Freight Logistics Market size to grow at a CAGR of 5.74% from 2022 to 2027, Increasing outsourcing in logistics to drive market growth -Technavio

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Feb 29, 2024, 23:48 ET

NEW YORK, Feb. 29, 2024 /PRNewswire/ -- The freight logistics market is estimated to grow by USD 319.65 million from 2022 to 2027. However, the growth momentum will progress at a CAGR of 5.74% during the forecast period. The market is segmented by Type (Road, Maritime, Rail, and Air), End-user (Manufacturing, Automotive, Consumer goods, Food and beverage, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). The market share growth by the road segment will be significant for the market growth during the forecast period. The paid process of carrying goods, cargo, and other things from one location to another using wheeled vehicles is known as freight transportation with the road being the largest segment of the global market and will continue to remain the same during the forecast period. Increasing outsourcing in logistics is a major driver for the market growth. The companies working on logistics are projected to invest more in digital and analytic technologies during the forecast period. It becomes increasingly difficult to differentiate between logistics companies from technology providers as they provide both logistics services to end-users and also use technology to provide better solutions for warehouse management, procurement, and other operational applications in the supply chain. Download a Sample Report in minutes!

Technavio has announced its latest market research report titled Global Freight Logistics Market 2023-2027

Market Insights -

Vendors: 15+, Including Agility Public Warehousing Co. K.S.C.P, C H Robinson Worldwide Inc., CJ Logistics Corp., CMA CGM SA, Deutsche Bahn AG, Deutsche Post AG, Dimerco Express Corp., DSV AS, Expeditors International of Washington Inc., FedEx Corp., Hellmann Worldwide Logistics SE and Co KG, Kerry Logistics Network Ltd., Kuehne Nagel Management AG, Lineage Logistics Holdings LLC, Manitoulin Group of Companies, Nippon Express Holdings Inc., Transporteca Aps, Uber Technologies Inc, United Parcel Service Inc., and Bollore SE, among others.
Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
Segments: Type (Road, Maritime, Rail, and Air), End-user (Manufacturing, Automotive, Consumer goods, Food and beverage, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America) To understand more about the information services market, request a sample report

Vendor Insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including Agility Public Warehousing Co. K.S.C.P, C H Robinson Worldwide Inc., CJ Logistics Corp., CMA CGM SA, Deutsche Bahn AG, Deutsche Post AG, Dimerco Express Corp., DSV AS, Expeditors International of Washington Inc., FedEx Corp., Hellmann Worldwide Logistics SE and Co KG, Kerry Logistics Network Ltd., Kuehne Nagel Management AG, Lineage Logistics Holdings LLC, Manitoulin Group of Companies, Nippon Express Holdings Inc., Transporteca Aps, Uber Technologies Inc, United Parcel Service Inc., and Bollore SE. request a sample report

The growing popularity of multimodal transportation

Multiple modes of transportation are used by both intermodal and multimodal transportation but intermodal and multimodal are two different modes of transportation. Multimodal transportation is under a single contract, whereas intermodal transportation has multiple contracts with different carriers. Moreover, in a multimodal procedure, a single transport carrier is responsible for moving shipments in all different modes. Hence, such factors drive the market growth during the forecast period.

High infrastructure costs are a major challenge hindering market growth. Drivers & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!

Analyst Review

The freight logistics market is a complex ecosystem comprising various sectors and industries crucial for the movement of goods across the globe. In recent times, several factors have significantly influenced this market, ranging from advancements in e-commerce to geopolitical tensions like the Russia-Ukraine war. Let's delve into the dynamics of this multifaceted industry.

One of the key players in the freight logistics landscape is the rail industry, which forms an integral part of the transportation network, facilitating the movement of bulk goods efficiently. However, with the advent of e-commerce, there has been a notable shift towards last-mile delivery services, especially in densely populated areas, driving demand for innovative solutions such as electric vehicles.

The road freight transport industry also plays a vital role, facing challenges such as supply chain bottlenecks and the need to comply with BS-VI emission standards. Despite these challenges, there has been a surge in leasing activity for temperature-controlled warehouses, reflecting the growing demand for efficient storage solutions, particularly in the Asia-Pacific region.

Amidst economic uncertainties and fluctuating fuel prices, stakeholders in the freight logistics market are grappling with inflationary pressures and supply chain disruptions. However, investments in infrastructure, including road infrastructure and maritime cargo capacity, aim to alleviate some of these challenges.

Innovation remains at the forefront, with the Global Innovation Index driving advancements in logistics technology and processes. Moreover, initiatives like the Agriculture Infrastructure Fund seek to bolster the agricultural supply chain, further intertwining various sectors within the freight logistics market.

In conclusion, the freight logistics market is a dynamic landscape shaped by diverse entities and influenced by global trends, highlighting the interconnectedness of industries and the need for adaptive strategies to navigate through evolving complexities.

The e-commerce boom has reshaped the road freight transport industry, impacting fuel prices and oil demand in the logistics market. sample report!

Related Reports:

The rail freight transportation market in North America is estimated to decline at a CAGR of 7.47% between 2022 and 2027. The size of the market is forecasted to decrease by USD 42.88 billion. This report extensively covers market segmentation by end-user (petroleum and chemical, coal, metals and minerals, agriculture products, and others), mode of transportation (freight cars, tank wagons, and intermodals), and geography (US, Canada, and Mexico). The low transportation cost of freight is notably driving the market growth.

The rail freight transportation market size in Europe is expected to increase by USD 5.29 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 1.36%. Furthermore, this report extensively covers rail freight transportation market in Europe segmentations by area (international and domestic) and geography (Germany, Poland, France, Italy, and Rest of Europe). The increasing investments in the market is notably driving the rail freight transportation market growth in Europe.

Table of Contents:

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

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SOURCE Technavio