd AG, DSV A/S, Indian Railways, JSC Russian Railways, Nippon Express Co. Ltd., Expeditors International, Kerry Logistics, DB Schenker, Bollore Logistics, XPO Inc., Hellmann Worldwide Logistics, Kintetsu World Express, NFI Industries Inc., Agility, HNA Technology Co. Ltd.
The transport services market report table of contents includes:
1. Executive Summary
2. Transport Services Market Characteristics
3. Transport Services Product/Service Analysis -Product/Service Examples
4. Transport Services Market Trends And Strategies
5. Transport Services Market – Macro Economic Scenario
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68. Global Transport Services Market Competitive Benchmarking
69. Global Transport Services Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Transport Services Market
71. Transport Services Market Future Outlook and Potential Analysis
72. Appendix
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