The Freight Transport Market is driven by increasing cross-border trade activities
The Freight Transport Market involves the transportation of goods and cargo through different modes such as rail, road, marine and air freight. This market plays a vital role in fulfilling the supply chain needs of various industries including manufacturing, automotive, energy & mining, food & beverages, aerospace & defense and others. Freight transportation by road accounts for the major share, owing to the flexibility and connectivity it offers for door-to-door cargo deliveries. However, rail freight and marine freight are increasingly being used for long-distance cargo movement due to their cost efficiency. The Freight Transport Market facilitates hassle-free and on-time delivery of raw materials, components and finished goods within countries and across borders.
The freight transport market is estimated to be valued at USD 34.53 Bn in 2024 and is expected to reach USD 73.1 Bn by 2031, growing at a compound annual growth rate (CAGR) of 11.31% from 2024 to 2031.
Key players operating in the Freight Transport Market are Deutsche Post DHL Group, Kuehne + Nagel, DSV A/S, XPO Logistics Inc., Agility Logistics, A.P. Moller – Maersk, CEVA Logistics, GEODIS, Yusen Logistics, DB Schenker.
These players are focusing on expansions, mergers & acquisitions and digitalization of operations to strengthen their global foothold and service capabilities.
Growing international trade on the back of rising globalization is generating high demand for cargo transportation. Freight Transport Market Industry players are witnessing increase in volumes of cross-border shipments across various industries. This is prompting key companies to invest in developing multimodal logistics infrastructure and solutions.
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