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Transport Market 2024-2033 - Size, Trends, Growth & Forecast
Transport Market
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According to The Business Research Company's, The transport market size has grown strongly in recent years. It will grow from $6375.45 billion in 2023 to $6880.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to economic growth, population growth, technological advancements, consumer behavior.
The transport market size is expected to see strong growth in the next few years. It will grow to $9180.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to environmental concerns, urbanization, global trade and supply chain trends, infrastructure investment, digitalization, demographic changes, e-commerce and last-mile delivery. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
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Market Drivers and Trends:
Recently, companies are encouraging lean and green inland transportation. For improved efficiency, companies are focusing on natural gas in shipping, improved vessel designs, efficient loading and unloading of cargo, and many more. The companies are also retrofitting old equipment in ships with emission reduction devices, hull cleaning and coating, and high-performance propellers and nozzles. Certain advanced propulsion systems, such as fuel cell hybrid drive technologies, will be available soon in the market. With these efforts, the inland transport market is seeing steady growth in the upcoming years.
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Major Key Players of the Market:
Toyoto Motor Corp, Volkswagen AG, Daimler AG, EXOR Group, Fiat Chrysler Automobiles NV, Ford Motor Co, SAIC Motor Co ltd, General Motors Co, Peugeot, United Parcel Service, Union Pacific Corporation, Uber, FedEx Corporation, Deutsche Post AG, Delta Air Lines, American Airlines Group, Southwest Airlines, United Airlines Holdings, Canadian National Railway, CSX Corporation, Norfolk Southern Corporation, Kansas City Southern, BNSF Railway, J.B. Hunt Transport Services inc., Schneider National Inc., XPO Inc., Ryder System Inc., Old Dominion Freight Line Inc., ArcBest Corporation, Expeditors International, C H Robinson Worldwide Freight India Pvt Ltd., Landstar System Inc., Werner Enterprises Inc., Knight-Swift Transportation Holdings Inc., Saia, Atlas Air Worldwide Holdings, Air Transport Services Group, Matson Inc., Crowley Maritime Corporation.
Transport Market 2024 Key Insights:
• The transport market size is expected to see strong growth in the next few years. It will grow to $9180.44 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• Advancing Inland Transportation For Efficiency And Sustainability
•
• Western Europe was the largest region in the inland water transport market in 2023
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