Freight Transport Market Size Projected To Reach $61.62 Billion By 2034 With A Cagr Of 12.1%

The Freight Transport Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Freight Transport Market Size and Projected Growth Rate?
The market size for freight transport has seen a significant expansion in the last few years. It's projected to increase from $34.82 billion in 2024 to a whopping $38.96 billion in 2025, with a compound annual growth rate (CAGR) of 11.9%. This upward trend during the historic era is attributed to factors such as the surge in globalization and worldwide trade, economic expansion and industrialization, enhancement of infrastructure projects, a boom in manufacturing activities and the establishment of environmental regulations.

The market size of freight transport is predicted to experience a significant surge in the upcoming years. By 2029, it is projected to expand to a value of $61.62 billion at a compound annual growth rate of 12.1%. The growth during the forecast period can be linked to the shift towards sustainable transport methods, increased attention to last-mile delivery solutions, government backing for sustainable transport, heightened investment in transport infrastructure, and progress in autonomous vehicles. Key trends during the forecast period encompass the integration of the Internet of Things within logistics, the embrace of blockchain within supply chains, the implementation of digital technologies, data-driven decision-making processes, real-time tracking and visible operations, as well as cooperation and partnerships.

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What Are the Different Freight Transport Market Segments?
The freight transport market covered in this report is segmented -

1) By Offering: Solution, Services
2) By Mode Of Transport: Railways, Roadways, Seaways, Airways
3) By Vertical: Retail And E-commerce, Automotive, Aerospace, Pharmaceuticals, Energy, Other Verticals

Subsegments:
1) By Solution: Freight Management Software, Transportation Management Systems (TMS), Supply Chain Optimization Tools
2) By Services: Freight Forwarding Services, Warehousing And Distribution Services, Last-Mile Delivery Services, Customs Brokerage Services

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What Are the Primary Drivers Shaping the Freight Transport Market?
The expansion of the e-commerce sector is predicted to fuel the growth of the freight transport market. Freight transport, which involves the widespread transfer of goods using land-based transportation within a specific network, has seen growing demand due to the rise of e-commerce. As an example, data published by the United States Census Bureau, a government entity, in August 2023 indicated that U.S. retail e-commerce sales hit $291.6 billion in the second quarter of 2024. This signifies a 1.3% climb from the preceding quarter and a 6.7% uptick compared to the same timeframe in 2023. Concurrently, total retail sales were approximated at $1,826.9 billion, demonstrating a 0.5% growth from the first quarter and a 2.1% annual increase, with e-commerce comprising 16.0% of aggregate sales. Thus, the escalating growth of the e-commerce sector is propelling the freight transport market.

Which Companies Are Leading in the Freight Transport Market?
Major companies operating in the freight transport market include CEVA Logistics, CJ Logistics Corporation, Nippon Express Holdings, Kerry Logistics Network Limited, Kuehne + Nagel International AG, DSV Panalpina A/S, Deutsche Post DHL, FedEx Corporation., United Parcel Service of America Inc, Schneider National Inc., C.H. Robinson Worldwide Inc, GATI-KWE, DB Schenker Logistics, XPO Logistics, Expeditors International of Washington Inc., Agility Logistics, Geodis, Hellmann Worldwide Logistics, Bolloré Logistics, Yusen Logistics Co. Ltd., Sinotrans Limited, Toll Group, ArcBest Corporation, J.B. Hunt Transport Services Inc., Old Dominion Freight Line Inc., Saia LTL Freight, Werner Enterprises Inc., Knight-Swift Transportation Holdings Inc., Landstar System Inc., Swift Transportation Company

What Are the Major Trends Shaping the Freight Transport Market?
One of the prominent trends in the freight transport market is the prominence of technological innovation. To consolidate their market presence, primary companies within the sector are pivoting to innovate solutions. An illustration of this trend is ShipBob Inc., a software enterprise based in the US, which introduced a holistic managed freight transportation solution backed by Flexport in May 2022. The solution integrates ShipBob's cross-docking, inventory distribution, and fulfillment networks to manage freight shipments for online businesses with the objective of enhancing shipping speeds while cutting down costs for shipping inventory from China to the US. FreightBob aims to assist in the management of freight for e-commerce ventures, bypassing port congestions and supply chain disruptions, trimming down transit time, and streamlining inventory distribution.

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What Are the Top Revenue-Generating Geographies in the Freight Transport Market?
North America was the largest region in the freight transport market in 2024. Asia-Pacific is expected to be the fastest-growing region in the freight transport market during the forecast period. The regions covered in the freight transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Freight Transport Market?
2. What is the CAGR expected in the Freight Transport Market?
3. What Are the Key Innovations Transforming the Freight Transport Industry?
4. Which Region Is Leading the Freight Transport Market?

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