Freight Transport Market Analysis and Forecast upto 2024 | Key Companies are Descartes System Group, UPS, DHL, SNCF Geodis, CEVA Logistics, JDA Software
The report by Transparency Market Research collates important facts and figures pertaining to the global market for freight transport. Factoring in historical data and current market events and trends, the report attempts to gauge the market’s future accurately. It also furnishes valuable market insights by leveraging analytical tools such as Porter’s Five Forces analysis and a SWOT analysis. It presents a detailed picture of the vendor landscape as well.
In fact, freight trucks are central to most manufacturing or industrial activities as they transport the crucial raw materials from one place to another. Even finished goods are sent to different markets using freight mostly via roadways. Undoubtedly, freight is big business.
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Global Freight Transport Market: Trends and Opportunities
The primary advantage of freight transport market is that it helps in delivering goods and services at minimal costs, thereby enabling businesses to devote more time to their core competencies. This has filliped the demand for freight quite substantially. Another factor driving growth in the market is the massive upswing in international trade, which has trigged a flurry of transportation activities across countries and continents. The swift pace of urbanization and the resultant infrastructure building and construction activities have also fuelled an uptick in demand in the global freight transport market.
Besides, new cutting-edge technologies have also positively impacted the global freight transport market. For example, use of latest technology in trucks and railways such as hydraulics lifters and GPS navigation systems has to a significant extent stimulated demand. Further, improved safety in freight operations, lowering costs, and increasing operational efficiency have positively impacted the market as well. Countering the growth in the market are dearth of skilled professionals in the industry and reluctance in embracing new ways of transportation.
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Global Freight Transport Market: Region-wise Outlook
The global freight transport market can be segmented geographically into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Among them, Asia Pacific is the most lucrative market because of the supercharged, unabated growth in infrastructural activities in the region, which require transporting goods and equipment from one place to another via roadways or railways.
Additionally, the quick uptake of latest technologies such as hydraulics lifters and automated doors in freight trucks and trains has also bolstered the market in the region. Soaring demand for heavy commercial vehicles in the emerging economies of India and China is another factor driving the market.
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With Europe and North America showing signs of recovery after the 2008 meltdown, their markets are forecasted to clock steady growth too in the near future. As business activities and manufacturing operations pick up steam in the two continents, the demand for freight is also being filliped in the two continents. Besides a recovering economy, another factor triggering growth in the market in Europe is the presence of premium truck manufacturers such as Volvo, Mercedes Benz, and Renault in it.
Companies Mentioned in the Research Report:
The key players operating within the global freight transport market currently include Descartes System Group, UPS, DHL, SNCF Geodis, CEVA Logistics, JDA Software, and DB Schenkerand.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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