Press release
2025 Transport Services Market Outlook: Key Indicators Shaping Growth Through 2034
Transport Services
What Is the Expected CAGR for the Transport Services Market Through 2025?
The market size of transport services has seen considerable growth in the past few years. It is projected to expand from $8985.02 billion in 2024 to $9766.08 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 8.7%. Factors such as population increase, urbanization trends, demographic shifts, transportation-related government regulations, and concerns related to health and safety have contributed to the growth experienced during the historic period.
What's the Projected Size of the Global Transport Services Market by 2029?
In the coming years, the transport services market is anticipated to witness a significant surge, reaching a size of $13028.63 billion by 2029 with a compound annual growth rate (CAGR) of 7.5%. The growth can be credited to enhanced sustainability measures, integration with smart cities, the rise of shared mobility services, development of high-speed rail systems, and the implementation of sophisticated ticketing and payment systems. Upcoming trends to take note of during the forecast period include mobility as a service concept, implementation of autonomous vehicles for goods transportation, heightened focus on eco-friendly transport options, increased connectivity in public transportation systems, and the digitization of freight matching platforms.
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Top Growth Drivers in the Transport Services Industry: What's Accelerating the Market?
The augmentation of the transportation services sector is bolstered by the projected stable economic upturn in numerous developed and emerging nations. For example, the UK's GDP in Q2 2024 was documented to be 2.9% higher than its pre-pandemic state in Q4 2019, as per the data from the House of Common Library, a UK governmental agency, in October 2024. During the same timeframe, the Eurozone saw a GDP increase of 3.9%, Germany reported an enhancement of 0.2%, while the US noted the most substantial GDP rise among G7 economies with 10.7%. The market's growth is further anticipated to be bolstered by the recuperation of commodity prices following a significant downturn in the historical window. Additionally, sustained economic expansion is set to boost ventures in end-user sectors, acting as a driver for the market during the anticipated period. It is also anticipated that developed economies will exhibit stable growth, while emerging markets will accelerate at a slightly faster rate during the forecasted span.
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What Trends Will Shape the Transport Services Market Through 2029 and Beyond?
Corporations are fervently harnessing electrical energy for powering buses with an objective of slashing carbon emissions and reducing expenses. Buses powered by solar energy utilize electric batteries that get recharged via solar panels on their rooftops in several instances. This elevates the fuel efficacy of the transport and enhances the lifespan of lithium batteries. Moreover, the components of this advanced technology require minimal maintenance, resulting in substantial cost savings for businesses. Key players engaged in the production of electric buses include Kiira Motors, BYD Company, Heilongjiang Qiqiar New Energy Automobile Co., Ltd., Bauer's Intelligent Transportation, Yutong, and Volvo buses.
What Are the Main Segments in the Transport Services Market?
The transport services market covered in this report is segmented -
1) By Type: Air Transport, General Transport, Pipeline Transport, Rail Transport, Transit And Ground Passenger Transport, Truck Transport, Warehousing And Storage, Water Transport
2) By Purpose: Commuter Travel, Tourism And Leisure Travel, Business Travel, Cargo And Freight Travel, Shipping And Delivery Travel
3) By Destination: Domestic, International
4) By End-Use Industry: Mining, Construction, Agriculture, Other End Use Industries
Subsegments:
1) By Air Transport: Passenger Air Services, Cargo Air Services, Charter Air Services
2) By General Transport: Freight Forwarding, Logistics Services, Courier Services
3) By Pipeline Transport: Oil And Gas Pipeline Transport, Water Pipeline Transport, Chemical Pipeline Transport
4) By Rail Transport: Freight Rail Services, Passenger Rail Services, High-Speed Rail Services
5) By Transit And Ground Passenger Transport: Bus Services, Ride-Sharing Services, Taxi Services
6) By Truck Transport: Long-Distance Trucking, Local Delivery Services, Specialized Freight Trucking
7) By Warehousing And Storage: Public Warehousing, Private Warehousing, Cold Storage Facilities
8) By Water Transport: Cargo Shipping, Ferry Services, Cruise Services
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Which Top Companies are Driving Growth in the Transport Services Market?
Major companies operating in the transport services market include Amazon.com Inc., China Railway Corporation, Cargill Incorporated, United Parcel Service Inc., DHL Group, Deutsche Post AG, FedEx Corporation, A.P. Moller-Maersk A/S, Maersk, United States Postal Service, CMA CGM Group, COSCO Shipping Group, Kuehne + Nagel International, SF Express Co. Ltd., Hapag-Lloyd AG, DSV A/S, Indian Railways, JSC Russian Railways, Nippon Express Co. Ltd., Expeditors International, Kerry Logistics, DB Schenker, Bollore Logistics, XPO Inc., Hellmann Worldwide Logistics, Kintetsu World Express, NFI Industries Inc., Agility, HNA Technology Co. Ltd.
Which Regions Will Dominate the Transport Services Market Through 2029?
Asia-Pacific was the largest region in the transport services market in 2024. Western Europe was the second largest region in the transport services market. The regions covered in the transport services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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