Transport Market on Path to Hit $8792.11 Billion by 2029 at 6.9% CAGR

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Transport Market Outlook: What Size And CAGR Are Anticipated By 2025?
The size of the transport market has been increasing steadily over the past years. The projected growth is from $6335.08 billion in 2024 to $6725.68 billion in 2025, with a compound annual growth rate (CAGR) of 6.2%. The previous growth has been significantly influenced by factors such as economic progression, population expansion, technological advances, and changes in consumer behavior.

What Is the Expected CAGR for the Transport Market Growth Through 2029?
In the coming years, the transport market is projected to witness substantial growth, expanding to a size of $8792.11 billion in 2029 with a compound annual growth rate (CAGR) of 6.9%. This expected growth during the forecast period is influenced by factors such as environmental issues, enhanced urbanisation, international trade movements, supply chain trends, investment in infrastructure, digital transformation, alterations in demographics, e-commerce, and final stage delivery. Key trends to be observed during the forecast period include the process of electric and weight reduction transformation, utilisation of advanced materials, application of additive manufacturing principles, increased digitalisation and connectivity, as well as partnerships and collaborations.

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What Are the Primary Drivers Behind Transport Market Growth?
The progression of developing nations, supported by their rapid economic expansion, has been a crucial factor driving the growth of the transport manufacturing market throughout the historical era. The International Monetary Fund (IMF) forecasts an increase in global GDP growth to 3.3% in 2020 and further to 3.4% in 2021. The market is also projected to be bolstered by the recovery of commodity prices following their significant downturn in the historical era. It is anticipated that developed economies will demonstrate consistent growth over the future period, while emerging markets will maintain their slightly higher growth trajectory relative to developed markets. Increased investments across end-user industries as a result of steady economic growth are expected to propel market growth throughout the forecast period.

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What Are the Key Segments Driving Transport Market Growth?
The transport market covered in this report is segmented -

1) By Type: Motor Vehicle Parts, Motor Vehicles, Train And Components, Trailer, Motor Home, Travel Trailer And Camper, Ship And Boat Building And Repairing, All Other Transportation Equipment
2) By Application: General Services, Dockage, Hull Part, Engine Parts, Electric Works, Auxiliary Services
3) By End-User: Transport Companies, Military, Other End Users

Subsegments:
1) By Motor Vehicle Parts: Engine Components, Transmission And Drivetrain Parts, Suspension And Braking Components, Electrical And Electronic Parts
2) By Motor Vehicles: Passenger Cars, Commercial Vehicles (Trucks, Buses), Electric And Hybrid Vehicles
3) By Train And Components: Locomotives, Freight and Passenger Wagons, Rail Infrastructure Components (Tracks, Signaling Systems)
4) By Trailer: Freight Trailers, Tanker Trailers, Flatbed Trailers
5) By Motor Home: Class A Motorhomes, Class B Motorhomes (Camper Vans), Class C Motorhomes
6) By Travel Trailer and Camper: Fifth-wheel Trailers, Pop-up Campers, Toy Haulers
7) By Ship And Boat Building And Repairing: Commercial Ships (Cargo Ships, Tankers), Recreational Boats (Yachts, Speedboats), Naval And Defense Ships
8) By All Other Transportation Equipment: Aircraft And Aerospace Components, Bicycles And Motorcycles, Specialty Vehicles (Snowmobiles, ATVs)

What Are the Technological Trends Impacting the Transport Market?
The global spread of COVID-19 has significantly hampered the transportation manufacturing market in 2020. It caused disruptions in supply chains due to trade restrictions and an overall decline in demand because of lockdown measures enforced by governments worldwide. COVID-19, bearing symptoms similar to the flu such as cough, fever, and difficult breathing, was first discovered in Wuhan, Hubei province in China in 2019 and has since reached Western Europe, North America, and Asia. For transportation manufacturers, who rely heavily on the global supply chain for parts and components, the movement restrictions significantly impacted production. New automobile sales also witnessed a considerable dip as consumer demand dropped due to lockdowns in many countries. The detrimental effects of the pandemic have persisted into 2021. Nonetheless, the transportation manufacturing market is anticipated to bounce back from this crisis over the projected period, given that this crisis, known as a black swan event, does not stem from any inherent or ongoing weaknesses within the market or the global economy.

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Who Are the Major Competitors in the Global Transport Market?
Major companies operating in the transport market include 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.

Which Region Dominates the Transport Market Share in 2025?
Western Europe was the largest region in the transport market in 2024. Asia-Pacific was the second largest region in the inland water transport market. The regions covered in the transport market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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