Global Freight Transport Market size was valued at US$ 30,910.21 million in 2022, and anticipated to grow at a CAGR of 12.4 % over the forecast period.
The market’s expansion is attributed to the affordable shipping costs set by suppliers of goods transport services and the many free trade agreements between nations. For instance, the European Union and Canada established a comprehensive economic trade agreement. 98% of the tariffs on European goods traded between Europe and Canada are being eliminated by the Canadian government as a result of this agreement. By reducing commodity prices, that automatically boosts demand for freight transportation, such agreements contribute to the freight transport market growth.
Additionally, as e-commerce and entrepreneurial activity have increased, so has the demand for specialized freight transport and supply chain execution capabilities. Reduced logistics, inventory, and fixed expenses are benefits for shippers who hire freight transportation services. Due to their inability to manage global supply chain activities, some businesses have outsourced their goods delivery operations as a result of globalization. Cargo transportation companies offer better and more creative ways to maximize the efficiency of their services, offering benefits including lower capital costs, door-to-door service, flexibility, and a lower chance of damage during transit.
Due to the availability of effective supply chain management, the existence of significant market participants in the e-commerce industry, and the necessary infrastructure, the industry has significantly evolved across the U.S. and Europe. The capacity to track different goods and freight in transit gives e-commerce businesses a complete view of the inventory and activities, which influences the demand for freight transport solutions. Moreover, handling moving products, reducing disruptions, proactive status updates, and risk mitigation aid shippers in enhancing customer experience and reducing costs. The supply chain is therefore anticipated to become more resilient as a result of adequate visibility.
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Market Segmentation:
By Component
- Solution
o Freight Transportation Cost Management
o Freight Mobility Solution
o Freight Security & Monitoring System
o Freight Information Management System
o Fleet Tracking & Maintenance Solution
o Freight Operational Management Solutions
o Freight 3PL Solution
o Warehouse Management System
- Services
o Managed Services
o Business Services
o System Integration
By Transport Mode
- Railways
- Roadways
- Seaways
- Airways
By Industry Vertical
- Retail & E-commerce
- Automotive
- Aerospace & Defence
- Pharmaceuticals
- Energy
- Others
Key Player:
C.H. Robinson Worldwide
Deutsche Post DHL Group
FedEx Corporation
Kuehne + Nagel International AG (Kuehne Holding AG)
United Parcel Service
Schneider National
SAP SE
Nippon Express Co. Ltd.
Oracle Corporation
DSV A/S
Regional Analysis:
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Freight Transport market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
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Key Points:
- Define, describe and forecast Freight Transport market by type, application, end user and region.
- Provide strategies for company to deal with the impact of COVID-19.
- Provide enterprise external environment analysis and PEST analysis.
- Provide market dynamic analysis, including market driving factors, market development constraints.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy.
- Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
- Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
- Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.
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