The Business Research Company’s report on the Transport Services Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the transport services market further?
The transportation services market’s growth is aided by the stable economic growth forecasted in many developed and developing countries. For instance, in October 2024, according to the House of Common Library, a UK-based government agency, the UK’s GDP was 2.9% higher in Q2 2024 than its pre-pandemic level in Q4 2019, while the Eurozone’s GDP rose by 3.9%, with Germany’s GDP up by 0.2%. The US recorded the highest GDP growth among G7 economies during this period, at 10.7%. 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.
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What are the key factors influencing the forecasted market size of the transport services industry?
The transport services market size has grown strongly in recent years. It will grow from $8985.02 billion in 2024 to $9766.08 billion in 2025 at a compound annual growth rate (CAGR) of 8.7%. 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 $13028.63 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. 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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Who are the leading competitors in the transport services market?
Major companies operating in the transport services market include 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.
Which emerging trends are set to transform the transport services market landscape?
Companies are actively pursuing electricity to power buses to reduce carbon emissions and cut costs. Solar buses run on electric batteries, which, in some cases, are also charged by solar panels installed on the roof of the bus. This improves the fuel efficiency of the vehicle and increases the life of lithium batteries. Further, the technology has low-maintenance components, allowing the companies to save costs. Major companies involved in manufacturing electric buses include Kiira Motors, BYD Company, Heilongjiang Qiqiar New Energy Automobile Co., Ltd., Bauer’s Intelligent Transportation, Yutong, and Volvo buses.
How do different geographies compare in terms of market share and growth potential in the transport services market?
Asia-Pacific was the largest region in the transport services market in 2024. 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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Which major segments of the transport services market are experiencing the fastest growth?
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:
1) By Air Transport: Passenger Air Services, Cargo Air Services, Charter Air Services
2) By General Transport: Freight Forwarding, Logistics Services, Courier Services
3) By Pipeline Transport: Oil And Gas Pipeline Transport, Water Pipeline Transport, Chemical Pipeline Transport
4) By Rail Transport: Freight Rail Services, Passenger Rail Services, High-Speed Rail Services
5) By Transit And Ground Passenger Transport: Bus Services, Ride-Sharing Services, Taxi Services
6) By Truck Transport: Long-Distance Trucking, Local Delivery Services, Specialized Freight Trucking
7) By Warehousing And Storage: Public Warehousing, Private Warehousing, Cold Storage Facilities
8) By Water Transport: Cargo Shipping, Ferry Services, Cruise Services
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What defines the structure and scope of the transport services market?
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.
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