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Container Drayage Market Share & Size, Growth, Industry Trends | Emergen Research
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Global Trade Driving Demand
The rapid growth of international trade is one of the key factors boosting the demand for container drayage services. Containerized cargo traffic is surging as manufacturing hubs like China continue to dominate global exports. For instance, in early 2024, Chinese ports processed over 104 million twenty-foot equivalent units (TEUs), underscoring the need for reliable drayage services to transport goods efficiently from ports to inland destinations.
Additionally, investments in freight networks are expanding globally. In July 2024, DP World announced the launch of 51 new freight forwarding offices across the Asia-Pacific region to strengthen its air and ocean freight operations. Such initiatives further highlight the importance of container drayage in linking global supply chains.
Infrastructure Investments Propel Growth
Governments and private companies are heavily investing in port expansions and modernization to accommodate increasing trade volumes. Upgraded ports equipped with automated cranes, advanced tracking systems, and optimized layouts improve efficiency, reducing ship turnaround times and increasing demand for container drayage services.
One example is APM Terminals, part of the Maersk Group, which acquired a major terminal in Brazil's Port of Suape. This move is part of its strategy to expand regional operations and demonstrates the industry's focus on modernizing port infrastructure to meet growing container volumes.
Mega-vessels, designed for large-scale cargo movement, are also driving the need for enhanced port facilities and more drayage trucks to handle the increased traffic.
Challenges in Infrastructure
Despite the growth, infrastructure limitations remain a significant challenge. Many ports lack the capacity to manage rising container volumes, leading to congestion and delays. Outdated facilities and poor connectivity-whether by road or rail-can disrupt logistics operations and increase costs for drayage providers. These inefficiencies result in longer waiting times, higher fuel consumption, and added fees, affecting the reliability of drayage services.
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Key Industry Segments
The container drayage market plays a critical role in sectors such as electronics and electrical manufacturing. High-value and sensitive goods like microchips and circuit boards require careful handling and timely transport, making drayage services essential for maintaining production schedules.
Innovative solutions, such as Kalmar's electric reach stacker launched in Norway in 2022, reflect the industry's push toward environmentally friendly and efficient operations. Such advancements improve the precision and care needed for transporting fragile goods, ensuring seamless integration into supply chains.
Container Drayage Top Companies and Competitive Landscape
The container drayage industry plays a vital role in the global supply chain, specifically focusing on the transportation of containers over short distances, usually from ports to distribution centres, rail yards, or warehouses. This service is essential for the efficient movement of cargo, bridging the gap between ocean freight and inland transportation networks.
Drayage services are typically short-haul, involving the movement of containers via trucks, and are crucial to minimizing port congestion and ensuring timely delivery to supply chain endpoints. The Key players operating in the Container Drayage Market includes Asiana USA, Boa Logistics LLC, Continental Logistics, Duncan and Son Lines Inc., Evans Delivery Co. Inc., G and D Integrated, Hub Group Inc., IMC Companies LLC, Interlog USA, ITS ConGlobal, and others.
HERE Technologies, a global leader in location data and technology solutions, partnered with PSA Singapore, which operates the world's largest transshipment hub, to reimagine the ecosystem of container trucks in February 2024. This collaboration is for enhanced efficiency in the transportation of goods inside the terminals of the city.
With Singapore being one of the driving forces in the world's container traffic, it houses the second busiest container port in the world: the Port of Singapore. It has a wide network spanning over 600 ports globally, last year alone handling as many as 38.8 million TEUs.
Some of the key companies in the global Container Drayage Market include:
Asiana USA
Boa Logistics LLC
Continental Logistics
Duncan and Son Lines Inc.
Evans Delivery Co. Inc.
G and D Integrated
Hub Group Inc.
IMC Companies LLC
Interlog USA
ITS ConGlobal
Container Drayage Latest Industry Updates
In May, retail sales in the U.S. rose 0.1 percent from the prior month and 2.3 percent compared to this time last year. Sales for core retail, excluding automobile dealers, gasoline stations, and restaurants, increased 0.3 percent from April and up 2.9 percent from May 2023. These are approximately in line with the National Retail Federation's projection of growth between 2.5 and 3.5 percent in 2024.
In July 2024, DP World, a Dubai-based global leader in ports and logistics, further extended its operations into the Asia-Pacific region with 51 new freight forwarding offices. All the offices offer air and ocean freight forwarding services backed by an extensive infrastructure made up of ports, terminals, warehouses, trucks, rail, and vessels from DP World.
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The main report offers detailed historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of the market trends in each of the segments from 2020 to 2033:
Type Outlook (Revenue, USD Million; 2020-2033)
Inter-carrier drayage
Expedited drayage
Intra-carrier drayage
Pier drayage
Others
End-Use Outlook (Revenue, USD Million; 2020-2033)
Electronics and electrical
Food and beverage
Consumer goods and retail
Others
Regional Outlook (Revenue, USD Million; 2020-2033)
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Benelux
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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Container Drayage Market Size @https://www.emergenresearch.com/industry-report/container-drayage-market/market-size
Container Drayage Market Share @https://www.emergenresearch.com/industry-report/container-drayage-market/market-share
Container Drayage Market Trends @https://www.emergenresearch.com/industry-report/container-drayage-market/market-trends
Container Drayage Regional Market Demand @https://www.emergenresearch.com/industry-report/container-drayage-market/regional-market-demand
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