Global Drayage Services Market to 2027, Growing Manufacturing Industry and Rising Seaborne Trade Drives Growth

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Jul 28, 2023, 12:45 ET

DUBLIN, July 28, 2023 /PRNewswire/ -- The "Global Drayage Services Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.

The global drayage services market is expected to witness substantial growth in the coming years, with a projected increase of $2960.11 million during the period from 2022 to 2027.

The market is expected to accelerate at a Compound Annual Growth Rate (CAGR) of 2.24% throughout the forecast period. The report on the drayage services market provides a holistic analysis, including market size and forecast, trends, growth drivers, challenges, and vendor analysis, covering approximately 25 market players.

The report offers an up-to-date analysis of the current market scenario, recent trends, drivers, and the overall market environment. The market is driven by several key factors:

Market Drivers:

Growing Manufacturing Industry: The expanding manufacturing sector is driving the demand for drayage services to transport raw materials and finished goods efficiently between ports, rail yards, and distribution centers.
Rising Seaborne Trade: The increasing volume of seaborne trade has led to a greater need for drayage services to move containers and cargo between ports and inland destinations.
Increasing Cross-Border Trade: The growth of international trade and cross-border logistics has contributed to the rising demand for drayage services for seamless movement of goods across borders.

The drayage services market is segmented based on end-users, types, and geographical landscape:

By End-user

Electronics and Electrical
Food and Beverage
Consumer Goods and Retail
Others

By Type

Ship
Rail
Truck

By Geographical Landscape

APAC (Asia-Pacific)
North America
Europe
Middle East and Africa
South America

This study identifies the growing e-commerce market as one of the prime reasons driving the drayage services market growth during the next few years. Additionally, the integration of technologically advanced solutions and the growing importance of different forms of drayage services are expected to contribute to sizable demand in the market.

Companies Mentioned:

Asiana USA
Boa Logistics LLC
ContainerPort Group Inc.
Continental Logistics
Evans Delivery Co. Inc.
G and D Integrated
Hub Group Inc.
IMC Companies
Interlog USA
ITS ConGlobal
J B Hunt Transport Services Inc.
Knight Swift Transportation Holdings Inc.
NFI Industries Inc.
PLS Logistics
Port City Logistics
RoadOne IntermodaLogistics Inc.
Schneider National Inc.
Taylor Distributing Co.
Trinity Logistics Inc.
XPO Inc.

For more information about this report visit https://www.researchandmarkets.com/r/xm5m4m

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SOURCE Research and Markets